Road Safety Market by Solution, by Service and by Region - Global Forecast to 2020

Road Safety Market by Solution (Red Light Enforcement, Speed Enforcement, Incident Detection Systems, Bus Lane Compliance, Automatic License Plate Recognition), by Service, by Region - Global Forecast to 2020

Released On 21st January, 2016

“The increase in road fatality rate will drive the road safety market”

The road safety market size is expected to grow from USD 2.35 billion in 2015 to USD 3.63 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.1%. Major factors contributing to the growth of road safety market are- increasing road accident/fatality rates and growing government regulations and standards for road safety across the globe.

“Automatic license plate recognition solution to gain maximum traction during the forecast period”

The red light enforcement solution is estimated to contribute the largest market share duing the forecast period. Furthermore, due to rise in demand from traffic enforcement, detection, and prevention, automatic license plate recognition solution is expected to gain traction and would grow at the highest CAGR in the next five years. The consulting and system integration services is expected to contribute the largest market share in the road safety market and is also expected to grow at the highest rate from 2015 to 2020.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is as follows:

• By Company Type: Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%

• By Designation: C level – 60%, Director level – 25%, Others – 15%

• By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%

With the rise in demand for advanced infrastructure development such as Smart City initiatives and new technologies such as driver assistance systems, vehicle lane enforcement systems, incident response systems, automatic...