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Road Safety Market by Solution and by Service - Global Forecast to 2021

  • ID: 3950069
  • Report
  • November 2016
  • Region: Global
  • 117 Pages
  • Markets and Markets
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The Road Safety Market Size is Estimated to Grow from USD 2.60 Billion in 2016 to USD 4.06 Billion by 2021, at a CAGR of 9.3%

FEATURED COMPANIES

  • 3M
  • Flir Systems, Inc.
  • Jenoptik AG
  • Kapsch Trafficcom AG
  • Motorola Solutions Inc.
  • Redflex Holdings Limited
  • MORE

“Road safety market is expected to grow at a CAGR of 9.3% from 2016 to 2021”

The road safety market size is estimated to grow from USD 2.60 billion in 2016 to USD 4.06 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.3%. Increase in mobility and the associated demands on transportation systems, strict government regulations for road safety, and increase in road accidents/fatality rate are driving the road safety market. However, lack of awareness and engineering challenges are some of the restraints for the growth of the market.

“Automatic license plate recognition is expected to be the fastest growing solution in road safety”

Automatic license plate recognition plays a key role in the planning and control of modern cities and can be deployed for a variety of applications. The system is easy to install with functions such as video cameras, speed calculation, and alarms to detect a particular vehicle.

“Red light enforcement is expected to be the largest contributor in the road safety solutions market”

Red light enforcement is one of the most important safety control systems in traffic management. This system is easy and cost-efficient, compared to other safety devices. Also, with the advent of smart cities and safety initiatives governments tend to extensively install red light enforcement solutions.

“North America is expected to have the largest market size and Asia-Pacific (APAC) projected to grow at the highest CAGR”

North America is expected to hold the largest share of the road safety market owing to early adoption of technology and the presence of large number of solution providers.

However, the APAC region is projected to grow at the fastest pace as it has undergone tremendous economic growth, political transformation, social changes, and active government initiatives. Countries such as India, China, Philippines, and Australia have embarked upon ambitious and important initiatives to enhance the strategic planning, agency capability, and evaluation of road safety projects.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people.

The break-up of profile of primary participants is as follows:

  • By Company: Tier 1: 55 %, Tier 2: 20%, and Tier 3: 25%
  • By Designation: C level: 60%, Director level: 25%, Others: 15%
  • By Region: North America: 10%, Europe: 20%, APAC: 40%, Rest of the World (RoW): 30%

The road safety market report segments the market on the basis of components and regions. The report also contains the profiling and competitive landscape of the major technology vendors. Some of the major technology vendors include Jenoptik AG, Kapsch TrafficCom AG, Sensys Gatso Group AB, Redflex Holdings Limited, American Traffic Solutions, Inc., 3M, FLIR Systems, Inc., Motorola Solutions, SWARCO AG, and Information Engineering Group Inc.

Research Coverage:

The report provides a picture on road safety market across different regions. It aims at estimating the market size and future growth potential of this market across different segments such as solution, service, and regions.

Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Reasons to buy this report:

From an insight perspective, this research report has focused on various levels of analysis-industry analysis (industry trends), market analysis of top players, value chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the road safety market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on road safety offered by the top players in the global road safety market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the road safety market
  • Market Development: Comprehensive information about lucrative emerging markets-the report analyzes the markets for road safety across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global road safety market
  • Competitive Assessment: In-depth assessment of strategies, products, and service offerings of the leading players in the global road safety market
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FEATURED COMPANIES

  • 3M
  • Flir Systems, Inc.
  • Jenoptik AG
  • Kapsch Trafficcom AG
  • Motorola Solutions Inc.
  • Redflex Holdings Limited
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Attractive Market Opportunities in the Road Safety Market
    4.2 Road Safety Market, By Region, 2016 vs 2021
    4.3 Road Safety Market, By Solution, 2016-2021
    4.4 Road Safety Market: By Region and Solution, 2016
    4.5 Lifecycle Analysis, By Region 2016
    4.6 Market Investment Scenario

5 Market Overview
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 By Solution
           5.3.2 By Service
           5.3.3 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Increase in Mobility and the Associated Demands on Transportation Systems
                    5.4.1.2 Increase in Urbanization
                    5.4.1.3 Increase in Road Accidents/Fatality Rate
                    5.4.1.4 Growing Government Regulations for Road Safety
           5.4.2 Restraints
                    5.4.2.1 Insufficient Government Funding in Decentralized Areas: Barrier to Implement Advanced Road Safety Infrastructure
           5.4.3 Opportunities
                    5.4.3.1 Rise in Demand for Advanced Infrastructure Development
                    5.4.3.2 Smart City Initiatives
           5.4.4 Challenges
                    5.4.4.1 Heavy Spending on Road Maintenance Limits the Budget for Advanced Road Technologies Implementation
    5.5 Innovation Spotlight

6 Industry Trends
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Strategic Benchmarking
    6.4 Demand Overview

7 Road Safety Market Analysis, By Component
    7.1 Introduction

8 Road Safety Market Analysis, By Solution
    8.1 Introduction
    8.2 Red Light Enforcement
    8.3 Speed Enforcement
    8.4 Incident Detection System
    8.5 Bus Lane Compliance
    8.6 Automatic License Plate Recognition
    8.7 Others

9 Road Safety Market Analysis, By Service
    9.1 Introduction
    9.2 Professional Services
           9.2.1 Consulting and System Integration
           9.2.2 Training, Support, and Maintenance
           9.2.3 Risk Assessment and Analysis
    9.3 Managed Services

10 Geographic Analysis
     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia-Pacific
     10.5 Middle East and Africa
     10.6 Latin America

11 Competitive Landscape
     11.1 Overview
     11.2 Portfolio Comparison
     11.3 Competitive Situation and Trends
     11.4 Agreements, Partnerships, and Collaborations
     11.5 Mergers and Acquisitions
     11.6 Business Expansions
     11.7 New Launches

12 Company Profiles
     12.1 Introduction
     12.2 Jenoptik AG
     12.3 Kapsch Trafficcom AG
     12.4 Sensys Gatso Group AB
     12.5 Redflex Holdings Limited
     12.6 American Traffic Solutions, Inc. (ATS)
     12.7 3M
     12.8 Flir Systems, Inc.
     12.9 Motorola Solutions Inc.
     12.10 Swarco AG
     12.11 Information Engineers Group Inc.

List of Tables
Table 1 Road Safety Components Market Size and Growth, 2014-2021 (USD Billion)
Table 2 Road Safety Market Size, By Component, 2014-2021 (USD Million)
Table 3 Road Safety Market Size, By Solution, 2014-2021 (USD Million)
Table 4 Red Light Enforcement: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 5 Speed Enforcement: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 6 Incident Detection System: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 7 Bus Lane Compliance: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 8 Automatic License Plate Recognition: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 9 Others: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 10 Road Safety Market Size, By Service, 2014-2021 (USD Million)
Table 11 Road Safety Market Size, By Service, 2014-2021 (USD Million)
Table 12 Consulting and System Integration: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 13 Training, Support, and Maintenance: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 14 Risk Assessment and Analysis: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 15 Managed Services: Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 16 Road Safety Market Size, By Region, 2014-2021 (USD Million)
Table 17 North America: Road Safety Market Size, By Component, 2014-2021 (USD Million)
Table 18 North America: Road Safety Market Size, By Country, 2014-2021 (USD Million)
Table 19 North America: Road Safety Market Size, By Solution, 2014-2021 (USD Million)
Table 20 North America: Road Safety Market Size, By Service, 2014-2021 (USD Million)
Table 21 North America: Road Safety Market Size, By Professional Service, 2014-2021 (USD Million)
Table 22 Europe: Road Safety Market Size, By Component, 2014-2021 (USD Million)
Table 23 Europe: Road Safety Market Size, By Country, 2014-2021 (USD Million)
Table 24 Europe: Road Safety Market Size, By Solution, 2014-2021 (USD Million)
Table 25 Europe: Road Safety Market Size, By Service, 2014-2021 (USD Million)
Table 26 Europe: Road Safety Market Size, By Professional Service, 2014-2021 (USD Million)
Table 27 Asia-Pacific: Road Safety Market Size, By Component, 2014-2021 (USD Million)
Table 28 Asia-Pacific: Road Safety Market Size, By Country, 2014-2021 (USD Million)
Table 29 Asia-Pacific: Road Safety Market Size, By Solution, 2014-2021 (USD Million)
Table 30 Asia-Pacific: Road Safety Market Size, By Service, 2014-2021 (USD Million)
Table 31 Asia-Pacific: Road Safety Market Size, By Professional Service, 2014-2021 (USD Million)
Table 32 Middle East and Africa: Road Safety Market Size, By Component, 2014-2021 (USD Million)
Table 33 Middle East and Africa: Road Safety Market Size, By Country, 2014-2021 (USD Million)
Table 34 Middle East and Africa: Road Safety Market Size, By Solution, 2014-2021 (USD Million)
Table 35 Middle East and Africa: Road Safety Market Size, By Service, 2014-2021 (USD Million)
Table 36 Middle East and Africa: Road Safety Market Size, By Professional Service, 2014-2021 (USD Million)
Table 37 Latin America: Road Safety Market Size, By Component, 2014-2021 (USD Million)
Table 38 Latin America: Road Safety Market Size, By Country, 2014-2021 (USD Million)
Table 39 Latin America: Road Safety Market Size, By Solution, 2014-2021 (USD Million)
Table 40 Latin America: Road Safety Market Size, By Service, 2014-2021 (USD Million)
Table 41 Latin America: Road Safety Market Size, By Professional Service, 2014-2021 (USD Million)
Table 42 Agreements, Partnerships, and Collaborations, 2014-2016
Table 43 Mergers and Acquisitions, 2014-2016
Table 44 Business Expansions, 2014-2016
Table 45 New Launches, 2014-2016

List of Figures
Figure 1 Global Road Safety Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Road Safety Market is Expected to Decline During the Forecast Period
Figure 7 Road Safety Market: Top Three Segments in 2016
Figure 8 North America is Expected to Hold the Largest Market Share in 2016
Figure 9 Regulatory Compliance is Driving the Road Safety Market Towards Growth
Figure 10 Asia-Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Automatic License Plate Recognition Solution to Grow at the Highest CAGR Among All Solutions
Figure 12 Red Light Enforcement Solution is Expected to Hold the Largest Market Share in 2016
Figure 13 Evolution of the Road Safety Market
Figure 14 Road Safety Market Segmentation: By Solution
Figure 15 Road Safety Market Segmentation: By Service
Figure 16 Road Safety Market Segmentation: By Region
Figure 17 Road Safety Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Road Safety Market: Value Chain
Figure 19 Strategic Benchmarking: Partnerships, Agreements, and Acquisitions of Top Vendors
Figure 20 Road Traffic Fatality Rates, By Region
Figure 21 Road Traffic Deaths By Type of Road User, Worldwide
Figure 22 Services Segment is Expected to Grow at Higher Rate During the Forecast Period
Figure 23 Automatic License Plate Recognition Solution is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Managed Services Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 25 Consulting and System Integration Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Regional Snapshot: Asia-Pacific is the Emerging Region in the Road Safety Market
Figure 27 Asia-Pacific is Expected to Grow at the Highest CAGR From During the Forecast Period
Figure 28 Regional Snapshot: Asia-Pacific as A Hotspot During the Period 2016-2021
Figure 29 North America Market Snapshot
Figure 30 Asia-Pacific Market Snapshot
Figure 31 Companies Adopted Partnership, Agreement, and Collaboration as the Key Growth Strategy Between 2014 and 2016
Figure 32 Road Safety Market: Portfolio Comparison
Figure 33 Market Evaluation Framework
Figure 34 Battle for Market Share: Agreement, Partnership, and Collaboration Was the Key Strategy Adopted By the Market Players Between 2014 and 2016
Figure 35 Geographic Revenue Mix of the Top 4 Market Players
Figure 36 Jenoptik AG: Company Snapshot
Figure 37 Jenoptik AG: SWOT Analysis
Figure 38 Kapsch Trafficom AG: Company Snapshot
Figure 39 Kapsch Trafficcom AG: SWOT Analysis
Figure 40 Sensys Gatso Group AB: Company Snapshot
Figure 41 Sensys Gatso Group AB: SWOT Analysis
Figure 42 Redflex Holdings Limited: Company Snapshot
Figure 43 Redflex Holdings Limited: SWOT Analysis
Figure 44 American Traffic Solutions, Inc: SWOT Analysis
Figure 45 3M: Company Snapshot
Figure 46 Flir Systems, Inc.: Company Snapshot
Figure 47 Motorola Solutions Inc.: Company Snapshot

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • 3M
  • Flir Systems, Inc.
  • Jenoptik AG
  • Kapsch Trafficcom AG
  • Motorola Solutions Inc.
  • Redflex Holdings Limited
  • MORE

The road safety market size is expected to grow from USD 2.60 Billion in 2016 to USD 4.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period. The major growth drivers of the market include the increasing number of road accidents and resulting fatalities, government regulations, and increasing infrastructural development initiatives such as intelligent transportation, smart cities, and smart highways.

The road safety market report has been segmented on the basis of solutions, services, and regions. On the basis of solutions, it includes red light enforcement, speed enforcement, incident detection system, bus lane compliance, automatic license plate recognition, and others. The red light enforcement solution is expected to hold the largest share of the road safety solution market. The key trends contributing to this market growth are the increased usage of connected devices and strict regulatory compliances.

Among the services, the professional services segment is expected to hold the largest share of the road safety services market. The primary driving force for the adoption of professional services is the complexity of smart solutions infrastructure which leads to increased need for consulting services. The managed services segment is projected to witness the highest growth rate due to the growing need of organizations to attain economies of scale and comply with different regulatory compliances across the globe.

The global road safety market research report segments the market on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. The North American region is expected to be the largest revenue generating region for road safety solutions and services providers owing to the early adoption of technology and large-scale investments in the region. APAC, on the other hand, is projected to grow at the highest CAGR between 2016 and 2021 due to increasing technological adoption and dire need for road safety.

Factors such as centralized infrastructure and low levels of operational efficiency in developing economies are hindering the growth of the road safety market. Additionally, lack of awareness regarding the importance of road safety solutions restrains the adoption of road safety solutions.

The global road safety market research report also contains the profiling and competitive landscape of the major technology vendors. Some of the major technology vendors include Jenoptik AG, Kapsch AG, Sensys Gatso Group, Redflex Holdings, and American Traffic Solutions. The companies are taking different measures such as mergers & acquisitions, partnerships & collaborations, and new product developments to increase their share in the market. These activities have also been tracked and mentioned in the report.

Note: Product cover images may vary from those shown
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  • 3M
  • American Traffic Solutions, Inc. (ATS)
  • Flir Systems, Inc.
  • Information Engineers Group Inc.
  • Jenoptik AG
  • Kapsch Trafficcom AG
  • Motorola Solutions Inc.
  • Redflex Holdings Limited
  • Sensys Gatso Group AB
  • Swarco AG
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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