About Traffic Safety System
A traffic safety system is critical in the management of road safety for both drivers and pedestrians. This system consists of technology and services that are aimed to prevent and reduce the likelihood of accidents, curb errant vehicle movement, and guarantee that everyone has a safe commute. The global traffic safety system market is propelled by rising accident and fatality rates, as well as the adoption of technologically improved safety systems. Increased investment in transportation infrastructure to improve the operational performance of traffic management, road transport, vehicle tracking, and road networks, as well as increased innovation in traffic safety goods. However, the market's growth is limited by the unfavourable impact of weather on traffic safety systems and the market's long transaction cycles. Furthermore, an increase in the number of government programs and investments is likely to open up a plethora of development chances.Many positive developments have resulted from technological breakthroughs. Cloud, the internet, big data, and analytics are just a few of the technologies and platforms that have transformed numerous industries of application. Road safety is an example of a field that has evolved through time and is successfully integrating these technologies for V2V and V2I connectivity. Because of this connection, hackers can target any endpoint, gateway, sensor node, or network.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Traffic Safety System market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Traffic Safety System market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Traffic Safety System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Jenoptik (Germany), Kapsch TrafficCom (Austria), SensysGatso Group (Sweden), Redflex Holdings (Australia), Verra Mobility (United States), IDEMIA (France), FLIR Systems (United States), Motorola Solutions (United States), SWARCO (Austria), Information Engineering Group Inc. (Canada), Cubic Corporation (United States) and Siemens (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Optotraffic(United States), Dahua Technology (China), Syntell (South Africa), Traffic Management Technologies (South Africa) and AABMATICA (India).
Segmentation Overview
AMA Research has segmented the market of Global Traffic Safety System market by Type (Traffic Vests and Rainwear, Tube Delineators, Traffic Cones, Traffic Barricades and Others), Application (Red Light and Speed Enforcement, Incident Detection and Response, ALPR/ANPR and Others) and Region.
On the basis of geography, the market of Traffic Safety System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-User, the sub-segment i.e. Municipal will boost the Traffic Safety System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Smart City Projects
Market Growth Drivers:
Rising urban population and high demographic rates, Rapid motorization and Increasing number of road fatalities/accidents
Challenges:
Growing Concerns about the Protection and Privacy of Personal Information and Lack of Knowledge Among People about IOT and Smart Cities
Opportunities:
Designing and Developing Connected Vehicles and Government Initiatives for Enhancing Road Safety
Market Leaders and their expansionary development strategies
In May 2019, Jenoptik signed an agreement with the city of Cologne to provide 10 semistationary speed monitoring devices with the TraffiStar S350 laser scanner This agreement aims to increase traffic safety in all city districts.
In February 2020- Sweden and India collaborate to increase traffic safety. A new government-backed international partnership between Swedish and Indian companies and institutions has been launched with the aim of improving road safety and helping to reduce the huge number of traffic-related fatalities that occur annually in India.
Key Target Audience
Software Companies, Technology Providers, Traffic System Manufacturers, IT Companies, Solution Providers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.