DUBLIN--(BUSINESS WIRE)--The "Global Traffic Sensors Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
Global Traffic Sensor market is projected to grow at a CAGR of 8.02%
over the forecast period of 2017-2023.
The growth of this market is majorly attributed to increasing spending
by governments across the globe into infrastructure development.
Countries like China and Japan are also spending huge amounts into
infrastructure development which is fueling the adoption of advanced
technologies by the industry players in order to offer better traffic
management and improved security of people. This is increasing the
demand for traffic sensors, thus driving their market growth.
Growth of this market is being further driven by heavy investments by
major market players into R&D. As huge amounts continue to be pumped
into R&D, the technologies are going through continuous advancement
which is improving their efficacy and reliability, thus increasing their
adoption among the end-users.
However, corruption in many regions has been restraining the market
growth significantly. Large budget amount apportioned to infrastructure
development is not spent wisely which has been a major reason for
limited adoption of these traffic sensors.
Negligence of government officials in many regions has been another
factor restraining the growth of this market and the impact of this
factor can be expected to remain significantly strong over the projected
period.
By Type, Video Image Processors hold a significant share in this market owing to continuous improvements in cameras and other technologies constituting this technology. Infrared traffic sensors can also be seen witnessing an impressive growth in this market.
Companies Profiled
- TE Connectivity
- Swarco AG
- TrafficSensors
- Sensys Networks Inc.
- Smats Traffic Solutions Inc.
- AGD Systems
- Traffic Sensor Corporation
-
Cross Zlin A.S.
- FLIR Systems, Inc.
- International Road Dynamics Inc.
For more information about this report visit https://www.researchandmarkets.com/research/lt7f56/global_traffic?w=4
