Global Road Safety Market Size, Share & Trends Analysis Report, By Solution (Enforcement Solution, License Plate Detection, Incident Detection & Response, and Others), and Forecast 2019-2025.
The global road safety market is expected to grow at 8.9% CAGR during the forecast period. Rise in road accidents fatalities is one of the key factors driving the growth of the market. As per the World Health Organization 2018 report, more than 1.3 million mortalities were observed globally due to road accidents in 2016. The rapid increase in the vehicle fleet and rising urban population are other major factors for the growth of the market.
The global road safety market is segmented on the basis of solution into enforcement solution, license plate detection, incident detection and response, and others such as traffic flow monitoring and railroad crossing safety. All these solutions are being widely adopted and operated either by the government or through a third-party managed service. Enforcement solution which includes red-light safety and speed detection is expected to have a considerable growth rate during the forecast period. Further, the segment contributed significantly to the market as it is widely adopted by the enforcement authorities to improve road safety and increase public safety.
On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is expected to dominate the road safety market during the forecast period. Government expenditure on road safety and strict rules and regulation are key factors for the growth of the market in the region. Asia-Pacific is expected to witness a significant growth rate during the forecast period. Emerging economies including China, India, Indonesia, Thailand will contribute significantly to the growth of the market.
Some of the major players that are contributing to the market growth include Kapsch AG, Jenoptik AG, Idemia France SAS, Sensys Gatso Group AB, Verra Mobility, Siemens AG, Motorola Solutions, Inc., FLIR Systems Inc., Johnson Controls International plc and others. The market players are adopting various market approaches which include product launch and approvals, merger and acquisition, partnerships and collaborations, startup funding and others for gaining a strong position in the market. For instance, in September 2018, Netradyne secured a funding of $21 million for expanding its product capabilities, Driveri. The funding was provided by RIIHL, a subsidiary of Reliance Industries Ltd., and M12, Microsoft’s corporate venture arm, and Point72 Ventures.
Research Methodology
The market study of the road safety market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary sources include:
The report is intended for road safety solution providers, software vendors, existing companies and new entrants into the market, government organizations, potential investors and venture capitalists, and various end-user industries for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the company and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.
Market Segmentation:
1. Global Road Safety Market Research and Analysis by Solution
The Report covers:
The global road safety market is expected to grow at 8.9% CAGR during the forecast period. Rise in road accidents fatalities is one of the key factors driving the growth of the market. As per the World Health Organization 2018 report, more than 1.3 million mortalities were observed globally due to road accidents in 2016. The rapid increase in the vehicle fleet and rising urban population are other major factors for the growth of the market.
The global road safety market is segmented on the basis of solution into enforcement solution, license plate detection, incident detection and response, and others such as traffic flow monitoring and railroad crossing safety. All these solutions are being widely adopted and operated either by the government or through a third-party managed service. Enforcement solution which includes red-light safety and speed detection is expected to have a considerable growth rate during the forecast period. Further, the segment contributed significantly to the market as it is widely adopted by the enforcement authorities to improve road safety and increase public safety.
On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is expected to dominate the road safety market during the forecast period. Government expenditure on road safety and strict rules and regulation are key factors for the growth of the market in the region. Asia-Pacific is expected to witness a significant growth rate during the forecast period. Emerging economies including China, India, Indonesia, Thailand will contribute significantly to the growth of the market.
Some of the major players that are contributing to the market growth include Kapsch AG, Jenoptik AG, Idemia France SAS, Sensys Gatso Group AB, Verra Mobility, Siemens AG, Motorola Solutions, Inc., FLIR Systems Inc., Johnson Controls International plc and others. The market players are adopting various market approaches which include product launch and approvals, merger and acquisition, partnerships and collaborations, startup funding and others for gaining a strong position in the market. For instance, in September 2018, Netradyne secured a funding of $21 million for expanding its product capabilities, Driveri. The funding was provided by RIIHL, a subsidiary of Reliance Industries Ltd., and M12, Microsoft’s corporate venture arm, and Point72 Ventures.
Research Methodology
The market study of the road safety market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary sources include:
- Financial reports of companies involved in the market.
- Whitepapers, research-papers, and news blogs.
- Company websites and their product catalog.
The report is intended for road safety solution providers, software vendors, existing companies and new entrants into the market, government organizations, potential investors and venture capitalists, and various end-user industries for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the company and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.
Market Segmentation:
1. Global Road Safety Market Research and Analysis by Solution
The Report covers:
- Comprehensive research methodology of the global road safety market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global road safety market.
- Insights about market determinants which are stimulating the global road safety market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- 3M Co.
- AABMATICA Technologies Pvt. Ltd.
- Alcatel-Lucent S.A.
- Brisk Synergies
- Clearview Traffic Group Ltd.
- Conduent Inc.
- Cubic Corp.
- FLIR Systems Inc.
- Idemia France SAS
- Information Engineering Group Inc.
- Jenoptik AG
- Johnson Controls International plc
- Kapsch AG
- Laser Technology Inc.
- Motorola Solutions, Inc.
- Optotraffic, LLC
- Rad Data Communication
- Sensys Gatso Group AB
- Siemens AG
- Swarco AG
- Syntell (Pty) Ltd.
- Thales Group
- Trifoil LLC
- Truvelo Ltd.
- Verra Mobility
- VITRONIC GmbH
- Zhejiang Dahua Technology Co., Ltd."
