New report sheds light on the road safety market

MarketsandMarkets’ latest report, 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) claims that major driving factors responsible for the growth of the market are the constant need for road safety and public security, new infrastructural development, and traffic congestion and longer commuting. The significa
October 5, 2015 Read time: 3 mins
6418 MarketsandMarkets’ latest report, 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) claims that major driving factors responsible for the growth of the market are the constant need for road safety and public security, new infrastructural development, and traffic congestion and longer commuting. The significant rise in this market is due to development of critical transportation infrastructural facilities, new transportation-related projects across the globe.

Mrketsandmarkets expects the road safety market to grow from US$3.37 billion in 2014 to US$5.73 billion in 2019, at a compound annual growth rate (CAGR) of 11.2 per cent from 2014 to 2019. In terms of regions, North America is expected to be the biggest contributor in terms of revenue contribution while the growing markets such as Asia Pacific, Middle East and Africa and Latin America, are expected to experience increased market traction with high CAGRs, during the forecast period.

The report defines and segments the global highways and bridges, urban roads and tunnels safety market into various sub-segments with in-depth analysis and forecasting of revenues. The report also identifies drivers and restraints for this market with insights into latest trends, opportunities, and challenges.

The increasing threats, catastrophic accidents/fatalities, and natural/unnatural disasters have also been the influencing factors for the market growth.

Some of the systems which are gaining traction and investment from various vendors are red light enforcement system, speed limit enforcement system, bus lane enforcement system, communication system, access control system/vehicle detection system, incident detection system and other systems.

The key players for the market are 4054 Alcatel-Lucent, 189 Siemens, 81 Kapsch, Saab, 6778 Flir Systems, 6787 Huawei, 596 Thales and 5816 Tyco, who are reinforcing their business operations into the emerging markets and offer various systems embedded with various devices and technologies to reduce the overall cost and enhance the efficiency.

Also, these vendors have uniquely positioned themselves in the market with propagation of new product developments and lucrative partnerships and acquisitions.

MarketsandMarkets has broadly segmented the market by types: highways and bridges, urban roads and tunnels; by systems: red light enforcement system, speed limit enforcement system, bus lane enforcement system, communication system, access control system/vehicle detection system, incident detection system and other systems; by devices and technologies: surveillance and analytics, radar based, sensor based and others; by services: consulting and system integration, managed services, training, support and maintenance and risk assessment and analysis; by regions: North America (NA), Europe (EU), Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA).
Detection, Monitoring & Machine Vision Enforcement

For more information on companies in this article

Related Content

  • Global powertrain market experience immense growth, say researchers
    April 21, 2017
    The latest report from Frost & Sullivan indicates that the global powertrain market is experiencing immense growth as new low-emission technologies such as engine downsizing and rightsizing; direct injection; turbocharging; transmission electrification; and electric vehicle (EV), hybrid and gasoline engines transform the industry. Original equipment manufacturers (OEMs) are embracing platform strategy as a tool to improve the energy efficiency of powertrain systems and to achieve fleet level CO2 compliance
    Read More
  • Report forecasts rapidly changing market for drones
    February 19, 2015
    A new IDTechEx report, Electric Drones: Unmanned Aerial Vehicles UAVs 2015-2025, examines the market for drones or unmanned aerial vehicles (UAVs), saying that most of the market value today lies in military applications, both for electric and - the big money - non-electric versions. Nonetheless, small UAVs are increasing in sales fastest and that is primarily down to non-military applications. From 2026, civil uses will greatly exceed military in market value. The report forecasts it all but concentrates o
    Read More
  • Investment and innovation the future of ITS
    January 31, 2012
    Cisco's Paul Brubaker, former administrator of the US Department of Transportation's (USDOT's) Research and Innovative Technology Administration (RITA), takes a look at how the ITS sector is starting to attract the attention of major corporations and what this will mean for intelligent transportation in the coming years
    Read More
  • Redflex installs the first point to point system in South Australia
    July 7, 2014
    Following the successful rollout of average speed enforcement systems on four zones of Victoria’s Peninsula Link and up to eight zones of the Hume Highway, together with 37 sites in New South Wales, Redflex has now implemented next generation average speed enforcement systems on Port Wakefield Road and Dukes Highway in South Australia. Two RedflexPoint-to-point cameras are now providing average speed enforcement on two major carriageways leading into the city of Adelaide; in both directions on the 13 kil
    Read More

Highlighted Content