The global Road Safety Market will be worth USD 5.77 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing number of road accidents. The increasing need for improvement in the road structure and public security is expected to drive the market for road safety over the forecast period. Stringent rules and regulations of the government regarding road safety are contributing to the growth of the road safety market. Increasing government initiatives for improving road safety solutions to reduce road fatalities, such as programs like smart mobility and adopting smart transportation, is a contributing factor to the growing demand for traffic safety solutions.
The Global Road Safety Market Research Report published by Emergen Research is furnished with the latest information about product specifications and portfolio, technological advancement, product type, and manufacturing. Major factors such as revenue, costs, and gross margin are taken into consideration while formulating this report. The report provides extensive data concerning the key market players along with their SWOT analysis, financial standing, technological and product development, and recent strategic business expansion plans.
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Global Road Safety Market – Overview:
The latest market intelligence report, titled ‘Global Road Safety Market’, is intended to provide the target audience with the necessary information about the global Road Safety industry. The report comprises a detailed analysis of the vital elements of the Road Safety market, including key drivers, constraints, opportunities, limitations, threats, and micro- and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects.
Key Highlights From The Report
- In April 2019, Redflex Holdings, an innovative global technology company, which designs and creates solutions that enable smarter cities, announced the launch of Halo Edge. The Halo Edge is the next generation (deep learning-based algorithms) intelligent ANPR camera solution that delivers Clean Air or low emissions zones detection.
- The Red Light & Speed Enforcement segment held the largest market share of 51.2% in 2019. The increasing need to reduce the number of collisions and right-angle crashes has increased the adoption of the Red Light & Speed Enforcement.
- Professional services are forecasted to grow with the fastest CAGR of 9.6% over the forecast period. The increasing need for the improvement of operational efficiency, wise financial management, and business productivity are driving the growth of the professional services in the road safety market over the forecast period.
The key players in the market are adopting various strategies such as mergers and acquisitions, product launches, partnerships, collaborations and brand promotions to retain their market position and enhance their product base. The report also sheds light on the market players in the global Road Safety Market with important details about each market player such as its global position, financial standing, production and manufacturing capacity, license agreement, and business expansion plans.
Key Companies in the market include: SWARCO, REDFLEX HOLDINGS, SENSYS GATSO GROUP, JENOPTIK, IDEMIA, KAPSCH TRAFFICCOM, MOTOROLA SOLUTIONS, FLIR SYSTEMS, CUBIC CORPORATION, and SIEMENS, among others.
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The primary aim of the report is to offer precise information to the readers and investor and help them invest after understanding the market dynamics at glance. The report offers in depth information about the competitive landscape of the global Road Safety Market with extensive profiling of each market player with its global position, financial standing, business expansion plans, and license agreement.
The report sheds light on the region expected to dominate the Road Safety market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Road Safety market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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Emergen Research has segmented the global Road Safety Market on the basis of Solutions, Services, and region:
- Solutions Outlook (Revenue, USD Billion; 2017-2027)
- Incident Detection & Response
- Red Light & Speed Enforcement
- Automatic Number Plate Recognition (ANPR)/Automatic License Plate Recognition (ALPR)
- Services Outlook (Revenue, USD Billion; 2017-2027)
- Managed Services
- Professional Services (Support and maintenance, System Integration and deployment, Consulting and Training)
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Table of Content
Chapter 1. Methodology & Sources
1.1. Road Safety Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Road Safety Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Road Safety Market Segmentation & Impact Analysis
4.1. Road Safety Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Road Safety Market indicators analysis
4.2.2. Road Safety Market drivers analysis
Key Questions Answered in the Report:
- What is the growth rate of the Road Safety market? What is the anticipated market valuation of Road Safety industry by 2028?
- What are the key growth driving and restraining factors of the Road Safety market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are the key opportunities and growth prospects of the Road Safety industry over the forecast period?
- Which region is expected to show significant growth in the coming years?
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.