Roadside Sensing Devices Market Revenue was valued at USD 3.2 Billion in 2024 and is estimated to reach USD 7.5 Billion by 2033, growing at a CAGR of 10.2% from 2026 to 2033.
South Korea's Roadside Sensing Devices Market is experiencing rapid growth, driven by the nation's commitment to smart transportation and road safety. The government's investment of USD 60 million in 2024 to upgrade traffic systems, including the installation of Automatic Number Plate Recognition (ANPR) technology in cities like Seoul and Busan, exemplifies this trend.
Key types of roadside sensing devices include:
ANPR Systems: High-resolution cameras that read vehicle plates, aiding in traffic enforcement and parking management. Seoul allocated USD 20 million to enhance parking and reduce traffic violations using ANPR.
Radar and Video Sensors: Utilized by government traffic authorities, which hold a 26.2% market share in traffic sensors, to control traffic flow and ensure road safety.
Advanced Driver Assistance Systems (ADAS): The market for ADAS in South Korea is expected to reach USD 2,062.8 million by 2030, growing at a CAGR of 12.8% from 2024 to 2030.
Industries are increasingly requiring these technologies to meet safety standards and improve traffic management. The automotive sector, for instance, is a significant driver, with the production of approximately 4.24 million vehicles in 2023, up from 3.76 million the previous year. This surge necessitates advanced sensors for features like lane departure warnings and adaptive cruise control.
Moreover, the integration of sensors into smart city projects is paramount. The South Korea Traffic Sensor Market is propelled by the need for real-time data collection and analysis to optimize transportation systems. Challenges such as sensor calibration and environmental factors are being addressed through government policies that support research and development in sensor innovation.
In summary, South Korea's focus on enhancing traffic efficiency and reducing accidents through advanced sensor technologies is shaping the future of its Roadside Sensing Devices Market.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Roadside Sensing Devices Market
Inductive Loop Sensors
Infrared Sensors
Microwave Sensors
Video Detection Systems
Radar Sensors
Passive Sensors
Active Sensors
Hybrid Sensors
Traffic Monitoring
Parking Management
Road Condition Monitoring
Environmental Monitoring
Vehicle Counts and Classification
Wired Connectivity
Wireless Connectivity
Bluetooth Technology
Wi-Fi Connectivity
Government Agencies
Transportation Authorities
Private Enterprises
Smart City Developers
Research Institutions
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Roadside Sensing Devices Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Roadside Sensing Devices Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Roadside Sensing Devices Market, By Type
6. South Korea Roadside Sensing Devices Market, By Application
7. South Korea Roadside Sensing Devices Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Roadside Sensing Devices Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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