Global Road Safety Market Overview 2022-2028
Global Road Safety Market For all regions on Earth, the market’s future is uncertain.
European countries have a well-developed road safety strategy that emphasises preventative measures.
Road fatality rates in Europe are lower than the global average, but they vary widely across the continent.
As a result, numerous countries are working to improve road safety in order to reduce the number of people killed in traffic accidents.
The European Union’s need for road safety equipment will be maintained if new policies and guidelines are put in place to promote driver safety.
Road safety measures and solutions include measures and services that prevent and reduce the risk of accidents, prevent unpredictable vehicle movements, maintain traffic discipline, and ensure safe travel for commuters.
The Road Safety Industry’s Future
Due to an increase in road accidents and fatalities, the road safety market is gaining momentum.
The market’s growth is expected to be boosted by a rise in public safety needs and improvements in road infrastructure.
There are also a number of programmes and initiatives being implemented by governments around the world to reduce traffic accidents.
Governments around the world are working to reduce the number of road accidents and fatalities by enforcing traffic rules and ensuring the safety of commuters.
In the last few years, there have been numerous advancements in road safety products.
Individual red-light and speed-monitoring systems were traditionally installed at intersections and on roads in order to keep traffic flowing smoothly.
Companies are now focusing on systems that combine speed and red light monitoring capabilities in a single unit as technology advances.
Using high-resolution cameras, Jenoptik has launched TraffiStar systems that can record traffic offences in up to four lanes.
Additionally, Vitronik provides the Poliscan Red+Speed solution, which is designed to monitor speed and red light violations of vehicles travelling in different directions at intersections.
The market is expected to continue to grow substantially over the forecast period as a result of the introduction of new systems like these.
Drivers of global road safety market growth include rapid population growth, increased vehicle mobility, and increased demand for transportation systems.
Road safety market growth has been boosted by a rise in stringent government regulations and an increase in the number of road accidents, which have led to governments making changes to their existing standards.
The number of fatalities on the road can be reduced by increasing the development of smart infrastructure, building safer roads for pedestrians and bicyclists, and implementing safer driving practises.
Automated traffic assistance, parking and traffic management, and predictive traffic analytics are all part of smart city projects that will lead to greater public safety on the roads.
However, the lack of awareness and budgetary constraints related to road safety may limit the road safety market’s growth in the future.
Road safety solutions include enforcement of speed, red light, bus lane and other traffic lane enforcement, as well as the use of automatic licence plate recognition/automatic number plate recognition and other technologies.
Support and maintenance, consulting and training, system integration and deployment, and managed services all fall under the umbrella term “service.” Because of the growing need for these services, the segments of system integration and deployment as well as consulting and training are expected to contribute significant market shares in the years to come.
In the global road safety market, the Asia Pacific region is expected to grow significantly because of the numerous government safety measures and positive economic growth in the region.
When it comes to implementing new security measures to prevent traffic accidents, each country’s approach differs from the others.
In addition, the need for long-distance commutes and public transportation is growing in these regions due to technological advancements and an increasing population.
Another driving force in the region’s road safety market is automation, which reduces the possibility of human error and thus increases efficiency.
Automated licence plate recognition/automatic number plate recognition will also fuel the Asia-Pacific market for road safety.
Global Road Safety Market: Solution Analysis
- Red Light Enforcement
- Speed Enforcement
- Bus Lane Enforcement and Section Enforcement
- Automatic License Plate Recognition/Automatic Number Plate Recognition (ALPR/ANPR)
- Incident Detection and Response
Global Road Safety Market: Service Analysis
- Consulting and Training
- Support and Maintenance
- System Integration and Deployment
- Managed Services
Global Road Safety Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
The report provides a clear picture of the road safety market in terms of revenue. We’ve included a detailed competitive landscape and a list of the top vendors in the industry.
There has been an analysis of the road safety market’s competitive landscape using the Porter’s Five Forces model.
Analysis of market attractiveness includes benchmarking all segments based on their market size, growth rate, and overall attractiveness.
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