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

  • Emissions reductions targets to have major impact on transport
    October 28, 2015
    As bold moves aimed at reducing greenhouse gas emissions have been introduced in California, David Crawford looks at the ramifications for transportation. California Governor Jerry Brown’s recent dramatic raising of the bar on emissions reduction policy for the state has won him praise from Japan, Australia, Europe and the secretariat of the critical UN conference on climate change being held in Paris in November/December 2015. His April 2015 executive order aimed at bringing emissions to 40% below 1990 lev
    Read More
  • Use of ITS technology grows more prevalent in safety applications
    January 30, 2012
    Transportation agencies and governments are using ITS technology to protect critical infrastructure from terrorist attack and other threats to economic security and public safety. Andrew Bardin Williams reports. It is no secret that we live in a potentially dangerous world. Terrorism as seen on 9/11 in the United States, subsequent attacks in London, Moscow and Madrid and other acts of violence across the developing world have made vigilance the watchword for ensuring security. Key infrastructure is now bei
    Read More
  • Upgrading Turkey's tolling system
    April 25, 2013
    A programme modernising road tolling equipment on Turkey’s national highway network has resulted in what is arguably Europe’s most advanced toll system, reports Jon Masters. Turkey has introduced a new system of technology for charging for use of its 2000km national highway network, heralded as the first full-scale use of passive RFID tags for electronic open road tolling in Europe. The new ‘Fast Passing System’ (HGS) is an upgrade of Turkey’s existing Automatic Passing System (OGS) technology, which uses
    Read More
  • Huawei’s clearer vision for safe traffic
    August 4, 2020
    Rates of compliance with traffic laws are often linked to the chances of detection. Andrew Watson explains how intelligent traffic management solutions can help change drivers’ behaviour
    Read More

Highlighted Content