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

  • Profitable niches in the electric vehicles market
    December 18, 2015
    Vehicles are electrifying at a breakneck speed and they are being completely reinvented with developments in many components and systems, according to a report by IDTechEx Research. Disruptive change and significant technological innovation is now being seen across all forms of electric vehicles for land, water and air. The fruits of all this are spectacular – from the vehicles themselves to over US$500 billion market opportunity that will be created by 2026. IDTechEx Research analyses and forecasts eve
    Read More
  • Don’t drive drunk – or use a hands-free phone
    August 29, 2019
    Despite law changes, drivers’ bad habits have been creeping back in. TRL’s Dr Shaun Helman tells Adam Hill why using a phone at the wheel is just as distracting as driving after a few drinks esearch from as far back as 2002 (see box) suggests that driving while making a phone call – either hands-free or holding a handset to your ear – creates the same amount of distraction as being drunk behind the wheel. While it is notoriously hard to predict how alcohol will affect an individual (due to the speed of
    Read More
  • Teledyne Flir: here’s how to find the right ITS camera
    January 4, 2022
    From lighting to weather, there are so many elements which need to be taken into account when choosing a camera for ITS operations. Riana Sartori from Teledyne Flir offers a buyer’s guide
    Read More
  • TransCore to develop bay area express lane network
    October 7, 2014
    TransCore is to develop, integrate, and maintain a network of express lanes on behalf of San Francisco’s Metropolitan Transportation Commission’s (MTC) Bay Area Infrastructure Financing Authority (BAIFA). The competitively procured US$54.6 million project will see 90 miles of existing high occupancy vehicle (HOV) converted lanes into express lanes on I-680, I-880 and I-80. The aim is to improve connectivity by closing gaps in the existing HOV network and improve freeway efficiency by making the best use
    Read More

Highlighted Content