Global Road Safety Market Is Anticipated To Reach Around USD 5.16 Billion By 2025

27-Jun-2019 | Zion Market Research

Zion Market Research has published a new report titled “Road Safety Market By Solution (Red Light Enforcement, Speed Enforcement, Bus Lane Enforcement & Section Enforcement, Automatic License Plate Recognition/Automatic Number Plate Recognition, Incident Detection & Response, and Others) and By Service (Consulting & Training, Support & Maintenance, System Integration & Deployment, and Managed Services): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global road safety market was around USD 2.66 billion in 2018 and is expected to reach approximately USD 5.16 billion by 2025, at a CAGR of slightly above 10.14% between 2019 and 2025.

Global Road Safety Market

Solutions and services that avert and decline the risk of accidents, avoid unpredictable vehicle movements, maintain traffic discipline, and ensure safe travel for commuters fall under the umbrella of road safety measures or solutions. The rapid population increase, growth in the mobility of vehicles, and an increase in the demand for transportation system are major factors driving the global road safety market. Moreover, the rising number of stringent government regulations and the continuously increasing road accidents have forced governments to make changes in their existing safety norms, which have propelled the road safety market growth globally. Increasing development of smart infrastructure, construction of safer roads for cyclists and pedestrians, and the implementation of safer driving measures will eventually lower fatal injuries and contribute to the global road safety market. Furthermore, smart city projects will also initiate the adoption of smart transportation techniques like automated traffic assistance, parking, traffic management, and predictive traffic analytics, which, in turn, will improve road safety. However, the lack of awareness and budget constraints related to road safety may restrain the road safety market growth in the years ahead.

Browse the full “Road Safety Market By Solution (Red Light Enforcement, Speed Enforcement, Bus Lane Enforcement & Section Enforcement, Automatic License Plate Recognition/Automatic Number Plate Recognition, Incident Detection & Response, and Others) and By Service (Consulting & Training, Support & Maintenance, System Integration & Deployment, and Managed Services): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/road-safety-market

The solution segment of the global road safety market includes speed enforcement, red light enforcement, bus lane enforcement and section enforcement, automatic license plate recognition/automatic number plate recognition, incident detection and response, and others. By service, the market includes support and maintenance, consulting and training, system integration and deployment, and managed services. System integration and deployment and consulting and training segments are likely to contribute major market shares in the years ahead, due to the rising demand for these services.

The Asia Pacific region is likely to grow substantially in the global road safety market, owing to the numerous safety measures taken by the government and positive economic growth in the region. India, China, and Australia have introduced different strategies to introduce changes in the planning and implementation of security measures to overcome road incidents. Moreover, technological developments and increasing population in these regions are driving the demand for long distance commute and public transport. The automation in the road safety market is another driving factor for the region’s road safety market, as it eliminates chances of error. Furthermore, the implementation of automatic license plate recognition/automatic number plate recognition will further fuel the market for road safety in the Asia Pacific.

Some major players of the global road safety market include Sensys Jenoptik, Gatso Group, Kapsch Trafficcom, Redflex Holdings, Idemia, FLIR Systems, American Traffic Solutions, Motorola, Swarco, and Siemens.

This report segments the global road safety market into:

Global Road Safety Market: Solution Analysis

  • Red Light Enforcement
  • Speed Enforcement
  • Bus Lane Enforcement and Section Enforcement
  • Automatic License Plate Recognition/Automatic Number Plate Recognition (ALPR/ANPR)
  • Incident Detection and Response
  • Others

Global Road Safety Market: Service Analysis

  • Consulting and Training
  • Support and Maintenance
  • System Integration and Deployment
  • Managed Services

Global Road Safety Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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