Global Smart Traffic Camera Market By Component, By Camera Type, By Deployment Type, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

The Global Smart Traffic Camera Market size is expected to reach $18. 1 billion by 2027, rising at a market growth of 13. 1% CAGR during the forecast period. A smart traffic camera is an electronic device that helps in monitoring and managing the traffic flow to enhance the safety of people.

New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Traffic Camera Market By Component, By Camera Type, By Deployment Type, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06188496/?utm_source=GNW
These cameras are placed on expressways, highways, freeways, and arterial roads for surveillance and are interlinked with optical fibers. These smart cameras contain a sensing device that collects real-time information by recording a video and transmitting it to a network node that is then passed to a monitoring center in a compressed format. There are several kinds of smart cameras available in the market like traffic violation cameras, average speed cameras, speed detection cameras, and red-light cameras.

Factors such as rising concerns among the government about public safety, the growing number of vehicles & accidents, and the lack of infrastructure are acting as catalysts for the growth of the smart traffic camera market. Additionally, the market growth is directly proportional to the increase in the number of smart cities development projects. Moreover, the growing penetration of analytics software across the world is helping the market to grow further. However, an increasing number of hackers & security threats, and high investment for the installment of equipment would act as the barriers to the growth for the smart traffic cameras market growth over the forecasting years.

COVID-19 Impact

The outbreak of the COVID-19 pandemic had a negative impact on various public and government sectors across the world. In contrast, the smart traffic camera market witnessed a gradual growth during the COVID-19 pandemic. The government across various nations installed smart cameras in various places in order to keep a record of the people violating guidelines and lockdown restrictions. Moreover, WHO announced the COVID-19 as a Public Health Emergency. All nations followed similar rules like maintaining social distance, restriction on traveling, imposition of lockdowns to curb the spread of the coronavirus.

Market Growth Factors:

Growing number of smart city development projects

Governments across the world are playing a crucial role in the development of smart cities by taking various initiatives, implementing regulations, and focusing on installing smart devices across their infrastructure. Several smart cities have also installed smart traffic cameras within their infrastructure for tolls and ticketing, thereby propelling the growth of the smart traffic camera market. Additionally, the demand for smart traffic cameras has increased in smart cities to enhance security in order to prevent thefts at night and vehicle tracking services. This factor is expected to support the growth of the market.

Monitor traffic activities in real-time

Smart traffic cameras have gained traction in the past few years. The government, several enterprises, and residential societies are also using these smart cameras to monitor activities for security and safety purposes. The installation of security camera systems is very easy at places where the power source is available or nearby. These systems are available in all sizes and shapes, small enough that they can be hidden in photo frames, plants, and pictures.

Market Restraining Factor:

Installation of smart traffic cameras require heavy investment

Smart traffic cameras are integrated with artificial intelligence technology, various sensors, and advanced technologies. These sensors and technologies allow the camera to capture and record images and videos with more clarity. The sensors integrated into these cameras can even detect motion and automatically turn towards the source of the movement. As these cameras can perform multiple jobs, the cost associated with these cameras is very high.

Component Outlook

Based on Component, the market is segmented into Hardware, Software and Services. The software segment would display the fastest growth rate in the smart traffic camera market. Several governments across the world are deploying smart traffic camera software to enhance traffic congestion on roads as well as public safety.

Camera Type Outlook

Based on Camera Type, the market is segmented into Fixed Cameras, Surveillance Camera, Red Light Camera, Mobile Speed Camera, and Others. The Fixed Cameras market dominated the Global Smart Traffic Camera Market by Camera Type 2020. The Surveillance Camera market is experiencing a CAGR of 12.3% during (2021 - 2027). Additionally, The Red Light Camera market is estimated to grow at the highest CAGR of 13.9% during (2021 - 2027).

Deployment Type Outlook

Based on Deployment Type, the market is segmented into Traffic Monitoring and Traffic Enforcement. The traffic monitoring segment procured a prominent revenue share of the smart traffic camera market and is anticipated to witness a promising growth rate during the forecast period. The requirement for traffic monitoring is increasing in order to enhance security and safety on roads.

Application Outlook

Based on Application, the market is segmented into Surveillance & Traffic Management and Toll Management & Others. The toll management segment would display the highest growth rate over the forecasting years. This is attributed to the growing need for actual-time information of automatic and vehicle number plate identification on toll booths.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific market dominated the Global Smart Traffic Camera Market by Region 2020. The Europe market is exhibiting a CAGR of 13.1% during (2021 - 2027). Additionally, The North America market would showcase significant growth during the forecast period.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Siemens AG is the major forerunners in the Smart Traffic Camera Market. Companies such as Jenoptik AG, Sensys Gatso Group AB, Kapsch TrafficCom AG are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Motorola Solutions, Inc., Canon, Inc., Teledyne Technologies, Inc., Siemens AG, Jenoptik AG, Sensys Gatso Group AB, Kapsch TrafficCom AG (Datax Handelsgmbh), Hangzhou Hikvision Digital Technology Co., Ltd., IDEMIA SAS (Advent International, Inc.), and Allied Vision Technologies GmbH.

Recent Strategies Deployed in Smart Traffic Camera Market

Partnerships, Collaborations, and Agreements:

Sep-2021: IDEMIA joined hands with Abu Dhabi Police. Under this collaboration, the entities would enhance road safety and adopt the latest and upgraded technological solutions to future-proof the emirate’s road infrastructure.

Sep-2021: Teledyne FLIR joined hands with Plus, a global provider of self-driving truck technology. Under this collaboration, Plus would explore the combination of thermal cameras into their current sensor suite that would help in creating safer autonomous commercial vehicles.

Jun-2021: Jenoptik teamed up with Smart Mobility Living Lab, one of Europe’s largest Living Labs. Under this collaboration, Jenoptik would help SMLL partners by combining data from in-vehicle & roadside sensors and growing situational awareness capabilities, which could be applied across complicated urban environments.

Apr-2021: Siemens Mobility came into a partnership with HERE Technologies, the location data, and technology platform. Under this partnership, the companies aimed to enhance the quality of life of British citizens by minimizing the time spend in traffic or the pollution caused by congestion.

Mar-2021: Siemens Mobility joined hands with Bosch, a German multinational engineering and technology company. Under this collaboration, the company would introduce the latest and fully integrated connected vehicle collective perception system that would allow a direct connection between the dual-mode roadside unit and roadside camera on-board intelligence that would send the information to connected vehicles.

Feb-2021: Kapsch TrafficCom signed a contract with APRR, a highway concessionaire. Under this contract, the companies would implement, operate, and supply multi-lane free-flow tolling systems across France.

Dec-2020: Kapsch TrafficCom came into a partnership with Ford, an American multinational automobile manufacturer. Under this partnership, the companies would expand their existing core business areas of tolling and traffic management with tolling services and demand management.

Nov-2020: Sensys Gatso Group signed an agreement with the authority of East Providence. Under this agreement, the entities would work together for School Zone Speed Enforcement and Red Light Enforcement. Moreover, the entities would take an initiative for school zone safety.

Aug-2020: Siemens Mobility entered into a partnership with WJ Group, the UK’s leading specialist road marking business. Together, the entities would offer systems for temporary automatic speed cameras at road works across the UK. Moreover, Siemens would support WJ by providing intelligent highway infrastructure solutions.

Apr-2020: FLIR Systems, subsidiary of Teledyne signed an agreement with Foresight Autonomous Holdings, an innovator in automotive vision systems. Together, the companies would work to improve the performance of FLIR Systems’ thermal cameras within the QuadSight system to attain better outcomes under harsh weather & lighting conditions and to design automotive connectivity solutions.

Acquisitions and Mergers:

Mar-2021: Siemens Mobility took over Aldridge Traffic Controllers, an international distributor. This acquisition would enable the company to strengthen its core business of traffic management and improve its presence across the APAC market.

Aug-2020: Motorola Solutions took over Pelco, a global provider of video security solutions. Through this acquisition, the company would continue investing in Video Security & Analytics.

Jun-2020: Motorola Solutions acquired IndigoVision, a U.K.-based provider of end-to-end video security solutions. Under this acquisition, IndigoVision’s products would support Motorola Solutions’ available video portfolio that would comprise in-car & body-worn cameras, advanced analytics & software, and fixed cameras, and would offer improved go-to-market reach over an extensive customer base.

Product Launches and Product Expansions:

Oct-2021: Teledyne FLIR released Tau 2+, the highest sensitivity long wave infrared camera. This camera is designed for the most demanding environments, particularly for the detection of the smallest and hardest targets that are unable to be found over long distances.

Sep-2021: Teledyne FLIR unveiled Elara R-Series Commercial Ground Security Radars and Triton FH-Series Multispectral Fixed Cameras. This series would offer precise detection, alert of threats, and improved perimeter protection.

Sep-2021: Axis Communications, subsidiary of Canon unveiled AXIS Q1656-LE, a high-performance outdoor-ready box camera. This camera would provide exceptional video quality even in dim light and premium Q-line functionality. This weatherproof and water-resistant camera comprises a built-in wiper to guarantee great images even in rain and snow.

Sep-2021: Axis Communications, subsidiary of Canon introduced AXIS Q1951-E and AXIS Q1952-E. These cameras would offer reliable verification, detection, and high-quality thermal video streams 24/7, in all weather and any light conditions. Moreover, this camera would be best for boundary security and long-range detection.

May-2021: Allied Vision expanded its Alvium 1800 CSI-2 camera series with 3 camera models. These models contain CMOS sensors from Sony that are valued in the image processing industry for their high frame rates and high image quality.

Apr-2021: Axis Communications, subsidiary of Canon released AXIS Q6315-LE, a high-speed PTZ camera. This camera contains IR Illumination and day/night functionality for surveillance in pitch darkness. Moreover, it also comprises the latest generation chip with extended capabilities for analytics, substantially more efficient video compression, and enhanced imaging.

Feb-2021: Hikvision unveiled an All-Rounder ITS camera. This camera would assist in improving traffic flow and enhancing road safety. In addition, this camera comprises traffic violation detection, vehicle attribute analysis in one housing, varied abilities & skills, automated plate recognition, and boasting speed detection.

Nov-2020: Hikvision introduced Traffic Violation Detection solution. This solution would help in detecting parking and traffic violations over the road network in real-time and support fast, automated incident responses and ticketing deterrents.

Nov-2020: FLIR Systems, subsidiary of Teledyne released FLIR ThermiCam AI with thermal imaging and the FLIR TrafiCam AI visible camera. These cameras are integrated with Artificial Intelligence to improve traffic flow at intersections and on roadways.

Nov-2020: Axis Communications, subsidiary of Canon unveiled AXIS Object Analytics. Through this launch, the company aimed to provide classification and detection of vehicles and humans tailored to the surveillance requirement.

Sep-2020: Axis Communications, subsidiary of Canon introduced AXIS P1455-LE Network Camera. This camera is capable of capturing high-quality images even in dark and light areas. In addition, this camera comprises motion-adaptive exposure to substantially minimize the motion blur from nearby or approaching objects.

Geographical Expansions:

May-2020: Axis Communications, subsidiary of Canon expanded its geographical reach in Kolkata and the eastern India region. Under this expansion, the company would share the successful implementation information of their association with Kolkata Police for surveillance and traffic management across the streets of Kolkata.

Approvals and Trials:

Apr-2021: Jenoptik Traffic Solutions UK got Home Office approval for a red light enforcement system. This system would use Vector2 automatic number plate recognition camera platform and Jenoptik’s 3D tracking radar.

Scope of the Study

Market Segments covered in the Report:

By Component

• Hardware

• Software

• Services

By Camera Type

• Fixed Cameras

• Surveillance Camera

• Red Light Camera

• Mobile Speed Camera

• Others

By Deployment Type

• Traffic Monitoring

• Traffic Enforcement

By Application

• Surveillance & Traffic Management

• Toll Management & Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Motorola Solutions, Inc.

• Canon, Inc.

• Teledyne Technologies, Inc.

• Siemens AG

• Jenoptik AG

• Sensys Gatso Group AB

• Kapsch TrafficCom AG (Datax Handelsgmbh)

• Hangzhou Hikvision Digital Technology Co., Ltd.

• IDEMIA SAS (Advent International, Inc.)

• Allied Vision Technologies GmbH

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