Global Road Safety Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global Road Safety market in its upcoming report titled, “Global Road Safety Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global road safety market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global road safety market report has been segmented on the basis of component, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Road safety are systematic measures taken to avoid road users like cyclists, pedestrians, vehicle passengers, motorists, and passengers of public transport such as buses and trains from being injured or killed. Road safety includes strict traffic rules & regulations, making road users aware about the reasons of accidents. The components of traffic safety include median barrier, crash cushions, guardrail, and end treatments; truck escape ramps and breakaway supports for signs and light standards.
Increasing urbanization, mobility and continuous increase in road accidents is a major factor expected to drive growth of the global road safety market. In addition, increasing new infrastructural development and improvement of existing roads are other major factors expected to boost growth of the global road safety market over the forecast period.
However, insufficient government funding in decentralized areas is a major factor expected to restrain growth of the global road safety market. In addition, lack of awareness of such systems in various developing countries is expected to hamper the market growth to a certain extent.
The market in North America accounted for highest revenue share in the global road safety market in 2016, owing to constantly increasing government initiatives, large-scale investments in the region and early adoption of technology in countries in the region. Europe market is the second-highest revenue share in the global road safety market, due to presence of large amount of equipment manufacturers and solution providers in countries in the region. The market in Asia Pacific is projected to register fastest growth rate in terms of revenue, due to increasing number of accidents, number of vehicles and various government initiatives to improve public safety in countries in the region. Moreover, the markets in Latin America and Middle East & Africa are expected to register moderate growth rate over the forecast period. Revenue from the market in Middle East & Africa is projected to register a CAGR of X.X% over the forecast period.
Global road safety market segmentation:
- Enforcement Solution
- Automatic License Plate Recognition (ALPR)/ Automatic Number Plate Recognition (ANPR)
- Incident Detection and Response
- Consulting and Training
- System Integration and Deployment
- Support and Maintenance
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Sensys Traffic
- Swarco Holding
- Kapsch TrafficCom AG
- FLIR Systems, Inc.
- Huawei Technologies Co., Ltd.
- Jenoptik AG
- Redflex Holdings Limited
- 3M Company
- Motorola Solutions, Inc.
- American Traffic Solutions
- Information Engineering Group, Inc.
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