Transportation Sensors Market

Transportation Sensors Market Outlook (2022-2032)

Transportation sensors mainly avail the flow of direction change for lanes in terms of traffic demands. Optimal driver safety and support are given by these sensors. There is a high vulnerability associated with modern transport systems that include various issues such as safety, pollution, and congestion driven by traffic. These sensors seek better connectivity and ensure operational effectiveness.

Automakers are integrating in-vehicle transportation sensors and their subsequent applications in multiple areas, including infotainment, traffic management, safety, and others. Major advancements and developments in the global automotive space continue to be a broad factor fuelling the growth of the market.

Transportation sensors, such as traffic sensors, passive sensors, and other types, are being integrated by the leading automaker in vehicle models planned for rollout. Integration of advanced sensor technologies offers a plethora of benefits, such as reduced costs, risk mitigation, and damage prevention, along with analytical assistance that helps with seamless information gathering and processing.

The global market for transportation sensors is valued at USD 608.99 Million in 2022. The market is anticipated to grow with a CAGR of 7.5% in the forecast period owing to which it is expected to cross the valuation of USD 1255.15 Million by end of 2032.

Report Attributes	Details
Market size (2022 A)	USD 608.99 Million
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 1255.15 Million
Global Market Growth rate (2022-2032 E)	CAGR of 7.5%
Key Companies Profiled	Axis Communications Ab Efkon Ag Agd Systems Ltd. Diablo Controls Inc. Image Sensing Systems, Inc. (Iss) Kapsch Trafficcom Ag Flir Systems, Inc

What are the drivers of demand in the market?

“Rapid innovation in the automobile sector to complement the market growth.”

The automobile industry is home to some very amazing discoveries, and the future of those developments appears promising. Leading automakers throughout the world are making progress by renovating traditional structures with new elements, such as transportation sensors, in response to the constantly changing wants of vehicle customers. The addition of transportation sensors ensures vehicle safety and oversight in addition to aiding in performance optimization.

Automotive is one of the most notable industries that the Internet of Things (IoT) has transformed. The market for transportation sensors is expected to grow as a result of the huge increase in demand for IoT-enabled vehicles that provide seamless connectivity.

The IoT-enabled transportation framework continues to include the incorporation of sensors, where sensors with advanced functionalities are integrated to increase the operational efficiency of vehicles. Companies in transportation sensors manufacturing are benefiting from the undeniable demand for IoT technologies in the automotive space, which range from parking assistance to transportation management.

What are the challenges ahead for manufacturers?

The high cost involved in the installation and maintenance of sensors is a major hindrance ahead of companies in this sector. The effectiveness of these sensors faces issues with the speed and directions of vehicles. The cost of non-intrusive sensors compared to road technologies provide data measurement. The rise in cost impedes sensor distribution and will likely limit the application.

Segment wise Insights

Image sensors are likely to remain dominant in this market in the forecast period. The largest share is expected in this segment owing to the need for images seen from cameras on the road. These images are used for locating the cars or vehicles located behind it. This helps in the identification of distance for safety between two vehicles. This sensor can be used in traffic signal controllers due to its compact size. Image sensors offer high sensitivity and poor light conditions. High-speed imaging has the capacity of better daytime imaging to ensure better imaging.

Vehicle identification is the dominant usage of these sensors. Moreover, traffic management is also an area of application for these sensors. The Motion sensors are anticipated to gain a major share in the forecast period. The speed detectors helping in reducing incidences of accidents in the forecast period are anticipated to gain a major share in this market.

Regional Outlook

On the basis of geography, North America is expected to capture a large share of the market owing to the presence of various transportation sensor providers in the region. Europe is also expected to gain a substantial share of the market due to smart infrastructure in the region.

The transportation sensors industry in Asia Pacific is expected to register a high growth rate during the forecast period owing to the rise in digital technologies in infrastructure technologies and rapid urbanization in various countries of the region.

Moreover, the market in Latin America is also expected to grow rapidly due to the continuous initiatives taken by various countries of the region toward the development of smart cities. The transportation sensors in MEA are also expected to rise rapidly due to the growing demand for the utilization of connected technologies in the region.

North America will continue holding a significant share in the global transportation sensors industry, backed by the large-scale presence of leading manufacturers of conveyance sensors in the region. Moreover, the North American automotive market continues to tread on an ever-increasing growth path, thereby upholding the growth of the regional market.

Due to the vast amount of digital technologies being used in the region's automotive industry, the market for such sensors in the Asia Pacific region is expected to experience exponential growth over the forecast period. Key players in the market are anticipated to find chances in Latin America to generate income. The need for smart transportation is mostly driven by persistent projects focused on smart cities in important Latin American countries. One of the main factors driving the growth of the MEA arcade is the rising demand for the integration of connected technologies in autos.

Transportation Sensors Market : Segmentation

• By Sensor Type :

  • Inductive Loop
  • Piezoelectric Sensor
  • Bending Plate
  • Image Sensor
  • Infrared Sensor
  • Others

• By Use :

  • Traffic Detection
  • Vehicle Identification
  • Motion Sensors
  • Speed Detection
  • Others

• By Application :

  • Agricultural Vehicles
  • Engines
  • Lawn and Garden Equipment
  • Material Handling Equipment
  • Mining/Construction Vehicles
  • Rail
  • Sport Vehicles
  • Transportation

• By Region :

  • North America
  • Latin America
  • Europe
  • CIS & Russia
  • Japan
  • Asia - Pacific excluding Japan (APEJ)
  • Middle East & Africa (MEA)