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Transportation Sensors Market Highlighting Regional Revenue Share Dominance during 2018-2026

May 15th 2019 at 1:56 AM

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.

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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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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.

Transportation Sensors Market: Competition Landscape

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.

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