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

  • 98
    Pages

  • 04
    Tables

  • 58
    Charts

  • 3/0
    Regions/ Countries

  • 17
    Companies

  • 10
    Enquiry Hours

Overview:

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.

Market Analysis:

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.

Regional Analysis

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.

Competitive Analysis:

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.

Benefits

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     Industry Outlook 

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 

4.1        Overview

4.2        Regulatory Bodies & Standards

4.3        Government Spending and Initiatives

5     Road Safety Market Within The Vehicle 

5.1        Overview

6     Road Safety Market Oems Provider

6.1        Overview

7     Road Safety Market: Government Role 

7.1        Overview

7.2        Porter 5 (Five) Forces

8     Market Characteristics 

8.1        Ecosystem

8.2        Market Segmentation

8.3        Market Dynamics

8.3.1     Drivers

8.3.1.1 Increasing mobility and associated demand for transportation systems

8.3.1.2 Increase in urbanization

8.3.1.3 Increase in road accidents/fatality rate

8.3.2     Restraints

8.3.2.1 Insufficient government funding in decentralized areas

8.3.2.2 Barrier to implement advanced road safety infrastructure

8.3.2.3 over growing population of road users

8.3.3     Opportunities

8.3.3.1 Smart city initiatives

8.3.3.2 Introduction of SOSmart car accident service

8.3.3.3 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     Overview

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     Overview

11.1.1  Market Size and Analysis

11.2     Professional Services

11.3     Managed Services

12  Technology: Market Size & Analysis 

12.1     Overview

12.1.1  Market Size and Analysis

12.2     Radar and  Sensor-based Devices

12.3     Analytics

12.4     Survillence

13  Regions: Market Size & Analysis 

13.1     Overview

13.1.1  Market Size and Analysis

13.2     Americas

13.3     EMEA

13.4     APAC

13.5     Vendor Profiles

13.5.1  Flir Systems

13.5.1.1  Overview

13.5.1.2 Business unit

13.5.1.3 Geographic revenue

13.5.1.4 Business focus

13.5.1.5 SWOT analysis

13.5.1.6 Business strategies

13.5.2  Siemens AG

13.5.2.1 Overview

13.5.2.2 Business unit

13.5.2.3  Geographic revenue

13.5.2.4  Business focus

13.5.2.5  SWOT analysis

13.5.2.6   Business strategies

13.5.3  Kapsch AG

13.5.3.1 Overview

13.5.3.2 Business unit

13.5.3.3 Geographic revenue

13.5.3.4  Business focus

13.5.3.5  SWOT analysis

13.5.3.6 Business strategies

13.5.4  Thales

13.5.4.1 Overview

13.5.4.2 Business unit

13.5.4.3  Geographic revenue

13.5.4.4   Business focus

13.5.4.5   SWOT analysis

13.5.4.6   Business strategies

13.5.5  Motorola Solutions

13.5.5.1  Overview

13.5.5.2  Business unit

13.5.5.3   Geographic revenue

13.5.5.4   Business focus

13.5.5.5   SWOT analysis

13.5.5.6 Business strategies

13.5.6    3M

13.5.6.1 Overview

13.5.6.2  Business unit

13.5.6.3  Geographic revenue

13.5.6.4  Business focus

13.5.6.5   SWOT analysis

13.5.6.6   Business strategies

14  Global Generalist 

14.1     Information Engineering Group, Inc.

14.1.1  Overview

14.2     Rad Data Communication

14.2.1  Overview

14.3     Tyco traffic & transportation

14.3.1  Overview

14.4     Alcatel Lucent

14.4.1  Overview

14.5     Huawei

14.5.1  Overview

14.6     ArcelorMittal

14.6.1  Overview

14.7     Redflex Holdings Limited

14.7.1  Overview

14.8     American Traffic Solutions

14.8.1  Overview

14.9     Sensys Gatso Group AB.

14.9.1  Overview

15  Companies to Watch for 

15.1     Elsys Intelligent Devices

15.1.1  Overview

15.2     Light metrics

15.2.1  Overview

15.3     Safe drive Systems

15.3.1  Overview

16  Competitive Landscape 

16.1     Competitor Comparison Analysis

Annexure 

Acronyms

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
  • Forecasting

infoholic Research Methodology

Market related information is congregated from both primary and secondary sources.

Primary 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.

Secondary sources 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.