Road Safety Market worth $4.9 billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 24, 2020 /PRNewswire/ -- According to the new market research report "Road Safety Market by Solution (Red Light, Speed, Bus Lane, Section Enforcement, ALPR/ANPR), Service (Consulting and Training, System Integration and Deployment, and Support and Maintenance), and Region - Global Forecast to 2025", published by MarketsandMarkets, the Road Safety Market size is expected to grow from USD 3.0 billion in 2020 to USD 4.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period. Rising urban population and high demographic rates, rapid motorization, increasing number of road fatalities/accidents, and government initiatives for enhancing road safety are some of the major drivers of this market.

Browse in-depth TOC on "Road Safety Market"
195 – Tables
48 – Figures
223 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93636585

The solution segment is expected to lead the Road Safety Market during the forecast period owing to the demand of government agencies to protect pedestrians and vehicle drivers from all types of road accidents.

The road safety solutions include enforcement solution; incident detection and response; ALPR/ANPR, and others (railroad crossing safety, school bus stop-arm enforcement, and back-office systems). The enforcement solution segment has been further divided into red light enforcement, speed enforcement, bus lane enforcement, and section enforcement. These solutions enable government agencies to protect pedestrians and vehicle drivers from all types of road accidents. With the rapid increase in the number of vehicles on the road, these solutions are gaining traction across the globe

Section enforcement segment is expected to grow at the highest rate during the forecast period due to the capability of forcing drivers to keep vehicles within speed limits, especially on dangerous roads where accidents occur frequently

Speed enforcement system plays a significant role in checking whether road vehicles comply with the recommended speed limit on roads and highways. Speed enforcement includes the use of cameras, parabolic radars using radio waves, and other technologies, including LiDAR, and number plate recognition. LiDAR-based systems are more suitable for detecting speed violations in congested traffic conditions. This is because, the speed enforcement solution helps acquire a specific target (in this case, a vehicle) when attempting to determine the speed of that vehicle in a congested and crowded roadway. Hence, LiDAR is a widely used tool in speed enforcement solutions.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=93636585

North America to dominate the market during the forecast period

Based on region, North America is expected to lead the Road Safety Market during the forecast period. It is the most advanced region in terms of technological adoption and infrastructure development. The US residents own on an average of 800 cars per 1,000 residents, whereas Canada has around 650 cars per 1,000 residents. To manage and monitor heavy road traffic, the US has deployed some of the most advanced technologies. Various government and law enforcement agencies in the US and Canada are taking initiatives to strengthen the security infrastructure and reduce road fatalities. For instance, some of the major US cities are planning to implement "Vision Zero" strategies, with a focus on developing urban mobility systems, wherein any road traffic death is considered unacceptable.

Major vendors covered in the Road Safety Market 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 (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), Trifoil (Sultanate of Oman), and Continental AG (Germany).

Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting

Related Reports:

Public safety and security Market by Component, Solution (Critical Communication Network, Biometric & Authentication System, Surveillance System, Emergency & Disaster Management, Cyber Security), Service, Vertical, and Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/public-safety-security-market-1024.html

Traffic Management Market by Solution (Smart Signaling, Route Guidance and Route Optimization, Traffic Analytics, and Smart Surveillance), Hardware (Display Boards, Sensors, and Surveillance Cameras), Service, System and Region - Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/traffic-management-market-1036.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/road-safety-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/road-safety.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg