HOME Research Insight Jenoptik (Germany) and Kapsch Trafficcom (Austria) are the Key Players in the Road Safety Market

Jenoptik (Germany) and Kapsch Trafficcom (Austria) are the Key Players in the Road Safety Market

The road safety market size is estimated to be USD 2.76 Billion in 2018 and is expected to reach USD 4.41 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period. The major factors driving the road safety market include rapid urbanization, rising number of vehicles and increasing mobility, increase in road accidents/fatality rate, and increasing number of initiatives for enhancing road safety.

The key market players profiled in this report 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). These players offer various road safety solutions and its associated services to cater to the demands and needs of the marketspace. Moreover, they have adopted various growth strategies, such as mergers and acquisitions; partnerships and agreements; business expansions; and new product launches. The major growth strategy followed for business expansions is partnerships and agreements.

Jenoptik is one of the leading global providers of road safety products. Its traffic solutions division in the mobility segment develops, manufactures, and distributes components, systems, and services for road safety. Jenoptik has adopted a strategic mix of organic and inorganic growth strategies, such as new product launches and partnerships and agreements, in the road safety market. In 2018, Jenoptik, along with Telco, partnered with the Qatar Ministry of Interior, to deliver 120 speed measurement systems. The partnership also included 6 radar-based mobile speed measurement systems to enhance speed enforcement and enhance the road safety in Qatar. In line with the organic growth strategy, Jenoptik accquired all the shares of the British company, Essa Technology (Domestic and Commercial Security Limited). The acquisition empowered Jenoptik to efficiently process and evaluate the ANPR data. In the last 3 years, Jenoptik has secured several contracts for road safety individually or with the help of its local partners, including agreements with the Kuwait Ministry of Interior, Qatar Ministry of Interior, State of Kuwait, City of Jordan, and the Western Australia Police for the deployment of speed and red light monitoring systems.

Kapsch TrafficCom is a strong player in in the road safety market with diverse ecosystem of hardware, software, and solutions. The company excels in toll collection, traffic data collection, monitoring and management, and road and vehicle safety systems. Kapsch has adopted a mix of organic and inorganic growth strategies. For instance, in 2017, Kapsch along with Zambian Lamise Trading Limited, signed an agreement with the Zambian Government for designing, installing, and operating systems and solutions for traffic surveillance, vehicle speed enforcement, vehicle inspection, and vehicle registration. In 2016, Kapsch acquired Schneider Electric’s transportation business, which proved to be helpful in expanding Kapsch’s product portfolio and strengthening its market position in the Intelligent Transportation System. Furthermore in 2015, it acquired companies, such as evolaris and Transdyn, Inc., to grow inorganically and strengthen its market position. The company aims to consolidate its earnings in established business areas and develop new activities to complement its services.

Related Reports:

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

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