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Base Year
Historical Year
Forecast Year
The global smart traffic camera market size reached approximately USD 12.9 billion in 2023. The market is further projected to grow at a CAGR of 12.5% between 2024 and 2032, reaching a value of USD 38.3 billion by 2032.
Global Smart Traffic Camera Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 12.9 |
Market Size 2032 | USD Billion | 38.3 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 12.5% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 15.1% |
CAGR 2024-2032 - Market by Country | India | 16.6% |
CAGR 2024-2032 - Market by Country | China | 14.5% |
CAGR 2024-2032 - Market by Deployment Mode | Traffic Monitoring | 13.8% |
CAGR 2024-2032 - Market by Application | Surveillance and Traffic Management | 14.0% |
Market Share by Country 2023 | USA | XX% |
Smart traffic cameras refer to traffic management devices that are based on information and communication technologies and aid in enhancing the commuting experience in urban areas. The integration of cameras with smart traffic systems optimises the flow of traffic and provides real time traffic insights.
On the basis of component, the market is divided into hardware, software, and service. Hardware is sub-divided by type into camera and accessories. Software is sub-divided by type into traffic management software, automation/ license plate recognition, incident detection and response software, and enforcement software, among others.
Service is sub-divided by type into support and maintenance services, implementation and integration services, and consulting services. Based on camera type, the smart traffic camera market segmentation includes fixed cameras, mobile speed cameras, surveillance camera, and red light camera, among others.
On the basis of deployment mode, the market is bifurcated into traffic monitoring and traffic enforcement. Based on application, the market is classified into surveillance and traffic management and toll management, among others. On the basis of region, the market is segregated into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
CAGR 2024-2032 - Market by | Deployment Mode |
Traffic Monitoring | 13.8% |
Traffic Enforcement | XX% |
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the smart traffic camera market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Surveillance and traffic management is expected to account for a significant smart traffic camera market share. The utilisation of smart traffic cameras for traffic management and surveillance helps in avoiding traffic collisions. Surveillance aids in deterring road hazards as the continuous recording increases the attentiveness of the drivers and they are more likely to obey traffic laws. The smart cameras compute traffic information, capture video streams, and transfer traffic information and compressed video streams to a network node.
CAGR 2024-2032 - Market by | Application |
Surveillance and Traffic Management | 14.0% |
Toll Management | XX% |
Others | XX% |
The Asia Pacific is anticipated to witness significant growth over the forecast period. This growth can be attributed to the increasing investments by various governments of developing countries including China and India towards advanced traffic management solutions for eliminating the problem of traffic congestion and identifying traffic violators. Increasing incidences of accidents is propelling the requirement for smart traffic monitoring and managing solutions, boosting the smart traffic camera market demand.
CAGR 2024-2032 - Market by | Region |
Asia Pacific | 15.1% |
North America | 11.9% |
Europe | XX% |
Latin America | XX% |
Middle East and Africa | XX% |
CAGR 2024-2032 - Market by | Country |
India | 16.6% |
China | 14.5% |
Canada | 13.6% |
Japan | 12.9% |
USA | 11.7% |
UK | XX% |
Germany | XX% |
France | XX% |
Italy | XX% |
Axis Communications AB is one of the leading manufacturers of smart traffic cameras, network audio devices for video surveillance and physical security companies, and network cameras, among others. The company was founded in 1984 and is headquartered in Lund, Sweden.
Hangzhou Hikvision Digital Technology Co., Ltd., headquartered in Zhejiang, China, is one of the leading suppliers and manufacturers of video surveillance equipment for military and civilian applications. The company aims to create better connectivity through their comprehensive machine perception technologies.
Motorola Solutions, Inc. is involved in the creation of critical communication services and solutions for commercial customers and public safety. The company specialises in public safety software, video analytics, smart traffic cameras, and Land Mobile Radios (LMR), among others.
Other smart traffic camera market key players include Teledyne FLIR LLC, IDEMIA France SAS, Vetro Verkehrselektronik GmbH, and Jenoptik AG, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Component |
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Breakup by Camera Type |
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Breakup by Deployment Mode |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of approximately USD 12.9 billion in 2023.
The market is projected to grow at a CAGR of 12.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 38.3 billion by 2032.
The major market drivers include increasing road safety concerns and rising number of vehicles and growing requirement for advanced traffic management solutions for eliminating the problem of traffic congestion.
The key trends fuelling the growth of the market include development of smart cities and increasing green initiatives in traffic management operations.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant camera types include fixed cameras, mobile speed cameras, surveillance camera, and red light camera, among others.
The key players in the market are Axis Communications AB, Hangzhou Hikvision Digital Technology Co., Ltd., Motorola Solutions, Inc., Teledyne FLIR LLC, IDEMIA France SAS, Vetro Verkehrselektronik GmbH, and Jenoptik AG, among others.
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