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Road Safety Market Is Projected To Reach At An Exponential Revenue Of $5.8 Billion By The End Of 2027 | Jenoptik, Kapsch TraficCom, IDEMIA, VITRONIC, Redflex Holdings

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Road Safety Market Is Projected To Reach At An Exponential Revenue Of $5.8 Billion By The End Of 2027 | Jenoptik, Kapsch TraficCom, IDEMIA, VITRONIC, Redflex Holdings

December 08
05:28 2020
Road Safety Market Is Projected To Reach At An Exponential Revenue Of $5.8 Billion By The End Of 2027 | Jenoptik, Kapsch TraficCom, IDEMIA, VITRONIC, Redflex Holdings

Grand View Research, Inc. – Market Research And Consulting.
Road Safety Market Size, Share & Trends Analysis Report By Solution (Red Light & Speed Enforcement, Incident Detection & Response, ANPR/ALPR), By Service (Professional, Managed), By Region, And Segment Forecasts, 2020 – 2027

The global road safety market size is expected to reach USD 5.8 billion by 2027, expanding at a CAGR of 11.2% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. An increasing number of road accidents across the world has resulted in an urgent need for precautionary measures and solutions, positively impacting the market growth. Additionally, increased government spending on road infrastructure development to enhance the mobility environment is expected to upkeep the demand for traffic monitoring solutions and services.

Implementation of traffic safety enforcement solutions, and corresponding services such as installation, system integration, support and maintenance, and monitoring and training, has grown in recent years owing to increase in crime rate and occurrence of natural disasters. These solutions can be deployed in existing or newer infrastructure. Another factor driving the market is the increasing adoption of consulting services offered by safety solution providers in order to simplify the complexities of existing infrastructure. For instance, Jenoptik offers support and maintenance services along with an online platform in order to offer 24/7 support.

In Europe, the market held a substantial revenue share in 2019 owing to numerous government initiatives aimed at the development of safer streets. The European Union has adopted Vision Zero and Safe System approach to eliminate accidents and fatalities. Although in Asia Pacific, the market held a modest revenue share in 2019 and is expected to exhibit the fastest growth over the forecast years owing to increasing spending on infrastructure and soaring number of commuters.

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Europe road safety market size, by service, 2016 - 2027 (USD Million)


Road Safety Market Report Highlights

  • The market has been gaining traction owing to the soaring number of commuters across numerous cities, which has resulted in increased traffic and congestion
  • The Automatic Number/License Plate Recognition (ANPR/ALPR) segment is anticipated to record healthy growth over the forecast period owing to increasing adoption of this solution to improve security and safety
  • The professional services segment is anticipated to register a CAGR of 11.6% from 2020 to 2027. Services such as consulting, installation, maintenance, and repair are imperative for all traffic monitoring solutions
  • Need to improve existing road infrastructure for enhanced safety and implementation of smart city initiatives by several governments in the region are primary factors driving the market.


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Global road safety market share, by solution, 2019 (%)


Road Safety Market Segmentation

Grand View Research has segmented the global road safety market on the basis of solution, service, and region:

Road Safety Solution Outlook (Revenue, USD Million, 2016 – 2027)

  • Red Light & Speed Enforcement
  • Incident Detection & Response
  • ANPR/ALPR
  • Others

Road Safety Service Outlook (Revenue, USD Million, 2016 – 2027)

  • Professional Services
  • Managed Services

Key Topic Covered

Chapter 1. Methodology and Scope
                  1.1. Research Methodology
                  1.2. Research Scope & Assumptions
                  1.3. List of Data Sources
                  1.4. List of Abbreviations
Chapter 2. Executive Summary
                  2.1. Road Safety Market – Industry Snapshot & Key Buying Criteria, 2016 – 2027
                  2.2. Road Safety Market, 2016-2027
Chapter 3. Road Safety Industry Outlook
                  3.1. Market Segmentation
                  3.2. Value Chain Analysis
                  3.3. Market Dynamics
                      3.3.1. Market driver analysis
                      3.3.2. Market restraint/challenge analysis
                      3.3.3. Market opportunity analysis
                  3.4. Penetration & Growth Prospects Mapping
                  3.5. Industry Analysis – Porter’s Five Force Analysis
                  3.6. PEST Analysis
                  3.7. Technology Trend Analysis
                  3.8. Key Company Ranking Analysis, 2019
Chapter 4. Road Safety Market: Solution Outlook
                  4.1. Road Safety Market Estimates & Forecasts, By Solution, 2019 & 2027 (USD Million)
                  4.2. Red Light & Speed Enforcement
                      4.2.1. Market estimates and forecasts, 2016 – 2027 (USD Million)
                      4.2.2. Market estimates and forecasts, by region, 2016 – 2027 (USD Million)
                  4.3. Incident Detection & Response
                      4.3.1. Market estimates and forecasts, 2016 – 2027 (USD Million)
                      4.3.2. Market estimates and forecasts, by region, 2016 – 2027 (USD Million)
                  4.4. ANPR/ALPR
                      4.4.1. Market estimates and forecasts, 2016 – 2027 (USD Million)
                      4.4.2. Market estimates and forecasts, by region, 2016 – 2027 (USD Million)
                  4.5. Others
                      4.5.1. Market estimates and forecasts, 2016 – 2027 (USD Million)
                      4.5.2. Market estimates and forecasts, by region, 2016 – 2027 (USD Million)

Continue…

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/road-safety-market

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