Global Traffic Sensor Market 2020 Segmentation by Sensor Type(LiDAR Sensors Magnetic Sensors Image sensors Acoustic sensors Inductive loops Bending plates Piezoelectric sensors Infrared sensors Radar sensors Thermal sensors)Segmentation by Application(Traffic Monitoring Vehicle Measurement and Profiling Automated Tolling (e-toll) Weigh in Motion (WIM))(Includes Business Impact of COVID-19)

                                          
“Global Traffic sensor (UGS) Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by Trusted Business Insights. The global traffic sensor market report has been segmented on the basis of sensor type, application, and region.

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Global Traffic Sensor Market: Overview

Traffic sensors are used for monitoring, controlling and supporting traffic control and management. It is also used in weigh-in motion, speed, and other applications. Traffic sensors capture data and help to provide real time analysis. Traffic sensors are installed with transportation infrastructure and can also use with infotainment and safety applications. Traffic control systems uses various advanced technologies such as cameras, microwave radar, induction loops, layers of rubber hose.

Global Traffic Sensor Market: Dynamics

Increasing initiatives by various governments to collect data regarding environment and traffic conditions as well as medication of transportation systems is a major factor expected to drive growth of the global traffic sensor market over the forecast period. In addition, increasing urbanization, coupled with increasing number of vehicles are also anticipated to propel demand for traffic sensors and drives growth of the global market. Growing demand for real-time data regarding status of the traffic and road conditions for traffic management purpose, is another factor expected to bolster growth of the target market. Furthermore, growing demand for transportation solution based on analytics to end-users is projected to support growth of the global traffic sensor market in the near future.

However, high cost associated with traffic sensors installation and management may hamper adoption and restrain growth of the global traffic sensor market over the forecast period. Nevertheless, growing adoption of traffic sensors in emerging economies can create a lucrative opportunity for players in the target market.

Global Traffic Sensor Market: Segment Analysis

On the basis of sensor type, the radar sensors segment is expected to register significant growth rate in terms of revenue in the global market. Ability of radar sensor to work in different weather conditions is a key factor supporting growth of this segment in this global market. In addition, increasing use of radar sensors for driver assistance systems is another factor expected to fuel growth of the target segment.

On the basis of application, the traffic monitoring segment is expected to account for major share in terms of revenue over the forecast period. Increasing adoption for traffic sensors on highways and bridges for real-time monitoring is anticipated to drive growth of the segment in the target market.

Global Traffic Sensor Market: Regional Analysis

Currently, market in North America accounts for major share in terms of revenue and is expected to maintain its position in the potential market over the forecast period. Developed infrastructure and adoption of advanced technology to provide road safety and comfort to travelers are some of factors, anticipated to fuel growth of the target market in countries in the region. Market in Europe accounts for second-highest share to the global traffic sensor market in the near future. The Asia Pacific market is expected to register a significant growth rate in terms of revenue over the forecast period owing to growing road infrastructure in developing countries such as China and India in the region.

Global Traffic Sensor Market Segmentation:

Segmentation by Sensor Type:

LiDAR Sensors
Magnetic Sensors
Image sensors
Acoustic sensors
Inductive loops
Bending plates
Piezoelectric sensors
Infrared sensors
Radar sensors
Thermal sensors

Segmentation by Application:

Traffic Monitoring
Vehicle Measurement and Profiling
Automated Tolling (e-toll)
Weigh in Motion (WIM)