PUBLISHER: Value Market Research | PRODUCT CODE: 1342973
PUBLISHER: Value Market Research | PRODUCT CODE: 1342973
The global demand for Road Safety Market is presumed to reach the market size of nearly USD 22.39 BN by 2030 from USD 6.61 BN in 2022 with a CAGR of 14.52% under the study period 2023 - 2030.
Road safety is defined as techniques and precautions taken to avoid death or serious injury of occupants. Typical road users include cyclists, pedestrians, drivers, and passengers. Road safety has become increasingly crucial for occupants, vehicles, pedestrians, and vehicle drivers to stay safe & secure while driving. This involves services and products to safeguard & minimize the risk of accidents, maintain traffic discipline, and assure the safe travel of passengers.
The sharp rise in accidents and fatalities worldwide is the main factor fueling the growth of the road safety market. The rising use of safety solutions is the necessity to safeguard the security of drivers, pedestrians, and passengers. The rising number of death and accidents has increased over the last few decades, which has increased the demand for security. The government policies for road safety have also enhanced the market growth for road safety. Additionally, new security efforts are being launched by national and international government organizations, which is further propelling the market growth of global road safety. Moreover, Innovative and advanced safety alternatives and advancements in road infrastructure are fueling the market growth of road safety. Some other factors, such as speed and red light monitoring systems, high-resolution cameras to record traffic offences, and road safety improvement initiatives by the government, are also augmenting the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of road safety. The growth and trends of road safety industry provide a holistic approach to this study.
This section of the road safety market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Road Safety market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the road safety market include Jenoptik, Kapsch TraficCom, Flir Systems Inc., IDEMIA, Sensys Gatso Group AB, VITRONIC, Redflex Holdings. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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