Road Safety Market 2020-2028 Comprehensive Analysis Reveals Impressive Growth | Sensys Gatso Group, Motorola Solutions, SWARCO, Redflex Holdings, Verra Mobility, Jenoptik, Kapsch TrafficCom, IDEMIA, FLIR Systems, and Information Engineering Group Inc.

The global road safety market size is projected to reach nearly USD 6.3 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 9.3% over the forecast period of 2020-2028. Major factors driving the road safety market include rising urban population and high demographic rates, rapid motorization, increasing number of road fatalities/accidents, and government initiatives for enhancing road safety.

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Road safety involves products, solutions, and services used to maintain traffic discipline and prevent road accidents. Products include traffic enforcement cameras, and incident response and detection systems, while services cover installation, maintenance, and repair of these systems. All these solutions help in maintaining traffic discipline and ensuring the safety of commuters. The increasing need for public security and improvement in road infrastructure is expected to drive the market for road safety over the coming years. Demand for traffic safety solutions is soaring owing to a surge in the number of road accidents and fatalities.

The road safety market has huge competition amongst the already well-known and new market players. Also, the Road safety industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.

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The market for road safety is expected to experience considerable growth owing to the implementation of various government initiatives aimed at creating a safe mobility environment. Several governments around the world are taking steps at decreasing traffic accidents through numerous programs and initiatives. For instance, the federal government of the U.S. launched the Road to Zero initiative to eliminate traffic fatalities by 2050. The initiative is launched by the National Safety Council and is focused on adopting safe and technologically advanced systems to end traffic accident fatalities. Such government initiatives are expected to upkeep the demand for traffic safety and monitoring solutions.

In Europe, various government programmes are aiming at creating cleaner streets, and the industry had a significant share of sales in 2019. In order to prevent injuries and casualties, the European Union has implemented the Vision Zero and Safe Framework strategy. Although the industry retained a moderate sales share in Asia Pacific in 2019, the market is projected to demonstrate the highest growth over the forecast years due to growing infrastructure investment and rising numbers of commuters.

The major players of the global Road safety market are Sensys Gatso Group, Motorola Solutions, SWARCO, Redflex Holdings, Verra Mobility, Jenoptik, Kapsch TrafficCom, IDEMIA, FLIR Systems, and Information Engineering Group Inc. Moreover, the market comprises several other prominent players in the road safety market as Conduent, Traffic Management Technologies, AABMATICA, VITRONIC, Kria, Laser Technology, Cubic Corporation, Siemens, Optotraffic, Syntell, and Clearview Intelligence. The major players in the market comes up with some of the developments to enhance the market growth in the global industry.

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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Road Safety Market by Solution, 2018-2028 (USD Billion)
Chapter 6 Road Safety Market by Service, 2018-2028 (USD Billion)
Chapter 7 Road Safety Market by Region, 2018-2028 (USD Billion)
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles

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