Global Road Safety Market, By Component (Solutions, Services), Technology (Surveillance, Sensors-Based Devices, Radar, Analytics), Road Type (Cities, Highways, Rural Roads, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028

Market Analysis and Insights: Global Road Safety Market

The road safety market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 10.1% in the forecast period of 2021 to 2028 and expected to reach USD 8,542.86 million by 2028. The increasing growth in number of accidents is boosting the growth of the market.

Road safety involves taking several steps for reducing the risk of road traffic injuries and death. The road safety measures are not only taken for car occupants but are also taken for cyclists, pedestrians and motorcyclists. The increase in the number of road accidents especially in the regions that lack road safety infrastructure has created a high need for road safety solutions to prevent these accidents.

Surging number of road accidents led to the rise of more usage of road safety solution which in result drives the growth of road safety market. Technical complications associated with road safety technologies hinder the overall growth of road safety market. Surging growth in connected vehicles integrated with intelligent transportation systems (ITS) is acting as major window of opportunity for the road safety market. High risk of cyber-attacks and personal information thefts is acting as a major challenge for the growth of road safety market.

This road safety market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

Global Road Safety Market Scope and Market Size

The road safety market is segmented into three notable segments which are based on the component, technology and road type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of component, the road safety market has been segmented into solutions and services. In 2021, solutions segment dominates the overall market due to the rise in the demand of enforcement solution in the developing countries.

On the basis of technology, the road safety market has been segmented into surveillance, sensors-based devices, radar and analytics. In 2021, surveillance segment augments the market with the largest market share as this is considered to be the primary and convenient solution for the road safety by monitoring the activities or gathering data regarding speed issues, mishaps and accidents with the utilization of surveillance cameras.

On the basis of road type, the road safety market has been segmented into cities, highways, rural roads and others. In 2021, cities segment holds the largest market share due to the maximum utilization of the road safety solution to avoid traffic congestion and other mishaps.

Global Road Safety Market Country Level Analysis

Road safety market is analysed and market size information is provided by the country, component, and technology and road type.

The countries covered road safety market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The U.S. accounted for maximum share in the road safety market due to presence of large manufacturing companies and strict rules and regulations regarding road safety. Germany accounts for second largest market as it has high road network which ultimately leads to road monitoring and surveillance for safety of citizens. China accounts for third market share due to increasing population and traffic conditions.

The country section of the road safety market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Rising Demand of Water Detection Sensors

Road safety market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in Road safety and changes in regulatory scenarios with their support for the road safety market. The data is available for historic period 2010 to 2019.

Competitive Landscape and Road Safety Market Share Analysis

Road safety market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to road safety market.

Some of the major players operating in the road safety market are JENOPTIK AG, Sensys Gatso Group AB, SWARCO, INFORMATION ENGINEERING GROUP INC., Syntell (Pty) Ltd (a subsidiary of Hosken Consolidated Investments), Kapsch TrafficCom AG, Redflex Holdings, FLIR Systems, Inc., Cubic Corporation, VITRONIC Dr.-Ing. Stein Bildverarbeitungssysteme GmbH, Truvelo Ltd, Optotraffic, LLC, Laser Technology, Inc., Motorola Solutions, Inc., Verra Mobility, Siemens, Dahua Technology Co., Ltd, Clearview Intelligence Ltd, Conduent, Inc., Tattile S.r.l., Traffic Logix among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Many product developments are also initiated by the companies worldwide which are also accelerating the growth of road safety market.

For instance,

In February 2021, Motorola Solutions, Inc. announced the launch of Video-as-a-Service offering. The new offering combined body-worn cameras, cloud-based support and digital evidence management software in a bundle for law enforcement agencies. The body-worn camera as-a-service package is a combination of V300 body-worn camera, mounting device, spare battery and access to digital evidence management. The new product increased the product portfolio of the company.

Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for road safety through expanded range of size.

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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Global Road Safety Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: Global Road Safety Market

Global Road Safety Market Scope and Market Size

Global Road Safety Market Country Level Analysis

Competitive Landscape and Road Safety Market Share Analysis

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Research Methodology:

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