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Traffic Sensors Market Trends

Report ID: GMI7099
Published Date: Oct 2023
Report Format: PDF

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Traffic Sensors Market Trends

The adoption of edge computing and real-time analytics is a growing trend in the traffic sensor market. Instead of sending all data to a central server, edge computing processes data closer to the source (i.e., at the sensor or in nearby edge devices). This trend reduces latency, enhances responsiveness, and enables real-time decision-making for traffic management, allowing for faster response to traffic incidents and congestion. Their benefits and gradual adoption in various industries will boost market growth in the coming years.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The global market size for traffic sensors was valued at USD 701.1 million in 2023 and is estimated to register over 12.5% CAGR between 2024 and 2032, driven by rising investments in smart city projects to improve urban infrastructure.

Piezoelectric traffic sensors market size will reach over 515 million by 2032, owing to their versatile applications.

North America market held over 35% revenue share in 2023 and will gain traction by 2032, owing to their utility in monitoring traffic flow, reducing congestion, and enhancing safety.

Efkon AG, Axis Communications AB, FLIR Systems, International Road Dynamics Inc, Kapsch Trafficcom AG, Kistler Group, and Leddartech among others.