Traffic Sensor Market Business Statistics and Research Methodology by Demand, Business Growth, Top Key Players Update, Forecast to 2026


The Traffic Sensor Market is estimated to be valued at USD 566 million in 2021 and reach USD 809 million by 2026, at a CAGR of 7.4% between 2021 and 2026.

The growing need for real-time information system, and government initiative to upgrade transport infrastructure are the key factors driving the growth of the market. Likewise, Growth in cycling infrastructure leading to higher adoption of bicycle counting sensors in traffic sensor market are expected to create lucrative opportunities for the players in the Traffic Sensor Market. However, high cost and fulfilment of fundamental requirements for the installation of nonintrusive sensors are expected to restraint market growth.

Key Players

Traffic Sensor Market was dominated by EFKON (Austria), Siemens (US), International Road Dynamics (Canada), Kapsch TrafficCom (Austria), and Q-Free ASA (Norway).

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162500361

Lidar sensor segment is projected to witness the highest CAGR for the forecast period

Laser beams are used in lidar technology to map the surroundings and calculate distances. It is now a necessary component for many applications, including robots, mapping, and autonomous vehicles. The industry has grown as a result of the rising demand for Lidar sensors, and it is anticipated to expand rapidly over the next several years, as seen by the high projected CAGR (Compound Annual Growth Rate) for the forecast period.

Automated Tolling (E-Toll) to account for the highest CAGR of Traffic Sensor Market during the forecast period

E-Toll, or automated tolling, is a system that enables motorists to pay tolls electronically without having to stop at a toll booth. This is accomplished by using traffic sensors to detect vehicles and collect the toll, such as RFID (Radio Frequency Identification) readers and cameras. Traffic sensor market growth is being driven by the expanding use of E-Toll systems globally, which is anticipated to continue growing quickly and produce the highest CAGR throughout the projected period.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/traffic-sensor-market-162500361.html

2D segment will have the highest growth in the coming years

The usage of sensors that can gauge distances or recognise things in two dimensions is referred to as the 2D (two-dimensional) segment (height and width). These sensors are widely employed in numerous fields, including security, robotics, and industrial automation. The 2D sector is anticipated to develop at the fastest rate in the upcoming years as a result of the rising demand for these sensors. This increase can be linked to elements like their affordability, portability, and simplicity of integration into current systems.

APAC is attributed to growing at the highest CAGR in Traffic Sensor market during the forecast period (2021-2026)

The Traffic Sensor Market is no exception to the Asia-Pacific (APAC) region's role as a centre of technology development and economic expansion. The APAC region is anticipated to see the greatest CAGR in the Traffic Sensor Market during the forecast period, thanks to nations like China, Japan, and South Korea setting the bar in terms of innovation and implementation (2021-2026). This development can be ascribed to elements including growing urbanisation, expanding transportation systems, and rising demand for connected and smart technologies. Additionally, encouraging government programmes like those promoting driving safety are helping the Traffic Sensor Market in the APAC region flourish.

News Covered:

https://www.prnewswire.com/news-releases/traffic-sensor-market-worth-809-million-by-2026--exclusive-report-by-marketsandmarkets-301437769.html 

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. 

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com

Comments

Post a Comment

Popular posts from this blog

Trends Shaping the Environmental Test Chambers Market

The   Environmental Test Chambers Market Size  is expected to rise steadily; estimates show that it will reach USD 938 million by 2024 from USD 842 million in 2019, a compound annual growth rate (CAGR) of 2.18%. The most recent market research report outlines this growth trajectory and highlights the several variables that are driving this expansion. A variety of industrial verticals, including aerospace and defence, automotive, telecommunications, and electronics, are served by the market's segmentation based on type, which includes temperature and humidity chambers, customised chambers, and thermal shock chambers. Over the course of the forecast period, factors like strict regulatory requirements, rising need for dependable testing solutions, and technical developments in environmental testing equipment are anticipated to drive market expansion. Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107895228 The environmental test chambers mar...
Read more

Microwave Revolution: Unraveling the Monolithic Microwave IC Market

Image
The   Monolithic Microwave IC Market  showed strong growth, reaching a worth of USD 9.7 billion in 2022 and expected to reach USD 17.0 billion by 2027. It is anticipated that the market would expand at a notable compound annual growth rate (CAGR) of 11.9% from 2022 to 2027. This growth trend shows how Monolithic Microwave Integrated Circuits (MMICs) are becoming more and more popular in a variety of industries. MMICs are essential parts of applications like consumer electronics, aircraft, defence, and telecommunications because of their small size and excellent performance at microwave frequencies. Technological developments, the growing need for high-frequency communication systems, and the extensive use of MMICs in developing technologies are the main factors propelling the market's growth. The MMIC market is expanding significantly due to a number of important factors. The smartphone industry is a major trigger for the spike in demand for Monolithic Microwave Integrated Cir...
Read more

Empowering Connectivity: RF Gallium Nitride Market on Track for $2.8 Billion by 2028

With a projected value of USD 2.8 billion by 2028, the global   RF Gallium Nitride (GaN) Market   is expected to experience significant expansion from its estimated USD 1.5 billion valuation in 2023. Over the course of the forecast period, this projected growth translates into a strong compound annual growth rate (CAGR) of 12.9%. Technological developments, the growing need for high-frequency and high-power devices, and the broad use of GaN technology in a variety of industries, including the automotive, aerospace and defence, and telecommunications sectors, are all considered contributing factors to the market value increase. The market is anticipated to experience substantial growth in the upcoming years as GaN continues to establish itself as a favoured material for RF applications because of its excellent qualities, such as high electron mobility and thermal stability. Download PDF Brochure:   https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=183000597 There are...
Read more