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

  • Product Code:
  • Published Date:
    Mar 2019
  • Region:
  • Pages:
  • Category:
    ICT & Telecom
  • Publisher:
    Infoholic Research
Road Safety Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up 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.
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.
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.
Table of Contents
1 Industry Outlook 10
1.1 Industry Overview 10
1.2 Industry Trends 11
2 Report Outline 13
2.1 Report Scope 13
2.2 Report Summary 13
2.3 Research Methodology 14
2.4 Report Assumptions 15
3 Market Snapshot 16
3.1 Total Addressable Market (TAM) 16
3.2 Segmented Addressable Market (SAM) 17
3.3 Related Markets 18
3.4 New technology improves road safety 18
4 Market Outlook 20
4.1 Overview 20
4.2 Regulatory Bodies & Standards 22
4.3 Government Spending and Initiatives 23
5.1 Overview 25
6.1 Overview 27
7.1 Overview 28
7.2 Porter 5 (Five) Forces 28
8 Market Characteristics 30
8.1 Ecosystem 30
8.2 Market Segmentation 31
8.3 Market Dynamics 31
8.3.1 Drivers 32 Increasing mobility and associated demand for transportation systems 32 Increase in urbanization 32 Increase in road accidents/fatality rate 32
8.3.2 Restraints 33 Insufficient government funding in decentralized areas 33 Barrier to implement advanced road safety infrastructure 33 over growing population of road users 33
8.3.3 Opportunities 33 Smart city initiatives 33 Introduction of SOSmart car accident service 34 Growth in usage based car insurance 34
8.3.4 DRO – Impact Analysis 35
9 Trends, Roadmap and Projects 36
9.1 Market Trends & Impact 36
10 Solutions: Market Size & Analysis 38
10.1 Overview 38
10.1.1 Market Size and Analysis 38
10.4 Incident Detection & communication System 41
10.6 Automatic License Plate Recognition 43
10.7 Others (Stop Sign Enforcement, Parking, Congestion Charges etc) 44
11 Services: Market Size & Analysis 46
11.1 Overview 46
11.1.1 Market Size and Analysis 46
12 Technology: Market Size & Analysis 50
12.1 Overview 50
12.1.1 Market Size and Analysis 50
13 Regions: Market Size & Analysis 55
13.1 Overview 55
13.1.1 Market Size and Analysis 55
13.2 Americas 56
13.3 EMEA 57
13.4 APAC 58
13.5 Vendor Profiles 60
13.5.1 Flir Systems 60 Overview 60 Business unit 60 Geographic revenue 60 Business focus 60 SWOT analysis 61 Business strategies 62
13.5.2 Siemens AG 62 Overview 62 Business unit 62 Geographic revenue 62 Business focus 62 SWOT analysis 63 Business strategies 64
13.5.3 Kapsch AG 64 Overview 64 Business unit 64 Geographic revenue 64 Business focus 64 SWOT analysis 65 Business strategies 65
13.5.4 Thales 65 Overview 65 Business unit 65 Geographic revenue 66 Business focus 66 SWOT analysis 66 Business strategies 67
13.5.5 Motorola Solutions 67 Overview 67 Business unit 67 Geographic revenue 67 Business focus 67 SWOT analysis 68 Business strategies 69
13.5.6 3M 69 Overview 69 Business unit 69 Geographic revenue 69 Business focus 69 SWOT analysis 70 Business strategies 71
14 Global Generalist 72
14.1 Information Engineering Group, Inc. 72
14.1.1 Overview 72
14.2 Rad Data Communication 72
14.2.1 Overview 72
14.3 Tyco traffic & transportation 72
14.3.1 Overview 72
14.4 Alcatel Lucent 73
14.4.1 Overview 73
14.5 Huawei 73
14.5.1 Overview 73
14.6 ArcelorMittal 73
14.6.1 Overview 73
14.7 Redflex Holdings Limited 74
14.7.1 Overview 74
14.8 American Traffic Solutions 74
14.8.1 Overview 74
14.9 Sensys Gatso Group AB. 75
14.9.1 Overview 75
15 Companies to Watch for 76
15.1 Elsys Intelligent Devices 76
15.1.1 Overview 76
15.2 Light metrics 76
15.2.1 Overview 76
15.3 Safe drive Systems 77
15.3.1 Overview 77
16 Competitive Landscape 78
16.1 Competitor Comparison Analysis 78
Annexure 79
 Acronyms 79

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Motorola Solutions, American Traffic Solutions, Rad Data Communication, Jenoptik, Kapsch AG, Swarco AG, Redflex, Thales, Tyco, Alcatel-Lucent, and Siemens AG.
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