Road Safety Market is projected to reach USD 5.37 Billion by 2026, growing at a CAGR of 9.41% from 2019 to 2026

Global Road Safety Market Analysis

According to Verified Market Research, the global road safety market was valued at USD 2.61 Billion in 2018 and is projected to reach USD 5.37 Billion by 2026, growing at a CAGR of 9.41% from 2019 to 2026.

What is Road Safety?

Road safety can be defined as a systematic method that is used to avoid road users being injured or killed. Usually, these road users comprise pedestrians, cyclists, vehicle passengers, bus, trains, etc. After observing a lot of deaths due to accidents, breaking traffic rules, and over speeding, several countries have regulated the road safety policies minimizing the risk of accidents. Moreover, the government is taking initiatives regarding road safety taking into consideration the “cost-of-loss” resulting from the loss of life and infrastructural damages.

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Global Road Safety Market Outlook

In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

Urbanization and development of infrastructure, development in transportation, increase in number vehicles on the roads, improvements in government rules and regulations, and traffic rules & penalties have boosted the road safety market. The new concept to road safety is the red-light enforcement which has a wide scope in the road safety market. However, there are some barriers to the growth of the market such as insufficient government funding, difficulties in implementing advanced traffic and road safety practices, excessive growth in population in the urbanized region or indirectly on road.

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Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Road Safety Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Global Road Safety Market Competitive Landscape

The “Global Road Safety Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Jenoptik , Kapsch Trafficcom , Sensys Gatso Group, Redflex Holdings, American Traffic Solutions , Idemia , Flir Systems , MotoRoLA Solutions , Swarco and Information Engineers Group .Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

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This release was published on openPR.