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

  • IntelliDrive, connectivity, safety, mobility and the environment?
    January 30, 2012
    Shelley Row, Director of the ITS Joint Program Office, US Department of Transportation, details the new five-year ITS Strategic Research Plan. Imagine a world where vehicles of all types can talk to each other in order to reduce or eliminate crashes, where vehicles can talk to traffic signals to eliminate unnecessary stops, where travellers can get accurate travel time information about all modes and route options, and where transportation managers have data which allows them to accurately assess multimodal
    Read More
  • Agencies in pursuit of high-speed WIM accuracy
    April 20, 2017
    Alan Dron looks at where WIM is heading in the near future. As Weigh-In-Motion (WIM) systems grow in sophistication and accuracy, they are increasingly being used in more active roles to help ensure road safety through enforcement action against overweight vehicles.
    Read More
  • MDOT uses connected vehicle technology to clear snow and ice
    January 9, 2017
    Connected vehicle technology is helping Michigan Department of Transportation (MDOT) clear snow and ice from roadways faster, using GPS-based automatic vehicle location (AVL) devices on its winter road maintenance equipment. These systems report where each truck is, and they gather data from other sensors to report details like atmospheric conditions, camera images, and speed and salt application rates for each vehicle.
    Read More
  • Road user charging comes a step closer in Oregon
    December 19, 2017
    Having been the first US state to introduce the gas tax a century ago, Oregon is now blazing the road user charging trail. Colin Sowman looks at progress to date. For more than a decade, authorities in Oregon have known of the impending decline in fuels tax income and while revenue increased by more than 5% in 2016, that growth will slow considerably this year and income is projected to start declining in 2020.
    Read More

Highlighted Content