December 4, 2020

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Traffic Enforcement Camera Market- Increasing growth of speed enforcement cameras systems propel the growth

The global traffic enforcement camera market was estimated at USD3.21 billion in 2019 and projected to reach at USD 8.01 billion at CAGR of 10.7 % over the forecast period. 

Some of the main drivers of this market are increasing urban population and high demographic rates, rapid motorization, increasing numbers of road fatalities/accidents, and government initiatives to improve road safety.
Because of government agencies’ demand to protect pedestrians and vehicle drivers from all types of road accidents, the solution segment is expected to lead the road safety market during the forecast period.

Enforcement solution; incident detection and response; ALPR/ANPR, and others (railroad crossing safety, school bus stop-arm enforcement, and back-office systems) are included in the road safety solutions. The segment of the enforcement solution was further split into red light enforcement, speed enforcement, bus lane enforcement, and section enforcement. These solutions allow government agencies to safeguard pedestrians and drivers of vehicles against all types of road accidents.

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These solutions are gaining traction all over the world with the rapid increase in the number of vehicles on the road.

Due to the capacity to force drivers to keep vehicles within speed limits, particularly on hazardous roads where accidents occur frequently, the section enforcement segment is expected to grow at the highest rate during the forecast period.

Speed enforcement system plays a significant role in checking whether road vehicles comply with the recommended speed limit on roads and highways. Speed enforcement includes the use of cameras, parabolic radars using radio waves, and other technologies, including LiDAR, and number plate recognition. LiDAR-based systems are more suitable for detecting speed violations in congested traffic conditions. This is because, the speed enforcement solution helps acquire a specific target (in this case, a vehicle) when attempting to determine the speed of that vehicle in a congested and crowded roadway. Hence, LiDAR is a widely used tool in speed enforcement solutions.

This research analysis is an analytical documentary of macroeconomic and microeconomic factors influencing the growth of the global traffic enforcement camera market. The Covid-19 pandemic is impacting society and the overall economy of several countries across the global regions. The impact of this COVID-19 pandemic is growing day by day as well as affecting the global supply chain. The COVID-19 crisis is creating uncertainty in the production of the global traffic cameras market. The overall impact of this COVID-19 pandemic is impacting the production process of several industries including a variety of manufacturers of the various road safety components.

North America to dominate the market during the forecast period

Based on region, North America is expected to lead the road safety market during the forecast period. It is the most advanced region in terms of technological adoption and infrastructure development. The US residents own on an average of 800 cars per 1,000 residents, whereas Canada has around 650 cars per 1,000 residents. To manage and monitor heavy road traffic, the US has deployed some of the most advanced technologies. Various government and law enforcement agencies in the US and Canada are taking initiatives to strengthen the security infrastructure and reduce road fatalities. For instance, some of the major US cities are planning to implement “Vision Zero” strategies, with a focus on developing urban mobility systems, wherein any road traffic death is considered unacceptable.

Following Key Players Have Been Profiled in the Report

  • American Traffic Solutions, Inc
  • REDFLEX Traffic Systems
  • TomTom NV
  • XEROX Services
  •  GATSO Deutschland GmbH
  •  SWARCO Traffic Ltd
  • Jinan Zhiye Electronic Co.

Get sample copy with COVID19 impact analysis: https://www.alchemymarketresearch.com/consumer-goods/global-traffic-enforcement-camera-market/#req