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Smart Traffic Camera Market trends 2021, Revenue and Size Analysis by Regions, Global Share, Industry Growth Statistics, Gross Margins, Top Players with Strategies, Forecast Research Report 2027

In 2020, the smart traffic camera market size was more than the US $7.36 billion. The global smart traffic camera market is forecast to grow at a compound annual growth rate (CAGR) of more than 12.7% during the forecast period from 2021-2027.

The primary purpose of a smart traffic camera is to improve safety, keep people safe, and keep traffic flowing smoothly. Optical fiber connections connect smart cameras to freeways, expressways, highways, and arterial roads. They contain a sensing device that captures a video stream in real-time and sends it to a network node then to the monitoring center in compressed form. Cameras present in the market include speed detection cameras, red-light cameras, and traffic violation cameras.

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Factors Affecting the Market

Growing government concerns regarding public safety coupled with an increase in the number of vehicles and insufficient infrastructure are key factors contributing to the global smart traffic camera market’s growth. In addition, the development of smart cities in many countries contributes to the market’s growth.

The smart traffic camera market is likely to face several challenges, including high installation costs and security threats & hacker challenges.

During the forecast period, smart traffic cameras will benefit from an increase in analytics software penetration.

Impact Analysis of COVID-19

During the COVID-19 pandemic, smart traffic cameras have experienced stable growth due to the increasing adoption of cameras for tracking people without masks.

In addition, the growing number of COVID-19 patients has increased the need for social distance to contain the spread of the disease. Thus, governments in various countries have taken strict action against those in violation of COVID-19 regulations.

While the COVID-19 pandemic was underway, a Melbourne University professor installed cameras to monitor traffic flow in Carlton and study things like traffic volume, near-misses between vehicles and cyclists, and the transit time for pedestrians.

Thus, the rise in such developments across the globe contributed significantly to the growth of the smart traffic camera market.

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Regional Overview of the Asia-Pacific Market

Asia-Pacific is experiencing technological developments that are driving the growth of the smart camera market. In addition, the region is also becoming a hub for manufacturing smart traffic cameras. During the forecast period, the Asia-Pacific smart traffic camera market for security & surveillance will grow in three application segments: public spaces, military & defense, and transit facilities. Asia-Pacific is a large market for smart traffic cameras for security and surveillance, driven by several countries such as China, Japan, South Korea, and others.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

Key Companies

The leading prominent companies profiled in the global smart traffic camera market are:

Allied Vision

Axis Communications

E Com Systems

Flir Systems

Hikvision

Idemia

Imperx, Inc.

Jenoptik

Motorola Solutions

Redflex Holdings

Siemens AG

Tattile

Teledyne Dalsa

Vitronic Gmbh

Other Prominent Players

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Aim of the Report

The global smart traffic camera market segmentation focuses on Component, Application, Deployment Model, Camera Type, and Region.

Segmentation based on Component

Hardware

Camera

Accessories

Software

Traffic Management Software

Automatic Number/License Plate Recognition

Enforcement Software

Incident Detection & Response Software

Others

Service

Implementation & Integration Services

Support & Maintenance Services

Consulting Services

Segmentation based on Application

Surveillance and Traffic Management

Toll Management

Others

Segmentation based on Deployment Model

Traffic Monitoring

Traffic Enforcement

Segmentation based on Camera Type

Fixed Cameras

Mobile Speed Camera

Red Light Camera

Surveillance Camera

Traffic Monitoring Camera

ANPR Camera

Others

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Segmentation based on Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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Updated : 2022-05-20 10:22 GMT+08:00