The global traffic sensor market was estimated at US$502.461 million in 2018, with a CAGR of 6.78 percent expected to reach US$744.637 million by 2024. All effective traffic surveillance and monitoring systems require traffic sensors, which are required for the appropriate implementation of intelligent traffic control systems to keep track of current conditions across the traffic network. The expansion of the Traffic Sensor Market is mostly due to an increase in government spending on infrastructure construction around the world. From 2010 to 2016, investments in road transportation infrastructure were shown in the graph below. The mentioned countries' investments in this industry increased by around 26.59 percent over the previous year.
In the coming years, the imaging sensor will see the most growth.
By 2026, image sensors are predicted to account for the majority of the entire traffic sensor market.
Images from cameras situated beside or on the road are seen by image sensors.
Furthermore, the images captured by the vehicle's camera can be used to detect a car following it, measure the distance between it and the following vehicle, recognise an obstruction, and detect a lane.
Because of its small size, this traffic picture sensor can be integrated into a traffic signal controller.
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