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Road Safety Market Size, Share, Top Key Players, Growth, Drivers, Research Methodology and Forecast

  • elizabethsanchez28
  • Jul 26, 2021
  • 4 min read

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.

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COVID-19 IMPACT

The research report draws attention to the profound impact of the COVID-19 pandemic on the global Road Safety market and its crucial segments. The report evaluates the key factors influencing the market growth and considers the COVID-19 pandemic as one of the contributing elements for the economic slowdown of the market. The pandemic has altered various aspects of the global Road Safety market scenario. However, this report offers an extensive COVID-19 impact analysis of the market to help readers gain knowledge of the significant effects of the outbreak on the present and future scenario of this business space. Hence, this is the newest report offering full coverage of the current economic situation that caused a global health crisis.

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.

Road Safety Market Segmentation:

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)

    • Others


  • Services Outlook (Revenue, USD Billion; 2017-2027)

    • Managed Services

    • Professional Services (Support and maintenance, System Integration and deployment, Consulting and Training)


Regional Analysis:

The global Road Safety market report broadly considers the market mechanism of both the developing and developed regions of the market. This section provides crucial data and information about the different market regions, a country-wise analysis of the Road Safety industry, and an assessment of the market reach and consumer base in the key geographical regions to enable readers to formulate effective business expansion strategies.

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)

Request a customized copy of the report @ https://www.emergenresearch.com/request-for-customization/396

Key Reasons to Buy This Report:

  • The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.

  • It entails a detailed inspection of the Road Safety market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.

  • The report provides the reader with a deep understanding of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and powerful business tactics.

  • Furthermore, the report identifies the key regions and segments that influence the Road Safety market.

The report considers the following timeline for market estimation:

  • Historical Years: 2017-2018

  • Base Year: 2019

  • Estimated Year: 2020

  • Forecast Years: 2020-2027

Table of Content:

Chapter 1. Methodology & Sources 1.1. Market Definition 1.2. Research Scope 1.3. Methodology 1.4. Research Sources 1.4.1. Primary 1.4.2. Secondary 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 4.2.2.1. Rapid urbanization and growth in urban population 4.2.2.2. Increasing number of road accidents 4.2.2.3. Rapid motorization 4.2.2.4. Government initiatives for enhancing road safety 4.2.2.5. Increasing need for improvement in road infrastructure 4.2.3. Market restraints analysis 4.2.3.1. Insufficient government funding 4.2.3.2. Lack of standardized technologies 4.2.3.3. 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

READ MORE…!

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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. 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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Emergen Research | Web: www.emergenresearch.com

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