The increasing number of road accidents and increasing government initiatives are driving the demand of the market.

Vancouver, BC -- (SBWire) -- 12/21/2020 --Road Safety Market

With the rising incidences of traumatic road accidents, there is an increased demand for road safety measures. The global Road Safety Market is forecasted to proliferate at a CAGR of 9.2% to attain a valuation of USD 5.77 Billion, according to the latest report by Emergen Research. The lack of lane discipline and inadequate traffic laws coupled with a scarcity of traffic controlling measures leading to road fatalities are contributing to the rising need for road safety.

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Prominent Players Profiled in the Road Safety Market:

SWARCO, REDFLEX HOLDINGS, SENSYS GATSO GROUP, JENOPTIK, IDEMIA, KAPSCH TRAFFICCOM, MOTOROLA SOLUTIONS, FLIR SYSTEMS, CUBIC CORPORATION, and SIEMENS, among others.

Market Drivers:

The augmenting need for improvements in road infrastructure, public security, and advanced road safety solutions are anticipated to propel the industry's expansion in the projected timeline. Rapid urbanization and increasing urban population are anticipated to be two primary market driving factors. Moreover, incorporation of intelligent and smart transport systems to provide sustainable and smart mobility solutions are anticipated to fuel the industry growth over the coming years. Additionally, the advancements in technological solutions such as speed camera systems, smart traffic light control, and automatic number plate recognition camera systems, among others are further expected to propel the industry's growth.

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)  

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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

Regional Analysis:

In 2019, Europe contributed to the largest share of the industry and is anticipated to retain its dominance due to advanced road infrastructure and tech advancements in the region. The massive presence of original equipment manufacturers (OEMs) and numerous services providers are further fueling market growth. Asia Pacific is estimated to be the fastest-growing market attributable to the escalating safety initiatives, rapid urbanization, and adoption of advanced technologies such as IoT in the transportation systems. 

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