Global Road Safety Market - By Solutions (Red light enforcement, Speed enforcement, Incident detection & communication system, Bus lane compliance, Automatic license plate recognition, & Others) By Services (Professional services, Managed services) By Technology(Radar & Sensor-based devices, Analytics, and Surveillance) By Regions (Americas, EMEA, and, APAC) Drivers, Opportunities, Restraints, Trends, and Forecast to 2024
Road safety can be defined as a measure taken to prevent incidents on the road that could elevate the danger for road users as well as critical infrastructure along the way. Thus, technologies that enhance road safety are crucial for government bodies, taking into consideration the “cost-of-loss” resulting from the loss of life and/or infrastructural damages. Additionally, the time lost to traffic congestions due to such incidents further aggravates the concerns for civil authorities and road users alike.
Strict rules & regulations have been implemented across various cities to ensure smooth flow of traffic. Consequently, various technology vendors have been able to leverage their capabilities to enhance road safety by implementing technologies such as real-time traffic monitoring with sensors to detect speed violations, in-vehicle driver assistance, and incident detection systems in case of emergency/road accidents.
The availability of innovative technologies, including driver assistance, V2V communication, incident detection and response, and automatic number plate recognition systems, has bolstered the overall road safety ingenuities across smart city initiatives shaping up globally; thus, resulting in a huge window of opportunity for the key players in the market.
According to Infoholic Research, the global road safety market revenue is expected to reach $7.01 billion by 2024, growing at a CAGR of around 17.16% during the forecast period. The market is experiencing growth due to the increasing mobility and rise in the number of vehicles on the road. In addition, the construction of safer roads, development of infrastructure for the safety of pedestrians & cyclists, and the adoption of safer riding measures will further reduce injuries and contribute to the safety among the population.
Market Segmentation Analysis:
The report provides insights about major technology trends, supporting solutions & services, and application areas that govern road safety globally. The evaluation is backed with quantitative and qualitative analysis, historical data, and other supportable projections about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on vendor assessments from annual reports, whitepapers, press releases, and investor presentations along with end-user analysis for case studies. Thus, the research report serves every side of the market and is segmented based on regional markets, types, applications, and end-users.
The Americas is expected to dominate the market, with US and Canada being the forefront adopters of technologies with better test facilities and rapid implementations backed with sufficient funding to implement infrastructural projects quickly compared to other regions. The EMEA region is next to the Americas with the presence of a large number of equipment manufacturers and solution providers.
The countries covered in the report are Canada, Mexico, UK, France, US, Germany, India, China, and Japan. Among these, Japan, US, and China are expected to grow at a high rate during the forecast period owing to an increase in the penetration rate of connected devices and growing adoption of cloud computing.
The report contains an in-depth analysis of the vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The key players operating in the road safety market include Motorola Solutions, American Traffic Solutions, Rad Data Communication, Jenoptik, Kapsch AG, Swarco AG, Redflex, Thales, Tyco, Alcatel-Lucent, and Siemens AG. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
The report covers and analyzes the global road safety market. Various strategies such as joint ventures, partnerships, collaborations, and contracts have been considered. In addition, partnerships are expected to increase as customers are in search of better solutions. It is likely that the number of mergers, acquisitions, and strategic partnerships will increase as well during the forecast period.
The report includes complete insights of the industry and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.
The report provides an in-depth analysis of the global road safety market with an aim to reduce time to market for products and services, reduce operational cost, improve accuracy, and operational performance. The report covers types, applications, and regions. Further, the report provides details about the major challenges impacting the market growth.
1.1 Industry Overview
1.2 Industry Trends
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets
3.4 New technology improves road safety
4 Market Outlook
4.2 Regulatory Bodies & Standards
4.3 Government Spending and Initiatives
5 Road Safety Market Within The Vehicle
6 Road Safety Market Oems Provider
7 Road Safety Market: Government Role
7.2 Porter 5 (Five) Forces
8 Market Characteristics
8.2 Market Segmentation
8.3 Market Dynamics
188.8.131.52 Increasing mobility and associated demand for transportation systems
184.108.40.206 Increase in urbanization
220.127.116.11 Increase in road accidents/fatality rate
18.104.22.168 Insufficient government funding in decentralized areas
22.214.171.124 Barrier to implement advanced road safety infrastructure
126.96.36.199 over growing population of road users
188.8.131.52 Smart city initiatives
184.108.40.206 Introduction of SOSmart car accident service
220.127.116.11 Growth in usage based car insurance
8.3.4 DRO – Impact Analysis
9 Trends, Roadmap and Projects
9.1 Market Trends & Impact
10 Solutions: Market Size & Analysis
10.1.1 Market Size and Analysis
10.2 Red Light Enforcement
10.3 Speed Enforcement
10.4 Incident Detection & communication System
10.5 Bus Lane Compliance
10.6 Automatic License Plate Recognition
10.7 Others (Stop Sign Enforcement, Parking, Congestion Charges etc)
11 Services: Market Size & Analysis
11.1.1 Market Size and Analysis
11.2 Professional Services
11.3 Managed Services
12 Technology: Market Size & Analysis
12.1.1 Market Size and Analysis
12.2 Radar and Sensor-based Devices
13 Regions: Market Size & Analysis
13.1.1 Market Size and Analysis
13.5 Vendor Profiles
13.5.1 Flir Systems
18.104.22.168 Business unit
22.214.171.124 Geographic revenue
126.96.36.199 Business focus
188.8.131.52 SWOT analysis
184.108.40.206 Business strategies
13.5.2 Siemens AG
220.127.116.11 Business unit
18.104.22.168 Geographic revenue
22.214.171.124 Business focus
126.96.36.199 SWOT analysis
188.8.131.52 Business strategies
13.5.3 Kapsch AG
184.108.40.206 Business unit
220.127.116.11 Geographic revenue
18.104.22.168 Business focus
22.214.171.124 SWOT analysis
126.96.36.199 Business strategies
188.8.131.52 Business unit
184.108.40.206 Geographic revenue
220.127.116.11 Business focus
18.104.22.168 SWOT analysis
22.214.171.124 Business strategies
13.5.5 Motorola Solutions
126.96.36.199 Business unit
188.8.131.52 Geographic revenue
184.108.40.206 Business focus
220.127.116.11 SWOT analysis
18.104.22.168 Business strategies
22.214.171.124 Business unit
126.96.36.199 Geographic revenue
188.8.131.52 Business focus
184.108.40.206 SWOT analysis
220.127.116.11 Business strategies
14 Global Generalist
14.1 Information Engineering Group, Inc.
14.2 Rad Data Communication
14.3 Tyco traffic & transportation
14.4 Alcatel Lucent
14.7 Redflex Holdings Limited
14.8 American Traffic Solutions
14.9 Sensys Gatso Group AB.
15 Companies to Watch for
15.1 Elsys Intelligent Devices
15.2 Light metrics
15.3 Safe drive Systems
16 Competitive Landscape
16.1 Competitor Comparison Analysis
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.