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 is 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 non-intrusive sensors are expected to restraint market growth.

Imaging sensor will have the highest growth in coming years
Image sensor is expected to account the largest share of the overall traffic sensor market by 2026. By image sensor the images are seen from the cameras located beside or upon the road. Moreover, the images seen from the camera located in the vehicle can be used for detection of the car behind it, measuring the distance of the following vehicle from it, detection of obstacle, and detection of lane. This traffic image sensor can be built into a traffic signal controller because of its compact size. Image sensor offers high sensitivity even in poor light conditions also, this image sensor possesses high speed imaging capabilities which offers better daytime imaging performance.

2D segment is expected to hold the largest share in 2026
Despite the numerous benefits of 3D sensor technology for quality traffic monitoring applications, many traffic control authorities continue to rely solely on 2D sensor for quality control processes. While useful in a limited number of scenarios, 2D sensor is limited in its ability to achieve 100% quality control, which is considered a major concern, especially in case of multilane and heavy urban traffic congestions, where near to 100% quality control is a major preference. Due to these reasons, although the 2D sensor will continue to dominate the traffic sensor market.

APAC is attributed to grow at the highest CAGR in overall traffic sensor market during the forecast period (2021-2026)
APAC is expected to grow at the highest CAGR in the overall traffic sensor market. The fastest growth of the APAC traffic sensor market is expected to be driven by the increasing number of mega cities and growing population in developed and developing countries.

The break-up of primary participants for the report has been shown below:

  • By Company Type: Tier 1 - 30%, Tier 2 - 45%, and Tier 3 - 25%
  • By Designation: C-level Executives - 35%, Director Level - 45%, and Others - 20%
  • By Region: North America - 50%, Europe - 30%, APAC - 10%, and RoW - 10%

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

Research Coverage:
This research report categorizes taffic sensor market by sensor type, by technology, by application, and by region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the traffic sensor market and forecasts the same till 2026.

Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the traffic sensor market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches and developments, collaborations and acquisitions.
4. This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of traffic sensor will look like for the forecast period. The region segment includes the country wise impact analysis of COVID-19 and initiatives taken to overcome these impacts