Road Safety Market by Solution (Red Light Enforcement, Speed Enforcement, Incident Detection System, Bus Lane Compliance, and Automatic License Plate Recognition), Service (Consulting & System Integration and Risk Assessment) - Global Forecast to 2021

The road safety market size is estimated to grow from USD 2.60 Billion in 2016 to USD 4.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.3% from 2016 to 2021 on the account of increase in number of road accidents and associated fatalities. 2015 has been considered as the base year for the study, while the forecast period is from 2016 to 2021.

The objective of the report is to define, describe, and forecast the road safety market on the basis of components, solutions, services, and regions and also to provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). The report also strategically analyzes each submarket with respect to individual growth trends, future prospects, and contribution to the total road safety market.

The research methodology used to estimate and forecast the road safety market begins with capturing data on key vendor revenues through secondary sources such as Factiva, OneSource, Bloomberg, and Hoovers. The vendor offerings are also taken into consideration to determine market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global road safety market from the revenue of the key players in the market. 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 CEOs, VPs, directors, and executives. The breakdown of the profiles of primary discussion participants is depicted in the below figure:

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

The road safety ecosystem comprises of red light enforcement solution vendors such as Kapsch TrafficCom AG, SWARCO AG, and Redflex Holdings; speed enforcement solution providers such as Kapsch TrafficCom AG, Jenoptik AG, and Information Engineers Group; automatic license plate recognition solution providers which include Jenoptik AG, Motorola Solutions, and 3M; and other solutions and services providers.

Key Target Audience

• Road safety OEMs
• System integrators
• Communication equipment providers
• Cloud service providers
• Standardization bodies and government councils
• Software providers
• Third-party suppliers

 “The study answers several questions for the stakeholders, primarily which market segments to focus in next two to five years for prioritizing the efforts and investments.”

Scope of the Report

The research report segments the road safety market into the following submarkets:

By Solution

• Red Light Enforcement
• Speed Enforcement
• Incident Detection System
• Bus Lane Compliance
• Automatic License Plate Recognition
• Others

By Service

• Professional Services
  • Consulting and System Integration
  • Training, Support and Maintenance
  • Risk Assessment and Analysis
• Managed Services 

By Region:

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America
• Middle East and Africa (MEA)

Available Customizations

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

Geographic Analysis

• Further breakdown of the North American market
• Further breakdown of the European market
• Further breakdown of the APAC market
• Further breakdown of the MEA market
• Further breakdown of the Latin American market

Company Information

• Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 23)

4 Premium Insights (Page No. - 27)
    4.1 Attractive Market Opportunities in the Road Safety Market
    4.2 Road Safety Market, By Region, 2016 vs 2021
    4.3 Road Safety Market, By Solution, 2016-2021
    4.4 Road Safety Market: By Region and Solution, 2016
    4.5 Lifecycle Analysis, By Region 2016
    4.6 Market Investment Scenario

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 By Solution
           5.3.2 By Service
           5.3.3 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Increase in Mobility and Associated Demand for Transportation Systems
                    5.4.1.2 Increase in Urbanization
                    5.4.1.3 Increase in Road Accidents/Fatality Rate
                    5.4.1.4 Growing Government Regulations for Road Safety
           5.4.2 Restraints
                    5.4.2.1 Insufficient Government Funding in Decentralized Areas; Barrier to Implement Advanced Road Safety Infrastructure
           5.4.3 Opportunities
                    5.4.3.1 Rise in Demand for Advanced Infrastructure Development
                    5.4.3.2 Smart City Initiatives
           5.4.4 Challenges
                    5.4.4.1 Heavy Spending on Road Maintenance Limits the Budget for Advanced Road Technologies Implementation
    5.5 Innovation Spotlight

6 Industry Trends (Page No. - 39)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Strategic Benchmarking
    6.4 Demand Overview

7 Road Safety Market Analysis, By Component (Page No. - 43)
    7.1 Introduction

8 Road Safety Market Analysis, By Solution (Page No. - 45)
    8.1 Introduction
    8.2 Red Light Enforcement
    8.3 Speed Enforcement
    8.4 Incident Detection System
    8.5 Bus Lane Compliance
    8.6 Automatic License Plate Recognition
    8.7 Others

9 Road Safety Market Analysis, By Service (Page No. - 52)
    9.1 Introduction
    9.2 Professional Services
           9.2.1 Consulting and System Integration
           9.2.2 Training, Support, and Maintenance
           9.2.3 Risk Assessment and Analysis
    9.3 Managed Services

10 Geographic Analysis (Page No. - 59)
     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia Pacific
     10.5 Middle East and Africa
     10.6 Latin America

11 Competitive Landscape (Page No. - 76)
     11.1 Overview
     11.2 Portfolio Comparison
     11.3 Competitive Situation and Trends
     11.4 Agreements, Partnerships, and Collaborations
     11.5 Mergers and Acquisitions
     11.6 Business Expansions
     11.7 New Launches

12 Company Profiles (Page No. - 83)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     12.1 Introduction
     12.2 Jenoptik AG
     12.3 Kapsch Trafficcom AG
     12.4 Sensys Gatso Group Ab
     12.5 Redflex Holdings Limited
     12.6 American Traffic Solutions, Inc. (ATS)
     12.7 3M
     12.8 Flir Systems, Inc.
     12.9 Motorola Solutions Inc.
     12.10 Swarco AG
     12.11 Information Engineers Group Inc.

*Details Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 108)
     13.1 Insight of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports

List of Tables (45 Tables)

Table 1 Road Safety Components Market Size and Growth, 2014–2021 (USD Billion)
Table 2 Road Safety Market Size, By Component, 2014–2021 (USD Million)
Table 3 Road Safety Market Size, By Solution, 2014–2021 (USD Million)
Table 4 Red Light Enforcement: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 5 Speed Enforcement: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 6 Incident Detection System: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 7 Bus Lane Compliance: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 8 Automatic License Plate Recognition: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 9 Others: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 10 Road Safety Market Size, By Service, 2014–2021 (USD Million)
Table 11 Road Safety Market Size, By Service, 2014–2021 (USD Million)
Table 12 Consulting and System Integration: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 13 Training, Support, and Maintenance: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 14 Risk Assessment and Analysis: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 15 Managed Services: Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 16 Road Safety Market Size, By Region, 2014–2021 (USD Million)
Table 17 North America: Road Safety Market Size, By Component, 2014–2021 (USD Million)
Table 18 North America: Road Safety Market Size, By Country, 2014–2021 (USD Million)
Table 19 North America: Road Safety Market Size, By Solution, 2014–2021 (USD Million)
Table 20 North America: Road Safety Market Size, By Service, 2014–2021 (USD Million)
Table 21 North America: Road Safety Market Size, By Professional Service, 2014–2021 (USD Million)
Table 22 Europe: Road Safety Market Size, By Component, 2014–2021 (USD Million)
Table 23 Europe: Road Safety Market Size, By Country, 2014–2021 (USD Million)
Table 24 Europe: Road Safety Market Size, By Solution, 2014–2021 (USD Million)
Table 25 Europe: Road Safety Market Size, By Service, 2014–2021 (USD Million)
Table 26 Europe: Road Safety Market Size, By Professional Service, 2014–2021 (USD Million)
Table 27 Asia Pacific: Road Safety Market Size, By Component, 2014–2021 (USD Million)
Table 28 Asia Pacific: Road Safety Market Size, By Country, 2014–2021 (USD Million)
Table 29 Asia Pacific: Road Safety Market Size, By Solution, 2014–2021 (USD Million)
Table 30 Asia Pacific: Road Safety Market Size, By Service, 2014–2021 (USD Million)
Table 31 Asia Pacific: Road Safety Market Size, By Professional Service, 2014–2021 (USD Million)
Table 32 Middle East and Africa: Road Safety Market Size, By Component, 2014–2021 (USD Million)
Table 33 Middle East and Africa: Road Safety Market Size, By Country, 2014–2021 (USD Million)
Table 34 Middle East and Africa: Road Safety Market Size, By Solution, 2014–2021 (USD Million)
Table 35 Middle East and Africa: Road Safety Market Size, By Service, 2014–2021 (USD Million)
Table 36 Middle East and Africa: Road Safety Market Size, By Professional Service, 2014–2021 (USD Million)
Table 37 Latin America: Road Safety Market Size, By Component, 2014–2021 (USD Million)
Table 38 Latin America: Road Safety Market Size, By Country, 2014–2021 (USD Million)
Table 39 Latin America: Road Safety Market Size, By Solution, 2014–2021 (USD Million)
Table 40 Latin America: Road Safety Market Size, By Service, 2014–2021 (USD Million)
Table 41 Latin America: Road Safety Market Size, By Professional Service, 2014–2021 (USD Million)
Table 42 Agreements, Partnerships, and Collaborations, 2014–2016
Table 43 Mergers and Acquisitions, 2014–2016
Table 44 Business Expansions, 2014–2016
Table 45 New Launches, 2014–2016

List of Figures (47 Figures)

Figure 1 Global Road Safety Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Road Safety Market is Expected to Decline During the Forecast Period
Figure 7 Road Safety Market: Top Three Segments in 2016
Figure 8 North America is Expected to Hold the Largest Market Share in 2016
Figure 9 Regulatory Compliance is Driving the Road Safety Market Toward Growth
Figure 10 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Automatic License Plate Recognition Solution to Grow at the Highest CAGR Among All Solutions
Figure 12 Red Light Enforcement Solution is Expected to Hold the Largest Market Share in 2016
Figure 13 Evolution of the Road Safety Market
Figure 14 Road Safety Market Segmentation: By Solution
Figure 15 Road Safety Market Segmentation: By Service
Figure 16 Road Safety Market Segmentation: By Region
Figure 17 Road Safety Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Road Safety Market: Value Chain
Figure 19 Strategic Benchmarking: Partnerships, Agreements, and Acquisitions of Top Vendors
Figure 20 Road Traffic Fatality Rates, By Region
Figure 21 Road Traffic Deaths By Type of Road User, Worldwide
Figure 22 Services Segment is Expected to Grow at Higher Rate During the Forecast Period
Figure 23 Automatic License Plate Recognition Solution is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Managed Services Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 25 Consulting and System Integration Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Regional Snapshot: Asia Pacific is the Emerging Region in the Road Safety Market
Figure 27 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Regional Snapshot: Asia Pacific as A Hotspot During 2016–2021
Figure 29 North America Market Snapshot
Figure 30 Asia Pacific Market Snapshot
Figure 31 Companies Adopted Partnership, Agreement, and Collaboration as the Key Growth Strategy Between 2014 and 2016
Figure 32 Road Safety Market: Portfolio Comparison
Figure 33 Market Evaluation Framework
Figure 34 Battle for Market Share: Agreement, Partnership, and Collaboration Was the Key Strategy Adopted By Market Players Between 2014 and 2016
Figure 35 Geographic Revenue Mix of the Top 4 Market Players
Figure 36 Jenoptik AG: Company Snapshot
Figure 37 Jenoptik AG: SWOT Analysis
Figure 38 Kapsch Trafficom AG: Company Snapshot
Figure 39 Kapsch Trafficcom AG: SWOT Analysis
Figure 40 Sensys Gatso Group AB: Company Snapshot
Figure 41 Sensys Gatso Group AB: SWOT Analysis
Figure 42 Redflex Holdings Limited: Company Snapshot
Figure 43 Redflex Holdings Limited: SWOT Analysis
Figure 44 American Traffic Solutions, Inc: SWOT Analysis
Figure 45 3M: Company Snapshot
Figure 46 Flir Systems, Inc.: Company Snapshot
Figure 47 Motorola Solutions Inc.: Company Snapshot

The road safety market size is expected to grow from USD 2.60 Billion in 2016 to USD 4.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period. The major growth drivers of the market include the increasing number of road accidents and resulting fatalities, government regulations, and increasing infrastructural development initiatives such as intelligent transportation, smart cities, and smart highways.

The road safety market report has been segmented on the basis of solutions, services, and regions. On the basis of solutions, it includes red light enforcement, speed enforcement, incident detection system, bus lane compliance, automatic license plate recognition, and others. The red light enforcement solution is expected to hold the largest share of the road safety solution market. The key trends contributing to this market growth are the increased usage of connected devices and strict regulatory compliances.

Among the services, the professional services segment is expected to hold the largest share of the road safety services market. The primary driving force for the adoption of professional services is the complexity of smart solutions infrastructure which leads to increased need for consulting services. The managed services segment is projected to witness the highest growth rate due to the growing need of organizations to attain economies of scale and comply with different regulatory compliances across the globe.

The global road safety market research report segments the market on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. The North American region is expected to be the largest revenue generating region for road safety solutions and services providers owing to the early adoption of technology and large-scale investments in the region. APAC, on the other hand, is projected to grow at the highest CAGR between 2016 and 2021 due to increasing technological adoption and dire need for road safety.

Factors such as centralized infrastructure and low levels of operational efficiency in developing economies are hindering the growth of the road safety market. Additionally, lack of awareness regarding the importance of road safety solutions restrains the adoption of road safety solutions.

The global road safety market research report also contains the profiling and competitive landscape of the major technology vendors. Some of the major technology vendors include Jenoptik AG, Kapsch AG, Sensys Gatso Group, Redflex Holdings, and American Traffic Solutions. The companies are taking different measures such as mergers & acquisitions, partnerships & collaborations, and new product developments to increase their share in the market. These activities have also been tracked and mentioned in the report.

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