Road Safety Market Worth 3.63 Billion USD by 2020

18 Dec, 2015, 12:30 ET from MarketsandMarkets

PUNE, India, December 18, 2015 /PRNewswire/ --

According to a new market research report, "Road Safety Market by Solution (Red Light Enforcement, Speed Enforcement, Incident Detection Systems, Bus Lane Compliance, Automatic License Plate Recognition), by Service, by Region - Global Forecast to 2020", published by MarketsandMarkets, the Road Safety Market size is estimated to grow from USD 2.35 Billion in 2015 to USD 3.63 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.1%. With an increase in the number of road fatality rate, the need for road safety is growing rapidly across the globe.

Browse 44 market data Tables and 47 Figures spread through 121 Pages and in-depth TOC on "Road Safety Market"

http://www.marketsandmarkets.com/Market-Reports/road-safety-market-93636585.html
Early buyers will receive 10% customization on this report.

The increase in road fatality rate will drive the Road Safety Market 

The increase in road accidents and fatalities is driving the need for deployment of road safety solutions and the market is expected to grow with special attention on improving road safety and public safety infrastructure. Furthermore, as the government regulations and standards, pertaining to road safety, needs to implemented and enforced by countries globally, the market for road safety is expected to gain traction.

Automatic license plate recognition solution to play a key role in the Road Safety Market 

Red light enforcement solution is expected to dominate the Road Safety Market from 2015 to 2020 with the largest market share. Automatic license plate recognition solution is expected to play a key role in changing the road safety landscape and will grow at the highest growth rate during the forecast period, as these solutions are increasingly being adopted in traffic enforcement, detection and prevention for road safety.

Consulting and system integration services to gain traction during the forecast period 

The consulting and system integration services is expected to contribute the largest market share in the Road Safety Market and is also expected to grow at the highest rate from 2015 to 2020. The market is also projected to witness growth in the managed services as well as training, support and maintenance services, during the forecast period.

North America expected to contribute the largest market share, APAC to grow the fastest 

North America is expected to have the largest market share and would dominate the Road Safety Market from 2015 to 2020, due to presence of a large number of road safety vendors. APAC offers potential growth opportunities for the Road Safety Market to grow, as countries in APAC are investing heavily to increase the development of critical infrastructure comprising highways and bridges, urban roads and tunnels.

The major vendors in the Road Safety Market include Swarco group, Kapsch Group, Jenoptik, Redflex, American Traffic Solutions, Inc., and others.

For further Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=93636585

MarketsandMarkets segments the Road Safety Market on the basis of solutions, services, and regions. The report covers regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The report also covers detailed information regarding the major factors influencing the growth of the Road Safety Market, such as drivers, restraints, challenges, and opportunities.

Browse Related Report:- 

Public Safety and Security Market by Solution, Service, Vertical (Homeland Security, Emergency Services, Manufacturing, and Others), and Region (North America, Europe, Asia Pacific, Middle East and Africa and Latin America) - Global Forecast to 2020

http://www.marketsandmarkets.com/Market-Reports/public-safety-security-market-1024.html

About MarketsandMarkets 

MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 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.

M&M's flagship competitive intelligence and market research platform, "RT" 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. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.


Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra -411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it


SOURCE MarketsandMarkets