Traffic sensors or traffic light sensors are devices which are used to manage inconsistent traffic flow efficiently. Traffic sensors also detect if cars have entered turn lanes, cars have arrived at intersections, or cars are stacked at intersections. Usually in large cities, traffic flow is dictated by traffic lights with the help of timers; but traffic signal sensors are majorly used in up county roads and suburbs as traffic flow is less consistent there. There are numerous technologies which are used in traffic sensor devices such as infrared, radar, lasers, rubber hoses, video detection, piezoelectric and inductive loops. Inductive loops technique is the most commonly used technique owing to its simple structure and its advantage that it does not get affected by weather conditions. Inductive loops are coils of wire that are rooted under the road surface to detect changes in inductance as vehicles pass above it. When the car stops over the buried coils, the car’s steel material body acts as core of the induction loop and changes its inductance. The changed inductance changes the current flowing through the loop and it is conveyed to the sensor circuitry in order to produce or alter the signals.
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Global government initiatives and investments to improve transport infrastructure is the key factor expected to drive the global traffic sensor market. The European Commission is launching innovative ways to finance Europe’s transport infrastructure. In February 2017, EU called for innovative transportation proposals which will be provided combined grants up to Euro 1 billion from the private sector and public financial institutions. A number of developing Asian countries are also taking efforts to improve their infrastructure. The Government of Australia has committed over US$ 70 billion to develop its transport infrastructure for the period from 2013-14 to 2020-21. The Government of India in its Union Budget 2017-18, has allotted US$ 4.03 billion for PMGSY (Pradhan Mantri Gram Sadak Yojana) and US$ 9.55 billion for NHAI (National Highways Authority of India) projects. Growth of urban population and increasing need for real-time traffic information systems are also likely to boost the global traffic sensor market over the forecast period. Increase in urban population puts strain on traffic management which demands efficient traffic management solutions and is expected to boost the adoption of traffic sensors in the coming years. Even though high costs associated with installation and management of traffic sensors could be the limiting factor for market growth, nonetheless, analytics-based transport solutions which uses deep analytics platforms and cloud-based big data, presents huge opportunity for market growth.
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