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

  • Flexible, demand-based parking charges ease parking problems
    April 10, 2012
    Innovative parking initiatives on the US Pacific Coast. David Crawford reviews. Californian cities are leading the way in trialling new solutions to their endemic parking problems. According to Donald Shoup, a professor of urban planning at the University of California in Los Angeles, drivers looking for available spots can cause up to 74% of traffic congestion in downtown areas. One solution is variable, demand-responsive pricing of parking.
    Read More
  • Flexible, demand-based parking charges ease parking problems
    April 10, 2012
    Innovative parking initiatives on the US Pacific Coast. David Crawford reviews. Californian cities are leading the way in trialling new solutions to their endemic parking problems. According to Donald Shoup, a professor of urban planning at the University of California in Los Angeles, drivers looking for available spots can cause up to 74% of traffic congestion in downtown areas. One solution is variable, demand-responsive pricing of parking.
    Read More
  • ISO standard aids interoperability and data security
    March 30, 2017
    Star Systems International’s Stephen Lockhart, explains how ISO 18000-6C can boost both interoperability and data security in RFID tolling applications. As more states, municipalities and agencies deploy electronic tolling solutions to generate funds and reduce congestion at tollbooths, there have been increased calls for standardisation in the industry.
    Read More
  • Cost Benefit: Utah traffic light scheme pays dividends
    March 15, 2019
    A traffic signal control scheme in Utah is being taken up by other US authorities. David Crawford finds out how the Beehive State is leading the way in DoT and driver savings Growing numbers of US state departments of transportation (DoTs) and their road users are gaining real financial benefits from an advanced approach to traffic signal monitoring recently developed in Utah. Central to the system is its use of automated traffic signal performance measures (ATSPM) technology, brought in to improve th
    Read More

Highlighted Content