Research: Traffic sensor market worth US$381.3 million by 2023

According to the latest research by MarketsandMarkets, the traffic sensor market is expected to grow from US$22 million in 2017 to US$381.3 million by 2023, at a CAGR of 8.94 per cent during 2017-2023. The increasing demand for real-time information systems and increasing urbanisation and population are the major factors that drive the market. The market for radar sensors is expected to grow at the highest CAGR during the forecast period compared to other types of sensors. Radar sensors are resistant to lig
August 8, 2017 Read time: 2 mins
According to the latest research by 6418 MarketsandMarkets, the traffic sensor market is expected to grow from US$22 million in 2017 to US$381.3 million by 2023, at a CAGR of 8.94 per cent during 2017-2023. The increasing demand for real-time information systems and increasing urbanisation and population are the major factors that drive the market.


The market for radar sensors is expected to grow at the highest CAGR during the forecast period compared to other types of sensors. Radar sensors are resistant to lightning and other weather conditions such as haze, rain, or cloudy conditions compared to other detection technologies such as image sensors, which acts as a major driving factor for the growth of the market for radar sensors.

Traffic monitoring held the largest share of the traffic sensor market. The traffic monitoring systems allow real-time monitoring of specific situations and road areas such as toll highways, bridges, and underpasses with the help of dedicated video capturing devices. The systems extract useful data on road mobility and traffic and help enhance road safety and provide information to users. Vehicle counting and vehicle motion tracking are the major applications under traffic monitoring leading to a high rate of adoption of traffic sensors.

In Asia Pacific, China and Australia are the major contributors to the growth of the traffic sensor market. Some of the factors driving the growth of the market in this region include rapid developments to improve transportation industry, implementation of e-tolls, and various initiatives by the government to implement traffic management solutions.

Detection, Monitoring & Machine Vision Classification & Data Collection Urban Traffic Control

For more information on companies in this article

Related Content

  • Truck platooning trials take to the highways
    July 24, 2017
    There is rising enthusiasm in America and beyond for the concept of truck platooning with trials being planned in several US states, as David Crawford reports. Growing numbers of US states are considering or implementing plans for trials of electronically-linked truck platooning on public road networks. This is in response to the interest being shown by the US$70bn a year road freight industry, where fuel represents 41% of the operating costs making the prospect of improving fuel economy by trucks travellin
    Read More
  • Truck platooning trials take to the highways
    July 24, 2017
    There is rising enthusiasm in America and beyond for the concept of truck platooning with trials being planned in several US states, as David Crawford reports. Growing numbers of US states are considering or implementing plans for trials of electronically-linked truck platooning on public road networks. This is in response to the interest being shown by the US$70bn a year road freight industry, where fuel represents 41% of the operating costs making the prospect of improving fuel economy by trucks travellin
    Read More
  • Hong Kong's integrated traffic management system
    May 22, 2012
    Hong Kong’s Route 8 now features an extensive and advanced traffic control and surveillance system developed to overcome challenges of great scale and complexity, write Delcan vice president Rex Lee and MD Joseph Lam
    Read More
  • Turkish city deploys Samsung cameras as part of traffic management system
    November 6, 2015
    Izmir, the third most populous city in Turkey with a population in the region of 2.9m people, has deployed Samsung cameras in support of a full adaptive traffic management system, which provides real-time integrated traffic management as a means of reducing traffic jams and increasing road safety. The system, which has been has been implemented by Samsung distributor EDS Elektronik in collaboration with Mavi Güvenlik, uses Samsung SNP-6320H Full HD 32 x optical zoom PTZ speed domes installed at key locat
    Read More

Highlighted Content