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Global Smart Traffic Camera Market to reach USD 32.66 billion by the end of 2030.

Global Smart Traffic Camera Market Size study & Forecast, By Component (Hardware, Software and Service), By Applications (Surveillance and Traffic Management, Toll Management and Others), By Deployment Model (Traffic Monitoring and Traffic Enforcement) and By Camera Type (Fixed Cameras, Mobile Speed Camera, Red Light Camera, Surveillance Camera and Others) and Regional Analysis, 2023-2030

Product Code: ALTST-23723221
Publish Date: 1-07-2023
Page: 200

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:
Ø 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.
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Application, Development Type, Camera Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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:
By Application:
Surveillance and Traffic Management
Toll Management
By Development Model:
Traffic Monitoring
Traffic Enforcement
By Camera Type:
Fixed Cameras
Mobile Speed Camera
Red Light Camera
Surveillance Camera

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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 Rising number of road accidents Increase in the traffic congestion in the emerging economies
3.1.2. Market Challenges High equipment installation costs Security risks & hacking difficulties
3.1.3. Market Opportunities Growing adoption of analytics software 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 Component breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Development Model breakdown estimates & forecasts, 2020-2030 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 Key Information Overview Financial (Subject to Data Availability) Product Summary 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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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