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Traffic Sensor Market

Traffic Sensor Market

By Type (Inductive Loop, Piezoelectric Sensor, Bending Plate, Image Sensor, Infrared Sensor, LIDAR Sensors, and Others), Technology (RFID, 2D/3D, GSM, and Others), Application (Vehicle Measurement and Profiling, Traffic Monitoring, Weigh in Motion, Automated Tolling, and Others), and Industry Vertical (Automobile, Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027

Report Code: A08561
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Mar 2023 | 2416 Views
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Traffic Sensor Market Outlook - 2027

Traffic sensor is an electronic sensor or timer that indicates presence and passage of vehicles with a view to direct and monitor traffic flow. Traffic sensors are primarily used in smart traffic monitoring systems to analyze pattern of moving vehicles and their interaction in traffic as they have high accuracy as well as precision in detecting vehicles. 

In addition, these are used in country roads and suburbs with less consistent traffic flow to detect if cars have entered turn lanes or at intersections to improve traffic infrastructure. Traffic sensors analyze number of vehicles passing through an area at a specific instant by providing real-time traffic data with a view to reduce congestion on roads, hence increasing overall efficiency of a city and decreasing economic losses. Radar sensors are used in travel-time estimation, bottleneck identification in any weather condition such as haze and rain as they are rugged in nature and resistant to lightening. 

Magnetic traffic sensors are used to detect vehicles, when change in the earth’s magnetic field is produced and collect flow, occupancy, speed, length of vehicle. These are suitable to be deployed on bridges. Integration of advanced 3D technology with radar sensors attributing accurate vehicle counting supported by investments by government to improve road transport infrastructure implies that the traffic sensor market share would grow at a steady pace in coming years.

Covid-19 Scenario Analysis:

  • The ongoing COVID-19 pandemic is unsettling for people as well as organizations and business firms worldwide. With the shutdown of manufacturing operations and travel and transportation ban worldwide, the demand for traffic sensors has also plunged abruptly. The exact measure of the scale and scope of the challenge cannot be anticipated yet.
  • In response to the worldwide lockdown, there is a surge in virtual data traffic rather than real traffic by vehicles on roads. Shutdown globally has led to manufacturing halt of vehicles including aircraft that has caused subsequent negative impact on the overall market scenario of traffic sensors considerably. 
  • Since April 2020, Vivacity Labs has been monitoring the impact on road usage during the COVID-19 outbreak using its national network of AI-based traffic sensors. It proved helpful to monitor government messaging aimed at reducing pedestrian and cyclist number in urban areas. These sensors analyzed reduction in car traffic and light goods vehicles by 60% and 45%, respectively in the UK since lockdown. This precise information helped government officials to take important decisions at this time of national crisis.
  • The transportation sector being shut down has highly decreased congestion due to vehicles on roads and highways, thereby reducing the need for transportation network surveillance. Governments worldwide should ease restriction on the import and export with a view to balance demand and supply chain of the market.

Top Impacting Factors: Market Scenario Analysis, Trends, Driver, and Impact analysis

Adoption of advanced traffic management system to obtain real-time traffic information, owing to congestion by increasing number of passenger cars, electric vehicles is the major factor fueling traffic sensor market growth. However, high initial investment due to high setup cost, large maintenance cost coupled with limited budget on infrastructure tends to hamper the traffic sensor market growth.

On the contrary, rise in installation of traffic sensors to collect real-time data for applications such as flow monitor and travel time estimation for transportation network surveillance with a view to minimize traffic delays boosts the traffic sensor market revenue. Development of smart prototype of traffic monitoring system using emerging technologies such as artificial intelligence (AI) is anticipated to pave new avenues to the traffic sensor industry.

New Product Launches to flourish the market:

Leading traffic sensor market players adopt necessary steps to improve safety and efficiency of cities and highways by developing above-ground detection technology solutions including real-time reaction capabilities and in-depth analytics to make confident and proactive decisions. 

In January 2020, Image Sensing Systems Inc., Developer of Intelligent Transport Systems above-ground Detection Technology, launched the next-generation radar, RTMS Echo. The RTMS Echo radar is a powerful IoT-ready device that is easily-installable with built-in aiming guidance, auto configuration of sensor, and wireless monitoring via smart device. This comprises a wireless configuration using mobile or tablet eliminating the need to carry a computer or install complicated software. The per-vehicle data accuracy of RTMS Echo can be easily formatted to provide reliable data maximizing existing infrastructure and optimizing safety and efficiency of every community. RTMS Echo provides accurate, reliable traffic data about current conditions on roadways thereby preventing drivers and transportation planners from facing congestion, delays, potentially dangerous situations and offering facilities of safe and congestion free roadways.

Surge in use in Industrial and Automotive application

Increase in use of these sensors in transportation systems attributes to control traffic volume, reduction of traffic jam, accidents, and fuel wastage.

In January 2020, Ainstein, a leader in designing intelligent radar systems, announced WAYV Air, WAYV, and WAYV Pro, a line of radar modules designed for use in static and fixed-mounted applications such as traffic management. 

WAYV Air is based on 60GHz radar sensing technology featuring compact form factor, low cost, and low power consumption. This sensor is able to detect and track people both indoor and outdoor. In addition, it is used in smart building applications such as building automation, space utilization, and safety and security.

WAYV and WAYV Pro are mid-and long-range radar sensors incorporating built-in radar processors, advanced radar processing algorithms that can track vehicles and pedestrians in challenging light and weather conditions. WAYV and WAYV Pro are ideal for surveillance, intelligent traffic management among other smart city applications.

WAYV sensors track the flow of customers through a store, hotel or in industrial environments hence providing valuable insights around space utilization. These sensors have superior range, resolution, field-of-view and are generally deployed behind the ceiling, improving aesthetics and reducing privacy concerns. WAYV sensors address privacy concerns with tracking sensors since without facial recognition software they don’t identify specific individuals and cover a wider area than several ultrasonic sensors.

Key benefits of the stakeholders:

  • The study gives an analytical overview of traffic sensor market forecast with current trends and future estimations to determine imminent investment pockets.
  • The report provides information related to key drivers, restraints, and opportunities along with detailed traffic sensor market analysis.
  • The current traffic sensor market trends are quantitatively analyzed from 2021 to 2027.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

Questions answered in the Traffic Sensor market research report:

  • Who are the leading market players active in the traffic sensor market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the traffic sensor market?
  • What are the projections for the future that would help in taking further strategic steps? 

Traffic Sensor Market Report Highlights

Aspects Details
  Industry Vertical
  • Automotive
  • Oil and Gas
  •  Mining
  •  Aerospace and Defense
  •  Transportation
  • Construction
  • Others
By Type
  • Inductive Loop Sensors
  • Piezoelectric Sensor
  • Image Sensor
  • Infrared Sensor
  • LIDAR Sensors
  • Thermal Sensors
  • Others
By Technology
  • RFID(Radio Frequency Identification)
  • 2D/3D
  • GSM
  • Others
By Application
  • Vehicle Measurement and Profiling
  • Traffic Monitoring
  • Weigh in Motion
  • Automated Tolling (E-Toll)
By Region
  • North America  (U.S., Canada)
  • Europe  (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia Pacific  (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players TrafficCom AG, TE Connectivity, SWARCO AG, Sensys Networks Inc, Kistler Group, SICK AG, Raytheon Group, FLIR Systems Inc., Siemens AG, Traffic Sensors Corp.

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