Road Safety Market Pit Falls, Present Scenario and Growth Prospects from 2017 to 2024

1
Road Safety Market Drivers of Growth Analyzed in
a New Research Report by 2024 Global Market
Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Regional Analysis of Road Safety Market

• North America dominates the road safety market
  owing to its technological advancements,
  large-scale investment in road safety and
  security solutions, advanced infrastructure, and
  the presence of many service providers. The
  region is among the early adopters of the latest
  technology, giving it an edge over the other
  regions. Europe is the second largest region in
  the road safety market owing to the presence of a
  large number of service providers and
  manufacturers.
• Asia Pacific is the fastest growing region in the
  road safety market due to the economic growth and
  various government initiatives to support road
  safety measures. Countries, such as India, China,
  and Australia, have adopted various strategies to
  introduce changes in the implementation and
  planning of security measures for optimizing the
  roadways security.

3

• Application Analysis of Road Safety Market
• The road safety market can be segmented on the
  basis of solutions, services, and technology.
  Based on solutions, the road safety market is
  sub-segmented into automatic license plate
  detection, bus lane compliance, red light
  enforcement, speed enforcement, and incident
  detection system. Red light enforcement dominates
  the industry as it is one of the safest control
  systems, easy-to-install, and is also
  cost-effective. Furthermore, governments of
  various countries are adopting these services
  owing to the rise of smart cities and safety
  initiatives.
• The adoption of red light enforcement has
  resulted in the reduction in the number of
  collisions and right-angle crashes, which augment
  the industry growth. The automatic license plate
  detection is growing rapidly owing to the need
  for traffic enforcement and accident prevention.
  These automatic license plates are easy to
  install and provide facilities such as video
  cameras, over speed detection, and alarm system.

4
Competitive Market Share of Road Safety Market

• The main players operating in the road safety
  market include Motorola Solutions, American
  Traffic Solutions, Rad Data Communication,
  Jenoptik, Kapsch AG, Swarco AG, Redflex, Thales,
  Tyco, Alcatel-Lucent, and Siemens AG. New product
  developments, mergers acquisitions, and
  partnerships are the strategies adopted by these
  key players to emerge strongly in the road safety
  market.
• They provide facilities such as video
  surveillance, real-time traffic flow systems, and
  communication systems for maximizing the road
  safety.

5

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