The Worldwide Road Safety Industry is Expected to Reach $8 Billion by 2030

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Jul 22, 2022, 14:15 ET

DUBLIN, July 22, 2022 /PRNewswire/ -- The "Road Safety Market Share, Size, Trends, Industry Analysis Report, By Solution, By Services, By Region, Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global road safety market size is expected to reach USD 8.14 billion by 2030. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

An upsurge in the number of accidents and fatalities, the efforts by governments to strengthen security, and the emergence of new security initiatives by the national and international government agencies are driving the growth of the safety industry. In addition, several countries are heavily investing in road security to reduce fatalities and serious injuries. For instance, the Government of Australia has directly invested USD 2 Bn towards highway safety. On the other hand, new safety product developments are expected to create lucrative growth opportunities for the industry.

The incident detection and response solution segment is anticipated to witness the highest growth rate over the forecast period. This is attributed to the need for continuous monitoring of the traffic conditions and detecting traffic queues or incidents. The rising number of road networks around the globe are being equipped with a variety of CCTV cameras and detectors to ensure automated continuous monitoring.

Furthermore, the new incident detection and response solution product developments are projected to create lucrative growth opportunities for the industry during the forecast period. For instance, in March 2021, Hikvision, an IoT solution provider, introduced the All-Rounder ITS camera, the latest traffic product mainly designed for improving safety and optimizing traffic flow.

Asia Pacific is anticipated to witness the highest growth in the global market due to an upsurge in the number of vehicles, an increasing number of accidents, and various government initiatives associated with road safety. In addition, the region is seeing developments in infrastructure development coupled with the emerging trend of smart traffic and transportation.

Market participants such as Conduent, Connected Wise LLC, Clearview Intelligence, Cubic Corp, Dahua Technology, IDEMIA, JENOPTIK, Verra Mobility, FRED Engineering, Kapsch TrafficCom, Kodiak Robotics, Laser Technology, Motorola Solutions, LiveRoad Analytics, Sensys Gatso Group, Siemens, SWARCO, Vebit AI, Traffic Management, and VITRONIC are some of the key players operating in the global market.

Players in the global market are adopting several strategies to expand their geographical presence, develop new applicant tracking systems, and generate novel revenue streams. For instance, in October 2021, Abu Dhabi Police collaborated with the IDEMIA. Under this collaboration, Abu Dhabi Police is projected to implement novel and cutting-edge technology solutions to future proof the road system in the UAE.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Road Safety Market Insights
4.1. Road Safety Market - Industry Snapshot
4.2. Road Safety Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising number of Vehicles
4.2.1.2. Adoption of automated vehicles for safety
4.2.2. Restraints and Challenges
4.2.2.1. Cybersecurity and threats in road safety data
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Road Safety Industry trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Road Safety Market, by Solution
5.1. Key Findings
5.2. Introduction
5.2.1. Global Road Safety, by Solution, 2018 - 2030 (USD Billion)
5.3. Enforcement Solution
5.3.1. Global Road Safety Market, by Enforcement Solution, by Region, 2018 - 2030 (USD Billion)
5.4. Automatic License Plate Recognition/Automatic Number Plate Recognition
5.4.1. Global Road Safety Market, by Automatic License Plate Recognition/Automatic Number Plate Recognition, by Region, 2018 - 2030 (USD Billion)
5.5. Incident Detection and Response
5.5.1. Global Road Safety Market, by Incident Detection and Response, by Region, 2018 - 2030 (USD Billion)
5.6. Others
5.6.1. Global Road Safety Market, by Others, by Region, 2018 - 2030 (USD Billion)

6. Global Road Safety Market, by Services
6.1. Key Findings
6.2. Introduction
6.2.1. Global Road Safety Market, by Services, 2018 - 2030 (USD Billion)
6.3. Professional Service
6.3.1. Global Road Safety Market, by Professional Service, by Region, 2018 - 2030 (USD Billion)
6.4. Managed Services
6.4.1. Global Road Safety Market, by Managed Services, by Region, 2018 - 2030 (USD Billion)

7. Global Road Safety Market, by Geography

8. Competitive Landscape
8.1. Expansion and Acquisition Analysis
8.1.1. Expansion
8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles
9.1. Clearview Intelligence
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Recent Development
9.2. Conduent
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Recent Development
9.3. Connected Wise LLC
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Recent Development
9.4. Cubic Corp
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Recent Development
9.5. Dahua Technology
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Recent Development
9.6. FRED Engineering.
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Recent Development
9.7. IDEMIA
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Recent Development
9.8. JENOPTIK
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Recent Development
9.9. Kapsch TrafficCom
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Recent Development
9.10. Kodiak Robotics
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Recent Development
9.11. Laser Technology.
9.11.1. Company Overview
9.11.2. Financial Performance
9.11.3. Product Benchmarking
9.11.4. Recent Development
9.12. LiveRoad Analytics
9.12.1. Company Overview
9.12.2. Financial Performance
9.12.3. Product Benchmarking
9.12.4. Recent Development
9.13. Motorola Solutions.
9.13.1. Company Overview
9.13.2. Financial Performance
9.13.3. Product Benchmarking
9.13.4. Recent Development
9.14. Sensys Gatso Group
9.14.1. Company Overview
9.14.2. Financial Performance
9.14.3. Product Benchmarking
9.14.4. Recent Development
9.15. Siemens
9.15.1. Company Overview
9.15.2. Financial Performance
9.15.3. Product Benchmarking
9.15.4. Recent Development
9.16. SWARCO
9.16.1. Company Overview
9.16.2. Financial Performance
9.16.3. Product Benchmarking
9.16.4. Recent Development
9.17. Traffic Management
9.17.1. Company Overview
9.17.2. Financial Performance
9.17.3. Product Benchmarking
9.17.4. Recent Development
9.18. Vebit AI
9.18.1. Company Overview
9.18.2. Financial Performance
9.18.3. Product Benchmarking
9.18.4. Recent Development
9.19. Vebit AI
9.19.1. Company Overview
9.19.2. Financial Performance
9.19.3. Product Benchmarking
9.19.4. Recent Development
9.20. VITRONIC
9.20.1. Company Overview
9.20.2. Financial Performance
9.20.3. Product Benchmarking
9.20.4. Recent Development

For more information about this report visit https://www.researchandmarkets.com/r/c1rqm