Report Scope & Overview:
The Road Safety System Market size was recorded at USD 3.10 Bn in 2022 and is expected to reach USD 10.02 Bn by 2030, and grow at a GAGR of 17.1% over the forecast period of 2023-2030.
A road safety system consists of various tactics, policies, and tools designed to lower the number of collisions, injuries, and fatalities on public roads. The protection of all road users, including cyclists, pedestrians, and drivers, depends on the implementation of efficient road safety systems. Road safety is a major concern on a global scale.
A growing number of people live in cities, own more cars, and speed, among other reasons, which have contributed to an increase in traffic accidents and fatalities in recent years. As a result, there is an increasing need for traffic safety systems that can lessen the likelihood of accidents occurring and their severity.
Increasing consciousness of road safety issues Governments, corporations, and the general public are becoming more conscious of the issues surrounding road safety. Numerous things have contributed to this, such as government initiatives, public awareness campaigns, and media coverage of traffic accidents. The need for road safety systems is being driven by this increased awareness. Electric vehicles are growing in popularity and are subject to different safety regulations than conventional automobiles. The need for traffic safety devices made especially for electric cars is being driven by this. Businesses and governments are paying more and more attention to sustainability. Road safety systems can aid in reducing emissions and traffic congestion, making them more sustainable. The world's transportation systems are under increasing strain due to the growing urbanization of the planet. Urban transportation systems can be made safer and more efficient with the use of road safety systems.
Rising demand for safety systems in vehicles.
There has been a rise in public awareness of the significance of vehicle safety. Safety systems are a key selling point for automakers because consumers are becoming more knowledgeable and concerned about safety features. Policyholders who drive cars with cutting-edge safety features frequently receive discounts from insurance companies. Customers are encouraged to select cars with safety features as a result of this. The quick development of technology has allowed for the widespread use of complex safety systems that were previously unattainable. Lane-keeping assistance, adaptive cruise control, and collision avoidance systems are examples of features that are becoming more popular.
The requirement of high investments.
Increasing governmental funding for traffic safety
Road safety is becoming a bigger priority for governments everywhere. This is because traffic accidents are very expensive in terms of both financial losses and human lives lost. Road safety systems are among the many road safety initiatives in which governments are investing. Developments in road safety systems technology: In recent years, there have been notable technological advancements in road safety systems. Intelligent transportation systems (ITS) are one of the new technologies being developed to enhance traffic control and lower accident rates. The need for road safety systems is being driven by these technological advancements.
Impact of Recession
Even with the recession's negative effects, the market for road safety systems still has some potential. For instance, manufacturers of road safety systems are seeing new opportunities as a result of the growing demand for electric vehicles. There is a need for new road safety technologies because electric vehicles have different safety requirements than conventional vehicles. Furthermore, the market for road safety systems is always coming up with new and improved versions of these systems through innovation. The performance of road safety systems is being enhanced and their cost is being decreased thanks to this innovation. This might lessen the detrimental effects of the recession on the sector.
Impact of Russia Ukraine War
The supply chain for raw materials like steel, aluminum, and plastics which are used to make road safety systems has been hampered by the war. The cost of these raw materials has gone up as a result, driving up the price of road safety systems. Decreased demand for road safety systems: As a result of governments and corporations rerouting their resources to other areas, the war has resulted in a decline in the demand for road safety systems. This is because the war is creating instability and uncertainty in the economy. Road safety projects have been delayed as a result of the war because businesses and governments are concentrating on other matters.
By Solution Type
Red Light & Speed Enforcement
Incident Detection & Response
By Service Type
Rest of Eastern Europe
Rest of Western Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East
Rest of Africa
Rest of Latin America
The major key players are American Traffic Solutions, Conduent, Cubic Corporation, Dahua Technology, FLIR Services, IDEMIA, Siemens, Swarco, Vitronic and others.
Cubic Corporation-Company Financial Analysis
With more than 30% of the worldwide market share in 2022, North America is the largest market for road safety systems. The area has a sophisticated transportation system and a high level of awareness regarding traffic safety issues. To lower the number of traffic-related incidents and fatalities, North American governments are making significant investments in road safety infrastructure.
With an emphasis on lowering traffic fatalities and injuries, North America boasts a well-developed market for road safety systems. Adoption of advanced safety technologies is a result of the strict safety regulations and standards in the United States and Canada. Airbags, advanced driver assistance systems (ADAS), anti-lock braking systems (ABS), and electronic stability control (ESC) are important safety features in this area.
Road safety systems have the fastest-growing market in Asia Pacific, which will hold more than 20% of the global market share in 2022. The area is rapidly becoming more urbanized and economically growing, which is increasing the number of people driving and creating traffic jams. In order to enhance traffic flow and lower traffic accidents, this is consequently driving up demand for road safety systems.
|Market Size in 2022||US$ 3.10 Bn|
|Market Size by 2030||US$ 10.02 Bn|
|CAGR||CAGR of 17.1 % From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Solution Type (Red Light & Speed Enforcement, Incident Detection & Response, Automatic Number, Others),
• By Service Type (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||American Traffic Solutions, Conduent, Cubic Corporation, Dahua Technology, FLIR Services, IDEMIA, Siemens, Swarco, Vitronic|
|Key Drivers||• Rising demand for safety systems in vehicles.|
|Market Restraints||• The requirement of high investments.|
Ans; GAGR of 17.1% over the forecast period of 2023-2030.
Ans: The Road Safety System Market size was recorded at USD 3.10 Bn in 2022 and is expected to reach USD 10.02 Bn by 2030.
Ans: Rising demand for safety systems in vehicles.
Ans: The high cost and the adaptability issues, also the requirement of highly skilled professionals.
Ans: North America is the largest market for road safety systems.
TABLE OF CONTENT
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.2 Impact on major economies
184.108.40.206 United Kingdom
220.127.116.11 South Korea
18.104.22.168 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Road Safety System Segmentation, by Solution Type
8.1 Used Leisured Boat
8.2 New Road Safety System
9. Road Safety System Segmentation, by Service Type
10. Regional Analysis
10.2 North America
10.2.1 North America Road Safety System by Country
10.2.2North America Road Safety System by Solution Type
10.2.3 North America Road Safety System by Service Type
10.2.4.1 USA Road Safety System by Solution Type
10.2.4.2 USA Road Safety System by Service Type
10.2.5.1 Canada Road Safety System by Solution Type
10.2.5.2 Canada Road Safety System by Service Type
10.2.6.1 Mexico Road Safety System by Raw Technology
10.2.6.2 Mexico Road Safety System by Service Type
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Road Safety System by Country
10.3.1.2 Eastern Europe Road Safety System by Solution Type
10.3.1.3 Eastern Europe Road Safety System by Service Type
10.3.1.4.1 Poland Road Safety System by Solution Type
10.3.1.4.2 Poland Road Safety System by Service Type
10.3.1.5.1 Romania Road Safety System by Solution Type
10.3.1.5.2 Romania Road Safety System by Service Type
10.3.1.6.1 Hungary Road Safety System by Solution Type
10.3.1.6.2 Hungary Road Safety System by Service Type
10.3.1.7.1 Turkey Road Safety System by Solution Type
10.3.1.7.2 Turkey Road Safety System by Service Type
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Road Safety System by Solution Type
10.3.1.8.2 Rest of Eastern Europe Road Safety System by Service Type
10.3.2 Western Europe
10.3.2.1 Western Europe Road Safety System by Country
10.3.2.2 Western Europe Road Safety System by Solution Type
10.3.2.3 Western Europe Road Safety System by Service Type
10.3.2.4.1 Germany Road Safety System by Solution Type
10.3.2.4.2 Germany Road Safety System by Service Type
10.3.2.5.1 France Road Safety System by Solution Type
10.3.2.5.2 France Road Safety System by Service Type
10.3.2.6.1 UK Road Safety System by Solution Type
10.3.2.6.2 UK Road Safety System by Service Type
10.3.2.7.1 Italy Road Safety System by Solution Type
10.3.2.7.2 Italy Road Safety System by Service Type
10.3.2.8.1 Spain Road Safety System by Solution Type
10.3.2.8.2 Spain Road Safety System by Service Type
10.3.2.9.1 Netherlands Road Safety System by Solution Type
10.3.2.9.2 Netherlands Road Safety System by Service Type
10.3.2.10.1 Switzerland Road Safety System by Solution Type
10.3.2.10.2 Switzerland Road Safety System by Service Type
10.3.2.11.1 Austria Road Safety System by Solution Type
10.3.2.11.2 Austria Road Safety System by Service Type
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Road Safety System by Solution Type
10.3.2.12.2 Rest of Western Europe Road Safety System by Service Type
10.4.1 Asia Pacific Road Safety System by Country
10.4.2 Asia Pacific Road Safety System by Solution Type
10.4.3 Asia Pacific Road Safety System by Service Type
10.4.4.1 China Road Safety System by Solution Type
10.4.4.2 China Road Safety System by Service Type
10.4.5.1 India Road Safety System by Solution Type
10.4.5.2 India Road Safety System by Service Type
10.4.6.1 Japan Road Safety System by Solution Type
10.4.6.2 Japan Road Safety System by Service Type
10.4.7 South Korea
10.4.7.1 South Korea Road Safety System by Solution Type
10.4.7.2 South Korea Road Safety System by Service Type
10.4.8.1 Vietnam Road Safety System by Solution Type
10.4.8.2 Vietnam Road Safety System by Service Type
10.4.9.1 Singapore Road Safety System by Solution Type
10.4.9.2 Singapore Road Safety System by Service Type
10.4.10.1 Australia Road Safety System by Solution Type
10.4.10.2 Australia Road Safety System by Service Type
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Road Safety System by Solution Type
10.4.11.2 Rest of Asia-Pacific APAC Road Safety System by Service Type
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Road Safety System by Country
10.5.1.2 Middle East Road Safety System by Solution Type
10.5.1.3 Middle East Road Safety System by Service Type
10.5.1.4.1 UAE Road Safety System by Solution Type
10.5.1.4.2 UAE Road Safety System by Service Type
10.5.1.5.1 Egypt Road Safety System by Solution Type
10.5.1.5.2 Egypt Road Safety System by Service Type
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Road Safety System by Solution Type
10.5.1.6.2 Saudi Arabia Road Safety System by Service Type
10.5.1.7.1 Qatar Road Safety System by Solution Type
10.5.1.7.2 Qatar Road Safety System by Service Type
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Road Safety System by Solution Type
10.5.1.8.2 Rest of Middle East Road Safety System by Service Type
10.5.2.1 Africa Road Safety System by Country
10.5.2.2 Africa Road Safety System by Solution Type
10.5.2.3 Africa Road Safety System by Service Type
10.5.2.4.1 Nigeria Road Safety System by Solution Type
10.5.2.4.2 Nigeria Road Safety System by Service Type
10.5.2.5 South Africa
10.5.2.5.1 South Africa Road Safety System by Solution Type
10.5.2.5.2 South Africa Road Safety System by Service Type
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Road Safety System by Solution Type
10.5.2.6.2 Rest of Africa Road Safety System by Service Type
10.6 Latin America
10.6.1 Latin America Road Safety System by Country
10.6.2 Latin America Road Safety System by Solution Type
10.6.3 Latin America Road Safety System by Service Type
10.6.4.1 Brazil Road Safety System by Solution Type
10.6.4.2 Brazil Africa Road Safety System by Service Type
10.6.5.1 Argentina Road Safety System by Solution Type
10.6.5.2 Argentina Road Safety System by Service Type
10.6.6.1 Colombia Road Safety System by Solution Type
10.6.6.2 Colombia Road Safety System by Service Type
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Road Safety System by Solution Type
10.6.7.2 Rest of Latin America Road Safety System by Service Type
11 Company Profile
11.1 American Traffic Solutions
11.1.1 Company Overview
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2.1 Company Overview
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Cubic Corporation
11.3.1 Company Overview
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Dahua Technology
11.4 Company Overview
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 FLIR Services
11.5.1 Company Overview
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6.1 Company Overview
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7.1 Company Overview
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8.1 Company Overview
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9.1 Company Overview
11.9.3 Product/Services Offered
11.9.4 SWOT Analysis
11.9.5 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
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