Road Safety Market Comprehensive Analysis and Future Estimations 2026
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. Rapid urbanization and increasing number of vehicle,road facilities and government initiatives to prevemt road accidents.
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Top Key Players
Key and innovative vendors in the Road Safety market are JENOPTIK (Germany), Kapsch TrafficCom (Austria), Sensys Gatso Group (Sweden), IDEMIA (France), Teledyne FLIR (US), Motorola Solutions (US), Verra Mobility (US), SWARCO (Austria), Siemens (Germany), Cubic Corporation (US), Conduent (US), VITRONIC (Germany), Dahua Technology (China), Laser Technology (US), Traffic Management Technology (South Africa), Truvelo (UK), Kria (Italy), Syntell (South Africa), Clearview Intelligence (UK), Simicon (Russia), FRED Engineering (Italy), Kodiak Robotics (US), Humanising Autonomy (UK), Vebit AI (US), Connected Wise LLC (US), Saferoad (Germany), LiveRoad Analytics (US).
Enforcement solution to grow at the highest market share during the forecast period.
Road safety enforcement solutions help the police and related authorities to enforce traffic law and perform traffic surveillance to improve road safety and increase public safety. Compliance through enforcement has conventionally been the responsibility of the local police; however, the sheer scale of road usage increases the need to detect the vast majority of offenses using modern electronic technologies that are more efficient than the previous methods of road traffic enforcement. Enforcement solutions, comprising hardware (sensors, cameras, displays, and radars) and software, are vital for road safety.
Incident detection and response solution segment is expected to grow at a higher CAGR during the forecast period.
The incident detection system comprises cameras, fire, and smoke detecting alarms, and communication networks that are connected to control room systems. The systems report obstacles, such as stopped vehicles, traffic slowdown, traffic congestion, wrong way vehicle entry, pedestrian movement on the road, loss of visibility, and debris on the road. Incident detection systems have the ability to identify and respond quickly to incidents on roadways and in tunnels. The systems also detect a stopped vehicle in congested traffic by distinguishing it from a vehicle that has temporarily stopped. On detection, these systems communicate with the chief traffic controller who can then take measures to warn the incoming traffic or even shut down the location. The incident detection and response solution also automatically detects an occurrence/incident and brings it to the attention of a manual operator in the control room or executes a pre-defined response to deal with the situation. In tunnels, real-time detection through various cameras triggers an alarm before there is any effect on the flow of traffic. Through real-time analysis of camera images, all types of incidents, including fire, are detected within seconds. Thus, fast and efficient responses to an incident are the result of several elements put together. For example, FLIR traffic cameras and sensors can reliably detect incidents—including collisions, stopped vehicles, and wrong-way drivers—in challenging lighting and weather conditions. FLIR imagers also monitor differing levels of traffic flow and detect fires in tunnels long before traditional sensors activate.
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North America region to record the highest market share in the Road Safety market.
North America is highest market share in the Road Safety market . In 2020, North America accounted for the majority of the road safety market. In terms of technical acceptance and infrastructure development, it is the most advanced region. The US has installed some of the most advanced systems to manage and monitor road safety and heavy traffic. Various government and law enforcement agencies in the US and Canada are working to improve security infrastructure and minimize traffic deaths.
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 29)
1.1 INTRODUCTION TO COVID-19
1.2 COVID-19 HEALTH ASSESSMENT
FIGURE 1 COVID-19: GLOBAL PROPAGATION
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
1.3 COVID-19 ECONOMIC ASSESSMENT
FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
1.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
FIGURE 4 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
1.4 OBJECTIVES OF THE STUDY
1.5 MARKET DEFINITION
1.5.1 INCLUSIONS AND EXCLUSIONS
1.6 MARKET SCOPE
1.6.1 MARKET SEGMENTATION
1.6.2 REGIONAL SCOPE
1.6.3 YEARS CONSIDERED FOR THE STUDY
1.7 CURRENCY CONSIDERED
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2018–2020
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
1.10 GLOBAL TRAFFIC INDEX
TABLE 2 TOP 10 GLOBALLY CONGESTED CITIES
2 RESEARCH METHODOLOGY (Page No. - 39)
2.1 RESEARCH DATA
FIGURE 6 ROAD SAFETY MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakup of primary profiles
2.1.2.2 Key industry insights
2.2 MARKET BREAKUP AND DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 1 (SUPPLY SIDE): REVENUE OF OFFERINGS IN THE ROAD SAFETY MARKET
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2 - BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL SOLUTIONS/SERVICES IN THE ROAD SAFETY MARKET
FIGURE 9 ROAD SAFETY MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
2.3.1 TOP-DOWN APPROACH
2.3.2 BOTTOM-UP APPROACH
2.4 MARKET FORECAST
TABLE 3 FACTORS ANALYSIS
2.5 ASSUMPTIONS FOR THE STUDY
TABLE 4 ASSUMPTIONS FOR THE STUDY
2.6 LIMITATIONS OF THE STUDY
3 EXECUTIVE SUMMARY (Page No. - 47)
TABLE 5 ROAD SAFETY MARKET SIZE AND GROWTH RATE, 2016–2020 (USD MILLION, Y-O-Y %)
TABLE 6 ROAD SAFETY MARKET SIZE AND GROWTH RATE, 2021–2026 (USD MILLION, Y-O-Y %)
FIGURE 10 ROAD SAFETY MARKET SIZE, 2021–2026
FIGURE 11 FASTEST-GROWING SEGMENTS IN THE ROAD SAFETY MARKET DURING 2021–2026
FIGURE 12 ROAD SAFETY: REGIONAL MARKET SCENARIO
4 PREMIUM INSIGHTS (Page No. - 51)
4.1 BRIEF OVERVIEW OF THE ROAD SAFETY MARKET
FIGURE 13 RISING COST OF COMPLIANCE IN ROAD SAFETY TO DRIVE THE GLOBAL ROAD SAFETY MARKET
4.2 ROAD SAFETY MARKET SHARE, BY COMPONENT
FIGURE 14 SOLUTIONS SEGMENT TO HOLD A LARGER MARKET SHARE IN 2021
4.3 ROAD SAFETY MARKET SHARE, BY REGION
FIGURE 15 NORTH AMERICA TO HOLD THE LARGEST MARKET SHARE IN 2021
4.4 ROAD SAFETY MARKET INVESTMENT SCENARIO (2021–2026)
FIGURE 16 ASIA PACIFIC TO EMERGE AS THE BEST MARKET TO INVEST DURING THE FORECAST PERIOD
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