DUBLIN--(BUSINESS WIRE)--The "Road Safety Market by Solution (Red Light, Speed, Bus Lane & Section Enforcement, ALPR/ANPR, Incident Detection & Response), Service (Consulting & Training, Support & Maintenance, and Managed), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The road safety market size is expected to grow from USD 2.76 billion in 2018 to USD 4.41 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period.
Rapid urbanization, increasing number of vehicles across the globe, rising need for road safety owing to increasing number of road fatalities, and stringent government regulations to make safer road infrastructure are some of the major factors to drive the market. However, lack of standardized and uniform technology may restraint the market growth.
The incident detection and response solution segment is expected to grow at a higher rate during the forecast period. The incident detection and response solution enables the detection of obstacles, such as stopped vehicles, traffic slowdown, traffic congestion, wrong way vehicle entry, pedestrian movement on the road, loss of visibility in the roads, and debris on the road.
The systems also detect a stopped vehicle in congested traffic by distinguishing it from a vehicle that has temporarily stopped. The incident detection and response solution also automatically detects an 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. The growth of the segment is driven by increasing number of road fatalities, vehicles, and traffic congestion.
The services segment is expected to grow at a higher rate during the forecast period. An increasing adoption rate of road safety solutions is expected to drive the demand for the associated services. Road safety services are majorly deployed to enhance the existing infrastructure and also integrate the latest road safety solution with the existing one. Services include professional and managed services.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Road Safety, By Component
7 Road Safety Market, By Region
8 Competitive Landscape
9 Company Profiles
- American Traffic Solutions
- Clearview Intelligence
- Cubic Corporation
- Dahua Technology
- Flir Systems
- Information Engineers Group
- Kapsch Trafficcom
- Laser Technology
- MotoRoLA Solutions
- Redflex Holdings
- Sensys Gatso Group
- Traffic Management Technologies
For more information about this report visit https://www.researchandmarkets.com/research/c8wzfd/road_safety?w=4