Global Road Safety Market -By Solutions (Red light enforcement, Speed enforcement, Incident detection & communication system, Bus lane compliance, Automatic license plate recognition, & Others); By Services (Professional services, Managed services); By Technology(Radar & Sensor-based devices, Analytics, and Surveillance); By Regions (Americas, EMEA, and, APAC) Drivers, Opportunities, Restraints, Trends, and Forecast to 2024

Road Safety Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024

Overview:

Road safety can be defined as a measure taken to prevent incidents on the road that could elevate the danger for road users as well as critical infrastructure along the way. Thus, technologies that enhance road safety are crucial for government bodies, taking into consideration the cost-of-loss resulting from the loss of life and/or infrastructural damages. Additionally, the time lost to traffic congestions due to such incidents further aggravates the concerns for civil authorities and road users alike.

Strict rules & regulations have been implemented across various cities to ensure smooth flow of traffic. Consequently, various technology vendors have been able to leverage their capabilities to enhance road safety by implementing technologies such as real-time traffic monitoring with sensors to detect speed violations, in-vehicle driver assistance, and incident detection systems in case of emergency/road accidents.
The availability of innovative technologies, including driver assistance, V2V communication, incident detection and response, and automatic number plate recognition systems, has bolstered the overall road safety ingenuities across smart city initiatives shaping up globally; thus, resulting in a huge window of opportunity for the key players in the market.

Market Analysis:
According to it, the global road safety market revenue is expected to reach $7.01 billion by 2024, growing at a CAGR of around 17.16% during the forecast period. The market is experiencing growth due to the increasing mobility and rise in the number of vehicles on the road. In addition, the construction of safer roads, development of infrastructure for the safety of pedestrians & cyclists, and the adoption of safer riding measures will further reduce injuries and contribute to the safety among the population.

Market Segmentation Analysis:
The report provides insights about major technology trends, supporting solutions & services, and application areas that govern road safety globally. The evaluation is backed with quantitative and qualitative analysis, historical data, and other supportable projections about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on vendor assessments from annual reports, whitepapers, press releases, and investor presentations along with end-user analysis for case studies. Thus, the research report serves every side of the market and is segmented based on regional markets, types, applications, and end-users.

Regional Analysis
The Americas is expected to dominate the market, with US and Canada being the forefront adopters of technologies with better test facilities and rapid implementations backed with sufficient funding to implement infrastructural projects quickly compared to other regions. The EMEA region is next to the Americas with the presence of a large number of equipment manufacturers and solution providers.

The countries covered in the report are Canada, Mexico, UK, France, US, Germany, India, China, and Japan. Among these, Japan, US, and China are expected to grow at a high rate during the forecast period owing to an increase in the penetration rate of connected devices and growing adoption of cloud computing.

Competitive Analysis:
The report contains an in-depth analysis of the vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The key players operating in the road safety market include Motorola Solutions, American Traffic Solutions, Rad Data Communication, Jenoptik, Kapsch AG, Swarco AG, Redflex, Thales, Tyco, Alcatel-Lucent, and Siemens AG. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
The report covers and analyzes the global road safety market. Various strategies such as joint ventures, partnerships, collaborations, and contracts have been considered. In addition, partnerships are expected to increase as customers are in search of better solutions. It is likely that the number of mergers, acquisitions, and strategic partnerships will increase as well during the forecast period.

The report includes complete insights of the industry and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

Benefits
The report provides an in-depth analysis of the global road safety market with an aim to reduce time to market for products and services, reduce operational cost, improve accuracy, and operational performance. The report covers types, applications, and regions. Further, the report provides details about the major challenges impacting the market growth.

1 Industry Outlook 10
1.1 Industry Overview 10
1.2 Industry Trends 11
2 Report Outline 13
2.1 Report Scope 13
2.2 Report Summary 13
2.3 Research Methodology 14
2.4 Report Assumptions 15
3 Market Snapshot 16
3.1 Total Addressable Market (TAM) 16
3.2 Segmented Addressable Market (SAM) 17
3.3 Related Markets 18
3.4 New technology improves road safety 18
4 Market Outlook 20
4.1 Overview 20
4.2 Regulatory Bodies & Standards 22
4.3 Government Spending and Initiatives 23
5 ROAD SAFETY MARKET WITHIN THE VEHICLE 25
5.1 Overview 25
6 ROAD SAFETY MARKET OEMs PROVIDER 27
6.1 Overview 27
7 ROAD SAFETY MARKET: GOVERNMENT ROLE 28
7.1 Overview 28
7.2 Porter 5 (Five) Forces 28
8 Market Characteristics 30
8.1 Ecosystem 30
8.2 Market Segmentation 31
8.3 Market Dynamics 31
8.3.1 Drivers 32
8.3.1.1 Increasing mobility and associated demand for transportation systems 32
8.3.1.2 Increase in urbanization 32
8.3.1.3 Increase in road accidents/fatality rate 32
8.3.2 Restraints 33
8.3.2.1 Insufficient government funding in decentralized areas 33
8.3.2.2 Barrier to implement advanced road safety infrastructure 33
8.3.2.3 over growing population of road users 33
8.3.3 Opportunities 33
8.3.3.1 Smart city initiatives 33
8.3.3.2 Introduction of SOSmart car accident service 34
8.3.3.3 Growth in usage based car insurance 34
8.3.4 DRO Impact Analysis 35
9 Trends, Roadmap and Projects 36
9.1 Market Trends & Impact 36
10 Solutions: Market Size & Analysis 38
10.1 Overview 38
10.1.1 Market Size and Analysis 38
10.2 RED LIGHT ENFORCEMENT 40
10.3 SPEED ENFORCEMENT 41
10.4 Incident Detection & communication System 41
10.5 BUS LANE COMPLIANCE 42
10.6 Automatic License Plate Recognition 43
10.7 Others (Stop Sign Enforcement, Parking, Congestion Charges etc) 44
11 Services: Market Size & Analysis 46
11.1 Overview 46
11.1.1 Market Size and Analysis 46
11.2 PROFESSIONAL SERVICES 47
11.3 MANAGED SERVICES 48
12 Technology: Market Size & Analysis 50
12.1 Overview 50
12.1.1 Market Size and Analysis 50
12.2 RADAR AND SENSOR-BASED DEVICES 51
12.3 ANALYTICS 52
12.4 SURVEILLANCE 53
13 Regions: Market Size & Analysis 55
13.1 Overview 55
13.1.1 Market Size and Analysis 55
13.2 Americas 56
13.3 EMEA 57
13.4 APAC 58
13.5 Vendor Profiles 60
13.5.1 Flir Systems 60
13.5.1.1 Overview 60
13.5.1.2 Business unit 60
13.5.1.3 Geographic revenue 60
13.5.1.4 Business focus 60
13.5.1.5 SWOT analysis 61
13.5.1.6 Business strategies 62
13.5.2 Siemens AG 62
13.5.2.1 Overview 62
13.5.2.2 Business unit 62
13.5.2.3 Geographic revenue 62
13.5.2.4 Business focus 62
13.5.2.5 SWOT analysis 63
13.5.2.6 Business strategies 64
13.5.3 Kapsch AG 64
13.5.3.1 Overview 64
13.5.3.2 Business unit 64
13.5.3.3 Geographic revenue 64
13.5.3.4 Business focus 64
13.5.3.5 SWOT analysis 65
13.5.3.6 Business strategies 65
13.5.4 Thales 65
13.5.4.1 Overview 65
13.5.4.2 Business unit 65
13.5.4.3 Geographic revenue 66
13.5.4.4 Business focus 66
13.5.4.5 SWOT analysis 66
13.5.4.6 Business strategies 67
13.5.5 Motorola Solutions 67
13.5.5.1 Overview 67
13.5.5.2 Business unit 67
13.5.5.3 Geographic revenue 67
13.5.5.4 Business focus 67
13.5.5.5 SWOT analysis 68
13.5.5.6 Business strategies 69
13.5.6 3M 69
13.5.6.1 Overview 69
13.5.6.2 Business unit 69
13.5.6.3 Geographic revenue 69
13.5.6.4 Business focus 69
13.5.6.5 SWOT analysis 70
13.5.6.6 Business strategies 71
14 Global Generalist 72
14.1 Information Engineering Group, Inc. 72
14.1.1 Overview 72
14.2 Rad Data Communication 72
14.2.1 Overview 72
14.3 Tyco traffic & transportation 72
14.3.1 Overview 72
14.4 Alcatel Lucent 73
14.4.1 Overview 73
14.5 Huawei 73
14.5.1 Overview 73
14.6 ArcelorMittal 73
14.6.1 Overview 73
14.7 Redflex Holdings Limited 74
14.7.1 Overview 74
14.8 American Traffic Solutions 74
14.8.1 Overview 74
14.9 Sensys Gatso Group AB. 75
14.9.1 Overview 75
15 Companies to Watch for 76
15.1 Elsys Intelligent Devices 76
15.1.1 Overview 76
15.2 Light metrics 76
15.2.1 Overview 76
15.3 Safe drive Systems 77
15.3.1 Overview 77
16 Competitive Landscape 78
16.1 Competitor Comparison Analysis 78
Annexure 79
Acronyms 79


List Of Tables



TABLE 1 ROAD SAFETY MARKET REVENUE BY SOLUTION, 2017-2024 ($BILLION) 39
TABLE 2 ROAD SAFETY MARKET REVENUE BY SERVICE, 2017-2024 ($BILLION) 47
TABLE 3 ROAD SAFETY MARKET REVENUE BY TECHNOLOGY, 2017-2024 ($BILLION) 51
TABLE 4 ROAD SAFETY MARKET REVENUE BY REGION, 2017-2024 ($BILLION) 56


List Of Figures



CHART 2 RESEARCH METHODOLOGY 14
CHART 3 TRANSPORT MANAGEMENT SYSTEM MARKET REVENUE, 2017-2024 ($BILLION) 16
CHART 4 ROAD SAFETY MARKET REVENUE, 2017-2024 ($BILLION) 17
CHART 5 TECHONOLOGICAL SOLUTIONS MODEL & ARCHITECTURE 20
CHART 6 PORTERS 5 FORCES ON ROAD SAFETY MARKET 28
CHART 7 ECOSYSTEM OF ROAD SAFETY MARKET 30
CHART 8 ROAD SAFETY MARKET SEGMENTATION 31
CHART 9 MARKET DYNAMICS DRIVERS, RESTRAINTS & OPPORTUNITIES 32
CHART 10 DRO - IMPACT ANALYSIS OF ROAD SAFETY MARKET 35
CHART 11 ROAD SAFETY MARKET SHARE BY SOLUTION, 2017 AND 2024 38
CHART 12 ROAD SAFETY MARKET REVENUE BY SOLUTION, 2017-2024 ($BILLION) 39
CHART 13 ROAD SAFETY MARKET REVENUE BY RED LIGHT ENFORCEMENT, 2017-2024 ($BILLION) 40
CHART 14 ROAD SAFETY MARKET REVENUE BY SPEED LIGHT ENFORCEMENT, 2017-2024 ($BILLION) 41
CHART 15 ROAD SAFETY MARKET REVENUE BY INCIDENT DETECTION & COMMUNICATION SYSTEM, 2017-2024 ($BILLION) 42
CHART 16 ROAD SAFETY MARKET REVENUE BY BUS LANE COMPILANCE, 2017-2024 ($BILLION) 43
CHART 17 ROAD SAFETY MARKET REVENUE BY AUTOMATIC LICENSE PLATE RECOGNITION, 2017-2024 ($BILLION) 43
CHART 18 ROAD SAFETY MARKET REVENUE BY OTHERS, 2017-2024 ($BILLION) 44
CHART 19 ROAD SAFETY MARKET SHARE BY SERVICE, 2017 AND 2024 46
CHART 20 ROAD SAFETY MARKET REVENUE BY SERVICE, 2017-2024 ($BILLION) 46
CHART 21 ROAD SAFETY MARKET REVENUE BY PROFESSIONAL SERVICES, 2017-2024 48
CHART 22 ROAD SAFETY MARKET REVENUE BY MANAGED SERVICES, 2017-2024 48
CHART 23 ROAD SAFETY MARKET SHARE BY TECHNOLOGY, 2017 AND 2024 50
CHART 24 ROAD SAFETY MARKET REVENUE BY TECHNOLOGY, 2017-2024 ($BILLION) 50
CHART 25 ROAD SAFETY MARKET REVENUE BY RADAR & SENSOR BASED DEVICES, 2017-2024 ($BILLION) 52
CHART 26 ROAD SAFETY MARKET REVENUE BY ANALYTICS, 2017-2024 ($BILLION) 53
CHART 27 ROAD SAFETY MARKET REVENUE BY SURVILLENCE, 2017-2024 ($BILLION) 53
CHART 28 ROAD SAFETY MARKET SHARE BY REGIONS, 2017 AND 2024 55
CHART 29 ROAD SAFETY MARKET REVENUE BY REGIONS, 2017-2024 ($BILLION) 55
CHART 30 ROAD SAFETY MARKET REVENUE BY AMERICAS, 2017-2024 ($BILLION) 57
CHART 31 ROAD SAFETY MARKET REVENUE BY EMEA, 2017-2024 ($BILLION) 58
CHART 32 ROAD SAFETY MARKET REVENUE BY APAC, 2017-2024 ($BILLION) 59
CHART 33 GE HEALTHCARE: OVERVIEW SNAPSHOT 60
CHART 34 GE: BUSINESS UNITS 60
CHART 35 GE: GEOGRAPHIC REVENUE 60
CHART 36 GE: SWOT ANALYSIS 61
CHART 37 GE HEALTHCARE: OVERVIEW SNAPSHOT 62
CHART 38 GE: BUSINESS UNITS 62
CHART 39 GE: GEOGRAPHIC REVENUE 62
CHART 40 GE: SWOT ANALYSIS 63
CHART 41 GE HEALTHCARE: OVERVIEW SNAPSHOT 64
CHART 42 GE: BUSINESS UNITS 64
CHART 43 GE: GEOGRAPHIC REVENUE 64
CHART 44 GE: SWOT ANALYSIS 65
CHART 45 GE HEALTHCARE: OVERVIEW SNAPSHOT 65
CHART 46 GE: BUSINESS UNITS 65
CHART 47 GE: GEOGRAPHIC REVENUE 66
CHART 48 GE: SWOT ANALYSIS 66
CHART 49 GE HEALTHCARE: OVERVIEW SNAPSHOT 67
CHART 50 GE: BUSINESS UNITS 67
CHART 51 GE: GEOGRAPHIC REVENUE 67
CHART 52 GE: SWOT ANALYSIS 68
CHART 53 GE HEALTHCARE: OVERVIEW SNAPSHOT 69
CHART 54 GE: BUSINESS UNITS 69
CHART 55 GE: GEOGRAPHIC REVENUE 69
CHART 56 GE: SWOT ANALYSIS 70
CHART 57 ELYSYS INTELLIGENT DEVICES: OVERVIEW SNAPSHOT 76
CHART 58 LIGHT METRICS: OVERVIEW SNAPSHOT 76


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