SecurityWorldMarket

10/03/2022

Smart camera manufacturers focus on road safety market

Northbrook, Il (USA)

A new research report on the Road Safety Market particularly highlights ALPR/ANPR cameras as an important product segment for the sector, bringing a new dynamic and a strategic direction for security camera manufacturers to add to their armoury. The global forecast to 2026 for this sector expects the market to grow from USD 3.7 billion in 2021 to USD 5.8 billion by 2026, at a CAGR of 9.6% during the forecast period, according to research company Marketsandmarkets.

Sheer scale of traffic

Road safety enforcement solutions help the police and related authorities to enforce traffic law and perform traffic surveillance to improve road safety and increase public safety. Compliance through enforcement has conventionally been the responsibility of the local police; however, the sheer scale of road usage increases the need to detect the vast majority of offenses using modern electronic technologies that are more efficient than the previous methods of road traffic enforcement. Enforcement solutions, comprising hardware (sensors, cameras, displays, and radars) and software, are vital for road safety.

Professional services

The professional services segment has been segmented into three categories: consulting and training, support and maintenance, and system integration and deployment. Professional services include planning the services, designing the solutions to be deployed, consulting with the enterprise to suggest the right solution/service, and upgrading the enterprises’ current infrastructure to become compatible with deploying the latest road safety services. Companies offering professional services consist of consultants, management experts, and dedicated project management teams who specialize in designing and delivering critical decision support software, tools, services, and expertise.

Strong market in Asia offers high growth

Asia Pacific is rapidly establishing itself as the world’s most powerful area, home to a number of smart cities. Increased security spending to keep up with the ever-changing threat landscape is causing great concern among governments in this region. Asia Pacific comprises China, India, Australia, Hong Kong, and Japan, which are examples of developing economies in the region. The number of smart city projects is increasing, which drives the demand for public and road safety security technologies such as surveillance, speed enforcement, red light enforcement, and incident detection systems. The number of megacities is expanding, as per the population. The necessity for road safety has increased in established and emerging Asia Pacific countries. The demand for road safety solutions and services in countries such as China, Japan, Australia, and the rest of Asia Pacific is predicted to grow rapidly. Various Asia Pacific countries have begun to recognise that road safety measures can help reduce issues such as traffic congestion and road accidents. The road safety market in Asia Pacific has high growth potential. The demand for road safety solutions and services in Asia Pacific is expected to be driven by the region’s strong economic growth, the rise in population, and rapid urbanisation.

Key players

Key and innovative vendors in the Road Safety market, and named by the researchers for the purposes of the report are Jenoptik, Kapsch Trafficcom, Sensys Gatso, Idemia, Teledyne Flir, Motorola, Verra Mobility, Swarco, Siemens, Cubic, Conduent, Vitronic, Dahua, Laser Technology, Traffic Management Technology, Truvelo, Kria, Syntell, Clearview Intelligence, Simicon, Fred Engineering, Kodiak Robitics, Humanising Autonomy, Vebit AI, Connected Wise, Saferoad, Liveroad Analytics.


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