Traffic sensors are mainly designed to gauge the pressure of cars on a particular road. The will help to determine various signals that should be on and help in simplify the movement of traffic. Across the world, governments are engaging themselves more and more in employing such mechanisms, particularly in megacities. The Traffic Sensor Market is enjoying such favorable winds and is expected to gain 8% CAGR during the forecast period (2017-2023). Market Research Future (MRFR) revealed recently the possibility for this traffic sensors market to achieve USD 385 million valuation is quite high.
Increasing interests shown by governments from the APAC region, influx of advanced 3D technology, advancement in various sensor types like magnetic sensors, piezoelectric sensors, image sensors, demand from the electronic toll systems, improvement in GPS system, better spending capacities of investors, and extra-care taken by automotive manufacturers are expected to drive the global traffic sensors market ahead.