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Road Safety Market - Types and Systems
The urban roads safety market will account for the largest market share compared to highways and bridges and urban roads safety market during the forecast period. The global solution providers for advanced systems and technologies includes Alcatel Lucent, Siemens AB, Huawei, Kapsch AG, Flir Systems Thales, Tyco, Belden, Rad Data communication and Saab. The systems, devices and technologies and services provided by them have enabled the robust safety and security for all roadways infrastructure, people and vehicles, and it also enhances the operational efficiencies at various roadways facilities.
With the increased development in highways and bridges, urban roads and tunnels infrastructure, increase in the number of vehicles globally especially in Middle income countries and due to continuous concern for public safety has enforced the government to take imperative actions for road safety and security. Special regulations and government bodies have been formed to alleviate the scenario. Also, stricter regulations and compliances have been formed worldwide.
Asia Pacific market is experiencing the higher growth, specially the emerging economies like Brazil, Russia, India and China. The main reason for the growth of this market is increased investments in roadways infrastructural development and number of vehicles on the roads of that region in recent years due to the growth in people’s per capita income. Also, the commercials are looking forward to improve their supply chain & logistics with growing infrastructure development of highways and bridges, urban roads and tunnels implemented with efficient safety solutions/ system in it. The development of enhanced access systems such as access control system/ vehicle detection system and incident detection system and many more has led to the growth of security vendors in the ecosystem. The market is also gaining momentum with new development projects for highways, bridges, tunnels and urban roads across the globe.
The key industry players are solidifying their presence in the road safety market through Mergers and Acquisitions (M&A), new start-ups, and new product developments. A few Mergers and Acquisitions (M&A) are: Kapsch AG acquire Transdyn Inc; Tyco acquire Exacq technologies, SAAb Group acquire Tikab, FLIR Systems acquire Digimerge and Traficon International.
Related Reports:Road Safety Market by Types (Highways and Bridges Safety, Urban Roads Safety and Tunnels Safety) & Systems (Red Light Enforcement, Speed Limit Enforcement, Bus Lane Enforcement, Communication, Incident Detection) - Worldwide Market Forecast (2014-2019)
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