Worldwide Road Safety Industry to 2028 - Featuring Siemens, Swarco and Vitronic Among Others - ResearchAndMarkets.com

The global road safety market size is expected to reach USD 6.66 billion by 2028, expanding at a CAGR of 12.4% from 2021 to 2028.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, July 2, 2021
Information
Tags: 
Other Construction & Property, Construction & Property, Urban planning, Road safety, Road traffic safety, Traffic collision, Speed limit, Service industries, Human activities, Human behavior
⚠generated by AI ↴
Summary
Key Points: 
  • The global road safety market size is expected to reach USD 6.66 billion by 2028, expanding at a CAGR of 12.4% from 2021 to 2028.
  • Over the years, alcohol and speeding have been the leading causes of fatalities related to road accidents, making road safety systems a mandate across most countries.
  • Several countries are engaged in conducting formal road safety assessments every year while developing strategies to achieve road safety.
  • Such initiatives will play a vital role in creating demand for road safety solutions over the forecast period.


The "Road Safety Market Size, Share & Trends Analysis Report by Solution (Red Light & Speed Enforcement, ANPR/ALPR), Service (Professional, Managed), Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global road safety market size is expected to reach USD 6.66 billion by 2028, expanding at a CAGR of 12.4% from 2021 to 2028. World health organization estimates say that over 1.3 million people die of road accidents every year. This statistic is enough to suggest that road safety is crucial for all. With countries focusing on lowering accidents, the deployment of road safety solutions including surveillance or continuous vehicle monitoring systems has gained prominence.

Over the years, alcohol and speeding have been the leading causes of fatalities related to road accidents, making road safety systems a mandate across most countries. Providing a safer environment for pedestrians and cyclists will also create a safe road environment for the population, creating avenues for future growth. To keep pace with market demand, vendors aim to develop technologically advanced products, have an extended life, and are less prone to vandalism. Intelligent displays, high-resolution cameras, and systems that can monitor in terrible weather conditions or low light are gaining traction favoring the demand for road safety products over the next few years. Several countries are engaged in conducting formal road safety assessments every year while developing strategies to achieve road safety. Such initiatives will play a vital role in creating demand for road safety solutions over the forecast period.

Companies Profiled

  • American Traffic Solutions (Verra Mobility)
  • FLIR Systems, Inc.
  • IDEMIA
  • Jenoptik
  • Kapsch TraficCom
  • Redflex Holdings
  • Sensys Gatso Group AB
  • Siemens
  • Swarco
  • Vitronic

Road Safety Market Report Highlights

  • Road fatalities are preventable with a practical system approach and the installation of road safety equipment to manage traffic concerns and injuries. The global market for road safety is anticipated to surpass USD 6 billion by 2028 amid the proliferation of favorable policies and measures undertaken to ensure the safety
  • The Automatic Number/License Plate Recognition (ANPR/ALPR) segment captured a sizeable chunk of the overall revenue and is anticipated to witness healthy demand by 2028. Advances in the ANPR product technology will be a key reason instigating growth over the forecast period
  • Professional services emerged as a preferred choice among policymakers. The ability to offer end-to-end monitoring and maintenance services will help upkeep segment growth
  • Asia Pacific will witness a rapid uptake in the forthcoming years. Rapid urbanization has brought the region at the risk of increased fatalities, positively impacting the demand for traffic management systems. However, a lack of clear guidelines and policies to control road fatalities could pose a challenge to the growth

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Road Safety Industry Outlook

3.1. Market Segmentation

3.2. Value Chain Analysis

3.3. Market Dynamics

3.4. Penetration & Growth Prospects Mapping

3.5. Industry Analysis - Porter's Five Force Analysis

3.6. PEST Analysis

3.7. Key Company Ranking Analysis, 2020

Chapter 4. Road Safety Market: Solution Outlook

4.1. Road Safety Market Estimates & Forecasts, By Solution, 2020 & 2028 (USD Million)

4.2. Red Light & Speed Enforcement

4.3. Incident Detection & Response

4.4. ANPR/ALPR

4.5. Others

Chapter 5. Road Safety Market: Service Outlook

5.1. Road Safety Market Estimates & Forecasts, By Service, 2020 & 2028 (USD Million)

5.2. Professional Services

5.3. Managed Services

Chapter 6. Road Safety Market: Regional Outlook

6.1. Road Safety Market Estimates & Forecasts, By Region, 2020 & 2028 (USD Million)

6.2. North America

6.3. Europe

6.4. Asia Pacific

6.5. Latin America

6.6. Middle East & Africa

Chapter 7. Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/ytn9w0

Copyright: 
Copyright Business Wire 2021