The global road safety market is anticipated to grow at a CAGR of around 12.0% during the forecast period 2020 to 2028 and to reach around US$ 7.7 Bn by 2028.
Market Dynamics
Rising highway safety concern among the government of developed and developing countries and approach towards lowering the road accidents through deployment of enhanced smart solutions are major factors expected to drive the growth of global road safety market. Noticeable increase in the number of accidents cases in hospitals and rising awareness among consumers related to safety is resulting in demand for road safety solutions. According to U.S. Department of Transportation's Fatality Analysis Reporting System (FARS), around 33,244 motor accidents occurred in 2019, in which 36,096 people died. These accidents resulted in 1.11 death per 100 million miles travelled and 11 deaths per 100,000 people. Enterprises are investing high for R&D activities and approach towards new service & product launch is augmenting the road safety market growth.
In 2021, Lindsay Corporation, global provider of innovative infrastructure & technology solutions launched “RoadConnect.” The product is cloud-based remote asset monitoring platform for the transportation industry with the focus to improve operational efficiency and overall road safety.
In 2021, eSentire, launched emergency incident response, digital forensics investigations and security incident response planning services with the focus to enhance its product portfolio. The service launch is expected to attract new customers and increase the revenue share.
In 2021, Motorola Solutions, Inc, a global electronic company launched video-as-a-service product. The service caters to law enforcement agencies by combined body-worn cameras, cloud-based support and digital evidence management software. The launch is expected to help the company enhance the business.
Factors such as technical glitches and lack of required infrastructure for supporting the advanced smart devices are factors expected to hamper the growth of global road safety market. In addition, cost-effective product launch by regional players is expected to challenge the growth of target market. However, increasing investment by major players, changing government regulations and new product launches by enterprises are factors expected to create new opportunities for players operating in the road safety market over the forecast period. In addition, focus towards enhancing the business through strategic partnership is expected to support the revenue transaction of target market.
Segment Analysis by Region
The market in Asia Pacific is expected to witness faster growth in the target market due to increasing government spending on development of smart transportation system. Government of developing countries is spending high on enhancing the transportation sector infrastructure. They are approaching towards building roads with smart technologies with the focus to collect & analyze data to improve traffic management and cater the transportation needs on long term basis. Presence of large number of electronic manufacture operating in the country and introduction of new sensors is expected to support the market growth in this region. Technologies such as IoT sensors, cameras, radar, etc. are witnessing rapid development in their adoption to streamline the traffic and improve the congestion to avoid accidents through real time analysis is gaining importance. Introduction of new business policies by the government and the emergence of small & mid-size enterprises with innovative solutions is expected to boost the market growth.
Competitive Landscape
The global road safety market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market
|
Global Road Safety Market
|
|
Analysis Period
|
2017 – 2028
|
|
Base Year
|
2020
|
|
Forecast Data
|
2021 – 2028
|
|
Market Stratification
|
Component, Technology, Service, and Geography
|
|
Regional Scope
|
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|
|
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling,
Regulation Analysis
|
Road Safety Market Segment Analysis, 2020
The global road safety market is segmented into component, technology, and service. The technology segment is divided into surveillance, sensors-based devices, radar, and analytics. Among technology the sensors-based devices segment is expected to account for major revenue share in the global road safety market. The component segment is bifurcated into solutions and services. The component segment is bifurcated into solutions and services. Players profiled in the global road safety market are JENOPTIK AG, INFORMATION ENGINEERING GROUP INC., Sensys SWARCO, Syntell (Pty) Ltd, Gatso Group AB, Kapsch TrafficCom AG, FLIR Systems, Inc., Redflex Holdings, and Cubic Corporation.
Market Segmentation
Market By Component
Solutions
Services
Market By Service
Professional Services
Managed Services
Market By Technology
Surveillance
Sensors-Based Devices
Radar
Analytics
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
CHAPTER 1. Industry Overview of Road Safety
1.1. Definition and Scope
1.1.1. Definition of Road Safety
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Road Safety Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Road Safety Market By Component
1.2.3. Road Safety Market By Service
1.2.4. Road Safety Market By Technology
1.2.5. Road Safety Market by Regions
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restrain 1
3.2.2. Restrain 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Road Safety Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Road Safety Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Regulatory Compliance
3.9. Competitive Landscape, 2020
3.9.1. Player Positioning Analysis
3.9.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Road Safety Market By Component
4.1. Introduction
4.2. Road Safety Revenue By Component
4.2.1. Road Safety Revenue (US$ Mn) and Forecast, By Component , 2017-2028
4.2.2. Solutions
4.2.2.1. Solutions Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
4.2.3. Services
4.2.3.1. Services Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
CHAPTER 5. Road Safety Market Revenue By Service
5.1. Introduction
5.2. Road Safety Revenue (US$ Mn) By Service
5.2.1. Road Safety Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
5.2.2. Professional Services
5.2.2.1. Professional Services Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
5.2.3. Managed Services
5.2.3.1. Managed Services Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
CHAPTER 6. Road Safety Market By Technology
6.1. Introduction
6.2. Road Safety Revenue (US$ Mn) By Technology
6.2.1. Road Safety Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
6.2.2. Surveillance
6.2.2.1. Surveillance Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
6.2.3. Sensors-Based Devices
6.2.3.1. Sensors-Based Devices Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
6.2.4. Radar
6.2.4.1. Radar Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
6.2.5. Analytics
6.2.5.1. Analytics Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
CHAPTER 7. North America Road Safety Market By Country
7.1. North America Road Safety Overview
7.2. U.S.
7.2.1. U.S. Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017-2028
7.2.2. U.S. Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017-2028
7.2.3. U.S. Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017-2028
7.3. Canada
7.3.1. Canada Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017-2028
7.3.2. Canada Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017-2028
7.3.3. Canada Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017-2028
7.4. North America PEST Analysis
CHAPTER 8. Europe Road Safety Market By Country
8.1. Europe Road Safety Market Overview
8.2. U.K.
8.2.1. U.K. Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017-2028
8.2.2. U.K. Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017-2028
8.2.3. U.K. Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017-2028
8.3. Germany
8.3.1. Germany Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017-2028
8.3.2. Germany Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017-2028
8.3.3. Germany Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017-2028
8.4. France
8.4.1. France Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017-2028
8.4.2. France Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017-2028
8.4.3. France Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017-2028
8.5. Spain
8.5.1. Spain Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017-2028
8.5.2. Spain Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017-2028
8.5.3. Spain Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017-2028
8.6. Rest of Europe
8.6.1. Rest of Europe Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017-2028
8.6.2. Rest of Europe Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017-2028
8.6.3. Rest of Europe Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017-2028
8.7. Europe PEST Analysis
CHAPTER 9. Asia Pacific Road Safety Market By Country
9.1. Asia Pacific Road Safety Market Overview
9.2. China
9.2.1. China Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
9.2.2. China Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
9.2.3. China Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
9.3. Japan
9.3.1. Japan Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
9.3.2. Japan Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
9.3.3. Japan Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
9.4. India
9.4.1. India Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
9.4.2. India Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
9.4.3. India Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
9.5. Australia
9.5.1. Australia Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
9.5.2. Australia Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
9.5.3. Australia Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
9.6. South Korea
9.6.1. South Korea Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
9.6.2. South Korea Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
9.6.3. South Korea Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
9.7. Rest of Asia-Pacific
9.7.1. Rest of Asia-Pacific Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
9.7.2. Rest of Asia-Pacific Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
9.7.3. Rest of Asia-Pacific Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
9.8. Asia Pacific PEST Analysis
CHAPTER 10. Latin America Road Safety Market By Country
10.1. Latin America Road Safety Market Overview
10.2. Brazil
10.2.1. Brazil Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
10.2.2. Brazil Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
10.2.3. Brazil Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
10.3. Mexico
10.3.1. Mexico Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
10.3.2. Mexico Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
10.3.3. Mexico Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
10.4. Rest of Latin America
10.4.1. Rest of Latin America Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
10.4.2. Rest of Latin America Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
CHAPTER 11. Middle East & Africa Road Safety Market By Country
11.1. Middle East & Africa Road Safety Market Overview
11.2. Saudi Arabia
11.2.1. Saudi Arabia Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
11.2.2. Saudi Arabia Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
11.2.3. Saudi Arabia Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
11.3. UAE
11.3.1. UAE Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
11.3.2. UAE Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
11.3.3. UAE Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
11.4. Rest of Middle East & Africa
11.4.1. Rest of Middle East & Africa Road Safety Market Revenue (US$ Mn) and Forecast By Component , 2017 - 2028
11.4.2. Rest of Middle East & Africa Road Safety Market Revenue (US$ Mn) and Forecast By Service , 2017 - 2028
11.4.3. Rest of Middle East & Africa Road Safety Market Revenue (US$ Mn) and Forecast By Technology, 2017 - 2028
CHAPTER 12. PLAYER ANALYSIS OF ROAD SAFETY
12.1. Road Safety Market Company Share Analysis
12.2. Competition Matrix
12.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
12.2.2. New Product Launches and Product Enhancements
12.2.3. Mergers And Acquisition In Global Road Safety Market
CHAPTER 13. COMPANY PROFILE
13.1. JENOPTIK AG
13.1.1. Company Snapshot
13.1.2. Business Overview
13.1.3. Financial Overview
13.1.3.1. Revenue (US$ Mn), 2020
13.1.3.2. JENOPTIK AG 2020 Road Safety Business Regional Distribution
13.1.4. Product/ Service and Specification
13.1.5. Recent Developments & Business Strategy
13.2. Sensys Gatso Group AB
13.3. SWARCO
13.4. INFORMATION ENGINEERING GROUP INC.
13.5. Syntell (Pty) Ltd
13.6. Kapsch TrafficCom AG
13.7. Redflex Holdings
13.8. FLIR Systems, Inc.
13.9. Cubic Corporation
13.10. Others
