Road Safety Market

Jenoptik (Germany) and Redflex Holdings (Australia) are leading players in Road Safety Market

The road safety market size is expected to grow from USD 3.0 billion in 2019 to USD 4.7 billion by 2024, at a Compound Annual Growth Rate (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.

Major road safety vendors 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 Inc. (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). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations and new product launches to expand their presence in the road safety market. Partnerships, collaborations, and agreements have been the most adopted strategies by major players from 2016 to 2019 which helped them innovate their offerings and broaden their customer base.

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Jenoptik is one of the leading vendors of the road safety market. Currently, Jenoptik is working towards enhancing its market share and presence with the help inorganic growth strategies, such as partnerships and collaborations, and mergers & acquisitions. For instance, 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 March 2018, Jenoptik and 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 increase road safety in Qatar.

Redflex Holdings is another leading road safety solutions and services providers across the globe. The company is one of the leading providers of red light enforcement, speed enforcement, and school bus safety solutions, which are massively contributing to the road and public safety market. The company is focusing on both the organic and inorganic growth strategy to enhance the road safety market. For instance, in April 2019 Redflex advanced its Halo platform with the launch of Halo Edge 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. Redflex is even actively working for the betterment of the system. In January 2016 Redflex acquired SBL Investments, LLC and Americore Enterprises, LLC, the leading providers of automated school bus arm-stop photo enforcement in the US. This acquisition is expected to position Redflex as a leading provider of school bus safety enforcement technology. Moreover, the company is aggressively working toward bagging new clients and accomplishing its organic growth strategy.

Related Reports:

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

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Report Code
TC 2475
RI Published ON
7/1/2019
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