Video Vehicle Detection Market Scope
The rapidly increasing number of vehicles is one of the primary consequences of the accelerating pace of urbanization, particularly in developing countries. This number of vehicles can cause severe problems such as traffic jams and congestion, which leads to air pollution, increased fuel consumption, noise, and a variety of other negative effects. Because of its non-intrusiveness and comprehensive vehicle behavior data collection capabilities, video-based vehicle detection technology is an essential component of Intelligent Transportation Systems (ITS). Based on the Harris-Stephen corner detector algorithm, this paper proposes an efficient video-based vehicle detection system. The algorithm was used to create a self-contained vehicle detection and tracking system that calculates vehicle counts and speeds on arterial and freeways. The proposed video-based vehicle detection system was designed to eliminate the need for complex calibration, to be resistant to contrast variations, and to perform better with low-resolution videos. The algorithm's performance in terms of vehicle count accuracy and speed was evaluated. The proposed system outperforms a commercial vehicle detection system in terms of performance.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
3M (United States), Citilog (France), Efkon AG (Austria), FLIR Systems, Inc. (United States), Banner Engineering (United States), Image Sensing Systems Inc. (United States), Kapsch Group (Austria), LeddarTech (Canada), Q-Free ASA (Norway) and Siemens AG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are RAI Products (United States) and Axiomtek (Republic of China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Video Vehicle Detection market by Type (Inductive Loop Detectors (Cars), Microwave Vehicle Detectors (Cars and Bikes) and Video Detection (Cars and Bikes)), by Application (Arterial Roadways and Freeways) and Region with country level break-up.
On the basis of geography, the market of Video Vehicle Detection has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 29 April 2021, Intelligent transportation solutions company TagMaster has announced it is acquiring all outstanding shares in Citilog. Citilog was the first company to introduce video-based automatic incident detection in 1997. With more than 20 years of research and development in the field of analytics applied to traffic solutions Citilog has constantly demonstrated a strong commitment to the traffic industry, in line with its vision.
Market Trend
- Rising Need For Real-Time Traffic Information Systems
Market Drivers
- Increasing Investments In Smart City Infrastructure
- The Growing Number Of On-Road Vehicles
Opportunities
- Increase In Demand Of Real-Time Traffic Tracking, There Is Huge Opportunity In This Market
Restraints
- Integration Complexities Over Video Vehicle Detection
Challenges
- High Cost Associated With Comprehensive Occupancy Sensing System
- Security Threats And Hackers Challenge The Growth Of The Market
Key Target Audience
New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others