A big blow to the shipping sector was caused by the surge in the number of COVID-19 incidents. With most governments implementing isolation practises, the road transport sector is undergoing a major downturn. The US is witnessing the early stages of the pandemic; a decrease in the number of passengers can still be observed, though. Subway ridership is significantly down in New York; March 11 saw 948,000 fewer trips in January than an typical weekday.

This pattern is also seen in other US cities, such as the Bay Area Rapid Transit (BART) in San Francisco, which has recorded an 85% drop in ridership and a 50 percent fall in economic activity. Services are also being shut down in some parts of the United States, such as city buses in Great Falls, Montana, which will not restore operation until at least March 27. Effects are starting to be felt by rising office closures and the drastic reduction in aviation passengers, taxis and ride hailing suppliers.

Uber, which usually depends on 15 percent of gross bookings from air travellers, raised early worries about future impacts. Uber has also halted pool rides in the US and Canada alongside Lyft, and GrabShare 's ride hailing app has pushed this step further, halting its services until the public health crisis de-escalates in some parts of the Philippines.

Solution Segment

Based on the solution, the market is segmented into red light, speed, bus lane, section enforcement, and ALPR/ANPR. The enforcement solution segment has the largest share in the market in 2019 and the market is forecasted to grow with the significant rate of above 8% CAGR over the forecast period. The municipal police have historically been responsible for enforcement compliance; however, the overwhelming size of road use raises the need to track the vast majority of violations using new electronic systems that are more effective than previous road traffic enforcement strategies. Solutions for road safety compliance help police and related agencies enforce traffic rules and conduct traffic monitoring to promote road safety and increase public safety.

Service Segment

In terms of the service segment, the market is segmented into consulting and training, system integration and deployment, and support and maintenance. In 2019, the consulting and training segment has the fastest growth in the market in 2019 and the market is forecasted to grow with the significant rate of above 10% CAGR over the forecast period. As the implementation of road safety technologies is on the rise, the related facilities are also expected to be quickly adopted. Road safety systems are mainly used to upgrade the current networks and also to combine the new road safety technologies with the existing ones.

North America region has the largest share in market with a CAGR of more than 35.2% in 2019 and is anticipated to continue with the same position during the forecast years 2018-2028. In terms of technical acceptance and growth of infrastructure, it is the most advanced area. On average, 800 cars per 1,000 residents are owned by US residents, while Canada has about 650 cars per 1,000 residents. The US has implemented some of the most sophisticated systems in order to control and track heavy road traffic. Initiatives to improve security networks and eliminate road deaths are being pursued by numerous government and law enforcement authorities in the US and Canada.

Asia Pacific region is anticipated to provide a high CAGR of over 11% during the forecast period. Asia pacific is a major contributor in the global industry with some of the leading countries, such as China, Japan, Singapore, and the rest of APAC, to the growth of various data analytics solutions in the road safety industry. Asia Pacific 's rising rise is due to the region's increasing spending, as well as the expanded acceptance of IoT and automation technologies.

The major players of the global road safety market are Jenoptik, Kapsch TrafficCom, Sensys Gatso Group, Redflex Holdings, Verra Mobility, IDEMIA, FLIR Systems, Motorola Solutions, SWARCO, and Information Engineering Group Inc. Moreover, the market comprises several other prominent players in the road safety market as Cubic Corporation, VITRONIC, Kria, Traffic Management Technologies, AABMATICA, Laser Technology, Siemens, Conduent, Optotraffic, Syntell, and Clearview Intelligence. The road safety market consists of top, medium level and a number of domestic players in the global market. In addition to this, the well-established players in the industry have made various strategies and research & developments to compete with other players in the regional and global market.