“JENOPTIK (Germany), Kapsch TrafficCom (Austria), Sensys Gatso Group (Sweden), IDEMIA (France), Teledyne FLIR (USA), Motorola Solutions (USA), Verra Mobility (USA), SWARCO ( Austria), Siemens (Germany), Cubic Corporation (USA), Conduent (USA), VITRONIC (Germany), Dahua Technology (China), Laser Technology (USA), Traffic Management Technology (South Africa) .
Road Safety Market by Solution (Red Light, Speed, Bus Lane, Section Enforcement and LPR/ANPR), Service (Consulting & Training, Systems Integration & Deployment, and Support & Maintenance) and Region – Global Forecast up to in 2026
MarketsandMarkets predicts the world road safety market The size is expected to increase from USD 3.7 billion in 2021 to reach USD 5.8 billion by 2026, at a compound annual growth rate (CAGR) of 9.6% during the forecast period. The increasing number of road accidents and fatalities makes it necessary to deploy road safety solutions.
Law Enforcement Solution is expected to grow at the highest CAGR during the forecast period
Road safety enforcement solutions help police and relevant authorities with traffic enforcement and traffic monitoring to improve traffic safety and increase public safety. Compliance through law enforcement has traditionally been the responsibility of local police; however, the sheer scale of road use increases the need to detect the vast majority of violations using modern electronic technologies that are more effective than previous methods of road traffic control. Control solutions, comprising hardware (sensors, cameras, displays and radars) and software, are vital for road safety.
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The professional services segment is expected to grow at a higher CAGR during the forecast period
The professional services segment has been segmented into three categories: consulting and training, support and maintenance, and systems integration and deployment. Professional services include planning services, designing solutions to deploy, consulting with the business to suggest the right solution/service, and upgrading the current business infrastructure to be compatible with the deployment of the latest road safety services. Companies offering professional services consist of consultants, management experts and dedicated project management teams who specialize in the design and delivery of business-critical software, tools, services and expertise. help with the decision.
Major Vendors Covered in Road Safety Market JENOPTIK (Germany), Kapsch TrafficCom (Austria), Sensys Gatso Group (Sweden), IDEMIA (France), Teledyne FLIR (US), Motorola Solutions (US), Verra Mobility (USA), SWARCO (Austria), Siemens (Germany), Cubic Corporation (USA), Conduent (USA), VITRONIC (Germany), Dahua Technology (China), Laser Technology (USA) ), Traffic Management Technology (South Africa), Truvelo (UK), Kria (Italy), Syntell (South Africa), Clearview Intelligence (UK), Simicon (Russia), FRED Engineering (Italy), Kodiak Robotics (US), Humanising Autonomy (UK), Vebit AI (US), Connected Wise LLC (US), Saferoad (Germany), LiveRoad Analytics (US).
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These players have adopted various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements and collaborations, new product launches to expand their presence in the road safety market. Partnerships and new product launches were the most adopted strategies by major players from 2019 to 2021, helping them innovate their offerings and expand their customer base.
JENOPTIK develops and produces micro-optics, optoelectronic modules and integrated systems. The company is a global technology conglomerate with three distinct segments: Light & Optics, Light & Production, and Light & Security. VINCORION is the group brand for mechatronic solutions. The business is divided into three segments: Optics and Life Sciences, Mobility and Defense and Civil Systems. Optical and micro-optical components are developed and manufactured within the Optical and Life Sciences division. The company offers a diverse range of products and solutions for the road safety market. This segment includes red light and speed enforcement, automatic license plate recognition (ANPR), traffic service provision, average speed measurement, traffic monitoring (TM), as well as software and accessories. The semiconductor equipment, automotive and automotive OEM, medical technology, defense and security, and aviation industries are some of the company’s key customers. The company maintains its production and assembly sites in Europe, the United States and Asia-Pacific. JENOPTIK has a significant presence in more than 80 countries.
Kapsch TrafficCom is one of the subsidiaries of the Kapsch group. The Kapsch group comprises four key entities: Kapsch BusinessCom, Kapsch CarrierCom, Kapsch PublicTransportCom and Kapsch TrafficCom. The company focuses on the communication and mobility needs of people. Tolling, traffic management, smart urban mobility, traffic safety and security, and networked cars are all part of the Kapsch TrafficCom intelligent transportation system. The company offers end-to-end solutions ranging from components and design to system implementation and operation. The mobility solutions provided by Kapsch TrafficCom contribute to making road traffic safer and more reliable, efficient and comfortable in urban areas as well as on highways while helping to reduce pollution. The company provides products and solutions that process traffic flows and collect charges for the use of road infrastructure, and thereby manage traffic. It operates through two segments: Electronic Tolling (ETC, toll) and Intelligent Mobility Solutions (IMS). The company generates most of the revenue from Europe, the Middle East and Africa and the rest from the North and South America regions.
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