Road Safety Market Size - By Component (Solutions, Services), Application & Global Forecast, 2023

Description

List of Tables

The global road safety market is expected to witness a transformative surge at over 7% though 2032, fuelled by an urgent need for advanced solutions to mitigate accidents and enhance transportation safety.

According to the WHO report in 2023, statistics reveal that approximately 1.19 million lives are lost annually due to road traffic crashes. Adding to this alarming trend, road traffic injuries stand as the foremost cause of mortality among children and youth.

The integration of Artificial Intelligence (AI), Internet of Things (IoT), and advanced sensors in vehicles and road infrastructure contributes significantly to accident prevention and driver assistance. Moreover, the rise of connected and autonomous vehicles, coupled with the development of smart cities, underscores a paradigm shift towards proactive safety measures, shaping the industry dynamics.

The overall road safety market is classified based on component, application, and region.

The incident detection segment is poised to witness substantial gains during 2023-2032, owing to focus on prompt reporting and efficient response. Real-time incident detection systems equipped with AI and machine learning algorithms enable prompt identification of accidents, hazards, and traffic anomalies. These systems, often integrated with surveillance cameras and traffic management centres, empower authorities to respond swiftly, reducing emergency response times and averting potential crises.

The highway segment is poised to expand substantially through 2032 as highways become vital arteries of transportation, implementing cutting-edge safety measures is paramount. Advanced driver assistance systems, smart signage, and predictive analytics help in creating safer highway environments. The focus on high-speed roadways addresses the unique challenges posed by rapid traffic flow and diverse driving conditions.

Asia Pacific road safety market is poised to witness substantial gains by 2032 driven by the swift urbanization and infrastructure development. Governments and industry stakeholders in countries like China, India, and Japan are investing significantly in modernizing transportation infrastructure and implementing intelligent safety solutions. The rising road crash mortality rate, along with the emphasis on adopting innovations that redefine road safety standards will stimulate the regional industry outlook.

Product Code: 6834

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Road safety market 360 degree synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Application trends

Chapter 3 Road Safety Industry Insights

3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
- 3.8.1 Partnership/Collaboration
- 3.8.2 Merger/Acquisition
- 3.8.3 Investment
- 3.8.4 Level of autonomy launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Rising need to prevent traffic congestion
  - 3.10.1.2 Increasing government regulations & initiatives
  - 3.10.1.3 Development of sophisticated safety systems for vehicles
  - 3.10.1.4 The proliferation of autonomous driving systems
  - 3.10.1.5 Growing number of road accidents & fatalities
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 Insufficient government funding
  - 3.10.2.2 Data breaching & privacy concerns
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 Autofit GmbH
- 4.3.2 ENERPAC
- 4.3.3 ESCO
- 4.3.4 Horizon Global
- 4.3.5 SPX Flow Inc.
- 4.3.6 Sunex Tools.
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Road safety Market Estimates & Forecast, By Component (Revenue)

5.1 Key trends, by component
5.2 Solution
- 5.2.1 Enforcement
  - 5.2.1.1 Red light enforcement
  - 5.2.1.2 Speed enforcement
  - 5.2.1.3 Bus lane enforcement
  - 5.2.1.4 Section enforcement
- 5.2.2 Automatic License plate recognition (ALPR/ANPR)
- 5.2.3 Incident Detection
- 5.2.4 Backoffice
- 5.2.5 Intelligent transport system
- 5.2.6 Traffic Management System
- 5.2.7 Others
5.3 Services
- 5.3.1 Consulting
- 5.3.2 Support & Maintenance
- 5.3.3 Integration
- 5.3.4 Deployment

Chapter 6 Road safety Market Estimates & Forecast, By Application (Revenue)

6.1 Key trends, by application
6.2 Urban
6.3 Highway
6.4 Rural
6.5 Work zone safety

Chapter 7 Road safety Market Estimates & Forecast, By Region (Revenue)

7.1 Key trends, by region
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 Germany
- 7.3.2 U.K.
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Russia
- 7.3.6 Spain
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 ANZ
- 7.4.6 Singapore
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
- 7.5.4 Colombia
7.6 MEA
- 7.6.1 UAE
- 7.6.2 South Africa
- 7.6.3 Saudi Arabia
- 7.6.4 Israel

Chapter 8 Company Profiles

8.1 3M
8.2 Axis Communications
8.3 eTrans Solutions Pvt. Ltd.
8.4 FLIR Systems, Inc.
8.5 Honeywell
8.6 Information Engineering Group Inc.
8.7 Iteris
8.8 Jenoptik AG.
8.9 Jenoptik Traffic Solutions
8.10 Kapsch TrafficCom AG.
8.11 Miovision
8.12 Pelco
8.13 Redflex Holdings
8.14 Sensys Gatso Group AB
8.15 Siemens Mobility
8.16 SmartDrive Systems
8.17 Swarco AG.
8.18 TomTom
8.19 Trimble
8.20 TUV SUD
8.21 Verra Mobility
8.22 WSP Global