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

  • Debating the future development of ANPR
    July 31, 2012
    What future is there for automatic number plate recognition? Will it be supplanted by electronic vehicle identification, or will continuing development maintain the technology's relevance? In recent years, digitisation and IP-based communication networks have allowed Automatic Number Plate Recognition (ANPR) to achieve ever-greater utility and a commensurate increase in deployments. But where does the technology go next - indeed, does it have a future in the face of the increasing use of, for instance, Dedi
    Read More
  • Centralised traffic control, managing changing traffic demands
    January 23, 2012
    Paul van Koningsbruggen and Dave Marples of Technolution BV describe, using a national example from the Netherlands, how smart add-ons to traffic control centres combine to increase cross-centre capabilities and cost-efficiency. Increasingly, traffic management is becoming the natural partner of the civil engineer, improving flows over existing infrastructure to deliver an alternative to laying more blacktop. As in any emerging market, the first steps towards mature traffic management have not necessarily r
    Read More
  • Abu Dhabi seeks safe and efficient multi-modal ITS solutions
    December 17, 2014
    Abu Dhabi’s Department of Transport is planning to roll out its second phase ITS Strategy and Action Plan through to 2019 which will deploy a host of innovative multimodal ITS solutions. The United Arab Emirates (UAE) is continuing to experience rapid growth in both its economy and population and none more so than its capital, Abu Dhabi. To cope with the current expansion, and in anticipation of future growth, the Abu Dhabi Surface Transport Master Plan has been devised by its Department of Transport and th
    Read More
  • The benefits of combining enforcement and traffic management
    February 27, 2013
    Jason Barnes considers how combining enforcement equipment with other traffic management technologies might benefit our future – if only the will were really in place to do so. During the ITS World Congress in Vienna in October last year, Navtech Radar and Vysion­ics ITS announced a strategic partnership that would combine the expertise of Navtech in millimetre-wave wide-area surveillance technology with Vysionics’ machine vision-based automatic number plate recognition (ANPR) and average speed measurement
    Read More

Highlighted Content