The road safety market size is expected to grow from USD 2.35 billion in 2015 to USD 3.63 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.1%. Major factors contributing to the growth of road safety market are- increasing road accident/fatality rates and growing government regulations and standards for road safety across the globe. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions. Complete report on Road safety market spread across 121 pages, profiling 11 companies and supported with 44 tables and 47 figures is now available at http://www.rnrmarketresearch.com/road-safety-market-by-types-highways-and-bridges-safety-urban-roads-safety-and-tunnels-safety-systems-red-light-enforcement-speed-limit-enforcement-bus-lane-enforcement-communication-inciden-market-report.html .
The red light enforcement solution is estimated to contribute the largest market share duing the forecast period. Furthermore, due to rise in demand from traffic enforcement, detection, and prevention, automatic license plate recognition solution is expected to gain traction and would grow at the highest CAGR in the next five years. The consulting and system integration services is expected to contribute the largest market share in the road safety market and is also expected to grow at the highest rate from 2015 to 2020.In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. With the rise in demand for advanced infrastructure development such as Smart City initiatives and new technologies such as driver assistance systems, vehicle lane enforcement systems, incident response systems, automatic number plate recognition systems, the market for road safety is expected to gain traction in the next five years. Priced at $4650 for a single user PDF, a discount on “Road Safety Market by Solution (Red Light Enforcement, Speed Enforcement, Incident Detection Systems, Bus Lane Compliance, Automatic License Plate Recognition), by Service, by Region - Global Forecast to 2020” research report can be requested at http://www.rnrmarketresearch.com/contacts/discount?rname=174153 .
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