Road Safety Market by Solution (Red Light, Speed, Bus Lane & Section Enforcement, ALPR/ANPR, Incident Detection & Response), Service (Consulting & Training, Support & Maintenance, and Managed), and Region - Global Forecast to 2023

The road safety market size was USD 2.50 Billion in 2017 and is projected to reach USD 4.41 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period. The base year considered for the study is 2017 and the forecast period considered is 2018–2023.

Objectives of the Study

• To define, determine, and forecast the global road safety market by component, solution, service, and region from 2018 to 2023, and analyze various macro and microeconomic factors that affect the market growth
• To forecast the size of the market segments with respect to the 5 major regions, namely, North America, Europe, Latin America, Asia Pacific (APAC), and Middle East and Africa (MEA)
• To provide detailed information related to the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To analyze each submarket with respect to individual growth trends, prospects, and contributions in the total market
• To analyze the market opportunities for stakeholders by identifying the high-growth segments in the road safety market
• To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the competitive landscape of the market
• To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities in the market

The research methodology used to estimate and forecast the road safety market began with capturing data from the key vendor revenues and the market size of the individual segments through secondary sources, industry associations, and trade journals, such as the Road Safety Association and the Traffic Associations. The bottom-up procedure was employed to arrive at the overall market size of the road safety market from the individual segments. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments.

The breakdown of profiles related to the primary discussion participants is depicted in the figure below:

To know about the assumptions considered for the study, download the pdf brochure

The road safety market ecosystem includes major players, such as Jenoptik (Germany), Kapsch Trafficcom (Austria), Sensys Gatso Group (Sweden), Redflex Holdings (Australia), American Traffic Solutions (US), Idemia (France), Flir Systems (US), Motorola (US), Swarco (Austria), Information Engineers Group (Canada), Cubic Corporation (US), Siemens (Germany), Thales (France), Conduent (US), Vitronic (Germany), Trifoil (Germany), Kria (Italy), Laser Technology (US), Optotraffic (US), Syntell (South Africa), Traffic Management Technologies (South Africa), Aabmatica Technologies (India), Clearview Intelligence (UK), Dahua Technology (China), and Truvelo (UK).

Key Target Audience

• Government agencies
• Road safety Original Equipment Manufacturers (OEMs)
• Road safety service providers
• System integrators
• Consulting firms
• Research organizations
• Resellers and distributors
• Managed service providers
• Regulatory authorities and associations
• Information Technology (IT) service providers
• Consultants/consultancies/advisory firms
• Training providers

Scope of the Report

The study includes component, solution, service, and region segments to arrive at the global road safety market size during the forecast period.

By Component

• Solutions
• Services

By Solution

• Enforcement Solution
• Automatic License Plate Recognition (ALPR)/ Automatic Number Plate Recognition (ANPR)
• Incident Detection and Response
• Others

By Service

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

By Region

• North America
• Europe
• APAC
• MEA
• Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific requirements. The following customization options are available for the report:

Geographic Analysis

• Further breakdown of the solutions and services for countries in APAC market.
• Further breakdown of the solutions and services for countries in of the MEA market
• Further breakdown of the solutions and services for countries in of the Latin American market
• Further breakdown of the solutions and services for countries in of the European market
• Further breakdown of the solutions and services for countries in of the North American market

Company Information

• Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Breakdown of Primaries
           2.1.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Market Opportunities in the Road Safety Market
    4.2 Market By Solution
    4.3 Market By Enforcement Solution
    4.4 Market By Service
    4.5 Market By Professional Service
    4.6 Market By Region
    4.7 Market Investment Scenario

5 Market Overview and Industry Trends (Page No. - 33)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rapid Urbanization
                    5.2.1.2 Increasing Number of Vehicles and Mobility
                    5.2.1.3 Increasing Number of Road Accidents/Fatalities
                    5.2.1.4 Increasing Number of Government Initiatives for Enhancing Road Safety
           5.2.2 Restraints
                    5.2.2.1 Lack of Standardized and Uniform Technologies
           5.2.3 Opportunities
                    5.2.3.1 Public-Private Partnership Ecosystem
                    5.2.3.2 Open Data Movement
           5.2.4 Challenges
                    5.2.4.1 Growing Concerns About the Protection and Privacy of Personal Information
    5.3 National Road Strategies
    5.4 Demand Overview

6 Road Safety, By Component (Page No. - 44)
    6.2 Solutions
           6.2.1 Enforcement Solution
                    6.2.1.1 Red Light Enforcement
                    6.2.1.2 Speed Enforcement
                    6.2.1.3 Bus Lane Enforcement
                    6.2.1.4 Section Enforcement
           6.2.2 Automatic License Plate Recognition/Automatic Number Plate Recognition
           6.2.3 Incident Detection and Response
           6.2.4 Others
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Consulting and Training
                    6.3.1.2 System Integration and Deployment
                    6.3.1.3 Support and Maintenance
           6.3.2 Managed Services

7 Road Safety Market, By Region (Page No. - 59)
    7.1 Introduction
    7.2 North America
           7.2.1 United States
           7.2.2 Canada
    7.3 Europe
           7.3.1 United Kingdom
           7.3.2 Germany
           7.3.3 Rest of Europe
    7.4 Asia Pacific
           7.4.1 China
           7.4.2 Japan
           7.4.3 Singapore
           7.4.4 Australia and New Zealand
           7.4.5 Rest of Asia Pacific
    7.5 Middle East and Africa
           7.5.1 Kingdom of Saudi Arabia
           7.5.2 Qatar
           7.5.3 United Arab Emirates
           7.5.4 South Africa
           7.5.5 Rest of Middle East and Africa
    7.6 Latin America
           7.6.1 Brazil
           7.6.2 Mexico
           7.6.3 Rest of Latin America

8 Competitive Landscape (Page No. - 83)
    8.1 Overview
    8.2 Market Ranking Analysis
    8.3 Competitive Scenario
           8.3.1 Partnerships, Agreements, and Collaborations
           8.3.2 Mergers and Acquisitions
           8.3.3 Business Expansions
           8.3.4 New Product Launches

9 Company Profiles (Page No. - 87)
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
    9.1 Jenoptik
    9.2 Kapsch Trafficcom
    9.3 Sensys Gatso Group
    9.4 Redflex Holdings
    9.5 American Traffic Solutions
    9.6 Idemia
    9.7 Flir Systems
    9.8 MotoRoLA Solutions
    9.9 Swarco
    9.10 Information Engineers Group
    9.11 Cubic Corporation
    9.12 Siemens
    9.13 Thales
    9.14 Conduent
    9.15 Vitronic
    9.16 Traffic Management Technologies
    9.17 Aabmatica
    9.18 Clearview Intelligence
    9.19 Dahua Technology
    9.20 Trifoil
    9.21 Kria
    9.22 Laser Technology
    9.23 Optotraffic
    9.24 Syntell
    9.25 Truvelo

*Details on Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

10 Appendix (Page No. - 126)
     10.1 Previous Developments
             10.1.1 Previous Developments
     10.2 Discussion Guide
     10.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     10.4 Introducing RT: Real-Time Market Intelligence
     10.5 Available Customizations
     10.6 Related Reports
     10.7 Author Details

List of Tables (56 Tables)

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Road Safety Market Size, By Component, 2016–2023 (USD Million)
Table 3 Solutions: Market Size By Type, 2016–2023 (USD Million)
Table 4 Solutions: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Enforcement Solution: Market Size By Type, 2016–2023 (USD Million)
Table 6 Enforcement Solution: Market Size By Region, 2016–2023 (USD Million)
Table 7 Red Light Enforcement Market Size, By Region, 2016–2023 (USD Million)
Table 8 Speed Enforcement Market Size, By Region, 2016–2023 (USD Million)
Table 9 Bus Lane Enforcement Market Size, By Region, 2016–2023 (USD Million)
Table 10 Section Enforcement Market Size, By Region, 2016–2023 (USD Million)
Table 11 Automatic License Plate Recognition/Automatic Number Plate Recognition: Road Safety Market Size, By Region, 2016–2023 (USD Million)
Table 12 Incedtent Detection and Response: Road Safety Market Size, By Region, 2016–2023 (USD Million)
Table 13 Others: Market Size By Region, 2016–2023 (USD Million)
Table 14 Services: Market Size By Type, 2016–2023 (USD Million)
Table 15 Services: Market Size By Region, 2016–2023 (USD Million)
Table 16 Professional Services: Market Size By Type, 2016–2023 (USD Million)
Table 17 Professional Services: Market Size By Region, 2016–2023 (USD Million)
Table 18 Consulting and Training Market Size, By Region, 2016–2023 (USD Million)
Table 19 System Integration and Deployment Market Size, By Region, 2016–2023 (USD Million)
Table 20 Support and Maintenance Market Size, By Region, 2016–2023 (USD Million)
Table 21 Managed Services: Market Size By Region, 2016–2023 (USD Million)
Table 22 North America: Road Safety Market Size, By Country, 2016–2023 (USD Million)
Table 23 North America: Market Size By Component, 2016–2023 (USD Million)
Table 24 North America: Market Size By Solution, 2016–2023 (USD Million)
Table 25 North America: Market Size By Enforcement Solution, 2016–2023 (USD Million)
Table 26 North America: Market Size By Service, 2016–2023 (USD Million)
Table 27 North America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 28 Europe: Market Size By Country, 2016–2023 (USD Million)
Table 29 Europe: Market Size By Component, 2016–2023 (USD Million)
Table 30 Europe: Market Size By Solution, 2016–2023 (USD Million)
Table 31 Europe: Market Size By Enforcement Solution, 2016–2023 (USD Million)
Table 32 Europe: Market Size By Service, 2016–2023 (USD Million)
Table 33 Europe: Market Size By Professional Service, 2016–2023 (USD Million)
Table 34 Asia Pacific: Road Safety Market Size, By Country, 2016–2023 (USD Million)
Table 35 Asia Pacific: Market Size By Component, 2016–2023 (USD Million)
Table 36 Asia Pacific: Market Size By Solution, 2016–2023 (USD Million)
Table 37 Asia Pacific: Market Size By Enforcement Solution, 2016–2023 (USD Million)
Table 38 Asia Pacific: Market Size By Service, 2016–2023 (USD Million)
Table 39 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Million)
Table 40 Middle East and Africa: Market Size By Country, 2016–2023 (USD Million)
Table 41 Middle East and Africa: Market Size By Component, 2016–2023 (USD Million)
Table 42 Middle East and Africa: Market Size By Solution, 2016–2023 (USD Million)
Table 43 Middle East and Africa: Market Size By Enforcement Solution, 2016–2023 (USD Million)
Table 44 Middle East and Africa: Market Size By Service, 2016–2023 (USD Million)
Table 45 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Million)
Table 46 Latin America: Road Safety Market Size, By Country, 2016–2023 (USD Million)
Table 47 Latin America: Market Size By Component, 2016–2023 (USD Million)
Table 48 Latin America: Market Size By Solution, 2016–2023 (USD Million)
Table 49 Latin America: Market Size By Enforcement Solution, 2016–2023 (USD Million)
Table 50 Latin America: Market Size By Enforcement Service, 2016–2023 (USD Million)
Table 51 Latin America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 52 Market Ranking, 2018
Table 53 Partnerships, Agreements, and Collaborations, 2016–2018
Table 54 Mergers and Acquisitions, 2016–2017
Table 55 Business Expansions, 2016
Table 56 New Product Launches, 2016–2017

List of Figures (46 Figures)

Figure 1 Global Road Safety Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 Global Market Research Design
Figure 4 Research Methodology
Figure 5 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 6 Data Triangulation
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Road Safety Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y%)
Figure 10 Market Analysis
Figure 11 Market By Key Country Market Share and Region
Figure 12 Growing Urbanization is Expected to Be Driving the Growth of the Road Safety Market
Figure 13 Enforcement Solution Segment is Estimated to Hold the Largest Market Share During the Forecast Period
Figure 14 Red Light Enforcement Segment is Estimated to Hold the Largest Market Share During the Forecast Period
Figure 15 Professional Services Segment is Estimated to Hold the Larger Market Share During the Forecast Period
Figure 16 Consulting and Training Segment is Expected to Hold the Largest Market Share During the Forecast Period
Figure 17 North America is Expected to Hold the Largest Market Share During the Forecast Period
Figure 18 Asia Pacific is Expected to Be the Hotspot Market to Invest in During the Forecast Period
Figure 19 Road Safety Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Number of Vehicles in Use Worldwide (In ‘000)
Figure 21 Road Traffic Fatality Rates, By Region, 2015
Figure 22 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Enforcement Solution Segment is Expected to Hold the Largest Market Share During the Forecast Period
Figure 24 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 25 Asia Pacific is Expected Grow at the Highest CAGR During the Forecast Period
Figure 26 North America: Market Snapshot
Figure 27 Road Fatalities By Road User Group, 2015
Figure 28 Road Fatalities By Road User Group, 2015
Figure 29 Road Fatalities By Road User Group, 2015
Figure 30 Road Fatalities By Road User Group, 2015
Figure 31 Asia Pacific: Market Snapshot
Figure 32 Road Fatalities By Road User Group, 2015
Figure 33 Road Fatalities By Road User Group, 2015
Figure 34 Road Fatalities By Road User Group, 2015
Figure 35 Key Developments By Leading Players in the Road Safety Market During 2015–2018
Figure 36 Market Evaluation Framework
Figure 37 Jenoptik: Company Snapshot
Figure 38 Kapsch Trafficcom: Company Snapshot
Figure 39 Sensys Gatso Group: Company Snapshot
Figure 40 Redflex Holdings: Company Snapshot
Figure 41 Flir Systems: Company Snapshot
Figure 42 MotoRoLA Solutions: Company Snapshot
Figure 43 Cubic Corporation: Company Snapshot
Figure 44 Siemens: Company Snapshot
Figure 45 Thales: Company Snapshot
Figure 46 Conduent: Company Snapshot

The global road safety market size is expected to grow from USD 2.76 Billion in 2018 to USD 4.41 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period. The market is expected to be driven by rapid urbanization, increasing number of vehicles across the globe, rising need of road safety owing to increasing number of road fatalities, and stringent government regulations to make safer road infrastructure. However, lack of standardized and uniform technology is anticipated to be a major restraint for the market growth.

The scope of this report covers the road safety market analysis by solutions, services, and regions. The road safety solutions include enforcement solution; incident detection and response; ALPR/ANPR; and others (school bus arm stop enforcement, railroad crossing safety, and back office systems). The enforcement solution segment has been further divided into red light enforcement, speed enforcement, bus lane enforcement, and section enforcement. The incident detection and response solution segment is expected to grow at the highest CAGR during the forecast period. The incident detection and response solution enables the detection of obstacles, such as stopped vehicles, traffic slowdown, traffic congestion, wrong way vehicle entry, pedestrian movement on the road, loss of visibility in the roads, and debris on the road. The system also detects a stopped vehicle in congested traffic by distinguishing it from a vehicle that has temporarily stopped. The incident detection and response solution also automatically detects an incident and brings it to the attention of a manual operator in the control room or executes a pre-defined response to deal with the situation. The growth of the segment is driven by increasing number of road fatalities, vehicles, and traffic congestion

The professional services segment is estimated to hold a larger market share in 2018, owing to an increase in the adoption of road safety solutions and the increasing demand for the associated services. The professional services segment is segmented into 3 categories, namely, consulting and training, support and maintenance, and system integration and deployment. Due to the complexities in the existing infrastructures, the demand for consulting services is expected to increase, which, in turn, is likely to boost the overall growth of the road safety services segment.

As per the geographic analysis, North America is expected to hold the largest market size during the forecast period. The market in the region is driven the region’s rapid adoption of road safety solutions and services to counter-traffic congestion and boost safety on roads. Government funding and support for the implementation of road safety in North America is expected to be another major driver for the road safety market. In addition, developments related to deploying road safety solutions in North American countries particularly in the US and Canada are also expected to drive the market in the region.

Major vendors covered in the road safety market include Jenoptik (Germany), Kapsch Trafficcom (Austria), Sensys Gatso Group (Sweden), Redflex Holdings (Australia), American Traffic Solutions (US), Idemia (France), Flir Systems (US), Motorola (US), Swarco (Austria), Information Engineers Group (Canada), Cubic Corporation (US), Siemens (Germany), Thales (France), Conduent (US), Vitronic (Germany), Trifoil (Germany), Kria (Italy), Laser Technology (US), Optotraffic (US), Syntell (South Africa), Traffic Management Technologies (South Africa), Aabmatica Technologies (India), Clearview Intelligence (UK), Dahua Technology (China), and Truvelo (UK).

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