Road Safety Market Worth 5.40 Billion USD by 2026 | Key Players like Jenoptik Kapsch AG Sensys Gatso Group AB American Traffic Solutions 3M Redflex Traffic Systems FLIR SYSTEMS Motorola Solutions Idemia Huawei Technologies Co., Ltd. Information Engineerin
Global road safety market is expected to reach register a CAGR of 10.6% in the forecast period of 2019 to 2026.
Road Safety solutions are implemented by the authorities preventing the road users from getting injured or slaughtered. The implementation of road safety methods, such as red light enforcement, incident detection system, and others ensures reduced traffic deaths and increases the overall safety of the road users. After witnessing a lot of road traffic deaths due to accidents, breaking the red lights, over speeding among others, a lot of nations have regulated the road safety policies minimizing the risk of certain mishaps.
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Market Segmentation: Road Safety Market
The road safety market is segmented into two notable segments which are solution and service.
On the basis of solution, the market is segmented into nine solutions, including red light enforcement, speed enforcement, incident detection system, bus lane compliance, automated solutions, process violations, passenger data processing, semi-automated solutions, and others. Automated solutions are further classified into E-gates and automatic license plate recognition. In 2019, Automated Solutions segment is growing at the highest CAGR and expected to reach USD xx million in the forecast period of 2019 to 2026.
Red Light Enforcement solution segment is expected to dominate the global road safety market as it provides more effective and advanced solution. Whereas, automatic license plate recognition system segment is expected to grow with the highest CAGR due to growing adoption of various automated solutions.
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Competitive Analysis: Road Safety Market
Some of the major players operating in this market include
Sensys Gatso Group AB
American Traffic Solutions
Redflex Traffic Systems
Huawei Technologies Co., Ltd.
Information Engineering Group Inc.
In March, Jenoptik has launched new traffic solution at TRAFFEX show. The traffic solution consists of new spot speed and red light product.
In March, Jenoptik has launched average speed enforcement system named as SPECS3 VECTOR at TRAFFEX show. SPECS3 VECTOR is designed to reduce the road accident caused by high speed.
On the basis of geography, the global road safety market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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Company Share Analysis: Global Road Safety Market
The report for road safety market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
Major Market Competitors:
Some of the major players of the global road safety market are JENOPTIK AG, Kapsch TrafficCom, Sensys Gatso Group AB, 3M, Redflex Holdings Limited & Redflex Traffic Systems Pty Ltd, American Traffic Solutions, FLIR Systems, Inc., Motorola Solutions, Inc., SWARCO AG, INFORMATION ENGINEERING GROUP INC., Huawei Technologies Co., Ltd., Johnson Controls, Saab AB, and others.
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