Road Safety Market Estimated to Boost in Near Future 2028 | Growth, Emerging Trends, Consumer Demand, Revenues, Opportunities & Competitive Landscape
Global road safety market size is projected to reach nearly USD 6.3 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 9.3% over the forecast period.
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Road safety involves services, solutions and products are used to prevent road accidents and maintain traffic discipline. Products include detection systems, incident response and traffic enforcement cameras, whereas services cover repair, maintenance and installation of these systems. All these solutions provide help in ensuring the safety of commuters and maintaining traffic discipline. The global Road Safety Market has been witnessing an enormous growth on the performance over the recent years. Expansion of the road safety industry is attributed by plenty of growth propelling aspects. The rising awareness in population regarding road safety and proper road safety infrastructure has given a rise to the increase in the demand for road safety solutions. The exponential rise in demand for these solutions across the globe has been providing momentum to the industry growth.
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Numerous governments across the globe are dynamically taking efforts in order to promote road safety campaigns for the development of enhanced road infrastructure. This rising number of programs is anticipated to boost the road safety industry performance. The growing need for public security is also boosting the growth of the market on global level. There have been and elevation in the number of road accidents and fatalities over the recent times. The rising need for the development of a safe road infrastructure in order to prevent accidents and fatalities has been boosting the demand for these solutions among various regions. This factor has been pushing the growth of the global road safety industry ahead.
Major investments being made by government authorities in collaboration with private organization and market entities is also propelling the performance of the road safety industry. However, the road safety industry performance has had a serious impact due to the emergence of global COVID-19 pandemic in recent times. Several regulatory imposed by the governments caused major impact on revenues. Nevertheless, the industry s anticipated to recuperate soon and reflect a healthy growth attributing to strong sales pipeline of the companies associated with already existing long term contracts. In addition, the organizations are still receiving contracts and orders that are likely to offer numerous lucrative opportunities to the market players across the globe.
The major players of the global Road safety market are Sensys Gatso Group, Motorola Solutions, SWARCO, Redflex Holdings, Verra Mobility, Jenoptik, Kapsch TrafficCom, IDEMIA, FLIR Systems, and Information Engineering Group Inc. Moreover, the market comprises several other prominent players in the road safety market as Conduent, Traffic Management Technologies, AABMATICA, VITRONIC, Kria, Laser Technology, Cubic Corporation, Siemens, Optotraffic, Syntell, and Clearview Intelligence. The major players in the market comes up with some of the developments to enhance the market growth in the global industry.
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Some Major Points From TOC:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Road Safety Market by Solution, 2018-2028 (USD Billion)
Chapter 6 Road Safety Market by Service, 2018-2028 (USD Billion)
Chapter 7 Road Safety Market by Region, 2018-2028 (USD Billion)
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
(Overview, Products and Service Portfolio, Recent Initiatives, Company Financials, SWOT)
9.1 Jenoptik
9.2 Kapsch TrafficCom
9.3 Sensys Gatso Group
9.4 Redflex Holdings
9.5 Verra Mobility
9.6 IDEMIA
9.7 FLIR Systems
9.8 Motorola Solutions
9.9 SWARCO
9.10 Information Engineering Group Inc.
9.11 Other Key Players
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