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.
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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.
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.
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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.
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