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DALLAS, August 28, 2014 /PRNewswire/ --
ReportsnReports.com adds "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, Incident Detection) - Worldwide Market Forecast (2014-2019)" research report on road safety systems and types. The industry is expected to grow from $3.37 billion in 2014 to $5.73 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 11.2% from 2014 to 2019. In terms of regions, North America (NA) is expected to be the biggest contributor in terms of revenue contribution while the growing markets such as Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA), are expected to experience increased market traction with high CAGR's, during the forecast period. This business intelligence research also covers road safety devices and technologies, services and regions.
Major driving factors responsible for the road safety market growth are the constant need for road safety and public security, new infrastructural development, and traffic congestion and longer commuting. The significant rise in this market is due to development of critical transportation infrastructural facilities, new transportation-related projects across the globe. The increasing threats, catastrophic accidents/fatalities, and natural/unnatural disasters have also been the influencing factors for the market growth.
Some of the systems which are gaining traction and investment from various vendors are red light enforcement system, speed limit enforcement system, bus lane enforcement system, communication system, access control system/vehicle detection system, incident detection system and other systems. The key players for the market are Alcatel Lucent, Siemens AG, Kapsch AG, Saab, Flir Systems, Huawei, Thales and Tyco who are reinforcing their business operations into the emerging markets and offer various systems embedded with various devices and technologies to reduce the overall cost and enhance the efficiency. Also, these vendors have uniquely positioned themselves in the market with propagation of new product developments and lucrative partnerships and acquisitions.
Road safety market companies profiled in this report include Alcatel Lucent, Belden, Flir Systems, Huawei Enterprises, Kapsch AG, Rad Data Communication, Saab Group, Siemens AG, Thales and Tyco. Order a copy of this report at http://www.reportsnreports.com/Purchase.aspx?name=284607 .
This research forecasts that urban roads safety market would 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.
Government 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.
The report is expected to help the market leaders/ new entrants in the following ways:
Explore more reports on IT & Telecommunication market and other sectors by MarketsandMarkets at http://www.reportsnreports.com/publisher/marketsandmarkets/ .
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