1. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Fuel Cell Market size worth $25.5bn by 2024 Traffic Sensor Market Business Development Analysis and Future Challenges by 2024: Global Market Insights, Inc.

2. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Asia Pacific traffic sensor market is expected to hold the majority share due to the adoption of technologically-advanced systems. Growing urban population and the increasing need for real-time information systems in the region will propel the traffic sensor market growth. Growing urban population in countries including India, China, Japan, and South Korea is increasing the strain on the traffic management solutions. This is encouraging the governments to invest increasingly in smart transportation solutions. For instance, the Government of Australia has planned to invest over USD 70 billion for the development of its transport infrastructure by 2021.  Governments of various countries have undertaken initiatives to improve the infrastructure of the cities, aiding the traffic sensor market growth. For instance, in the fiscal year 2017 – 18, under the Digital India initiative, the Government of Indi. allocated USD 4.03 billion for the Pradhan Mantri Gram Sadak Yojana (PMGSY) and USD 9.55 billion for the National Highways Authority of India (NHAI) projects. Such initiatives are propelling the traffic sensor market expansion into developing countries. The European Commission is introducing innovative means to finance the transport infrastructure in Europe. For instance, in February 2017, the European Union invited innovative transportation proposals that will be provided a combined grant of up to USD 1.23 billion. Regional Analysis of Traffic Sensor Market :

3. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Application Analysis of Traffic Sensor Market:  Continuously growing urban population is increasing the need for efficient traffic management solutions, propelling the traffic sensor market growth. Congestion in cities including New York, Shanghai, Mumbai, etc., has become a major point of concern for people dwelling in these cities. Congestions reduce the overall efficiency of the city and increase economic losses. These components help the analysis of parameters such as the number of vehicles that passed through an area at that instant and length, weight, and speed of vehicles. This allows the authorities to reduce congestions on the roads.  The major challenge in the growth of the traffic sensor market is the high cost of the systems implementing these components such as smart transportation and intelligent traffic management. These systems are equipped with the advanced software that requires a high degree of maintenance. The installation of the smart traffic management systems requires several hardware components including sensors, communication devices, and control systems, in addition to the software. Increased overall cost of these systems restricts the installation of these systems, restraining the traffic sensor market growth.

4. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Key players in the traffic sensor market are Kistler Group, International Road Dynamics, Q-Free ASA, TransCore, FLIR Systems, Inc., Kapsch TrafficCom AG, SWARCO AG, EFKON GmbH, TE Connectivity, and SICK AG. The adoption of new technology at the right time has made all these major players succeed in the industry.  The traffic sensor market is characterized by strategic acquisitions and partnerships amongst the players. In April 2016, Kapsch TrafficCom declared the acquisition transportation business of Schneider Electric. This acquisition will help Kapsch TrafficCom to expand its business and reinforce its market position in Latin America, Spain, North America, and the Middle East. Competitive Market Share of Traffic Sensor Market:

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