Transportation Sensors Market Share & Growth | Forecast 2031
Transportation Sensors Market Share & Growth | Forecast 2031
Segments - Transportation Sensors Market by Sensor Type (Piezoelectric, Inductive Loop, Image Sensor, Bending Plate, Infrared Sensor, and Others), Use (Vehicle Identification, Speed Detection, Traffic Detection, Motion Sensors, and Others), Application (Railway, Mining/Construction Vehicles, Heavy Equipment, Agricultural Vehicles, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Upcoming
| Report ID :AL-4956
| 4.6 Rating
| 69 Reviews
| 210 Pages
| Format :
Report Description
The global transportation sensors market size was USD 605.5 Mn in 2022 and is likely to reach USD 1.21 Bn by 2031, expanding at a CAGR of 7.2% during 2023–2031. The market growth is attributed to the rising adoption of traffic sensors for effective traffic control, monitoring, and management.
Transportation sensors are devices primarily designed to facilitate safety and easy management of a transportation system. The sensors detect physical input of environment such as motion, light, and heat and convert into electronic data, which can be easily interpreted by a machine for better transportation systems and analytics.
Piezoelectric, inductive loop, image sensor, and infrared sensor are major types of sensors used by various transportation management systems for effective handling of traffic congestion, safety, and pollution. A smart transportation or intelligent transportation systems requires using these sensors in vehicles and other transport infrastructure to ensure optimal driver safety and pedestrian both.
COVID-19 Impact on Transportation Sensors Market
The market report finds that the COVID-19 pandemic adversely impacted the global transportation sensors market due to the plummeted production of commercial and passenger vehicles worldwide. The overall production delay in the automotive industry and sharp decline in use of vehicles were the results of movement restrictions and travel bans imposed by governments across the globe.
Transportation Sensors Market Dynamics
The global transportation sensors market report has up-to-date insights about market scenarios that can shape the overall market performance and condition during the forecast period, 2023 to 2031.
What are the Drivers of Transportation Sensors Market?
The massive expansion in traffic volume causes several problems in transportation system such as traffic congestion and delays, high carbon emissions, road accidents, and fuel wastage. This leads to the massive financial loss for countries and vehicle owners due to traffic jams and transport delays. Using sensors help in the traffic management and can avoid traffic congestion, which presents a key driver of the market.
What Restraints Transportation Sensors Market?
High cost of installation and maintenance of transportation sensor is a major restraining factor that is likely to hamper the market expansion in the coming years. The installation comes with various highly expensive software and solutions that offer accurate data measurement and transportation analytics.
What are the Opportunities in Transportation Sensors Market?
Rapid advancement in IT solutions for better connectivity and operational effectiveness of traffic sensor is creating lucrative opportunities for transportation sensor manufacturing companies. The rising use of the Internet of Things (IoT) and smart digital components in smart transportation system provide accurate analytical assistance and effective signal conditions.
Scope of Transportation Sensors Market Report
The global transportation sensors market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Transportation Sensors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016–2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Sensor Type (Piezoelectric, Inductive Loop, Image Sensor, Bending Plate, Infrared Sensor, and Others), Use (Vehicle Identification, Speed Detection, Traffic Detection, Motion Sensors, and Others), and Application (Railway, Mining/Construction Vehicles, Heavy Equipment, Agricultural Vehicles, and Others) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Axis Communications AB; AGD Systems; TE Connectivity; Image Sensing Systems, Inc.; International Road Dynamics Inc.; EFKON GmbH; Kapsch TrafficCom AG; Diablo Controls, INC.; and Teledyne FLIR LLC |
Transportation Sensors Market Segment Insights
What Drives the Image Sensor Segment?
Based on sensor type, the transportation sensors market is divided into piezoelectric, inductive loop, image sensor, bending plate, infrared sensor, and others.
The image sensor segment is expected to expand at a significant growth rate during the projection period owing to the wide adoption of the sensor type for vehicle identification and location. This sensor is widely used in CCTV camera used for regulation traffic in public places.
Why is Traffic Detection in High Demand?
On the basis of use, the global market is segregated into vehicle identification, speed detection, traffic detection, motion sensors, and others.
The traffic detection segment is projected to register a considerable CAGR during the forecast period due to the rising demand for automatic driving systems for better traffic assistance. The traffic detection uses a wide range of devices that help in easy detecting and recognizing traffic signs, leading to better transportation management systems.
What Are the Factors Boosting the Heavy Equipment?
On the basis of application, the transportation sensors market is segmented into railway, mining/construction vehicles, heavy equipment, agricultural vehicles, and others.
The heavy equipment segment is expected to register a robust growth rate during the forecast period owing to the rising demand for heavy vehicles, impacted by the growing number of construction activities in urban areas. The integration of advanced sensors enhances operational efficiency in construction and ensures safety during the operation of these vehicles.
How is North America Dominating the Market?
In terms of region, the global transportation sensors market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America is expected to dominate the market during the projection period owing to the wide adoption of advanced traffic sensor for intelligent traffic management system. The presence of key global manufacturers of traffic sensor and rising demand for agricultural vehicles and heavy construction equipment, especially in the US further boost the regional market.
The market of Asia Pacific is projected to register a high CAGR during the forecast period owing to the increasing development of smart city projects and rising governments’ spending on intelligent transportation infrastructures. The rapid expansion of the automotive industry and increasing integration of digital technologies in construction vehicles further fuel the regional market.
Segments
The global transportation sensors market has been segmented on the basis of
Sensor Type
- Piezoelectric
- Inductive Loop
- Image Sensor
- Bending Plate
- Infrared Sensor
- Others
Use
- Vehicle Identification
- Speed Detection
- Traffic Detection
- Motion Sensors
- Others
Application
- Railway
- Mining/Construction Vehicles
- Heavy Equipment
- Agricultural Vehicles
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Axis Communications AB
- AGD Systems
- TE Connectivity
- Image Sensing Systems, Inc.
- International Road Dynamics Inc.
- EFKON GmbH
- Kapsch TrafficCom AG
- Diablo Controls, INC.
- Teledyne FLIR LLC
Competitive Landscape
Key players competing in the market are Axis Communications AB; AGD Systems; TE Connectivity; Image Sensing Systems, Inc.; International Road Dynamics Inc.; EFKON GmbH; Kapsch TrafficCom AG; Diablo Controls, INC.; and Teledyne FLIR LLC.
These major companies adopt various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share. For instance,
-
On September 14, 2022, Image Sensing Systems Inc. (ISS) announced its partnership with Butterfly Junction Technologies to elevate ISS’ ground RTMS radar technology for the intelligent transportation systems market.
-
On June 13, 2022, AGD Systems launched its inbuilt Artificial Intelligence (AI) product, AGD650, which is a dual-lane stop-line detector with potential data capabilities to upgrade real-time detection of traffic conditions.
Frequently Asked Questions
The global transportation sensors key market players are AGD Systems; TE Connectivity; Image Sensing Systems, Inc.; International Road Dynamics Inc.; Kapsch TrafficCom AG; Diablo Controls, INC.; and Teledyne FLIR LLC.
For regional analysis, North America is expected to dominate the market during the projection period owing to the wide adoption of advanced traffic sensor for better traffic monitoring.
The key driver of the market is the rising adoption of traffic sensors for effective traffic control, monitoring, and management.
The global transportation sensors market size was USD 605.5 Mn in 2022 and is likely to reach USD 1.21 Bn by 2031.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Transportation Sensors Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Transportation Sensors Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Transportation Sensors Market - Supply Chain
4.5. Global Transportation Sensors Market Forecast
4.5.1. Transportation Sensors Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Transportation Sensors Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Transportation Sensors Market Absolute $ Opportunity
5. Global Transportation Sensors Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Transportation Sensors Market Size and Volume Forecast by Applications
5.3.1. Railway
5.3.2. Mining/Construction Vehicles
5.3.3. Heavy Equipment
5.3.4. Agricultural Vehicles
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Transportation Sensors Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Transportation Sensors Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Transportation Sensors Demand Share Forecast, 2019-2026
7. North America Transportation Sensors Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Transportation Sensors Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Transportation Sensors Market Size and Volume Forecast by Applications
7.4.1. Railway
7.4.2. Mining/Construction Vehicles
7.4.3. Heavy Equipment
7.4.4. Agricultural Vehicles
7.4.5. Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Transportation Sensors Demand Share Forecast, 2019-2026
8. Latin America Transportation Sensors Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Transportation Sensors Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Transportation Sensors Market Size and Volume Forecast by Applications
8.4.1. Railway
8.4.2. Mining/Construction Vehicles
8.4.3. Heavy Equipment
8.4.4. Agricultural Vehicles
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Transportation Sensors Demand Share Forecast, 2019-2026
9. Europe Transportation Sensors Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Transportation Sensors Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Transportation Sensors Market Size and Volume Forecast by Applications
9.4.1. Railway
9.4.2. Mining/Construction Vehicles
9.4.3. Heavy Equipment
9.4.4. Agricultural Vehicles
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Transportation Sensors Demand Share Forecast, 2019-2026
10. Asia Pacific Transportation Sensors Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Transportation Sensors Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Transportation Sensors Market Size and Volume Forecast by Applications
10.4.1. Railway
10.4.2. Mining/Construction Vehicles
10.4.3. Heavy Equipment
10.4.4. Agricultural Vehicles
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Transportation Sensors Demand Share Forecast, 2019-2026
11. Middle East & Africa Transportation Sensors Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Transportation Sensors Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Transportation Sensors Market Size and Volume Forecast by Applications
11.4.1. Railway
11.4.2. Mining/Construction Vehicles
11.4.3. Heavy Equipment
11.4.4. Agricultural Vehicles
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Transportation Sensors Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Transportation Sensors Market: Market Share Analysis
12.2. Transportation Sensors Distributors and Customers
12.3. Transportation Sensors Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Axis Communications AB
12.4.2. AGD Systems
12.4.3. TE Connectivity
12.4.4. Image Sensing Systems, Inc.
12.4.5. International Road Dynamics Inc.
12.4.6. EFKON GmbH
12.4.7. Kapsch TrafficCom AG
12.4.8. Diablo Controls, INC.
12.4.9. Teledyne FLIR LLC
Methodology
Related Reports
Some other reports from this category!
Our Clients
