The smart traffic camera global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Traffic Camera Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart traffic camera market size has grown rapidly in recent years. It will grow from $11.94 billion in 2023 to $13.77 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to urbanization and population growth, traffic congestion concerns, data-driven decision making, public awareness and education, economic growth and increased vehicle ownership.
The smart traffic camera market size is expected to see rapid growth in the next few years. It will grow to $24.64 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to government initiatives for smart cities, road safety and accident prevention, global events impacting traffic patterns, urban mobility solutions, evolving regulatory environment. Major trends in the forecast period include integration of artificial intelligence (ai), advanced video analytics for traffic monitoring, traffic flow optimization and congestion management, real-time incident detection and response, smart parking solutions, data privacy and ethical considerations. .
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Scope Of Smart Traffic Camera Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Traffic Camera Market Overview
Market Drivers –
The increase in government concerns related to public safety is expected to drive the smart traffic camera market forward. The government is deeply concerned about the growing number of road accidents, injuries, and fatalities. Smart traffic cameras are devices that monitor intersections between roads and improve pedestrian safety. For instance, in June 2022, according to the World Health Organization, a United Nations government body based in Switzerland and responsible for international public health, launched the Second Decade of Action in October 2021 with the publication of the Global Plan for the Decade of Action for Road Safety 2021–30. Therefore, the increase in government concerns related to public safety is driving the growth of the smart traffic camera market.
Market Trends –
Technological development is a key trend in the smart traffic camera market. Major companies operating in the smart traffic camera market are concentrating on creating innovative technology solutions to strengthen their position in the market. For instance, in July 2023, Mobileye Global Inc., an Israel-based system software company, launched the world’s first camera-only Intelligent Speed Assist (ISA) solution, which has been tested and certified in Europe. The camera-only system is designed to help global automakers meet the new EU General Safety Regulation (GSR) standards, which require the automatic sensing of speed limits in all new vehicle models without relying on third-party maps and GPS data. The ISA system uses computer vision and machine learning to detect traffic signs and other visual signals in the surrounding environment without the need for additional sensors or map data.
The smart traffic camera market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Camera Type: Fixed Cameras, Mobile Speed Camera, Red Light Camera, Surveillance Camera, Traffic Monitoring Camera, ANPR Camera, Other Camera Types
3) By Deployment Model: Traffic Monitoring, Traffic Enforcement
4) By Application: Surveillance And Traffic Management, Toll Management, Other Applications
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Regional Insights –
North America was the largest region in the smart traffic camera market in 2023. The regions covered in the smart traffic camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the smart traffic camera market report are Axis Communications AB; Jenoptik AG; Teledyne FLIR LLC; Hangzhou Hikvision Digital Technology Co Ltd.; Tattile S.r.l.; Sensys Gatso Group AB; Kapsch TrafficCom AG; Allied Vision Technologies GmbH; ARH Inc.; Bluecard Technologies Corp.; Canon Inc.; FLIR Systems Inc.; Hanwha Techwin Co. Ltd.; Pelco by Schneider Electric; Bosch Security Systems; Hikvision Digital Technology Co. Ltd.; VIVOTEK Inc.; Dahua Technology Co. Ltd.; Avigilon Corporation; Genetec Inc.; March Networks Corporation; IndigoVision Group plc; Verint Systems Inc.; Honeywell International Inc.; Siemens AG; Schneider Electric; Rockwell Automation Inc.; Emerson Electric Co.; Delta Electronics Inc.; Legrand North America LLC; Omron Corporation; Beckhoff Automation GmbH & Co. KG
1. Executive Summary
2. Smart Traffic Camera Market Report Structure
3. Smart Traffic Camera Market Trends And Strategies
4. Smart Traffic Camera Market – Macro Economic Scenario
5. Smart Traffic Camera Market Size And Growth
…..
27. Smart Traffic Camera Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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