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

  • Highways England gets a single view of severe weather information
    October 25, 2016
    Highways England has launched a US$6 million (£5 million) integrated weather information system developed by the Civica Group, to enable better management of the nation’s main roads during times of severe weather and to support its aims of keeping the road network free-flowing and safe. Developed by IPL, part of Civica’s digital solutions business, and incorporating Exactrak vehicle navigation and reporting technology, the severe weather information service (SWIS) brings together critical information o
    Read More
  • Probe-generated traffic information provides real time traffic information
    November 27, 2014
    PT Marga Utama Nusantara, a toll road management company in Indonesia is using Fujitsu’s SPATIOWL traffic information service, a cloud service that utilises location information, to collect probe data such as vehicle location, time and speed, and generates and accumulates traffic information, such as congestion conditions and their duration. Indonesia’s increase in traffic due to population growth and rapid economic development has intensified the problems of traffic congestion and frequent traffic accid
    Read More
  • PTV provides precise data on Paris traffic
    July 31, 2023
    GPS location of vehicles travelling around French capital will be used to ease congestion
    Read More
  • US braces itself for congestion pain
    February 6, 2020
    Mary Scott Nabers, author of Inside the Infrastructure Revolution: A Roadmap for Building America, looks at how different US states are embracing the need for public transport investment
    Read More

Highlighted Content