Road Safety Market Segmentation, Worth USD 5.77 Billion by 2027; Emergence of smart cities and smart transportation
The increasing number of road accidents and increasing government initiatives are driving the demand of the Road Safety market
VANCOUVER, BRITISH COLUMBIA, CANADA, June 6, 2022 /EINPresswire.com/ — According to a current analysis by Emergen Research Road Safety Market will be worth USD 5.77 Billion by 2027,. 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. 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.
The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Road Safety industry. The market intelligence report is a prototype of the 360° overview of the global Road Safety industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.
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The Asia Pacific region is expected to be the fastest-growing region over the forecast period. Adoption of advanced technologies, such as the Internet of Things (IoT) and data analytics solution in the transportation system has driven the growth of road safety solutions in the region.
Acquisitions Commenced by Significant Companies to Encourage Market Growth
The dominating players in the market frequently choose effective tactics to thrust their brand value as well as endorse the global market growth of the product with confronting least conceivable complications. One such resourceful strategy is purchasing competitive companies and further fortifying a profit for both the 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 broad competitive landscape of the global Road Safety market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Road Safety market and pinpoint the fundamental growth trends.
Key Points Covered in This Section:
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
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)
Professional Services (Support and maintenance, System Integration and deployment, Consulting and Training)
To identify the key trends in the industry, click on the link below: https://www.emergenresearch.com/industry-report/road-safety-market
Middle East & Africa
Besides offering a vivid depiction of the global Road Safety business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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