The global Road Safety Market will be worth USD 5.77 Billion by 2027, according to a current analysis by Emergen Research. 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.
Adoption of smart city initiatives and smart transportation techniques in the emerging economies such as automated traffic assistance, parking and traffic management, predictive traffic analytics, and passenger information system is expected to create lucrative opportunities for the road safety market players of road safety solutions.
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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.
- Key participants include SWARCO, REDFLEX HOLDINGS, SENSYS GATSO GROUP, JENOPTIK, IDEMIA, KAPSCH TRAFFICCOM, MOTOROLA SOLUTIONS, FLIR SYSTEMS, CUBIC CORPORATION, and SIEMENS, among others.
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)
Major Geographies Encompassed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Reasons to Purchase this Report:
- The report performs qualitative and quantitative analyses of the Road Safety market based on both the economic and non-economic factors.
- It accurately indicates the regional segments expected to witness the fastest market growth rate.
• The report endows the reader with an in-depth understanding of the competitive landscape of the Road Safety market, withthe market ranking of the major players and their new product launches, partnerships, and various other business expansion strategies.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
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. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Rapid urbanization and growth in urban population
188.8.131.52. Increasing number of road accidents
184.108.40.206. Rapid motorization
220.127.116.11. Government initiatives for enhancing road safety
18.104.22.168. Increasing need for improvement in road infrastructure
4.2.3. Market restraints analysis
22.214.171.124. Insufficient government funding
126.96.36.199. Lack of standardized technologies
188.8.131.52. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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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. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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