The Road Safety Market was valued at USD 3.05 Bn in 2022 and is expected to reach USD 10.02 Bn by 2030 and grow at a CAGR of 17.2% over the forecast period of 2023-2030.
For roads to be safe, traffic laws and regulations must be followed. This entails driving under the posted speed limit, halting at stop signs and red lights, giving way to oncoming traffic, and maintaining lane discipline. All drivers must have the appropriate instruction and training. This covers both practical car management abilities and theoretical knowledge of traffic laws. Defensive driving practices are frequently covered in driver education programs. Performing routine maintenance on vehicles keeps them in good operating condition. To lessen the likelihood of accidents brought on by mechanical faults, this involves inspecting the brakes, tires, lights, and other crucial components. A well-designed road network with obvious signs and markings can greatly increase traffic safety. This includes maintaining roads properly to avoid risks. Speed has a big part in traffic collisions. Speed limit management and enforcement aid in lowering accident severity and improving drivers' available reaction time. Driving while intoxicated or fatigued, as well as distracted driving (such as texting while driving), are significant factors in collisions. In order to overcome these problems, rigorous enforcement and education are essential. Ensuring walkways, safe crossings, and pedestrian-friendly infrastructure is crucial for safeguarding Pedestrians. It's crucial to inform both drivers and pedestrians of their duties. Particular attention should be paid to the safety of motorcyclists and cyclists.
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Compared to car occupants, they are less protected, making them more susceptible to accidents. To protect passengers in vehicles, particularly young children, seat belt use and the use of child safety seats are essential. By giving accident victims prompt medical attention, an effective emergency response system can save lives. Public awareness campaigns and educational initiatives are essential for encouraging safe driving practices and raising public understanding of issues relating to road safety. Compiling and evaluating data on traffic accidents and the factors that contribute to them enables policymakers to pinpoint problem regions and put forth focused safety measures. Strict law enforcement, including penalties for traffic offenses, can serve as a deterrent and promote adherence to traffic safety regulations. Advancements in automotive safety technology, such as airbags and anti-lock braking systems (ABS),
Driver
The rising cases of road incident
The number of distracted driving incidents has significantly increased as a result of the usage of cell phones and other electronic gadgets while driving. Accidents are more likely to be caused by drivers who are not entirely focused on the road. Excessive speed is a major contributor to accidents. Drivers have less time to react to impediments and shorter stopping distances when they go over the speed limit or drive too quickly for the road conditions. Drunk or drugged driving continues to be a major factor in traffic accidents. Drivers who are intoxicated are more prone to cause accidents because of their slowed reaction times and poor judgment. Drivers who are tired or drowsy are more likely to fall asleep at the wheel or make serious mistakes in judgment.
Restrain
Lack of infrastructure
Opportunity
The rise in advanced technology
The creation of autonomous vehicles—vehicles that can run without a driver—has received a lot of attention. In order to increase safety and decrease accidents brought on by human error, organizations like Tesla, Waymo, and conventional automakers are making significant investments in this technology. ADAS comprises functions including blind-spot monitoring, automated emergency braking, adaptive cruise control, and lane-keeping assistance. These innovations in driving safety are showing up more frequently in contemporary cars. Newer cars come with cutting-edge infotainment systems and are increasingly connected to the internet. This enables functions like real-time traffic information, navigational help, and smartphone connectivity.
Challenge
The high cost of the technologies and the lack of awareness in emerging countries.
Consumer expenditure, including the purchase of new vehicles, often decreases during a recession. The adoption of more modern, safe vehicle technology, like advanced driver assistance systems (ADAS) and electric cars with safety features, may be slowed as a result. Economic downturns can have an impact on the safety of commercial fleets as well as public transportation networks. Cost-cutting initiatives used by struggling businesses may jeopardize safety precautions and vehicle upkeep. During a recession, large-scale road building and extension projects may be delayed or abandoned, which will affect the adoption of contemporary road safety features and technologies. Economic downturns may result in modifications to commuter habits and decreased traffic volumes. Fewer accidents may result from this, but it may also impair the usage and
Impact of Russia Russia-Ukraine War
The conflict between Russia and Ukraine may have a number of direct and indirect effects on the market for road safety, both locally and globally. The complexity and range of these effects might depend on the length and severity of the conflict as well as the particular places affected. Here are some possible impacts on the market for road safety: Road infrastructure, such as highways, bridges, and tunnels, can sustain considerable damage as a result of conflict. By making driving conditions hazardous for drivers and decreasing the effectiveness of safety equipment, this damage can undermine attempts to improve road safety. It can be challenging to perform regular road maintenance and repairs because of the ongoing hostilities and instability. Roads that are not properly maintained can make accidents more likely.
By Solution
Red Light & Speed Enforcement
Incident Detection & Response
Automatic Number/License Plate Recognition
Others
By Service Outlook
Professional Services
Managed Services
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North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Regional Analysis
North America is the region that will hold the highest share because, Road safety is a mature market in North America, with well-established infrastructure, rules, and cutting-edge technology. High adoption rates for autonomous vehicle and advanced driver assistance system (ADAS) technologies. Government initiatives and strict laws for safety help to keep roads safe. Ongoing maintenance and improvement of the road infrastructure.
APAC is the region that will have the highest CAGR growth rate because as economies in nations like China and India expand, concerns about road safety rise. Heavy investment is being made in the development of the infrastructure for roads. While adoption rates for improved safety technologies vary by nation, they are generally increasing. Rapid urbanization presents particular difficulties for road safety.
The major key players are Conduent, Cubic Corporation, Dahua Technology, FLIR Services, IDEMIA, JENOPTIK, KAPSCH TraficCom, Motorola Solutions, Redflex Holdings and others.
Cubic Corporation-Company Financial Analysis
Conduent- The company has taken initiative to highlight the technology solutions for the protection of school children at Florida.
Cubic Corporation- Company has officially announced five-year warranty on new DTECH devices.
Report Attributes | Details |
Market Size in 2022 | US$ 3.05 Bn |
Market Size by 2030 | US$ 10.02 Bn |
CAGR | CAGR of 17.2% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Solution (Red Light & Speed Enforcement, Incident Detection & Response, Automatic Number/License Plate Recognition, Others) • By Service Outlook (Professional Services, Managed Services) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Company Profiles | Conduent, Cubic Corporation, Dahua Technology, FLIR Services, IDEMIA, JENOPTIK, KAPSCH TraficCom, Motorola Solutions, Redflex Holdings |
Key Drivers | • The rising cases of road incident |
Market Opportunities | • The rise in advancement technology |
Ans. The Compound Annual Growth rate for Road Safety Market over the forecast period is 17.2%.
Ans: The Road Safety Market was valued at USD 3.05 Bn in 2022 and is expected to reach USD 10.02 Bn by 2030, and grow at a CAGR of 17.2% over the forecast period of 2023-2030.
Ans. Asia Pacific is the fastest growing region of the Road Safety Market.
The major key players are Conduent, Cubic Corporation, Dahua Technology, FLIR Services, IDEMIA, JENOPTIK, KAPSCH TraficCom, Motorola Solutions, Redflex Holdings and others.
Ans. The key drivers are the rise in advancement technology
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Road Safety Market Segmentation, by Service Outlook
8.1 Red Light & Speed Enforcement
8.2 Red Light & Speed Enforcement
8.3 Incident Detection & Response
8.4 Automatic Number/License Plate Recognition
8.5 Others
9. Road Safety Market Segmentation, by Mechanism
9.1 Professional Services
9.2 Managed Services
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Road Safety Market by Country
10.2.2North America Road Safety Market by Solution
10.2.3 North America Road Safety Market by Service Outlook
10.2.4 USA
10.2.4.1 USA Road Safety Market by Solution
10.2.4.2 USA Road Safety Market by Service Outlook
10.2.5 Canada
10.2.5.1 Canada Road Safety Market by Solution
10.2.5.2 Canada Road Safety Market by Service Outlook
10.2.6 Mexico
10.2.6.1 Mexico Road Safety Market by Raw Technology
10.2.6.2 Mexico Road Safety Market by Service Outlook
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Road Safety Market by Country
10.3.1.2 Eastern Europe Road Safety Market by Solution
10.3.1.3 Eastern Europe Road Safety Market by Service Outlook
10.3.1.4 Poland
10.3.1.4.1 Poland Road Safety Market by Solution
10.3.1.4.2 Poland Road Safety Market by Service Outlook
10.3.1.5 Romania
10.3.1.5.1 Romania Road Safety Market by Solution
10.3.1.5.2 Romania Road Safety Market by Service Outlook
10.3.1.6 Hungary
10.3.1.6.1 Hungary Road Safety Market by Solution
10.3.1.6.2 Hungary Road Safety Market by Service Outlook
10.3.1.7 Turkey
10.3.1.7.1 Turkey Road Safety Market by Solution
10.3.1.7.2 Turkey Road Safety Market by Service Outlook
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Road Safety Market by Solution
10.3.1.8.2 Rest of Eastern Europe Road Safety Market by Service Outlook
10.3.2 Western Europe
10.3.2.1 Western Europe Road Safety Market by Country
10.3.2.2 Western Europe Road Safety Market by Solution
10.3.2.3 Western Europe Road Safety Market by Service Outlook
10.3.2.4 Germany
10.3.2.4.1 Germany Road Safety Market by Solution
10.3.2.4.2 Germany Road Safety Market by Service Outlook
10.3.2.5 France
10.3.2.5.1 France Road Safety Market by Solution
10.3.2.5.2 France Road Safety Market by Service Outlook
10.3.2.6 UK
10.3.2.6.1 UK Road Safety Market by Solution
10.3.2.6.2 UK Road Safety Market by Service Outlook
10.3.2.7 Italy
10.3.2.7.1 Italy Road Safety Market by Solution
10.3.2.7.2 Italy Road Safety Market by Service Outlook
10.3.2.8 Spain
10.3.2.8.1 Spain Road Safety Market by Solution
10.3.2.8.2 Spain Road Safety Market by Service Outlook
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Road Safety Market by Solution
10.3.2.9.2 Netherlands Road Safety Market by Service Outlook
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Road Safety Market by Solution
10.3.2.10.2 Switzerland Road Safety Market by Service Outlook
10.3.2.11 Austria
10.3.2.11.1 Austria Road Safety Market by Solution
10.3.2.11.2 Austria Road Safety Market by Service Outlook
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Road Safety Market by Solution
10.3.2.12.2 Rest of Western Europe Road Safety Market by Service Outlook
10.4 Asia-Pacific
10.4.1 Asia Pacific Road Safety Market by Country
10.4.2 Asia Pacific Road Safety Market by Solution
10.4.3 Asia Pacific Road Safety Market by Service Outlook
10.4.4 China
10.4.4.1 China Road Safety Market by Solution
10.4.4.2 China Road Safety Market by Service Outlook
10.4.5 India
10.4.5.1 India Road Safety Market by Solution
10.4.5.2 India Road Safety Market by Service Outlook
10.4.6 Japan
10.4.6.1 Japan Road Safety Market by Solution
10.4.6.2 Japan Road Safety Market by Service Outlook
10.4.7 South Korea
10.4.7.1 South Korea Road Safety Market by Solution
10.4.7.2 South Korea Road Safety Market by Service Outlook
10.4.8 Vietnam
10.4.8.1 Vietnam Road Safety Market by Solution
10.4.8.2 Vietnam Road Safety Market by Service Outlook
10.4.9 Singapore
10.4.9.1 Singapore Road Safety Market by Solution
10.4.9.2 Singapore Road Safety Market by Service Outlook
10.4.10 Australia
10.4.10.1 Australia Road Safety Market by Solution
10.4.10.2 Australia Road Safety Market by Service Outlook
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Road Safety Market by Solution
10.4.11.2 Rest of Asia-Pacific APAC Road Safety Market by Service Outlook
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Road Safety Market by Country
10.5.1.2 Middle East Road Safety Market by Solution
10.5.1.3 Middle East Road Safety Market by Service Outlook
10.5.1.4 UAE
10.5.1.4.1 UAE Road Safety Market by Solution
10.5.1.4.2 UAE Road Safety Market by Service Outlook
10.5.1.5 Egypt
10.5.1.5.1 Egypt Road Safety Market by Solution
10.5.1.5.2 Egypt Road Safety Market by Service Outlook
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Road Safety Market by Solution
10.5.1.6.2 Saudi Arabia Road Safety Market by Service Outlook
10.5.1.7 Qatar
10.5.1.7.1 Qatar Road Safety Market by Solution
10.5.1.7.2 Qatar Road Safety Market by Service Outlook
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Road Safety Market by Solution
10.5.1.8.2 Rest of Middle East Road Safety Market by Service Outlook
10.5.2 Africa
10.5.2.1 Africa Road Safety Market by Country
10.5.2.2 Africa Road Safety Market by Solution
10.5.2.3 Africa Road Safety Market by Service Outlook
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Road Safety Market by Solution
10.5.2.4.2 Nigeria Road Safety Market by Service Outlook
10.5.2.5 South Africa
10.5.2.5.1 South Africa Road Safety Market by Solution
10.5.2.5.2 South Africa Road Safety Market by Service Outlook
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Road Safety Market by Solution
10.5.2.6.2 Rest of Africa Road Safety Market by Service Outlook
10.6 Latin America
10.6.1 Latin America Road Safety Market by Country
10.6.2 Latin America Road Safety Market by Solution
10.6.3 Latin America Road Safety Market by Service Outlook
10.6.4 Brazil
10.6.4.1 Brazil Road Safety Market by Solution
10.6.4.2 Brazil Africa Road Safety Market by Service Outlook
10.6.5 Argentina
10.6.5.1 Argentina Road Safety Market by Solution
10.6.5.2 Argentina Road Safety Market by Service Outlook
10.6.6 Colombia
10.6.6.1 Colombia Road Safety Market by Solution
10.6.6.2 Colombia Road Safety Market by Service Outlook
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Road Safety Market by Solution
10.6.7.2 Rest of Latin America Road Safety Market by Service Outlook
11 Company Profile
11.1 Conduent
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Cubic Corporation
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Dahua Technology
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 FLIR Services
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 IDEMIA
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 JENOPTIK
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 KAPSCH TraficCom
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Motorola Solutions
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Redflex Holdings
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Others
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Bench marking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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