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Road Safety Market Trends – Emergence of smart cities and smart transportation

VANCOUVER, BRITISH COLUMBIA, CANADA, April 18, 2023 /EINPresswire.com/ -- The Latest research study released by Emergen Research on "Road Safety Market" with 150+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that leads the market growth.

The global Road Safety Market will be worth USD 5.77 Billion by 2027, according to a current analysis by Emergen Research. 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.

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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. Road Safety Market By Solutions (Incident Detection & Response, Red Light & Speed Enforcement, ANPR/ALPR), By Services (Managed Services, Professional Services), Forecasts to 2027.

Key Players Included in this report are:

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

What can be explored with the Road Safety Market Study?

Gain Market Understanding

Identify Growth Opportunities

Analyze and Measure the Global Road Safety Market by Identifying Investment across various Industry Verticals

Understand the Trends that will drive Future Changes in Road Safety Market

Understand the Competitive Scenarios

Track Right Markets

Identify the Right Verticals

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Some Key Highlights from the Report

In April 2019, Redflex Holdings, an innovative global technology company, which designs and creates solutions that enable smarter cities, announced the launch of Halo Edge. The Halo Edge is the next generation (deep learning-based algorithms) intelligent ANPR camera solution that delivers Clean Air or low emissions zones detection.
The Red Light & Speed Enforcement segment held the largest market share of 51.2% in 2019. The increasing need to reduce the number of collisions and right-angle crashes has increased the adoption of the Red Light & Speed Enforcement.
Market Segmentation Analysis

Players can concentrate on high-growth regions and, if necessary, modify their business plan according to the research report. The Road Safety Market is divided into a variety of categories, uses, and geographical areas. Players gain from the report's regional segmentation research since it offers pertinent data and insights into important geographic marketplaces.

Solutions Outlook (Volume: Kilo Tons) (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 (Volume: Kilo Tons) (Revenue, USD Billion; 2017-2027)
Managed Services
Professional Services (Support and maintenance, System Integration and deployment, Consulting and Training)
COVID-19 Impact Analysis

The post-COVID-19 phase has undergone substantial change, and Road Safety Market research highlights the opportunities and difficulties that still exist. This study report thoroughly examines the effects of the COVID-19 pandemic on the global economy and post-pandemic market behaviour.

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Research Methodology

Emergen Research follows a cohesive methodology to reduce the residual errors to a minimum level by refining the scope, validating through primary insights, and nurturing the in-house database on a regular basis. A dynamic model is formulated to capture the regular fluctuations in the market and thereby, being updated with any shifts in the market dynamics.

DATA TRIANGULATION

The process of data triangulation method was applied to arrive at the final market estimates to verify each data point. Upon estimation of the market size using the market size estimation approaches as explained above; the market is split into several segments and sub-segments. To complete the overall market estimation process and reach accurate statistics of the individual market segment and sub-segment, the data triangulation and market break-down processes were applied, wherever applicable.

Regional Outlook

We carefully examined each division, regional classification, national study, and subject-specific data set during the market research. This Road Safety Market research report's goal is to look at growth patterns, promising futures, important obstacles, and expected results. Information on significant market participants, strategic alliances, plans, new product launches, and joint ventures are all included in the research.

Key Reasons to Purchase Road Safety Market Report

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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