Global Transportation Sensor Market Size, Share, and COVID-19 Impact Analysis, By Type (Piezoelectric Sensors, Inductive Loop Sensors, Magnetic Sensors, Infrared Sensors, Image Sensors & Others), By Technology (2D Sensor, 3D Sensor, RFID, GSM & Others), By Application (Vehicle Measurement and Profiling, Weigh in Motion, Traffic Monitoring, Automated Tolling (E-Toll)) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2028

KEY MARKET INSIGHTS

The Transportation Sensor Market was valued at USD 0.6 Bn in 2021. The market is projected to grow USD 1.9 Bn in 2028, at a CAGR of 7.4%. Transportation sensors are that sensors associated with embedded algorithms, signal conditioning and digital interface make up. Transportation sensors allow for the collection of precise environmental data with minimal noise. These sensors are used in IT applications such as analytics and machine-to-machine communication. The market will rise due to increased development and usage of IoT (Internet of Things). Multiple challenges, such as safety, pollution, and traffic congestion, make modern transportation networks extremely vulnerable. As previously said, new vehicle systems seek improved communication, which will be critical in ensuring operating efficiency. In-vehicle transportation sensors and their applications are being integrated by automakers in a variety of areas, including entertainment, traffic management, safety, and others.

Intelligent transportation systems (ITS), for example, were designed to provide traffic analysis, electronic surveillance, increased safety, and lower pollutant emissions. This necessitates the use of transportation sensors to manage road traffic and reduce congestion. Growing traffic volume is one of the primary reasons projected to drive the global transportation sensor market forward. Furthermore, in growing economies such as India, China, and Brazil, a lack of effective highways in urban, intercity, and rural areas is a key cause of excessive road traffic. As a result, transportation sensors can be used to ensure that existing roads are used to their full potential.

COVID-19 ANALYSIS

The global transportation sensor market is negatively impacted with the outbreak of COVID-19. The outbreak's consequences and impact are expected to intensify in the coming months as the virus spreads. Several governments of few countries are considering national-level lockdowns as a viable means of controlling viral transmission. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdown, temporary shutdown, social distancing, caused disruption in production of raw materials and in turn increased costing of raw materials. Shipments of raw materials, as well as revenue produced have fallen. Furthermore, insufficient raw material supply will limit the rate of transportation sensor, influencing the management of the transportation sensor supply chain. This chain of occurrences is expected to have a negative influence on the growth of the transportation sensor market in the future years.

LATEST TREND

Rapid innovations in the automotive industry

The transportation sensors market is expected to develop for rapid astounding breakthroughs in the automotive sector and growing opportunities for vehicle manufacturers for advanced vehicles. Furthermore, rising demand for IoT-enabled transportation, as well as a wide range of transportation sensor applications in automotive, railway, heavy equipment, aerospace, and other industries, are likely to propel the transportation sensors market forward.

DRIVING FACTORS

Increasing demand for Autonomous Driving

The advent of self-driving vehicles is likely to have a significant impact on the global transportation market. With features like lane monitoring, emergency braking, stability controls, and others, ADAS technology has considerably decreased the complexity of driving. LiDAR, radar, ultrasonic sensors, and high-definition cameras are among the advanced technologies and systems used by autonomous cars to collect data. An onboard smart autonomous driving system analyses this data in order to safely operate the vehicles. OEMs will be able to implement more cruise control functions and safety systems for semi-autonomous vehicles as the focus on autonomous driving systems grows.

Surging urbanization and Growing Emphasis On Road Safety Mandates

Rising proportion of the urban population is likely to generate traffic congestion which is fueling the growth of the global transportation market. Increased population and urbanization have resulted in higher levels of traffic density, making commuting more challenging for the general public. Furthermore, as the urban population grows, so does the amount of business done within cities and with commercial partners outside of cities. An expanding urban population tends to increase the amount of transportation as business grows.

RESTRAINTS

Concerns Pertaining to High Cost for the installation of Sensors

High costs of few sensors will be hampering the growth of the global transportation sensor market. Different sensors, such as microwave sensors, image sensors, and sound sensors, do not have a significant effect on traffic and are associated with substantial safety problems. However, because the sensor requires dependency for facing mounting positions and different angles. Aforementioned factors are hampering the growth of the global transportation sensor market.

SEGMENTATION

The global transportation sensor market is segmented by Type (Piezoelectric Sensors, Inductive Loop Sensors, Magnetic Sensors & Others), By Technology (2D Sensor, 3D Sensor, RFID, GSM & Others), By Application (Vehicle Measurement and Profiling, Weigh in Motion, Traffic Monitoring, Automated Tolling (E-Toll)) and Region. Based on the type, the market is categorized into piezoelectric sensors, inductive loop sensors, magnetic sensors, infrared sensors, image sensors & others. Based on technology, the market is categorized into 2D Sensor, 3D Sensor, RFID, GSM & Others. Based on Application, the market is categorized into vehicle measurement and profiling, weigh in motion, traffic monitoring, automated tolling (e-toll). Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

By Type

Based on type, it is categorized into piezoelectric sensors, inductive loop sensors, magnetic sensors & others. The image sensors segment dominated the global transportation sensor market share owing increasing image capturing form the traffic control. Furthermore, the images captured by the vehicle's camera can be used to detect a car following it, measure the distance between it and recognize an obstruction, and detect a lane. Because of its small size, this traffic picture sensor can be integrated into a traffic signal controller. This image sensor has great sensitivity even in low-light situations, and it also has high-speed photography capabilities in daylight even.

By Technology

Based on technology, it is categorized into 2D Sensor, 3D Sensor, RFID, GSM & Others. The 2D sensor segment dominated the global transportation sensor market share owing to rely primarily on 2D sensor in monitoring applications for quality traffic. The limited count of circumstances, the 2D sensor's capacity to accomplish 100 percent quality control is a big worry, especially in the case of multi-lane and heavy traffic congestions. Still, the 2D sensor will continue to propel the global transportation sensor market.

By Application

Based on Application, it is categorized into vehicle measurement and profiling, weigh in motion, traffic monitoring, automated tolling (e-toll). The traffic monitoring segment dominated the global transportation sensor market share owing to the huge development in traffic infrastructure, in turn, increasing demand for transportation sensors. The growth in the number of vehicles on the road, the increase in population, and the migration of rural areas to metropolitan cities are the main causes of traffic congestion.

REGIONAL INSIGHTS

The global transportation sensor market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is expected to dominate the market share of global transportation sensor market owing to the heavy investments on transportation sensor developments and presence of major manufacturers which are focusing on shifting the concept of IC engines to smart vehicles. For instance, BMW and Audi are building hydrogen fuel-cell passenger vehicle prototypes alongside their fleets of battery cars. However, Asia Pacific is expected to account highest CAGR across the forecast period due to the growing capabilities for the development in infrastructures and expansion of mega cities along with the growing population. For instance, according to the survey in 2020, Korea and Japan are leading the way among Asian countries is investing on transportation sensor projects.

INDUSTRY PLAYERS

• AGD Systems
• Amphenol Advanced Sensors
• Diablo Controls, INC.
• EFKON
• FLIR Systems, Inc
• Gems Sensors, Inc.
• International Road Dynamics, Inc.,
• Jenoptik AG
• Kapsch TrafficCom
• SICK AG
• TE Connectivity
• Others

KEY INDUSTRY DEVELOPMENTS:

August 2020- EFKON AG made an agreement with Varanasi Smart City Limited (VSCL) to focus on the development, design, deployment, and maintenance of an advanced surveillance system in Varanasi for at least 5 years.

May 2019- Sensys Networks, Inc merged with TagMaster, will provide greater depth and breadth to leading-edge data solutions for more customers across the globe. 

SEGMENTATION

By Type

• Piezoelectric Sensors
• Inductive Loop Sensors
• Magnetic Sensors
• Infrared Sensors
• Image Sensors
• Others

By Technology

• 2D Sensor
• 3D Sensor
• RFID
• GSM
• Others

By Application

• Vehicle Measurement and Profiling
• Weigh in Motion
• Traffic Monitoring
• Automated Tolling (E-Toll)

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia