Dublin, March 14, 2022 (GLOBE NEWSWIRE) -- The "Global Road Safety Market by Solution (Red Light, Speed, Bus Lane, Section Enforcement, and ALPR/ANPR), Service (Consulting and Training, System Integration and Deployment, and Support and Maintenance) and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The publisher forecasts the global Road Safety Market size is expected to grow USD 3.7 billion in 2021 to USD 5.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period. The increasing number of road accidents and fatalities drives the need for the deployment of road safety solutions.
By Component, the services to record a larger market share during the forecast period
The road safety market is segmented into solutions and services. Various parameters have been identified that contribute to the overall growth of the road safety market. Road safety solutions and services are being applied in many industry verticals across regions. Apart from the various parameters that contribute to the market growth, the other factors that are expected to drive the market growth include the expanding urbanization, an increasing number of vehicles and mobility, rise in government initiatives, and technological evolution within infrastructures.
By Region, Asia Pacific to grow at the highest CAGR during the forecast period
The Asia Pacific is home to many developing economies, and many countries in this region are adopting new technologies to comply with procedures for increasing the efficiency of financial systems. The key countries include Australia, Japan, Singapore, India, China, and New Zealand. The region is expected to witness the fast-paced adoption of road safety software.
The Asia Pacific is estimated to be the fastest-growing Road safety market owing to the rise in the adoption of new technologies, high investments for digital transformation, the rapid expansion of domestic enterprises, extensive development of infrastructures, and increasing GDP of various countries. Rapidly growing economies, such as China, Japan, Singapore, and India, are implementing road safety solutions across multiple business processes to provide effective solutions.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Road Safety Market
4.2 Market Share, by Component
4.3 Market Share, by Region
4.4 Market Investment Scenario (2021-2026)
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Number of Vehicles
5.2.1.2 Enforcement to Improve Compliance with Governments
5.2.1.3 The Adoption of Digitalization and Technologies in the Market
5.2.1.4 Government Initiatives for Enhancing Road Safety
5.2.2 Restraints
5.2.2.1 Lack of Standardized and Uniform Technologies
5.2.3 Opportunities
5.2.3.1 Adoption of Automated Vehicles for Safety
5.2.3.2 Improved Intelligent Transportation Systems for Road Safety
5.2.4 Challenges
5.2.4.1 Cybersecurity and Threats in Road Safety Data
5.2.4.2 Lack of Knowledge Among People About IoT and Smart Cities
5.3 COVID-19 Market Outlook for Road Safety
5.3.1 Cumulative Growth Analysis
5.4 Regulatory Impact
5.5 Industry Trends
5.5.1 Use Cases
5.5.1.1 Use Case 1: Siemens Helped Yunex Traffic for Adaptive Traffic Control and Management, Highway, and Tunnel Automation as Well as Smart Solutions for V2X and Road User Charging (Tolling)
5.5.1.2 Use Case 2: Motorola Solutions Helped Victoria Police with Number Plate Recognition with Anpr Technology
5.5.1.3 Use Case 3: Conduent and Hayden Ai Announced a Technology Partnership to Improve Bus Lane Performance and Traffic Safety
5.5.1.4 Use Case 4: Swarco Road Marking Systems and Isac GmbH Measured the Detectability of Road Markings
5.5.1.5 Use Case 5: Dahua Technology Detects Multiple Traffic Violations and Improves Road Efficiency
5.6 Value Chain Analysis
5.7 Ecosystem
5.8 Patent Analysis
5.9 Pricing Analysis
5.10 Technology Analysis
5.11 Trends and Disruptions Impacting Buyers
5.12 Key Conferences & Events in 2022-2023
5.13 Porter's Five Forces Analysis
6 Road Safety Market, by Component
6.1 Introduction
6.2 Solutions
6.2.1 Enforcement Solution
6.2.1.1 Red Light Enforcement
6.2.1.2 Speed Enforcement
6.2.1.3 Bus Lane Enforcement
6.2.1.4 Section Enforcement
6.2.2 Automatic License Plate Recognition/Automatic Number Plate Recognition
6.2.3 Incident Detection and Response
6.2.4 Others
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting and Training
6.3.1.2 System Integration and Deployment
6.3.1.3 Support and Maintenance
6.3.2 Managed Services
7 Road Safety Market, by Region
8 Competitive Landscape
8.1 Overview
8.2 Market Structure
8.3 Historical Revenue Analysis
8.4 Market Evaluation Framework
8.5 Revenue Analysis of Leading Players
8.6 Ranking of Key Players
8.7 Company Evaluation Matrix
8.7.1 Star
8.7.2 Emerging Leader
8.7.3 Pervasive
8.7.4 Participant
8.8 Product Portfolio Analysis of Major Players
8.9 Competitive Scenario
8.9.1 New Service/Product Launches
8.9.2 Deals
8.10 Startup/Sme Evaluation Matrix
8.10.1 Progressive Companies
8.10.2 Responsive Companies
8.10.3 Dynamic Companies
8.10.4 Starting Blocks
9 Company Profiles
9.1 Major Players
9.1.1 Jenoptik
9.1.2 Kapsch Trafficcom
9.1.3 Sensys Gatso Group
9.1.4 Verra Mobility
9.1.5 Teledyne Flir
9.1.6 Motorola Solutions
9.1.7 Idemia
9.1.8 Swarco
9.1.9 Vitronic
9.1.10 Siemens
9.1.11 Conduent
9.1.12 Cubic Corporation
9.1.13 Dahua Technology
9.2 Other Players
9.2.1 Laser Technology
9.2.2 Traffic Management Technologies
9.2.3 Trifoil
9.2.4 Kria
9.2.5 Syntell
9.2.6 Truvelo
9.2.7 Clearview Intelligence
9.2.8 Simicon
9.2.9 Fred Engineering
9.2.10 Kodiak Robotics
9.2.11 Humanising Autonomy
9.2.12 Vebits Ai
9.2.13 Connected Wise LLC
9.2.14 Saferoad
9.2.15 Liveroad Analytics
10 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/cnfmcc
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