economies such as India, China, and Brazil. This demands for traffic sensors to manage
road traffic by minimizing congestion. Therefore, traffic sensors can be deployed to
ensure optimal utilization of existing roadways. For instance, intelligent transportation
systems (ITS) aimed to provide traffic analysis, electronic surveillance along with
improved safety, and minimizing pollutant emissions. According to Organization
Internationale des Constructeurs d'Automobiles or OICA, around 1.28 billion units of
vehicles were in use in 2015 worldwide as compared to 1.23 billion vehicles in 2014.
Hence, increasing vehicle parc would lead to proportional increase in road traffic. Traffic
sensor is a systematic solution for the prevention of this issues.
Traffic Sensor Market: Regional Insights
The global traffic sensor market has been segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America
accounted for the largest share in the global traffic sensor market in 2016. The U.S. is
the major growth engine in North America market, owing to increasing initiatives from
the U.S. government towards improvement of transportation infrastructure and
implementation of intelligent transportation systems (ITS). For instance, the America's
Surface Transportation Act or "FAST Act" was implemented in 2015 to solve road traffic
congestion issues, enhance transportation within the country, improve working
efficiencies in transportation systems and commercial vehicles, and minimize vehicle
emissions.
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Traffic Sensor Market: Competitive Background
Major players operating in the global traffic sensor market include EFKON AG, Kapsch
TrafficCom AG, TransCore, International Road Dynamics, Inc., Kistler Group, Flir Systems,
Inc., TE Connectivity Ltd., SWARCO AG, Q-Free ASA, SICK AG, Axis Communications AB,
Raytheon Company, and Siemens AG.
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