Rising number of road accidents and growing government initiatives are driving the demand for road safety market
VANCOUVER, BRITISH COLUMBIA, CANADA, June 6, 2022 /EINPresswire.com/ — According to current analysis by Emergen Research road safety market will be worth $5.77 billion by 2027. 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 also depicts key business strategies, demand and supply ratios, major regions, and renowned market players, in a nutshell, providing a futuristic perspective of the overall Road Safety industry. The market intelligence report is a prototype of the 360° overview of the global road safety industry, highlighting the estimated market value, share, growth trends, gross revenue , competitive overview, major manufacturers and buyers, available product types and end-use apps.
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Asia-Pacific is expected to be the fastest growing region during the forecast period. Adoption of advanced technologies, such as Internet of Things (IoT) and data analytics solution in transportation system, has driven the growth of road safety solutions in the region.
Acquisitions launched by prominent companies to encourage market growth
Dominating market players frequently choose effective tactics to boost their brand equity and endorse the growth of the global product market by confronting the least conceivable complications. One of these ingenious strategies is to buy competitive companies and further strengthen the earnings of both companies.
Number of companies covered
SWARCO, REDFLEX HOLDINGS, SENSYS GATSO GROUP, JENOPTIK, IDEMIA, KAPSCH TRAFFICCOM, MOTOROLA SOLUTIONS, FLIR SYSTEMS, CUBIC CORPORATION and SIEMENS, among others.
The latest study provides an insightful analysis of the vast competitive landscape of the Global Road Safety Market, with a focus on the leading market rivals and their company profiles. A wide range of strategic initiatives, such as new business deals, mergers and acquisitions, collaborations, joint ventures, technology upgrades, and recent product launches, undertaken by these companies have been discussed in the report. The report analyzes various elements of the competitive scenario of the market such as regulatory standards and policies implemented in the industry over the past few years. Our team of experts has leveraged several powerful analytical tools such as Porter’s Five Forces Analysis and SWOT Analysis to provide a comprehensive overview of the global Road Safety market and identify fundamental growth trends.
Key points covered in this section:
Estimated revenue generation
Vital data and consumption rate information across all major regional segments
An expected increase in market share
Global Consumption Rate Growth Forecasts
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)
Professional services (support and maintenance, system integration and deployment, consulting and training)
To identify key industry trends, click the link below: https://www.emergenresearch.com/industry-report/road-safety-market
Middle East and Africa
Besides offering a vivid description of the global Road Safety business sphere and its fundamental operations, the latest report provides industry chain analysis and lists down current and future market trends and growth opportunities.
The report includes information on current and historic market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report discusses the major factors influencing the growth of the market in the near future.
Strategic marketing recommendations, crucial information related to new market entrants and expansion plans of various companies are poised to provide the reader with a competitive edge in the market.
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