Global Traffic Enforcement Camera Market Witness Double Digit Growth by 2022 – Credence Research
According to a new market report published by Credence Research Inc “Traffic Enforcement Camera Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022,” stringent road safety regulations and increasing efforts to reduce road fatalities across the world are increasing the adoption of traffic enforcement cameras.
The growth of red light and speed enforcement cameras systems is primarily driven by the increasing need to reduce speeding and fatalities in urban areas. In addition, road safety programs to improve motorist as well as pedestrian safety are also expected to influence the market growth in future. Deployment of red light and speed camera improves traffic flow and driving habits.
Countries across the world are continuously focusing on increasing the road safety and security. The developed regions such as U.K, U.S and Canada several others are using this cameras at a huge scale to improve the traffic regulation. The governments of developing countries such as the China, Japan, India, South Africa and Mexico among others are encouraging the use of traffic enforcement cameras to reduce the traffic guideline violations. In future, enforcement cameras market is expected to grow at a faster pace in the developing region as the intelligent transport system is encouraged by the government to increase the safety awareness among people.
India is focusing to reduce number of accidents by installing red light cameras at major intersection in major cities. In 2011, Chennai has started installation of red light cameras at 240 intersections. Bangalore has also installed 5 red light cameras to determine the impact of these cameras on road safety. In addition, several speed enforcement cameras are installed at expressways to reduce speeding. At the end of 2012, India has about 1,029 units of red light and speed enforcement cameras. India has huge potential base for these cameras. Russia is one of the emerging countries in the world and traffic level in the country has grown rapidly in the last two decades. Several transportation authorities in Russia are deploying speed enforcement cameras to reduce number of traffic causalities.
The global traffic enforcement cameras industry comprises large numbers of domestic and international players through its value chain. American Traffic Solutions, Inc. (ATS), REDFLEX Traffic Systems, XEROX Services and TomTom NV are some of the established players in the global traffic enforcement camera market. Some other major players in the global market include SWARCO Traffic Ltd, Jinan Zhiye Electronic Co., Ltd. GATSO Deutschland GmbH among others.
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