Global Traffic Sensors Market Study 2018-2023 - Increasing Spending by Governments Across the Globe Into Infrastructure Development is Driving Demand - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 5, 2018--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 ProfiledTE ConnectivitySwarco AGTrafficSensorsSensys Networks Inc.Smats Traffic Solutions Inc.AGD SystemsTraffic Sensor CorporationCross Zlin A.S. FLIR Systems, Inc.International Road Dynamics Inc.
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PUB: 12/05/2018 04:33 AM/DISC: 12/05/2018 04:33 AM