Global Smart Traffic Camera Market is valued approximately at USD 10.98 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 14.60% over the forecast period 2023-2030. A smart traffic camera is primarily used for surveillance, to increase public safety, and to maintain a smooth flow of traffic. These intelligent cameras are positioned on arterial roads, motorways and highways that are connected by optical fibers. They have a sensing device that records a video stream, detects real-time traffic information and sends the compressed data to a network node and a monitoring center. The increasing number of road accidents and traffic congestion in the emerging economies are the factors acting as drivers fueling the market growth.
Additionally, governments and transportation authorities are placing greater emphasis on road safety measures. Smart traffic cameras equipped with features such as license plate recognition, speed detection and automated violation detection help enforce traffic regulations, deter reckless driving and improve overall road safety. According to the World Health Organization, the Decade of Action for Road Safety 2021-2030 was formally proclaimed by the UN General Assembly in September 2020 with the audacious goal of averting at least half of traffic-related fatalities and injuries by 2030. A Global Plan for the Decade of Action was created by WHO and the UN regional commissioners in collaboration with other members of the UN Road Safety Collaboration and released in October 2021. Moreover, growing adoption of analytics software and an increase in the number of smart city projects in developing economies are anticipated to provide lucrative potential for market growth over the course of the projected period. However, factors such as high equipment installation costs and security risks & hacking difficulties are anticipated to restrain the market growth.
The key regions considered for the Global Smart Traffic Camera Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 as the region, has been at the forefront of technological advancements, including the development and implementation of smart traffic camera systems. The region has a strong base of technology companies, research institutions, and innovation hubs, fostering the development of cutting-edge technologies in the transportation sector. Asia Pacific is expected to grow significantly during the forecast period, owing to rising number of vehicles, and active participation of government organizations to oversee traffics rules and regulations in the market space.
Major market player included in this report are:
- Allied Vision Technologies GmbH
- ARH Inc.
- Pelco Inc.
- Bluecard Technologies Corp
- RoadPixel Ltd.
- Canon Inc
- ShenZhen LiZhongxiang Technology Co. Ltd.
- FLIR Systems Inc
- Sony Corp.
- Genetec Inc
Recent Developments in the Market:
- In January 2020, in order to give automakers, the tools they need to increase vehicle safety, FLIR Systems Inc. and Ansys Inc. teamed up to deliver enhanced hazard detection capabilities for assisted-driving and autonomous vehicles. In order to create, test, and validate thermal camera designs in an incredibly realistic virtual environment, FLIR Systems Inc. will integrate a fully physics-based thermal sensor into Ansys' driving simulator.
- In March 2020, Stingray, a revolutionary modular automatic number plate recognition (ANPR) camera solution, was introduced by Videalert Ltd. In order to enable improved capture rates and better productivity in all parking and traffic management applications, it has high-definition cameras with upgraded infrared lighting.
Global Smart Traffic Camera Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Application, Development Type, Camera Type, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component:
- Hardware
- Software
- Services
By Application:
- Surveillance and Traffic Management
- Toll Management
- Others
By Development Model:
- Traffic Monitoring
- Traffic Enforcement
By Camera Type:
- Fixed Cameras
- Mobile Speed Camera
- Red Light Camera
- Surveillance Camera
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Smart Traffic Camera Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Smart Traffic Camera Market, by Component, 2020-2030 (USD Billion)
- 1.2.3. Smart Traffic Camera Market, by Application, 2020-2030 (USD Billion)
- 1.2.4. Smart Traffic Camera Market, by Development Model, 2020-2030 (USD Billion)
- 1.2.5. Smart Traffic Camera Market, by Camera Type, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Smart Traffic Camera Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Smart Traffic Camera Market Dynamics
- 3.1. Smart Traffic Camera Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising number of road accidents
- 3.1.1.2. Increase in the traffic congestion in the emerging economies
- 3.1.2. Market Challenges
- 3.1.2.1. High equipment installation costs
- 3.1.2.2. Security risks & hacking difficulties
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing adoption of analytics software
- 3.1.3.2. Increase in the number of smart city projects in developing economies
Chapter 4. Global Smart Traffic Camera Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Traffic Camera Market, by Component
- 5.1. Market Snapshot
- 5.2. Global Smart Traffic Camera Market by Component, Performance - Potential Analysis
- 5.3. Global Smart Traffic Camera Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
- 5.4. Smart Traffic Camera Market, Sub Segment Analysis
- 5.4.1. Hardware
- 5.4.2. Software
- 5.4.3. Services
Chapter 6. Global Smart Traffic Camera Market, by Application
- 6.1. Market Snapshot
- 6.2. Global Smart Traffic Camera Market by Application, Performance - Potential Analysis
- 6.3. Global Smart Traffic Camera Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 6.4. Smart Traffic Camera Market, Sub Segment Analysis
- 6.4.1. Surveillance and Traffic Management
- 6.4.2. Toll Management
- 6.4.3. Others
Chapter 7. Global Smart Traffic Camera Market, by Development Model
- 7.1. Market Snapshot
- 7.2. Global Smart Traffic Camera Market by Development Model, Performance - Potential Analysis
- 7.3. Global Smart Traffic Camera Market Estimates & Forecasts by Development Model 2020-2030 (USD Billion)
- 7.4. Smart Traffic Camera Market, Sub Segment Analysis
- 7.4.1. Traffic Monitoring
- 7.4.2. Traffic Enforcement
Chapter 8. Global Smart Traffic Camera Market, by Camera Type
- 8.1. Market Snapshot
- 8.2. Global Smart Traffic Camera Market by Camera Type, Performance - Potential Analysis
- 8.3. Global Smart Traffic Camera Market Estimates & Forecasts by Camera Type 2020-2030 (USD Billion)
- 8.4. Smart Traffic Camera Market, Sub Segment Analysis
- 8.4.1. Fixed Cameras
- 8.4.2. Mobile Speed Camera
- 8.4.3. Red Light Camera
- 8.4.4. Surveillance Camera
- 8.4.5. Others
Chapter 9. Global Smart Traffic Camera Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Smart Traffic Camera Market, Regional Market Snapshot
- 9.4. North America Smart Traffic Camera Market
- 9.4.1. U.S. Smart Traffic Camera Market
- 9.4.1.1. Component breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Application breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Development Model breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. Camera Type breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Smart Traffic Camera Market
- 9.5. Europe Smart Traffic Camera Market Snapshot
- 9.5.1. U.K. Smart Traffic Camera Market
- 9.5.2. Germany Smart Traffic Camera Market
- 9.5.3. France Smart Traffic Camera Market
- 9.5.4. Spain Smart Traffic Camera Market
- 9.5.5. Italy Smart Traffic Camera Market
- 9.5.6. Rest of Europe Smart Traffic Camera Market
- 9.6. Asia-Pacific Smart Traffic Camera Market Snapshot
- 9.6.1. China Smart Traffic Camera Market
- 9.6.2. India Smart Traffic Camera Market
- 9.6.3. Japan Smart Traffic Camera Market
- 9.6.4. Australia Smart Traffic Camera Market
- 9.6.5. South Korea Smart Traffic Camera Market
- 9.6.6. Rest of Asia Pacific Smart Traffic Camera Market
- 9.7. Latin America Smart Traffic Camera Market Snapshot
- 9.7.1. Brazil Smart Traffic Camera Market
- 9.7.2. Mexico Smart Traffic Camera Market
- 9.8. Middle East & Africa Smart Traffic Camera Market
- 9.8.1. Saudi Arabia Smart Traffic Camera Market
- 9.8.2. South Africa Smart Traffic Camera Market
- 9.8.3. Rest of Middle East & Africa Smart Traffic Camera Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Allied Vision Technologies GmbH
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. ARH Inc
- 10.3.3. Pelco Inc.
- 10.3.4. Bluecard Technologies Corp
- 10.3.5. RoadPixel Ltd.
- 10.3.6. Canon Inc
- 10.3.7. ShenZhen LiZhongxiang Technology Co. Ltd.
- 10.3.8. FLIR Systems Inc
- 10.3.9. Sony Corp.
- 10.3.10. Genetec Inc
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption