Road Safety Market to Soar at a CAGR of 9.1% to 2020 Driven by Rising Road Fatality Rate

Jan 11, 2016, 03:00 ET from ReportsnReports

PUNE, India, January 11, 2016 /PRNewswire/ --

The road safety market size is expected 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%. Major factors contributing to the growth of road safety market are- increasing road accident/fatality rates and growing government regulations and standards for road safety across the globe.

Complete report on global road safety market spread across 121 pages, profiling 10 companies and supported with 44 tables and 47 figures is now available at http://www.reportsnreports.com/reports/284607-road-safety-market-by-types-highways-and-bridges-safety-urban-roads-safety-and-tunnels-safety-systems-red-light-enforcement-speed-limit-enforcement-bus-lane-enforcement-communication-incident-detection-worldwide-market-forecast-2014-2019-.html .

The red light enforcement solution is estimated to contribute the largest market share during the forecast period. Furthermore, due to rise in demand from traffic enforcement, detection, and prevention, automatic license plate recognition solution is expected to gain traction and would grow at the highest CAGR in the next five years. 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.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%), and Tier 3 (25%) companies. The interviews were conducted with various key people such as C-level (60%), Director Level (25%) and others (15%) operating in the road safety market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), APAC (40%) and RoW (30%).

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 various key road safety vendors profiled in the report such as Jenoptik, Kapsch AG, Redflex, Morpho (Safran Group), American Traffic Solutions, Information Engineers Group, Inc., 3M, Sensys Gato Group AB, Motorola Solutions, Inc., Swarco AG. Order a copy of 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 research report at http://www.reportsnreports.com/purchase.aspx?name=284607 .

This report segments the road safety market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across different verticals and regions. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions in the worldwide road safety market.

Continuing with the related market, another research titled Public Safety and Security Market Global Forecast to 2020 says the public safety and security market size is estimated to grow from USD 220.82 billion in 2015 to USD 370.64 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 10.91% from 2015 to 2020. Increasing need for security in critical infrastructure and utilities is to drive the public safety and security market. Critical communication networks are expected to gain the maximum traction during the forecast period. Companies like Cisco Systems, Inc., NEC Corporation, Thales Group, IBM, Honeywell International, Inc., ESRI, Alcatel -Lucent, Northrop Grumman Corporation, Huawei Technologies, AGT International have been profiled in this 131 pages research available at http://www.reportsnreports.com/reports/434855-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.html.

Explore more reports on IT & Telecommunication at http://www.reportsnreports.com/market-research/information-technology/.

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