Road Safety Market - Estimated to Grow from USD 2.35 Billion in 2015 to USD 3.63 Billion by 2020 at a CAGR of 9.1%

Jan 05, 2016, 06:10 ET from Research and Markets


DUBLIN, Jan. 5, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/2tpm9l/road_safety) has announced the addition of the "Road Safety Market - Global Forecast to 2020" report to their offering.

With the increase in the number of passenger traffic and congestion on the roads, the demand for technology-driven, automated, and a highly secured road infrastructure has grown immensely. The major factors contributing to the growth of market are- increasing road accident/fatality rates and growing government regulation and standards for road safety across the globe.

Furthermore, with the rise in demand for advanced infrastructure development such as Smart City initiatives and new technologies such as driver assistance systems, vehicle lane enforcement systems, incident response systems, automatic number plate recognition systems, the market for road safety is expected to gain traction in the next five years.

The scope of this report covers the road safety market by solution, service, and region. The red light enforcement solution is expected to dominate the market, contributing the largest market share during the forecast period. The market is also projected to witness growth in speed enforcement solution and incident detection systems during the forecast period. Automatic license plate recognition is expected to play a key role in road safety landscape and is expected to grow at the highest growth rate in the next five years.

The consulting and system integration service is expected to dominate the road safety market in market size and will also grow at the highest growth rate during the forecast period. Risk assessment and analysis services is also expected to grow as it involves reviewing the existing road safety infrastructure to identify threats, critical assets, and vulnerabilities on highways, urban and rural roads, bridges, and tunnels.

North America is expected to have the largest market share and would dominate the road safety market during the forecast period. APAC offers potential growth opportunities for the market and is estimated to grow at the highest CAGR during the forecast period. APAC and MEA markets are investing heavily to increase the development of critical infrastructure comprising highways and bridges, urban roads, and tunnels.

Rise in the ageing population and road infrastructure is one of the major challenges for modern road safety market. As the population aged over 65 will get multiplied in the coming years, the risk of road fatalities will also increase.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Road Safety Market Analysis, By Solution

8 Road Safety Market Analysis, By Service

9 Geographic Analysis

10 Competitive Landscape

11 Company Profiles

  • 3M
  • American Traffic Solutions (ATS)
  • Information Engineers Group Inc.
  • Jenoptik
  • Kapsch AG
  • Morpho (Safran)
  • Motorola Solutions, Inc
  • Redflex Holdings Limited
  • Sensys Gato Group AB
  • Swarco AG

For more information visit http://www.researchandmarkets.com/research/2tpm9l/road_safety

Media Contact:

Laura Wood, +353-1-481-1716, press@researchandmarkets.net

 

SOURCE Research and Markets



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