Rockville, MD -- (SBWIRE) -- 08/01/2019 -- Transportation Sensors Market - Overview
Modern transportation systems are highly vulnerable to multiple issues, such as safety, pollution, and traffic congestion. In line with the aforementioned, modern vehicle systems seek better connectivity, which, in turn, will be instrumental to ensure operational efficiency. 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 continues to be a broad factor fuelling growth of transportation sensors market.
Transportation sensors, such as traffic sensors, passive sensors, and other types, are being integrated by leading automaker in vehicle models planned for roll out. 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.
Transportation Sensors Market - Novel Developments
Some of the key players operating in the transportation sensors market include Axis Communications Ab, Efkon Ag, Agd Systems Ltd., Diablo Controls Inc., Image Sensing Systems, Inc. (Iss), Kapsch Trafficcom Ag, Flir Systems, Inc., Kistler Group, International Road Dynamics, Inc., Jenoptik Ag, Miovision Technologies Inc., and Leddartech Inc.
In 2019, AGD Systems Ltd. - a leading player in the transportation sensors market- completed the acquisition of Radix Traffic Limited, a leading manufacturer of 'rotating cone' tactile equipment for assistance of the visually-impaired pedestrians. This acquisition is a crucial part of AGD's growth strategy and is aimed at broadening the product portfolio via combined expertise and exploring new opportunities in the intelligent traffic management space.
In 2016, Axis Communications- a key player in the transportation sensors market- completed its acquisition of Citilog, a leading provider of analytics for traffic & transportation security and other safety applications. Addition of trained personnel and advanced surveillance technologies of Citilog solidifies the 'best-of-breed' solutions of Axis. This acquisition will further aid Axis to leverage sustained opportunities in the ever-emerging traffic analytics space, thereby enabling the company to offer products for a wide-range of end user needs.
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Transportation Sensors Market - Dynamics
Transportation Sensors Market - Rapid Innovations in Automotive Industry to Complement Market Growth
Alongside some incredible innovations, the future of innovations in the automotive industry looks bright and optimistic. Sensing the ever-evolving demands of vehicle owners, leading automakers across the globe are making headway by refurbishing the conventional structures via new additions, including transportation sensors. Addition of transportation sensors doesn't just help with performance optimization, but also ensures safety and surveillance of vehicles.
Transportation Sensors Market - North America to Continue as a Highly Lucrative Region
North America will continue holding a significant share in the global transportation sensors market, backed by large-scale presence of leading manufacturers of transportation sensors in the region. Moreover, the North American automotive market continues to tread on an ever-increasing growth path, thereby upholding growth of the regional transportation sensors market.
The Asia Pacific transportation sensors market is likely to witness exponential growth over the forecast timeline, owing to sheer proliferation of digital technologies in the regional automotive landscape. Latin America is also foreseen to emerge as a lucrative region with revenue-generating opportunities for key players of transportation sensors market. Persistent efforts oriented toward smart city initiatives across the key Latin American countries is predominantly pushing the demand for smart transportation. Increasing demand for integration of connected technologies in automobiles is one among the key reasons boosting growth of MEA transportation sensors market.
Transportation Sensors Market - Surging Demand for IoT-enabled Transportation Drives Growth
The Internet of Things (IoT) has revolutionized multiple industries, with automotive being one of the most prominent ones. Demand for IoT-enabled transportations offering seamless connectivity is on a significant rise, creating optimistic grounds for growth of transportation sensors market.
Incorporation of sensors continues to be an integral part of the IoT-enabled transportation framework, wherein sensors of advanced functionalities are integrated to amplify the vehicles' operational efficiency. From parking assistance to transport management, the undeniable demand for IoT technologies in automotive space is working in favor of the companies in the transportation sensors market.
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Transportation Sensors Market: Segmentation
The global Transportation Sensors market can be segmented as:
Segmentation of the Transportation Sensors market on the basis of Sensor Type:
Inductive Loop
Piezoelectric Sensor
Bending Plate
Image Sensor
Infrared Sensor
Others
Segmentation of the Transportation Sensors market on the basis of Use:
Traffic Detection
Vehicle Identification
Motion Sensors
Speed Detection
Others
Segmentation of the Transportation Sensors market on the basis of Application:
Agricultural Vehicles
Engines
Lawn and Garden Equipment
Material Handling Equipment
Mining/Construction Vehicles
Rail
Sport Vehicles
Transmissions
Transportation Sensors Market: Competition Landscape
Key Players
Some of the major players in the global transportation sensors market are AMO, Agd Systems Ltd., Axis Communications Ab, Diablo Controls Inc., Efkon Ag, Flir Systems, Inc., Image Sensing Systems, Inc. (Iss), International Road Dynamics, Inc., Jenoptik Ag, Kapsch Trafficcom Ag, Kistler Group, Leddartech Inc., Miovision Technologies Inc., and, and other transportation sensors providers.
Transportation Sensors Market: Regional Overview
On the basis of geography, North America is expected to capture a large share in the transportation sensors market owing to the presence of various transportation sensors providers in the region. Europe is also expected to gain a substantial share in the transportation sensors market due to for smart infrastructure in the region. The transportation sensors market 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 transportation sensors market in Latin America is also expected to grow rapidly due to the continuous initiatives taken by various countries of the region towards the development of smart cities. The transportation sensors in MEA is also expected to rise rapidly due to the growing demand for utilization of connected technologies in the region.
The report covers exhaustive analysis on:
Market Segments
Market Dynamics
Historical Actual Market Size, 2013-2017
Market Size & Forecast, 2018 to 2028
Value Chain of the Market
Market Current Trends/Issues/Challenges
Competition & Companies Involved
Market Drivers and Restraints
Regional analysis for the market includes the development of the transportation sensors sin the following regions:
North America
U.S.
Canada
Latin America
Brazil
Mexico
Argentina
Chile
Peru
Rest of Latin America
Europe
EU – 4 (Germany, France, Italy, Spain)
U.K.
BENELUX (Belgium, Netherlands, Luxemburg)
NORDIC (Norway, Denmark, Iceland, Sweden)
Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
Rest of Europe
CIS & Russia
Japan
APEJ
Greater China
India
South Korea
ASEAN Countries
Rest of APEJ
Middle East and Africa
GCC Countries
Turkey
Iran
Israel
South Africa
Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation of Transportation Sensors market
Recent industry trends and developments in Transportation Sensors market
Competitive landscape of Transportation Sensors market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
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