The Traffic Sensor Market is estimated to be valued at USD 566 million in 2021 and reach USD 809 million by 2026, at a CAGR of 7.4%. The growing need for real-time information system, and government initiative to upgrade transport infrastructure are the key factors driving the growth of the market. Likewise, Growth in cycling infrastructure leading to higher adoption of bicycle counting sensors in Traffic Sensor Market are expected to create lucrative opportunities for the players in the Traffic Sensor Market. However, high cost and fulfilment of fundamental requirements for the installation of nonintrusive sensors are expected to restraint market growth.

In 2020, the Traffic Sensor Market was dominated by EFKON (Austria), Siemens (US), International Road Dynamics (Canada), Kapsch TrafficCom (Austria), and Q-Free ASA (Norway). The major strategies adopted by the top 5 Players in the Traffic Sensor Market included product launches and developments, collaborations, and acquisitions which helped them to innovate on their product offerings and broaden their customer base.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162500361

Top 2 Players in the Traffic Sensor Markets are:

EFKON (Austria)

One of the major companies in the Traffic Sensor Market, EFKON AG, is a subsidiary of STRABAG SE (Austria), which was founded in 1994 and is headquartered in Raaba, Austria. STRABAG SE is one of the leading construction companies in Europe. The company provides civil engineering, building and road construction, project development, tunneling, and other services. The company and its subsidiaries often work on motorways, schools, and power plants.

EFKON AG has a significant focus on all major electronic tolling technologies and also provides customized turnkey solutions. The company is also engaged in financing, design, construction, operation, and maintenance of toll plazas and provides training programs for various personnel, ranging from toll plaza operators to administration managers. In addition, the company provides system integration and consulting engineering services as well as support services for software and hardware systems

Recent Developments

In Augest 2020, an agreement between EFKON AG and Varanasi Smart City Limited (VSCL), where EFKON India will be solely responsible for helping Varanasi Smart City Limited (VSCL) with the design, development, implementation and maintenance of the implementation of advance surveillance system across Varanasi for a period of at least 5 years following Go-Live was signed.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=162500361

Siemens (US)

Siemens is a globally operating technology company with core activities in the fields of electrification, automation, and digitalization. It is one of the worlds leading manufacturers focused on digital industry, infrastructure, mobility, and healthcare segments.

Siemens offers solutions and services that have been classified into specific business units for product categories under power and gas, wind power and renewables, energy management, building technologies, digital factory, mobility, process industries and drives, healthcare, and financial services. The company operates through six business divisions: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, Siemens Financial Services (SFS), and Portfolio Companies (POS). Through its Mobility segment, the company offers its traffic sensors, and intelligent transportation system (ITS) products and solutions in the market. The Mobility division encompasses all of Siemens passenger and freight transportation businesses, including rail vehicles, rail automation systems, rail electrification systems, road traffic technology, digital solutions, and related services.

Recent Developments

In October 2021, Siemens Mobility division acquired Sqills, a leading Software as a Service (SaaS) provider of inventory management, reservation, and ticketing software. The acquisition is intended to advance Siemens strategy of increasing public transportation availability, capacity, and utilization.
Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/traffic-sensor-market-162500361.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/ResearchInsight/traffic-sensor-market.asp