According to report “Road Safety Market by Solution (Red Light Enforcement, Speed Enforcement, Incident Detection System, Bus Lane Compliance, and Automatic License Plate Recognition), Service (Consulting & System Integration and Risk Assessment) – Global Forecast to 2021″, The road safety market is estimated to grow from USD 2.60 Billion in 2016 to USD 4.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.
Browse 45 market data tables and 47 figures spread through 114 pages and in-depth TOC on “Road Safety Market”
Early buyers will receive 10% customization on this report.
The major forces driving the road safety market include increase in mobility and the associated demands on transportation systems, increase in urbanization, increase in road accidents/fatality rate, and growing government regulations for road safety.
Request Sample Pages – http://www.marketsandmarkets.com/requestsample.asp?id=93636585
Red light enforcement is expected to be the largest segment terms of market size in the road safety market
Red light enforcement is one of the most important safety control systems in the traffic management. This system is easy and cost-efficient compared to other safety devices. Also, with the advent of smart cities and safety initiatives, governments of different countries are installing red light enforcement systems. Hence, this segment is expected to dominate the road safety solutions market.
Professional services segment is expected to be the largest segment in terms of market size in the road safety services market during the forecast period
Professional services include consulting and system integration; training, support, and maintenance; and risk assessment and analysis. Professional services are useful for enhancing business productivity, business efficiency, operational improvements, quality of service, and prudent financial management. All these factors are fueling the adoption of professional services and hence this segment is expected to be the largest segment in road safety services market.
North America is expected to be the biggest contributor, followed by Europe, to the road safety market
The North American region is projected to dominate the road safety market during the forecast period. The driving factors for this growth are large scale investments in road safety systems and solutions, government initiatives, and early adoption of technology. Europe is the second highest contributor to the road safety market owing to strict regulations and presence of a large number of original equipment manufacturers and solution providers.
In addition, the road safety market remains competitive with the presence of a large number of vendors such as Jenoptik AG, Kapsch TrafficCom AG, Sensys Gatso Group AB., Redflex Holdings Limited, 3M, FLIR Systems, Inc., Motorola Solutions, Swarco AG, American Traffic Solutions, and Information Engineering Group, Inc. The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and new product developments, adopted by major players to increase their market share.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Company Name: MarketsandMarkets
Contact Person: Rohan
Email: email@example.com, firstname.lastname@example.org
Address:701 Pike Street, Suite 2175
Country: United States