Smart Traffic Camera Market Report 2025

The smart traffic camera market size has grown rapidly in recent years. It will grow from $13.52 billion in 2024 to $15.47 billion in 2025 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to urbanization and population growth, traffic congestion concerns, data-driven decision making, public awareness and education, economic growth and increased vehicle ownership.

The smart traffic camera market size is expected to see rapid growth in the next few years. It will grow to $27.58 billion in 2029 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to government initiatives for smart cities, road safety and accident prevention, global events impacting traffic patterns, urban mobility solutions, evolving regulatory environment. Major trends in the forecast period include integration of artificial intelligence (ai), advanced video analytics for traffic monitoring, traffic flow optimization and congestion management, real-time incident detection and response, smart parking solutions, data privacy and ethical considerations.

The smart traffic camera market is poised for growth due to an increase in government concerns related to public safety. Governments worldwide are increasingly alarmed by the growing number of road accidents, injuries, and fatalities. Smart traffic cameras, specialized devices that monitor road intersections and enhance pedestrian safety, play a crucial role in addressing these concerns. An example of such commitment is evident in the World Health Organization's launch of the Second Decade of Action in October 2021, accompanied by the publication of the Global Plan for the Decade of Action for Road Safety 2021-30 in June 2022. The government's heightened focus on public safety is a key driver propelling the growth of the smart traffic camera market.

An increasing number of road accidents is anticipated to drive the growth of the smart traffic camera market in the coming years. Road accidents are incidents that occur on roadways when vehicles collide with one another or with other objects, leading to vehicle damage and injuries to those involved. Smart traffic cameras are vital in mitigating road accidents by monitoring and enforcing traffic regulations while enhancing overall road safety through real-time surveillance and data-driven interventions. For instance, in 2023, the Transport Accident Commission, an Australian government agency, reported that 295 people lost their lives on Victorian roads, reflecting a 22.4% increase (54 more fatalities) compared to 2022. Additionally, there were 261 fatal crashes, an increase of 22 (9%) from the 239 recorded in the previous year. Thus, the rising number of road accidents is propelling the growth of the smart traffic camera market.

Technological development stands out as a key trend in the smart traffic camera market, with major companies focusing on innovative technology solutions to strengthen their market position. An illustrative example is Mobileye Global Inc., an Israel-based system software company, which launched the world's first camera-only Intelligent Speed Assist (ISA) solution in July 2023. This groundbreaking system, tested and certified in Europe, addresses the new EU General Safety Regulation standards. The ISA system, relying solely on cameras, employs computer vision and machine learning to detect traffic signs and visual signals in the surrounding environment without the need for additional sensors or map data. This technological advancement exemplifies the industry's commitment to cutting-edge solutions and is poised to contribute to the growth of the smart traffic camera market.

Prominent companies in the smart traffic camera market are intensifying their efforts to introduce AI-enabled cameras, exemplified by products such as Sphinx, to secure a competitive edge. An AI-enabled camera is equipped with artificial intelligence capabilities, enabling it to analyze visual data, recognize patterns, and make intelligent decisions. SmartCow Ai Technologies Private Limited, based in India, unveiled Sphinx in October 2023. This edge AI camera, designed for smart city applications, incorporates 5G connectivity for seamless data transmission in real-time. Sphinx boasts advanced features, including people counting, path tracing, and intrusion detection, catering to diverse smart city use cases. The camera's AI processing capabilities leverage NVIDIA's advanced system-on-modules, enabling real-time analytics and intelligent decision-making within smart city environments.

In June 2022, Siemens Mobility, a rail company based in Germany, acquired Yunex Traffic from the Siemens Group for $0.9975 billion. This acquisition is intended to enhance Siemens's position in the smart mobility and intelligent traffic management sectors. By acquiring Yunex Traffic, which specializes in digital traffic solutions, Siemens aims to bolster its capabilities in these areas. Yunex Traffic is also a Germany-based company focused on intelligent traffic solutions.

Major companies operating in the smart traffic camera market are Axis Communications AB, Jenoptik AG, Teledyne FLIR LLC, Tattile S.r.l., Sensys Gatso Group AB, Kapsch TrafficCom AG, ARH Inc., FLIR Systems Inc., Hanwha Techwin Co. Ltd., Pelco by Schneider Electric, Bosch Security Systems, Hikvision Digital Technology Co. Ltd., VIVOTEK Inc., Dahua Technology Co. Ltd., Avigilon Corporation, Genetec Inc., March Networks Corporation, IndigoVision Group plc, Verint Systems Inc., Honeywell International Inc., Siemens AG.

North America was the largest region in the smart traffic camera market in 2024. The regions covered in the smart traffic camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart traffic camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Smart traffic cameras serve the purpose of monitoring intersections and enhancing pedestrian safety. These devices integrate multiple technologies to deter distractions and enhance road safety by detecting drivers using electronic devices while driving. They boast high-resolution capabilities and sensors to gather real-time data, thereby optimizing traffic flow.

The key components of a smart traffic camera include hardware, software, and service provisions. Hardware comprises the physical components of a computer and its associated devices. These cameras come in various types such as fixed, mobile speed, red light, surveillance, traffic monitoring, ANPR cameras, and others. They are utilized in traffic monitoring, enforcement, toll management, surveillance, traffic management, and other similar applications.

The smart traffic camera market research report is one of a series of new reports that provides smart traffic camera market statistics, including smart traffic camera industry global market size, regional shares, competitors with a smart traffic camera market share, detailed smart traffic camera market segments, market trends and opportunities, and any further data you may need to thrive in the smart traffic camera industry. This smart traffic camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart traffic camera market consists of revenues earned by entities by providing traffic services such as implementation and integration services, support and maintenance services, and consulting services. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart traffic camera market also includes cameras and accessories. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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