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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

Road Safety Market: Global Forecast until 2021

  • November 2016
  • 117 pages
  • ID: 3512042
In this report:
APAC is expected to account for an ##.##% market share in 2016 and is projected to have a growth rate of ##.##% during the forecast period.
North America is expected to account for the largest share (##.##%) of the overall road safety market in 2016 due to technological advancements.
Latin America is expected to account for ##.##% of the total road safety market share in 2016 and is expected to grow at a CAGR of ##.##%.

Summary

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"Road safety market is anticipated to grow at a compound annual growth rate (CAGR) of 9.30 percent from 2016 to 2021"

The road safety market size is forecasted to grow from ~$2.6B in 2016 to ~$4.1B by 2021, at a CAGR of 9.30 percent. Growth in mobility and the associated demands on transportation systems, strict government regulations for road safety, and rise in road accidents/fatality rate are driving the road safety market. On the other hand, lack of awareness and engineering challenges are some of the restraints for the increase ot the market.

"Automatic license plate recognition is anticipated to be the quickest increasing solution in road safety"

Automatic license plate recognition plays a top 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 including video cameras, speed calculation, and alarms to detect a particular vehicle.

"Red light enforcement is anticipated to be the biggest 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 (NA) is forecasted to have the biggest industry size and Asia-Pacific estimated to grow at the highest compound annual growth rate (CAGR)"

North America continent is forecasted to hold the biggest share of the road safety market owing to early adoption of technology and the presence of big number of solution providers. Nevertheless, the Asia-Pacific regions is expected to grow at the quickest pace as it has undergone tremendous economic increase, political transformation, social changes, and active government initiatives. Countries such as india (IN), China (CN), Philippines, and Australia (AU) have embarked upon ambitious and important initiatives to improve the strategic planning, agency capability, and evaluation of road safety projects.

In the process of finding out and checking the market value for various segments and subsegments collected by secondary research, extensive primary audit sessions were managed with main people.

The break-up of profile of primary members taking part is like:

- By Organization: Tier 1: 55 %, Tier 2: 20.0 percent, and Tier 3: 25.0 percent

- By Description: C-suite: 60.0 percent, D-level: 25.0 percent, Others: 15.0 percent

- By area: North america (NA): 10.0 percent, Europe: 20.0 percent, APAC: 40.0 percent, Rest of the World : 30.0 percent

The road safety market document breaks down the market based on components and areas. The industry report also contains the profiling and competitive landscape of the main technology vendors. Some of the main technology vendors contain Jenoptik AG, Kapsch TrafficCom AG, Sensys Gatso Group AB, Redflex Holdings Limited, American Traffic Solutions, Incorporated, 3M Co (NYSE:MMM), FLIR Systems, Incorporated, Motorola Solutions, SWARCO AG, and Information Engineering Group Inc.

Segment Research

The study offers a picture on road safety market across different areas. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including solution, service, and territories. Moreover, the analysis also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, SWOT study, latest developments, and key industries strategies.

Why acquiring this study can help you:

From an insight prospect, this market research has emphasized several levels of analysis - industry, market analysis of top actors, value chain study, and company descriptions, which together comprise and examine the basic overviews on the competitive landscape; coming out and high-growth segments of the road safety market; high-growth areas; and sector drivers, market restraints, and alternatives.

This study furnishes highlights on the following points:

- Business entry: Exhaustive information on road safety provided by the top actors in the overall road safety market

- Product improvement/Innovative products: In-depth understanding on up-on-coming technologies, analysis & growth activities, and recent product launches in the road safety market

- Industry development: Highlighted information about lucrative emerging markets-the report examines the industries for road safety across localities

- Industry diversification: Complete information about recent products, untapped areas, recent evolutions, and market investments in the overall road safety market

- Opposing assessment: Detailed assessment of strategies, products, and service offerings of the leading actors in the overall road safety market

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