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

  • RTMS radar detectors for Asian Games
    March 1, 2012
    Flow Traffic Limited, the Hong Kong-based wholly owned subsidiary of Image Sensing Systems, has won a large contract to supply vehicle detection systems to the city of Guangzhou, China. The contract is part of infrastructure improvements required for the Asian Games, a major sporting event to be held in Guangzhou from 12-27 November. The project will provide real time traffic guidance and journey time information to reduce congestion and travel time during the international event.
    Read More
  • Safeguarding cities against wrong-way drivers
    June 10, 2024
    Thermal imaging and artificial intelligence analytics provide the best path towards preventing deadly auto accidents, explains Stefaan Pinck of Flir
    Read More
  • Remote remedies help US authorities identify bridge deficiencies
    September 6, 2017
    Every day 185 million vehicles – cars, trucks, school buses, emergency response units - cross one or more of America’s 55,710 'structurally compromised' steel and concrete road bridges, the highest concentration of which are in Iowa (nearly 5,000), Pennsylvania and Oklahoma. Nearly 2,000 of these crossings are located on interstate highways, according to the American Road and Transportation Builders Association's recent analysis of the US Department of Transportation's 2016 National Bridge Inventory.
    Read More
  • Container tracking systems set for major growth
    March 14, 2012
    According to a new research report from the analyst firm Berg Insight, the number of active remote container tracking units deployed on intermodal shipping containers was 77,000 in Q4-2011.
    Read More

Highlighted Content