The Europe Smart Traffic Camera Market would witness market growth of 13.1% CAGR during the forecast period (2021-2027).
A smart traffic camera is a video capturing camera that is installed mainly on the roads for surveillance purpose. Moreover, these cameras are integrated with artificial intelligence. The advancements in the field of computer vision have led to a surge in the installment of smart traffic cameras for monitoring and controlling the traffic on roads. These smart cameras have helped traffic managing authorities in enhancing traffic safety and mobility along with productivity.
The features of these cameras like versatility, choice of data interface, compact, ruggedized for harsh environments, lightweight, and on-board memory buffering have boosted the demand and growth of the market. Additionally, these can take footage of a large area, have multi-tasking capabilities, and build with various technological advancements. Further, growth of the market would witness bright prospects due to the growing trend of computerized surveillance, the rapidly increasing rate of vehicle sales, and acceleration in traffic issues.
The smart traffic camera market has acquired significant growth in Europe in the past few years. The presence of several market players in the ecosystem has led to a diverse and competitive market. With the growing need to maintain safety, it is crucial to install smart cameras on roads. Additionally, the smart traffic camera vendors are witnessing lucrative opportunities as the demand for these cameras is rapidly increasing in this region.
Moreover, various small enterprises and startups are emerging and providing the smart cameras with added capabilities. Further, the traffic management authorities are gradually adopting the latest technologies that can provide videos with more clarity that help giving ample evidence of traffic and other violations. These factors are accountable to increase the demand and growth of the regional smart traffic camera market in the upcoming years.
The Germany market dominated the Europe Traffic Enforcement Smart Traffic Camera Market by Country 2020, thereby, achieving a market value of $392.3 million by 2027. The UK market is exhibiting a CAGR of 14.6% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 16.4% during (2021 - 2027).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Camera Type, the market is segmented into Fixed Cameras, Surveillance Camera, Red Light Camera, Mobile Speed Camera, and Others. Based on Deployment Type, the market is segmented into Traffic Monitoring and Traffic Enforcement. Based on Application, the market is segmented into Surveillance & Traffic Management and Toll Management & Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Traffic Camera Market Size will Hit $18.1 Billion by 2027, at a CAGR of 13.1%
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.
By Component
By Camera Type
By Deployment Type
By Application
By Country
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