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Road Safety Market by Solution, Service - Global Forecast to 2021

  • November 2016
  • -
  • MarketsandMarkets
  • -
  • 117 pages

“Road safety market is expected to grow at a CAGR of 9.3% from 2016 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%. Increase in mobility and the associated demands on transportation systems, strict government regulations for road safety, and increase in road accidents/fatality rate are driving the road safety market. However, lack of awareness and engineering challenges are some of the restraints for the growth of the market.

“Automatic license plate recognition is expected to be the fastest growing solution in road safety”
Automatic license plate recognition plays a key role in the planning and control of modern cities and can be deployed for a variety of applications. The system is easy to install with functions such as video cameras, speed calculation, and alarms to detect a particular vehicle.

“Red light enforcement is expected to be the largest contributor in the road safety solutions market”
Red light enforcement is one of the most important safety control systems in traffic management. This system is easy and cost-efficient, compared to other safety devices. Also, with the advent of smart cities and safety initiatives governments tend to extensively install red light enforcement solutions.

“North America is expected to have the largest market size and Asia-Pacific (APAC) projected to grow at the highest CAGR”
North America is expected to hold the largest share of the road safety market owing to early adoption of technology and the presence of large number of solution providers. However, the APAC region is projected to grow at the fastest pace as it has undergone tremendous economic growth, political transformation, social changes, and active government initiatives. Countries such as India, China, Philippines, and Australia have embarked upon ambitious and important initiatives to enhance the strategic planning, agency capability, and evaluation of road safety projects.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profile of primary participants is as follows:

- By Company: Tier 1: 55 %, Tier 2: 20%, and Tier 3: 25%
- By Designation: C level: 60%, Director level: 25%, Others: 15%
- By Region: North America: 10%, Europe: 20%, APAC: 40%, Rest of the World (RoW): 30%

The road safety market report segments the market on the basis of components and regions. The report also contains the profiling and competitive landscape of the major technology vendors. Some of the major technology vendors include Jenoptik AG, Kapsch TrafficCom AG, Sensys Gatso Group AB, Redflex Holdings Limited, American Traffic Solutions, Inc., 3M, FLIR Systems, Inc., Motorola Solutions, SWARCO AG, and Information Engineering Group Inc.


Research Coverage:
The report provides a picture on road safety market across different regions. It aims at estimating the market size and future growth potential of this market across different segments such as solution, service, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Reasons to buy this report:

From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market analysis of top players, value chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the road safety market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on road safety offered by the top players in the global road safety market

- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the road safety market

- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for road safety across regions

- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global road safety market

- Competitive Assessment: In-depth assessment of strategies, products, and service offerings of the leading players in the global road safety market

Table Of Contents

Road Safety Market by Solution, Service - Global Forecast to 2021
TABLE OF CONTENTS

1 INTRODUCTION 12
1.1 OBJECTIVES OF THE STUDY 12
1.2 MARKET DEFINITION 12
1.3 MARKET SCOPE 13
1.3.1 MARKETS COVERED 13
1.3.2 YEARS CONSIDERED FOR THE STUDY 13
1.4 CURRENCY 14
1.5 LIMITATIONS 14
1.6 STAKEHOLDERS 14
2 RESEARCH METHODOLOGY 15
2.1 RESEARCH DATA 15
2.1.1 SECONDARY DATA 16
2.1.1.1 Key data from secondary sources 16
2.1.2 PRIMARY DATA 16
2.1.2.1 Key data from primary sources 17
2.1.2.2 Key industry insights 18
2.1.2.3 Breakdown of primary interviews 18
2.2 MARKET SIZE ESTIMATION 19
2.2.1 BOTTOM-UP APPROACH 19
2.2.2 TOP-DOWN APPROACH 20
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 21
2.4 RESEARCH ASSUMPTIONS 22
3 EXECUTIVE SUMMARY 23
4 PREMIUM INSIGHTS 27
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN THE ROAD SAFETY MARKET 27
4.2 ROAD SAFETY MARKET, BY REGION, 2016 VS. 2021 27
4.3 ROAD SAFETY MARKET, BY SOLUTION, 2016-2021 28
4.4 ROAD SAFETY MARKET: BY REGION AND SOLUTION, 2016 29
4.5 LIFECYCLE ANALYSIS, BY REGION 2016 30
4.6 MARKET INVESTMENT SCENARIO 31

5 MARKET OVERVIEW 32
5.1 INTRODUCTION 33
5.2 MARKET EVOLUTION 33
5.3 MARKET SEGMENTATION 34
5.3.1 BY SOLUTION 34
5.3.2 BY SERVICE 34
5.3.3 BY REGION 35
5.4 MARKET DYNAMICS 35
5.4.1 DRIVERS 36
5.4.1.1 Increase in mobility and the associated demands on transportation systems 36
5.4.1.2 Increase in urbanization 36
5.4.1.3 Increase in road accidents/fatality rate 36
5.4.1.4 Growing government regulations for road safety 36
5.4.2 RESTRAINTS 37
5.4.2.1 Insufficient government funding in decentralized areas: barrier to implement advanced road safety infrastructure 37
5.4.3 OPPORTUNITIES 37
5.4.3.1 Rise in demand for advanced infrastructure development 37
5.4.3.2 Smart city initiatives 37
5.4.4 CHALLENGES 37
5.4.4.1 Heavy spending on road maintenance limits the budget for advanced road technologies implementation 37
5.5 INNOVATION SPOTLIGHT 38
6 INDUSTRY TRENDS 39
6.1 INTRODUCTION 39
6.2 VALUE CHAIN ANALYSIS 39
6.3 STRATEGIC BENCHMARKING 41
6.4 DEMAND OVERVIEW 41
7 ROAD SAFETY MARKET ANALYSIS, BY COMPONENT 43
7.1 INTRODUCTION 44
8 ROAD SAFETY MARKET ANALYSIS, BY SOLUTION 45
8.1 INTRODUCTION 46
8.2 RED LIGHT ENFORCEMENT 47
8.3 SPEED ENFORCEMENT 48
8.4 INCIDENT DETECTION SYSTEM 48
8.5 BUS LANE COMPLIANCE 49
8.6 AUTOMATIC LICENSE PLATE RECOGNITION 50
8.7 OTHERS 51
9 ROAD SAFETY MARKET ANALYSIS, BY SERVICE 52
9.1 INTRODUCTION 53
9.2 PROFESSIONAL SERVICES 54
9.2.1 CONSULTING AND SYSTEM INTEGRATION 55
9.2.2 TRAINING, SUPPORT, AND MAINTENANCE 56
9.2.3 RISK ASSESSMENT AND ANALYSIS 56
9.3 MANAGED SERVICES 57
10 GEOGRAPHIC ANALYSIS 59
10.1 INTRODUCTION 60
10.2 NORTH AMERICA 62
10.3 EUROPE 65
10.4 ASIA-PACIFIC 67
10.5 MIDDLE EAST AND AFRICA 70
10.6 LATIN AMERICA 73
11 COMPETITIVE LANDSCAPE 76
11.1 OVERVIEW 76
11.2 PORTFOLIO COMPARISON 77
11.3 COMPETITIVE SITUATION AND TRENDS 78
11.4 AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS 80
11.5 MERGERS AND ACQUISITIONS 81
11.6 BUSINESS EXPANSIONS 81
11.7 NEW LAUNCHES 82
12 COMPANY PROFILES 83
(Overview, Financial*, Products and Services, Strategy, and Developments)
12.1 INTRODUCTION 83
12.2 JENOPTIK AG 84
12.3 KAPSCH TRAFFICCOM AG 88
12.4 SENSYS GATSO GROUP AB 91
12.5 REDFLEX HOLDINGS LIMITED 95
12.6 AMERICAN TRAFFIC SOLUTIONS, INC. (ATS) 98
12.7 3M 100
12.8 FLIR SYSTEMS, INC. 102
12.9 MOTOROLA SOLUTIONS INC. 104
12.10 SWARCO AG 106
12.11 INFORMATION ENGINEERS GROUP INC. 107
*Details might not be captured in case of unlisted companies.

13 APPENDIX 108
13.1 INSIGHT OF INDUSTRY EXPERTS 108
13.2 DISCUSSION GUIDE 109
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 111
13.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 113
13.5 AVAILABLE CUSTOMIZATIONS 113
13.6 RELATED REPORTS 114


LIST OF TABLES

TABLE 1 ROAD SAFETY COMPONENTS MARKET SIZE AND GROWTH,
2014-2021 (USD BILLION) 24
TABLE 2 ROAD SAFETY MARKET SIZE, BY COMPONENT, 2014-2021 (USD MILLION) 44
TABLE 3 ROAD SAFETY MARKET SIZE, BY SOLUTION, 2014-2021 (USD MILLION) 46
TABLE 4 RED LIGHT ENFORCEMENT: ROAD SAFETY MARKET SIZE, BY REGION,
2014-2021 (USD MILLION) 47
TABLE 5 SPEED ENFORCEMENT: ROAD SAFETY MARKET SIZE, BY REGION,
2014-2021 (USD MILLION) 48
TABLE 6 INCIDENT DETECTION SYSTEM: ROAD SAFETY MARKET SIZE, BY REGION,
2014-2021 (USD MILLION) 49
TABLE 7 BUS LANE COMPLIANCE: ROAD SAFETY MARKET SIZE, BY REGION,
2014-2021 (USD MILLION) 49
TABLE 8 AUTOMATIC LICENSE PLATE RECOGNITION: ROAD SAFETY MARKET SIZE,
BY REGION, 2014-2021 (USD MILLION) 50
TABLE 9 OTHERS: ROAD SAFETY MARKET SIZE, BY REGION, 2014-2021 (USD MILLION) 51
TABLE 10 ROAD SAFETY MARKET SIZE, BY SERVICE, 2014-2021 (USD MILLION) 53
TABLE 11 ROAD SAFETY MARKET SIZE, BY SERVICE, 2014-2021 (USD MILLION) 55
TABLE 12 CONSULTING AND SYSTEM INTEGRATION: ROAD SAFETY MARKET SIZE,
BY REGION, 2014-2021 (USD MILLION) 55
TABLE 13 TRAINING, SUPPORT, AND MAINTENANCE: ROAD SAFETY MARKET SIZE,
BY REGION, 2014-2021 (USD MILLION) 56
TABLE 14 RISK ASSESSMENT AND ANALYSIS: ROAD SAFETY MARKET SIZE, BY REGION, 2014-2021 (USD MILLION) 57
TABLE 15 MANAGED SERVICES: ROAD SAFETY MARKET SIZE, BY REGION,
2014-2021 (USD MILLION) 58
TABLE 16 ROAD SAFETY MARKET SIZE, BY REGION, 2014-2021 (USD MILLION) 60
TABLE 17 NORTH AMERICA: ROAD SAFETY MARKET SIZE, BY COMPONENT,
2014-2021 (USD MILLION) 63
TABLE 18 NORTH AMERICA: ROAD SAFETY MARKET SIZE, BY COUNTRY,
2014-2021 (USD MILLION) 64
TABLE 19 NORTH AMERICA: ROAD SAFETY MARKET SIZE, BY SOLUTION,
2014-2021 (USD MILLION) 64
TABLE 20 NORTH AMERICA: ROAD SAFETY MARKET SIZE, BY SERVICE,
2014-2021 (USD MILLION) 64
TABLE 21 NORTH AMERICA: ROAD SAFETY MARKET SIZE, BY PROFESSIONAL SERVICE, 2014-2021 (USD MILLION) 65
TABLE 22 EUROPE: ROAD SAFETY MARKET SIZE, BY COMPONENT,
2014-2021 (USD MILLION) 65
TABLE 23 EUROPE: ROAD SAFETY MARKET SIZE, BY COUNTRY, 2014-2021 (USD MILLION) 66
TABLE 24 EUROPE: ROAD SAFETY MARKET SIZE, BY SOLUTION, 2014-2021 (USD MILLION) 66
TABLE 25 EUROPE: ROAD SAFETY MARKET SIZE, BY SERVICE, 2014-2021 (USD MILLION) 67
TABLE 26 EUROPE: ROAD SAFETY MARKET SIZE, BY PROFESSIONAL SERVICE,
2014-2021 (USD MILLION) 67
TABLE 27 ASIA-PACIFIC: ROAD SAFETY MARKET SIZE, BY COMPONENT,
2014-2021 (USD MILLION) 68
TABLE 28 ASIA-PACIFIC: ROAD SAFETY MARKET SIZE, BY COUNTRY,
2014-2021 (USD MILLION) 69
TABLE 29 ASIA-PACIFIC: ROAD SAFETY MARKET SIZE, BY SOLUTION,
2014-2021 (USD MILLION) 69
TABLE 30 ASIA-PACIFIC: ROAD SAFETY MARKET SIZE, BY SERVICE,
2014-2021 (USD MILLION) 70
TABLE 31 ASIA-PACIFIC: ROAD SAFETY MARKET SIZE, BY PROFESSIONAL SERVICE,
2014-2021 (USD MILLION) 70
TABLE 32 MIDDLE EAST AND AFRICA: ROAD SAFETY MARKET SIZE, BY COMPONENT,
2014-2021 (USD MILLION) 71
TABLE 33 MIDDLE EAST AND AFRICA: ROAD SAFETY MARKET SIZE, BY COUNTRY,
2014-2021 (USD MILLION) 71
TABLE 34 MIDDLE EAST AND AFRICA: ROAD SAFETY MARKET SIZE, BY SOLUTION,
2014-2021 (USD MILLION) 72
TABLE 35 MIDDLE EAST AND AFRICA: ROAD SAFETY MARKET SIZE, BY SERVICE,
2014-2021 (USD MILLION) 72
TABLE 36 MIDDLE EAST AND AFRICA: ROAD SAFETY MARKET SIZE,
BY PROFESSIONAL SERVICE, 2014-2021 (USD MILLION) 73
TABLE 37 LATIN AMERICA: ROAD SAFETY MARKET SIZE, BY COMPONENT,
2014-2021 (USD MILLION) 73
TABLE 38 LATIN AMERICA: ROAD SAFETY MARKET SIZE, BY COUNTRY,
2014-2021 (USD MILLION) 74
TABLE 39 LATIN AMERICA: ROAD SAFETY MARKET SIZE, BY SOLUTION,
2014-2021 (USD MILLION) 74
TABLE 40 LATIN AMERICA: ROAD SAFETY MARKET SIZE, BY SERVICE,
2014-2021 (USD MILLION) 74
TABLE 41 LATIN AMERICA: ROAD SAFETY MARKET SIZE, BY PROFESSIONAL SERVICE,
2014-2021 (USD MILLION) 75
TABLE 42 AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS, 2014-2016 80
TABLE 43 MERGERS AND ACQUISITIONS, 2014-2016 81
TABLE 44 BUSINESS EXPANSIONS, 2014-2016 81
TABLE 45 NEW LAUNCHES, 2014-2016 82


LIST OF FIGURES

FIGURE 1 GLOBAL ROAD SAFETY MARKET: RESEARCH DESIGN 15
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY, DESIGNATION, AND REGION 18
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 19
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 20
FIGURE 5 DATA TRIANGULATION 21
FIGURE 6 ROAD SAFETY MARKET IS EXPECTED TO DECLINE DURING THE FORECAST PERIOD 24
FIGURE 7 ROAD SAFETY MARKET: TOP THREE SEGMENTS IN 2016 25
FIGURE 8 NORTH AMERICA IS EXPECTED TO HOLD THE LARGEST MARKET SHARE IN 2016 25
FIGURE 9 REGULATORY COMPLIANCE IS DRIVING THE ROAD SAFETY MARKET TOWARDS GROWTH 27
FIGURE 10 ASIA-PACIFIC IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 27
FIGURE 11 AUTOMATIC LICENSE PLATE RECOGNITION SOLUTION TO GROW AT THE HIGHEST CAGR AMONG ALL SOLUTIONS 28
FIGURE 12 RED LIGHT ENFORCEMENT SOLUTION IS EXPECTED TO HOLD THE LARGEST MARKET SHARE IN 2016 29
FIGURE 15 EVOLUTION OF THE ROAD SAFETY MARKET 33
FIGURE 16 ROAD SAFETY MARKET SEGMENTATION: BY SOLUTION 34
FIGURE 17 ROAD SAFETY MARKET SEGMENTATION: BY SERVICE 34
FIGURE 18 ROAD SAFETY MARKET SEGMENTATION: BY REGION 35
FIGURE 19 ROAD SAFETY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 35
FIGURE 20 ROAD SAFETY MARKET: VALUE CHAIN 40
FIGURE 21 STRATEGIC BENCHMARKING: PARTNERSHIPS, AGREEMENTS, AND ACQUISITIONS OF TOP VENDORS 41
FIGURE 22 ROAD TRAFFIC FATALITY RATES, BY REGION 42
FIGURE 23 ROAD TRAFFIC DEATHS BY TYPE OF ROAD USER, WORLDWIDE 42
FIGURE 24 SERVICES SEGMENT IS EXPECTED TO GROW AT HIGHER RATE DURING THE FORECAST PERIOD 44
FIGURE 25 AUTOMATIC LICENSE PLATE RECOGNITION SOLUTION IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 46
FIGURE 26 MANAGED SERVICES SEGMENT IS EXPECTED TO GROW AT THE HIGHER CAGR DURING THE FORECAST PERIOD 53
FIGURE 27 CONSULTING AND SYSTEM INTEGRATION SERVICES SEGMENT IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 54
FIGURE 28 REGIONAL SNAPSHOT: ASIA-PACIFIC IS THE EMERGING REGION IN THE ROAD SAFETY MARKET 60
FIGURE 29 ASIA-PACIFIC IS EXPECTED TO GROW AT THE HIGHEST CAGR FROM DURING THE FORECAST PERIOD 61
FIGURE 30 REGIONAL SNAPSHOT: ASIA-PACIFIC AS A HOTSPOT DURING THE PERIOD
2016-2021 62
FIGURE 31 NORTH AMERICA MARKET SNAPSHOT 63
FIGURE 32 ASIA-PACIFIC MARKET SNAPSHOT 68
FIGURE 33 COMPANIES ADOPTED PARTNERSHIP, AGREEMENT, AND COLLABORATION AS THE KEY GROWTH STRATEGY BETWEEN 2014 AND 2016 76
FIGURE 34 ROAD SAFETY MARKET: PORTFOLIO COMPARISON 77
FIGURE 35 MARKET EVALUATION FRAMEWORK 78
FIGURE 36 BATTLE FOR MARKET SHARE: AGREEMENT, PARTNERSHIP, AND COLLABORATION WAS THE KEY STRATEGY ADOPTED BY THE MARKET PLAYERS BETWEEN
2014 AND 2016 79
FIGURE 37 GEOGRAPHIC REVENUE MIX OF THE TOP 4 MARKET PLAYERS 83
FIGURE 38 JENOPTIK AG: COMPANY SNAPSHOT 84
FIGURE 39 JENOPTIK AG: SWOT ANALYSIS 87
FIGURE 40 KAPSCH TRAFFICOM AG: COMPANY SNAPSHOT 88
FIGURE 41 KAPSCH TRAFFICCOM AG: SWOT ANALYSIS 90
FIGURE 42 SENSYS GATSO GROUP AB: COMPANY SNAPSHOT 91
FIGURE 43 SENSYS GATSO GROUP AB: SWOT ANALYSIS 94
FIGURE 44 REDFLEX HOLDINGS LIMITED: COMPANY SNAPSHOT 95
FIGURE 45 REDFLEX HOLDINGS LIMITED: SWOT ANALYSIS 97
FIGURE 46 AMERICAN TRAFFIC SOLUTIONS, INC: SWOT ANALYSIS 99
FIGURE 47 3M: COMPANY SNAPSHOT 100
FIGURE 48 FLIR SYSTEMS, INC.: COMPANY SNAPSHOT 102
FIGURE 49 MOTOROLA SOLUTIONS INC.: COMPANY SNAPSHOT 104

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