Traffic Sensor Market

Kapsch TrafficCom AG (Austria) and International Road Dynamics, Inc. (Canada) are the Top 2 Players in the Traffic Sensor Market

The traffic sensor market is driven by several factors such as the growing need for real-time information systems, government initiatives to modify the transport infrastructure, and the increasing urbanization and population. The traffic sensor market is likely to grow from USD 228.0 Million in 2017 to USD 381.3 Million by 2023, at a CAGR of 8.94% during the forecast period.

Various countries in APAC, such as Japan, China, and Australia, have started addressing the traffic issues using traffic sensors for several purposes such as resolving traffic congestion, automation of tolls, vehicle detection, traffic control, and traffic management. The market in APAC has a high growth potential. The demand for traffic sensors in APAC is significantly driven by the strong economic growth, rising population, and rapid urbanization.

The major opportunity for this market is the adoption of analytics-based transport solutions. Some of the major players operating in the traffic sensor market include Kapsch TrafficCom AG (Austria), International Road Dynamics, Inc. (Canada), FLIR Systems, Inc. (US), TE Connectivity Ltd. (Switzerland), and Kistler Group (Switzerland).

Top 2 players in the traffic sensor market

Kapsch TrafficCom is one of the leading providers of products related to traffic management. It is focused on partnering with various governments and regional authorities to provide traffic solutions for road transportation, parking issues, V2X communication, road safety, and traffic management, among others. Kapsch TrafficCom is a well-known brand in the European market and also has many opportunities in APAC countries, namely Australia, Japan, China, and India. The company is continuously expanding its horizon by signing new contracts, opening new subsidiaries and business units, and acquiring other companies. In April 2016, Kapsch TrafficCom announced the closing of the acquisition of Schneider Electric’s (France) transportation business. With the acquisition of Schneider Electric’s “transportation” business (KTT), Kapsch TrafficCom expanded its network of R&D centers.

International Road Dynamics majorly focuses on innovations and specially designed technologies. The company’s products are designed and built by a multidisciplinary, customer-focused team, which fuses core IRD technology with integrated computing and communications technologies. From 35 years, the company has been recognized many times as one of the leaders in the design and installation of customized solutions in the intelligent transportation systems (ITS) industry. The company has a huge customer base with long-term contracts. To maintain its position in the competitive market, the company is continuously offering its products and solutions to its existing as well as new customers across the globe.

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Traffic Sensor Market by Type (Inductive Loop, Piezoelectric Sensor, Bending Plate, Image Sensor, Infrared Sensor, Radar Sensor, LiDAR Sensor, Magnetic Sensor, Acoustic Sensor, and Thermal Sensor), Application, and Geography - Global Forecast to 2023

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Report Code
SE 5475
RI Published ON
8/3/2017
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