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Global Smart Traffic Camera Market Size, Share, Forecast: By Component: Hardware, Software, Service; By Camera Type: Fixed Cameras, Mobile Speed Cameras, Surveillance Camera, Red Light Camera, Others; By Deployment Mode: Traffic Monitoring, Traffic Enforcement; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Smart Traffic Camera Market Outlook
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.
Key Trends in the Market
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.
- Increasing road safety concerns and rising number of vehicles is aiding the smart traffic camera market growth. Growing investments on road network development and increasing urbanisation and motorisation are propelling the requirement for smart traffic cameras for traffic, surveillance, and toll management.
- The development of smart cities for promoting economic growth and optimising city functions by using data analysis and smart technologies is bolstering the demand for smart traffic cameras. These cameras aid in enhancing the pedestrian safety effectiveness and monitoring intersections. With the ability to cover field of view in a greater detail, the cameras optimise traffic flow of vehicles and provide real time insights.
- Increasing green initiatives in traffic management operations is providing lucrative growth opportunities to the market. Advanced systems such as automated number plate recognition detects violators while enabling driving behaviours that aid in reduction of emissions generated by vehicles.
Global Smart Traffic Camera Market Analysis
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.
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.
- Axis Communications AB
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Motorola Solutions, Inc.
- Teledyne FLIR LLC
- IDEMIA France SAS
- Vetro Verkehrselektronik GmbH
- Jenoptik AG
- Others
Market Share by Application
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.
Market Share by Region
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.
Competitive Landscape
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.
Key Highlights of the Report
| 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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Smart Traffic Camera Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Traffic Camera Historical Market (2018-2023)
8.3 Global Smart Traffic Camera Market Forecast (2024-2032)
8.4 Global Smart Traffic Camera Market by Component
8.4.1 Hardware
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Camera
8.4.1.3.2 Accessories
8.4.2 Software
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Traffic Management Software
8.4.2.3.2 Automation/ License Plate Recognition
8.4.2.3.3 Incident Detection and Response Software
8.4.2.3.4 Enforcement Software
8.4.2.3.5 Others
8.4.3 Service
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.3.3 Breakup by Type
8.4.3.3.1 Support and Maintenance Services
8.4.3.3.2 Implementation and Integration Services
8.4.3.3.3 Consulting Services
8.5 Global Smart Traffic Camera Market by Camera Type
8.5.1 Fixed Cameras
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Mobile Speed Cameras
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Surveillance Camera
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Red Light Camera
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Smart Traffic Camera Market by Deployment Mode
8.6.1 Traffic Monitoring
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Traffic Enforcement
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Smart Traffic Camera Market by Application
8.7.1 Surveillance and Traffic Management
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Toll Management
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Others
8.8 Global Smart Traffic Camera Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Smart Traffic Camera Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Smart Traffic Camera Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Traffic Camera Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Traffic Camera Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Traffic Camera Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Axis Communications AB
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Hangzhou Hikvision Digital Technology Co., Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Motorola Solutions, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Teledyne FLIR LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 IDEMIA France SAS
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Vetro Verkehrselektronik GmbH
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Jenoptik AG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Traffic Camera Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Traffic Camera Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Smart Traffic Camera Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Smart Traffic Camera Historical Market: Breakup by Camera Type (USD Billion), 2018-2023
5. Global Smart Traffic Camera Market Forecast: Breakup by Camera Type (USD Billion), 2024-2032
6. Global Smart Traffic Camera Historical Market: Breakup by Deployment Mode (USD Billion), 2018-2023
7. Global Smart Traffic Camera Market Forecast: Breakup by Deployment Mode (USD Billion), 2024-2032
8. Global Smart Traffic Camera Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Smart Traffic Camera Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Smart Traffic Camera Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Smart Traffic Camera Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Smart Traffic Camera Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Smart Traffic Camera Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Smart Traffic Camera Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Smart Traffic Camera Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Smart Traffic Camera Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Smart Traffic Camera Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Smart Traffic Camera Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Smart Traffic Camera Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Smart Traffic Camera Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Smart Traffic Camera Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Smart Traffic Camera Market Structure
Key Questions Answered in the Report
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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