Road Safety Market

The global road safety market foreseen to grow by 10.7% from USD 3.48 Billion in 2021 to USD 7.85 Billion in 2029. Enforcement to improve compliance with governments, government initiatives for enhancing road safety, rising number of vehicles are the factors driving the market for the estimated forecast period. However, lack of standardized and uniform technologies yet remain one factor restraint in the market growth for the estimated period.

Market Definition

What is Road safety?

Road safety refers to the measures which must be. adopted by everyone while using roads. These safety. methods are meant for reducing the risk of accidents. and injuries or causalities on the road.

Market Overview

The road safety market search study helps to thoroughly understand the current trend in the market competitive analysis of the players in the emerging market. Moreover, the DRO in the Road safety market offers valuable perspicuity and a current scenario for making the right decision. The research study covers the eminent players in the market with a detailed analysis of the company and a financial overview containing their net sales, business mix and geographical reach It mainly focuses on the key developments of the products/services offered by the company in recent years. Besides, we at Zettabyte have the expertise to analyses the global Road safety market player's competitive landscape helping the client comprehend their specific strategic growth approaches.

Road safety market study by "Zettabyte Analytics" offers details about the market scope, market segmentation, technological advancement in the Road safety market and highlights the optimistic, competitive landscape and trends enduring over the years.

Major players in the Road safety market Jenoptik, Kapsch Trafficcom, Sensys Gatso Group, Verra Mobility, Teledyne Flir, Motorola Solutions, Idemia, Swarco, Vitronic, Siemens, Conduent, Cubic Corporation, Dahua Technology, Laser Technology, Traffic Management Technologies, Trifoil, Kria, Syntell, Truvelo, Clearview Intelligence, Simicon, Fred Engineering, Kodiak Robotics, Humanising Autonomy, Vebits Ai, Connected Wise Llc, Saferoad, Liveroad Analytics

COVID-19 Impact on Global Road safety market

The global impact of COVID-19 has lost millions of lives with a massive cost to the healthcare system. Moreover, the treatment cost for patients with COVID-19 has also had a financial impact globally. The impact of COVID-19 on the Road safety market has forced the companies to change their sourcing, pricing, and promotion strategies. The road safety market players are seen focusing more on optimizing the E-commerce networks with the rising innovations in the digital sector, which are creating new business models for the automotive & transportation industry player.

Research Scope

The report provides market value for the base year 2021 and a yearly forecast from 2022 to 2029 in revenue (USD Million/ Billion). The market for each segment is present in North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the regional basis for the forecast mentioned above.

Key industry dynamics, regulatory scenarios, major material dynamics and road safety market future markets are analyzed to understand their impact on demand for the forecast period. Growth rates have been estimated using correlation, regression and time-series analysis.

Market Segmentation

For the purpose of this report, the global road safety market segmented on the basis of solution, services, and region.

Solution Outlook:

On the basis of Solution, the market is segmented into Red Light & Speed Enforcement, Incident Detection & Response, ANPR/ALPR, Others.

Figure 1 - Road safety Market By Solution (Market Size And Forecast By Value - USD Million, 2021 & 2029)

Services Outlook:

On the basis of Services, the market is segmented into Professional Services, Managed Services. Further, Professional Services is segmented into Consulting and training, System integration and deployment, Support and maintenance.

Figure 2 - Services Outlook (Revenue, USD Million, 2021)