Global Road Safety Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Road safety market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Road safety Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Road safety Market forecast.
The Road safety Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The global road safety market size is anticipated to touch USD 5.1 billion by 2025. The market is projected to exhibit a CAGR of 10.5% over the forecast duration. The rise in the number of road accidents is attributing to the growth of the market as safety features are becoming paramount across the world. In addition, governments across the globe are increasingly spending on developments of road infrastructure to ensure smooth mobility of commuters, which, in turn, projected to supplement the growth of the market.
There has been phenomenal growth in the traffic safety solutions such as system integration, monitoring & training and installation in the recent past. These solutions are being deployed for newer and existing infrastructure. Further, there has been a rise in the adoption of different consulting services owing to the growing need to simplify various intricacy in existing infrastructure. For example, Jenoptik provides maintenance and support apart from 24/7 online platform.
In 2018, Europe held the largest share in the market, primarily because of increasing government initiatives to improve road safety. In order to reduce road fatalities, the European Union has implemented the Safe System and Vision Zero approach. On the other hand, Asia Pacific accounted for the modest share in the market in 2018, however, the region is projected to exhibit significant growth rate over the forecast duration. Increasing investments by governments in the development of road infrastructure are estimated to attribute to the growth of the region.
Some of the companies for Road safety market are:
FLIR Systems, Inc., Jenoptik, American Traffic Solutions (Verra Mobility), Vitronic, Redflex Holdings, and FLIR Systems
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