Road Safety Market by Solution (Red Light, Speed, Bus Lane, Section Enforecement, ALPR/ANPR, & Incident Detection & Response), Service (Consulting & Training, System Integration & Deployment, Support & Maintenance), Region - Global Forecast to 2024
[147 pages Report] The road safety market is projected to grow from USD 3.0 billion in 2019 to USD 4.7 billion by 2024, at a CAGR of 9.3% during the forecast period. Major factors driving the road safety market include rising urban population and high demographic rates, rapid motorization, increasing number of road fatalities/accidents, and government initiatives for enhancing road safety.
To know about the assumptions considered for the study, download the pdf brochure
Based on component, the services segment of the road safety market is projected to grow at the highest CAGR during the forecast period.
Based on component, the services segment of the road safety market is projected to grow at the highest CAGR from 2019 to 2024. As there is an increase in the adoption of road safety solutions, the associated services are also expected to be adopted rapidly. Road safety services are majorly deployed to enhance the existing infrastructure and also integrate the latest road safety solutions with the existing one.
Based on solutions sub-segment, the enforcement solution segment is expected to lead the road safety market in 2019.
Based on solutions sub-segment, the enforcement solution segment is projected to lead the road safety market from 2019 to 2024. Compliance through enforcement has conventionally been the responsibility of the local police; however, the sheer scale of road usage increases the need to detect the vast majority of offenses using modern electronic technologies that are more efficient than the previous methods of road traffic enforcement. Road safety enforcement solutions help the police and related authorities to enforce traffic law and perform traffic surveillance to improve road safety and increase public safety.
Based on services, the managed services segment of the road safety market is projected to grow at the highest CAGR during the forecast period.
Based on services, the managed services segment of the road safety market is projected to grow at the highest CAGR from 2019 to 2024. Managed services are considered important, as they are directly related to customer experience. These services help companies remain competitive. Managed services are provided by vendors across the entire life cycle of the road safety market. These services start from procurement of resources to deployment of the latest solutions on the roads.
The North American region is expected to lead the road safety market in 2019.
The North American region is the most advanced region in terms of technology adoption and infrastructure development. The number of cars the US residents own on an average is 800 cars per 1,000 residents, whereas Canada has around 650 cars per 1,000 residents. The North American region has sustainable and well-established economies, which invest increasingly in the road safety enhancement of the region. Moreover, the presence of the majority of key vendors of road safety has also contributed to the growth of the market in the region. In APAC, the market is projected to grow at the highest CAGR of 14.6% during the forecast period, owing to the demand for road safety solutions and services in countries such as China, Japan, Australia, and the rest of APAC. Various countries in APAC, such as Japan, China, and Australia have started recognizing that road safety solutions are able to curb issues such as traffic congestion and road incidents.
Key Market Players
The major factor expected to hinder the growth of the road safety is a lack of standardization and uniformity in road safety solutions.
Key market players profiled in this report include Jenoptik (Germany), Kapsch TrafficCom (Austria), Sensys Gatso Group (Sweden), Redflex Holdings (Australia), Verra Mobility (US), IDEMIA (France), FLIR Systems (US), Motorola Solutions (US), SWARCO (Austria), Information Engineering Group (Canada), Cubic Corporation (US), Siemens (Germany), Conduent, (US), VITRONIC (Germany), Kria (Italy), Laser Technology (US), Optotraffic (US), Syntell (South Africa), Traffic Management Technologies (Pty) Ltd. (South Africa), AABMATICA (India), Clearview Intelligence (UK), Dahua Technology (China), Truvelo (UK), and Trifoil (Sultanate of Oman). These players have adopted various growth strategies such as partnerships, agreements, and collaborations; and new product launches and product enhancements to further expand their presence in the road safety market and broaden their customer base.
Scope of Report
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Report Metrics |
Details |
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Market size available for years |
2017-2024 |
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Base year considered |
2018 |
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Forecast period |
2019-2024 |
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Forecast units |
Value (USD) |
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Segments covered |
Component (Solutions {Enforcement Solution, ALPR/ANPR, Incident Detection, and Response, Others} and Services {Professional Services, Managed Services), and Region |
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Regions covered |
North America, Europe, APAC, Latin America, and MEA |
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Companies covered |
Vendors covered in the road safety market include Jenoptik (Germany), Kapsch TrafficCom (Austria), Sensys Gatso Group (Sweden), Redflex Holdings (Australia), Verra Mobility (US), IDEMIA (France), FLIR Systems (US), Motorola Solutions (US), SWARCO (Austria), Information Engineering Group (Canada), Cubic Corporation (US), Siemens (Germany), Conduent, (US), VITRONIC (Germany), Kria (Italy), Laser Technology (US), Optotraffic (US), Syntell (South Africa), Traffic Management Technologies (South Africa), AABMATICA (India), Clearview Intelligence (UK), Dahua Technology (China), Truvelo (UK), and Trifoil (Sultanate of Oman). |
This research report categorizes the road safety market to forecast revenues and analyze trends in each of the following submarkets:
On the basis of component, the Road Safety market has been segmented as follows:
- Solutions
- Enforcement Solution
- Red Light Enforcement
- Speed Enforcement
- Bus Lane Enforcement
- Section Enforcement
- ALPR/ANPR
- Incident Detection and Response
- Others (railroad crossing safety, school bus stop-arm enforcement, and back-office systems)
- Enforcement Solution
- Services
- Professional Services
- Consulting and Training
- System Integration and Deployment
- Support and Maintenance
- Managed Services
- Professional Services
On the basis of regions, the Road Safety market has been segmented as follows:
- North America
- US
- Canada
- Europe
- UK
- Germany
- Rest of Europe
- APAC
- China
- Japan
- Singapore
- ANZ
- Rest of APAC
- MEA
- KSA
- Qatar
- UAE
- South Africa
- Rest of MEA
- Latin America
- Brazil
- Mexico
- Rest of Latin America
Recent Developments
- In May 2019, Jenoptik signed an agreement with the city of Cologne to provide 10 semistationary speed monitoring devices with the TraffiStar S350 laser scanner This agreement aims to increase traffic safety in all city districts.
- In February 2019, Kapsch TrafficCom signed a contract with the City Council of Avilιs (Spain), to renew the management of the traffic control system over the next 4 years. The contract, exceeding EUR 1 million in value, includes the implementation of EcoTrafiX, a system designed to capture, aggregate, archive, and monitor various sources of traffic data.
- In April 2019, Redflex advanced its Halo platform with the launch of Halo Edge, a fully automated and integrated ANPR camera solution to deliver Clean Air / Low Emissions Zones coverage by vehicle detection, capture and monitoring compliance through processing the data from the Halo Edge intelligent cameras and other types of sensors (e.g., loops, radars, pollution sensors, rain sensors, parking meters, etc.)
- In April 2019, Sensys Gatso through its subsidiary Sensys Gatso USA, has signed a 5-year contract extension for managed services with the city of Albany (New York). The automated red light camera enforcement program, which originally went into effect in 2015, will continue for five more years and has an approximate annual revenue value of USD 470K over the 5 years. With this contract Albany stakeholders focus on safer streets for their community, reduced intersection crashes, and improved driver behavior.
Key questions addressed by the report
- What are the growth opportunities in the road safety market?
- What is the competitive landscape scenario in the road safety market?
- What are the regulations that are expected to have an impact on the road safety market?
- How have road safety solutions and services evolved from traditional technologies?
- What are the dynamics of the road safety market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 16)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Global Road Safety Market: Market Segmentation
1.3.2 Regional 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 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Competitive Leadership Mapping Research Methodology
2.6 Assumptions for the Study
2.7 Limitations of the Study
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 32)
4.1 Attractive Opportunities in the Market
4.2 Asia Pacific Road Safety Market, By Component and Country
4.3 Market Major Countries
5 Market Overview and Industry Trends (Page No. - 35)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Urban Population and High Demographic Rates
5.2.1.2 Rapid Motorization
5.2.1.3 Increasing Number of Road Fatalities/Accidents
5.2.1.4 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 Designing and Developing Connected Vehicles Compatible With Its
5.2.3.2 PublicPrivate Partnership Ecosystem
5.2.3.3 Open Data Movement
5.2.4 Challenges
5.2.4.1 Growing Concerns About the Protection and Privacy of Personal Information
5.3 Industry Trends
5.3.1 National Road Strategies Across Regions
5.3.2 Case Studies
5.3.2.1 Case Study 1: Maryland State Highway Administration (Sha) Johnson Matthey Uses Automated Speed Enforcement Using Laser Scanning Detection to Avoid Crashes in Freeway Work Zones
5.3.2.2 Case Study 2: Dahua Secures Mongolia City With Intelligent Traffic Solution
5.3.2.3 Case Study 3: Jenoptik Lanecheck System Reduces Incidence of Drivers Abusing the Bus Lanes With Automatic Bus Lane Cameras
5.4 Demand Overview
6 Road Safety Market By Component (Page No. - 50)
6.1 Introduction
6.2 Solutions
6.2.1 Enforcement Solution
6.2.1.1 Red Light Enforcement
6.2.1.1.1 Need to Detect Violations at Traffic Light-Controlled Intersections to Drive the Demand for Red Light Enforcement Solutions in All the Regions
6.2.1.2 Speed Enforcement
6.2.1.2.1 Lidar is One of the Widely Used Tools in Speed Enforcement Solutions for Road Safety Enhancement
6.2.1.3 Bus Lane Enforcement
6.2.1.3.1 Bus Lane Enforcement Systems With the Help of Cameras and Anpr Technology Help Detect and Identify Vehicles Travelling on Bus Lanes
6.2.1.4 Section Enforcement
6.2.1.4.1 Section Enforcement Forces Drivers to Keep Vehicles Within Speed Limits, Especially on Dangerous Roads Where Accidents Occur Frequently
6.2.2 Automatic License Plate Recognition/Automatic Number Plate Recognition
6.2.2.1 Anpr Helps Identify Vehicles By Their License Plate and Thereby Helps to Ensure Mobility and Traffic Safety
6.2.3 Incident Detection and Response
6.2.3.1 Incident Detection and Response Solution Automatically Detects an Occurrence and Brings It to the Attention of a Manual Operator in the Control Room
6.2.4 Others
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting and Training
6.3.1.1.1 Consulting and Training Services Play a Crucial Role in the Market as Most Projects are Undertaken By State Governments
6.3.1.2 System Integration and Deployment
6.3.1.2.1 System Integration and Deployment Services Streamline Business Applications By Integrating Various Modules for Day-To-Day Operations
6.3.1.3 Support and Maintenance
6.3.1.3.1 Support and Maintenance Services Assist Organizations in Handling the Deployed Road Safety Solutions
6.3.2 Managed Services
6.3.2.1 Managed Services are Provided By Vendors Across the Entire Life Cycle of the Road Safety Market
7 Road Safety Market By Region (Page No. - 65)
7.1 Introduction
7.2 North America
7.2.1 United States
7.2.1.1 Increasing Number of Vehicles in the Country Causing Heavy Traffic Congestions, Raising the Number of Road Traffic Rule Violations, and Leading to a Rise in Road Accidents
7.2.2 Canada
7.2.2.1 High Congestion in Urban Areas Affecting National Transport Networks in Canada
7.3 Europe
7.3.1 United Kingdom
7.3.1.1 Increased Adoption in the Field of Red Light Enforcement and Anpr Systems in the UK
7.3.2 Germany
7.3.2.1 Implementation of Road Safety Program 20112020 Driving the Growth of the German Road Safety Market
7.3.3 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.1.1 Rising Population Along With On-Road Vehicles Driving the Government to Implement Road Safety Solutions to Safeguard Citizens in China
7.4.2 Japan
7.4.2.1 Recurring Government Initiatives in Japan Enhancing the Road-Safety Measures in the Country
7.4.3 Singapore
7.4.3.1 Singapore Government Aims at Creating Road Safety Campaigns and Awareness Programs
7.4.4 Australia and New Zealand
7.4.4.1 Increased Adoption of Road Safety Solutions for a Safe, Secure, Efficient, Reliable, and Integrated National Transport System in Anz
7.4.5 Rest of Asia Pacific
7.5 Middle East and Africa
7.5.1 Kingdom of Saudi Arabia
7.5.1.1 Adoption of the Best Modern Materials and Equipment to Meet Road Safety and Security Conditions in Ksa
7.5.2 Qatar
7.5.2.1 Adoption of Road Safety Practices By the Regulating Bodies for Implementing Road Safety Initiatives in the Country
7.5.3 United Arab Emirates
7.5.3.1 Traffic Police, and Road and Transport Authorities Across the UAE Play a Major Role in Ensuring Safety and Traffic Regulations
7.5.4 South Africa
7.5.4.1 National Road Safety Strategy 20162030 to Drive the Deployment of Road Safety Solutions in South Africa
7.5.5 Rest of Middle East and Africa
7.6 Latin America
7.6.1 Brazil
7.6.1.1 Increased Initiatives By the Brazilian Government to Avoid Economic Losses and Reduce the Number of Road Fatalities
7.6.2 Mexico
7.6.2.1 Continuous Monitoring of the Road Infrastructure By the Government of Mexico Propelling Road Safety in the Country
7.6.3 Rest of Latin America
8 Competitive Landscape (Page No. - 91)
8.1 Competitive Leadership Mapping
8.1.1 Visionary Leaders
8.1.2 Innovators
8.1.3 Dynamic Differentiators
8.1.4 Emerging Companies
8.2 Strength of Product Portfolio
8.3 Business Strategy Excellence
8.4 Key Vendors in the Road Safety Market, 2019
9 Company Profiles (Page No. - 96)
(Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis, MnM View)*
9.1 Jenoptik
9.2 Kapsch Trafficcom
9.3 Sensys Gatso Group
9.4 Redflex Holdings
9.5 IDEMIA
9.6 Verra Mobility
9.7 SWARCO
9.8 FLIR Systems
9.9 Motorola Solutions
9.10 Siemens
9.11 Cubic Corporation
9.12 Conduent
9.13 Information Engineering Group
9.14 Traffic Management Technologies
9.15 AABMATICA
9.16 Clearview Intelligence
9.17 Dahua Technology
9.18 Trifoil
9.19 Kria
9.20 Laser Technology
9.21 Optotraffic
9.22 Syntell
9.23 Truvelo
9.24 VITRONIC
*Details on Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis, MnM View Might Not be Captured in Case of Unlisted Companies.
10 Appendix (Page No. - 140)
10.1 Industry Excerpts
10.2 Discussion Guide
10.3 Knowledge Store: Marketsandmarkets Subscription Portal
10.4 Available Customizations
10.5 Related Reports
10.6 Author Details
List of Tables (51 Tables)
Table 1 Factor Analysis
Table 2 Road Safety Market Size, By Component, 20172024 (USD Million)
Table 3 Solutions: Market Size By Type, 20172024 (USD Million)
Table 4 Solutions: Market Size By Region, 20172024 (USD Million)
Table 5 Enforcement Solution Market Size, By Type, 20172024 (USD Million)
Table 6 Red Light Enforcement Market Size, By Region, 20172024 (USD Million)
Table 7 Speed Enforcement Market Size, By Region, 20172024 (USD Million)
Table 8 Bus Lane Enforcement Market Size, By Region, 20172024 (USD Million)
Table 9 Section Enforcement Market Size, By Region, 20172024 (USD Million)
Table 10 Automatic License Plate Recognition/Automatic Number Plate Recognition Market Size, By Region, 20172024 (USD Million)
Table 11 Incident Detection and Response Market Size, By Region, 20172024 (USD Million)
Table 12 Others Market Size, By Region, 20172024 (USD Million)
Table 13 Services: Market Size By Type, 2017-2024 (USD Million)
Table 14 Services: Market Size By Region, 2017-2024 (USD Million)
Table 15 Professional Services Market Size, By Type, 20172024 (USD Million)
Table 16 Professional Services Market Size, By Region, 20172024 (USD Million)
Table 17 Consulting and Training Market Size, By Region, 20172024 (USD Million)
Table 18 System Integration and Deployment Market Size, By Region, 20172024 (USD Million)
Table 19 Support and Maintenance Market Size, By Region, 20172024 (USD Million)
Table 20 Managed Services Market Size, By Region, 20172024 (USD Million)
Table 21 Road Safety Market Size, By Region, 20172024 (USD Million)
Table 22 North America: Market Size By Component, 20172024 (USD Million)
Table 23 North America: Market Size By Solution, 20172024 (USD Million)
Table 24 North America: Market Size By Enforcement Solution, 20172024 (USD Million)
Table 25 North America: Market Size By Service, 20172024 (USD Million)
Table 26 North America: Market Size By Professional Service, 20172024 (USD Million)
Table 27 North America: Market Size By Country, 20172024 (USD Million)
Table 28 Europe: Road Safety Market Size, By Component, 20172024 (USD Million)
Table 29 Europe: Market Size By Solution, 20172024 (USD Million)
Table 30 Europe: Market Size By Enforcement Solution, 20172024 (USD Million)
Table 31 Europe: Market Size By Service, 20172024 (USD Million)
Table 32 Europe: Market Size By Professional Service, 20172024 (USD Million)
Table 33 Europe: Market Size By Country, 20172024 (USD Million)
Table 34 Asia Pacific: Road Safety Market Size, By Component, 20172024 (USD Million)
Table 35 Asia Pacific: Market Size By Solution, 20172024 (USD Million)
Table 36 Asia Pacific: Market Size By Enforcement Solution, 20172024 (USD Million)
Table 37 Asia Pacific: Market Size By Service, 20172024 (USD Million)
Table 38 Asia Pacific: Market Size By Professional Service, 20172024 (USD Million)
Table 39 Asia Pacific: Market Size By Country, 20172024 (USD Million)
Table 40 Middle East and Africa: Road Safety Market Size, By Component, 20172024 (USD Million)
Table 41 Middle East and Africa: Market Size By Solution, 20172024 (USD Million)
Table 42 Middle East and Africa: Market Size By Enforcement Solution, 20172024 (USD Million)
Table 43 Middle East and Africa: Market Size By Service, 20172024 (USD Million)
Table 44 Middle East and Africa: Market Size By Professional Service, 20172024 (USD Million)
Table 45 Middle East and Africa: Market Size By Country, 20172024 (USD Million)
Table 46 Latin America: Road Safety Market Size, By Component, 20172024 (USD Million)
Table 47 Latin America: Market Size By Solution, 20162023 (USD Million)
Table 48 Latin America: Market Size By Enforcement Solution, 20172024 (USD Million)
Table 49 Latin America: Market Size By Service, 20172024 (USD Million)
Table 50 Latin America: Market Size By Professional Service, 20172024 (USD Million)
Table 51 Latin America: Market Size By Country, 20172024 (USD Million)
List of Figures (42 Figures)
Figure 1 Global Road Safety Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Competitive Leadership Mapping: Criteria Weightage
Figure 4 Road Safety Market Size, 20192024
Figure 5 Solutions Segment to Lead the Market in 2019
Figure 6 Enforcement Solutions to Account for a Higher Market Share in 2019
Figure 7 Road Safety Market: Regional Snapshot
Figure 8 Rising Urban Population and High Demographic Rates to Drive the Growth of Road Safety Market From 2019 to 2024
Figure 9 Solutions Segment and China to Account for the Highest Market Shares in Asia Pacific in 2019
Figure 10 South Africa and India Projected to Register the Highest CAGR From 2019 to 2024
Figure 11 Drivers, Restraints, Opportunities, and Challenges: Road Safety Market
Figure 12 Number of Vehicles in use Worldwide (In Thousands)
Figure 13 Road Traffic Fatality Rates, By Region, 2016
Figure 14 Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 15 Managed Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 16 North America to Lead Market From 2019 to 2024
Figure 17 Asia Pacific Road Safety Market to Grow at the Highest CAGR During the Forecast Period
Figure 18 North America: Market Snapshot
Figure 19 Road Fatalities By Road User Group, 2016
Figure 20 Road Fatalities By Road User Group, 2016
Figure 21 Road Fatalities By Road User Group, 2016
Figure 22 Road Fatalities By Road User Group, 2016
Figure 23 Asia Pacific: Market Snapshot
Figure 24 Road Fatalities By Road User Group, 2016
Figure 25 Road Fatalities By Road User Group, 2016
Figure 26 Road Fatalities By Road User Group, 2016
Figure 27 Road Fatalities By Road User Group, 2016
Figure 28 Road Safety Market (Global) Competitive Leadership Mapping
Figure 29 Jenoptik: Company Snapshot
Figure 30 Jenoptik: SWOT Analysis
Figure 31 Kapsch Trafficcom: Company Snapshot
Figure 32 Kapsch Trafficcom: SWOT Analysis
Figure 33 Sensys Gatso Group: Company Snapshot
Figure 34 Sensys Gatso Group: SWOT Analysis
Figure 35 Redflex Holdings: Company Snapshot
Figure 36 Redflex Holdings: SWOT Analysis
Figure 37 Verra Mobility: SWOT Analysis
Figure 38 FLIR Systems: Company Snapshot
Figure 39 Motorola Solutions: Company Snapshot
Figure 40 Siemens: Company Snapshot
Figure 41 Cubic Corporation: Company Snapshot
Figure 42 Conduent: Company Snapshot
The study involved four major activities to estimate the current market size for the road safety market. Exhaustive secondary research was done to collect information on the road safety market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments of the road safety market.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, certified publications and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The road safety market comprises several stakeholders, such as 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, and Training providers. The demand-side of the road safety market consists of all the firms operating in several industry verticals. The supply-side includes road safety providers, offering road safety solutions and services. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Road Safety Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the size of the global road safety market and various other dependent submarkets in the overall market. An exhaustive list of all the vendors who offer solutions and services in the market was prepared while using the top-down approach. The market share for all the vendors in the market was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor was evaluated based on its component (solutions and services). The aggregate of all companies revenue was extrapolated to reach the overall market size.
Further, each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from the industry leaders, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and marketing executives.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both, the demand and supply sides.
Report Objectives
- To determine and forecast the global road safety market by component (solutions and services). and region from 2019 to 2024, and analyze the various macroeconomic and microeconomic factors that affect market growth
- To forecast the size of the market segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA)
- To provide detailed information about the major factors influencing the growth of the road safety market (drivers, restraints, opportunities, and challenges)
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the road safety market
- To profile the key market players, provide a comparative analysis on the basis of 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, new product/service launches, business expansions, partnerships and collaborations, and Research and Development (R&D) activities in the market
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