the road safety market will be worth $5.77 billion by 2027, according to current analysis by Emergen Research. The growth of this market can be attributed to the increasing number of road accidents. Growing need for improvement in road structure and public safety is expected to drive the road safety market over the forecast period. Strict government traffic safety rules and regulations are contributing to the growth of the traffic safety market. Increasing government initiatives to improve road safety solutions to reduce road fatalities, such as programs such as smart mobility and adoption of smart transportation, is a contributing factor to the growing demand road safety solutions. The adoption of smart city initiatives and smart transport techniques in emerging economies such as automated traffic assistance, parking and traffic management, predictive traffic analysis and passenger information system is expected to create lucrative opportunities for players in the road safety solutions road safety market.
The report is an in-depth research study of the global road safety market including latest trends, growth factors, developments, opportunities and competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated using data gathered from primary and secondary research reviewed and validated by industry experts. The report provides an overview of market leaders, segmentation by type, application, and region, and technological advancements.
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Major participants include SWARCO, REDFLEX HOLDINGS, SENSYS GATSO GROUP, JENOPTIK, IDEMIA, KAPSCH TRAFFICCOM, MOTOROLA SOLUTIONS, FLIR SYSTEMS, CUBIC CORPORATION and SIEMENS, among others.
The global road safety market is highly consolidated owing to the presence of a large number of companies in this industry. The report examines in detail the current position of these companies in the market, their past performance, supply and demand graph, production and consumption patterns, sales network, distribution channels and opportunities. growth in the market. The report examines the strategic approach of leading market players to expand their product offerings and strengthen their market presence.
The global road safety market is broadly segmented on the basis of different product types, range of applications, end-use industries, key regions, and fiercely competitive landscape. This section of the report is intended solely for readers seeking to strategically select the most suitable and lucrative segments of the Road Safety industry. Sector analysis also helps companies interested in this sector to make optimal business decisions and achieve the desired goals.
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Some highlights of the report
- In April 2019, Redflex Holdings, an innovative global technology company, which designs and builds solutions enabling smarter cities, announced the launch of Halo Edge. The Halo Edge is the next generation smart ANPR (algorithms based on deep learning) camera solution that offers detection of clean air or low emission areas.
- The Red Light & Speed ââEnforcement segment held the largest market share of 51.2% in 2019. The growing need to reduce the number of collisions and right angle accidents has increased the adoption of Red Light & Speed Enforcement.
- Professional services are expected to grow with the fastest CAGR of 9.6% over the forecast period. Growing need for improved operational efficiency, wise financial management and business productivity is driving the growth of professional services in road safety market over the forecast period.
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Emergen Research has segmented the global road safety market based on solutions, services and region:
Solutions Outlook (Revenue, USD Billion; 2017-2027)
- Incident detection and response
- Red light and speed control
- Automatic License 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)
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
Sweeping Features of Road Safety Market Report:
- The report includes road safety market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements.
- An in-depth analysis of the different approaches and procedures undertaken by key players to conduct their business effectively
- Offers an overview of production and manufacturing value, products and services offered in the market, and fruitful information on investment strategies
- Supply chain analysis along with the technological advancements offered in the report
- The report covers an in-depth analysis of the trends, drivers, restraints, limitations, threats and growth opportunities in the road safety industry.
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About Emergen Research
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