According to a new market report by Lucintel, the future of the global traffic sensor market looks promising with opportunities in the transportation industry. The global traffic sensor market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow with a CAGR of 9% from 2020 to 2025. The major growth drivers for this market are government Initiatives to improve transportation infrastructure and increasing urbanization and population.
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In this market, inductive loop, piezoelectric sensors, bending plates, image sensors, infrared sensors, radar sensors, lidar sensors, and magnetic sensors are the major product types.
Within this market, traffic monitoring is expected to witness the highest growth over the forecast period because the increasing number of passenger cars is driving the need for advanced and optimized traffic management systems.
North America will remain the largest region over the forecast period due to the presence of the highest urbanized landscapes in the world.
Kistler Group, Flir Systems Inc., TE Connectivity Ltd, SICK AG, Axis Communications AB, Raytheon Company, and Siemens are among the major manufacturers of the global traffic sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global traffic sensor market by product type, technology, application, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Traffic Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data on the trends and forecast for the global traffic sensor market by product type, technology, application, and region as follows:
By Product Type [$M shipment analysis for 2014 – 2025]:
Inductive Loop
Piezoelectric Sensors
Bending Plates
Image Sensors
Infrared Sensors
Radar Sensors
LiDAR Sensors
Magnetic Sensors
Others
By Technology [$M shipment analysis for 2014 – 2025]:
By Application [$M shipment analysis for 2014 – 2025]:
Vehicle Measurement & Profiling
Weigh in Motion
Traffic Monitoring
Automated Tolling
Others
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
China
Japan
India
South Korea
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.