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Research and Markets announced the addition of the "Road Safety Market by Types & Systems - Worldwide Market Forecast (2014-2019)" report to their offering.
There are several systems and technologies that have been implemented in providing security to highways and bridges, tunnels and urban roads. However, road safety market has few challenges. This market is highly fragmented which involves several organizations in multiple transportation modes comprising of both public and private sectors. The growing private sectors focus on ROI and surging political pressure has enforced the government to address the security challenges.
The global land transportation systems which include the infrastructures like highways tunnels, bridges and urban roads are mending to be the cheapest and efficient means of transport which can be easily accessible by any class of people. However, with the increase in crime, terrorist attacks, increasing fatality and injury rates, unwanted social elements and threats and with the increase in global rate of 2 wheeler and 4+ wheeler vehicles on the roads especially in African counties and the APAC region, the demand for security at roadways has increased. Road accidents/crashes are the 5th leading cause of people dying and facing injuries around the world.
The road safety market report constitutes of various types, systems, devices and technologies, services and regions. The overall market size is calculated by adding up the market size of various systems/ devices and technologies and services.
It is forecasts that the urban roads safety market will continue to account for the biggest market share during the forecast period. However, the highways and bridges and tunnels are expected to have the significant growth during the forecast period.
Some of the growing markets are:
• Highways and Bridges: Highways and bridges market is expected to grow at a higher growth rate in the next five years as compared to urban roads and tunnels.
• Asia Pacific and Middle East and Africa: APAC region is expected to grow higher than other regions. MEA and African regions are expected to be the lucrative markets in the coming years. These regions are growing due to rise in vehicles on the road and due to lack of investment for road infrastructure.
• Governments is spending huge amount on roadways infrastructure including highways and bridges, tunnels and urban roads for the development of each country across regions and to deal with the increased road crash accidents/ fatalities.
• Consulting and system integration services are one of the biggest revenue contributors followed by training, support and maintenance services and risk assessment and analysis services.
• Types (Highways and Bridges Safety, Urban Roads Safety and Tunnels Safety)
• Systems (Red Light Enforcement, Speed Limit Enforcement, Bus Lane Enforcement, Communication, Incident Detection)
For more information visit http://www.researchandmarkets.com/research/39s3bj/road_safety