openPR Logo
Press release

Road Safety Market Size is Estimated to Reach USD 9.5 Billion by 2030

12-26-2022 02:06 PM CET | Logistics & Transport

Press release from: Acumen Research and Consulting

Road Safety Market Size is Estimated to Reach USD 9.5 Billion

The Global Road Safety Market is anticipated to grow at a CAGR of around 11.5% during the forecast period 2022 to 2030 and to reach around US$ 9.5 Billion by 2030.

Deployment of smart sensors on roads and use to real time analytical software's are augmenting the global road safety market growth.

The market in North America is expected to account for major revenue share in the global road safety market due to rising road accidents in the region. Noticeable increase in the number of accident cases in hospitals and rising awareness among consumers related to safety is resulting in demand for road safety solutions. According to U.S. Department of Transportation's Fatality Analysis Reporting System (FARS), around 33,244 motor accidents occurred in 2019, in which 36,096 people died. These accidents resulted in 1.11 death per 100 million miles travelled and 11 deaths per 100,000 people. Government is spending high on development of smart cities; their approach towards deployment of safety sensors, road monitoring, etc. for safe and swift transportation.

DOWNLOAD SAMPLE PAGES OF THIS REPORT@ https://www.acumenresearchandconsulting.com/request-sample/331

Major players are investing high in product development and their approach towards introduction of new smart solutions is expected to augment the growth of regional market. In 2021, Lindsay Corporation, global provider of innovative infrastructure & technology solutions launched "RoadConnect." The product is cloud-based remote asset monitoring platform for the transportation industry with the focus to improve operational efficiency and overall road safety. Players approach towards acquisition in order to enhance the product portfolio and increase the customer base this is expected to support the growth of target market. In 2020, the company also acquired Elecsys Corporation, a global provider of machine-to-machine (M2M) technology solutions and custom electronic systems. The acquisition is expected to help the company to enhance the product offerings and increasing the customer base.

The market in Asia Pacific is expected to witness faster growth in the target market due to increasing government spending on development of smart transportation system. Government of developing countries is spending high on enhancing the transportation sector infrastructure. They are approaching towards building roads with smart technologies with the focus to collect & analyze data to improve traffic management and cater the transportation needs on long term basis. Presence of large number of electronic manufacture operating in the country and introduction of new sensors is expected to support the market growth in this region.

Technologies such as IoT sensors, cameras, radar, etc. are witnessing rapid development and their adoption to streamline the traffic and improve the congestion to avoid accidents through real time analysis is gaining importance. Introduction of new business policies by the government and emergence of small & mid- size enterprise with innovative solutions is expected to boost the market growth.

Rising highway safety concern among the government of developed and developing countries and approach towards lowering the road accidents through deployment of enhanced smart solutions are major factors expected to drive the growth of global road safety market. Enterprises are investing high for R&D activities and approach towards new service & product launch is augmenting the road safety market growth.

In 2021, eSentire launched emergency incident response, digital forensics investigations and security incident response planning services with the focus to enhance its product portfolio. The service launch is expected to attract new customers and increase the revenue share.

In 2021, Motorola Solutions, Inc a global electronic company launched video-as-a-service product. The service caters to the law enforcement agencies by combined body-worn cameras, cloud-based support and digital evidence management software. The launch is expected to help the company enhance the business.

Factors such as technical glitches and lack of required infrastructure for supporting the advanced smart devices are factors expected to hamper the growth of global road safety market. In addition, cost-effective product launch by regional players is expected to challenge the growth of target market. However, increasing investment by major players, changing government regulations and new product launches by enterprises are factors expected to create new opportunities for players operating in the road safety market over the forecast period. In addition, focus towards enhancing the business through strategic partnership is expected to support the revenue transaction of target market.

The global road safety market is segmented into component, technology, and service. The technology segment is divided into surveillance, sensors-based devices, radar, and analytics. Among technology the sensors-based devices segment is expected to account for major revenue share in the global road safety market. The component segment is bifurcated into solutions and services. Players profiled in the global road safety market are JENOPTIK AG, INFORMATION ENGINEERING GROUP INC., Sensys SWARCO, Syntell (Pty) Ltd, Gatso Group AB, Kapsch TrafficCom AG, FLIR Systems, Inc., Redflex Holdings, and Cubic Corporation.

INQUIRY BEFORE BUYING@ https://www.acumenresearchandconsulting.com/inquiry-before-buying/331

BUY THIS PREMIUM RESEARCH REPORT - https://www.acumenresearchandconsulting.com/buy-now/0/331

201, Vaidehi-Saaket, Baner - Pashan Link Rd, Pashan, Pune, Maharashtra 411021

Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Road Safety Market Size is Estimated to Reach USD 9.5 Billion by 2030 here

News-ID: 2863110 • Views:

More Releases from Acumen Research and Consulting

Compact High Pressure Laminates Market to Reach USD 9.6 Billion by 2032, Driven by Sustainable Construction and Interior Design Innovation
Compact High Pressure Laminates Market to Reach USD 9.6 Billion by 2032, Driven …
The Compact High Pressure Laminates Market is gaining remarkable momentum as industries across construction, interior design, healthcare, and commercial applications increasingly adopt durable, stylish, and sustainable surfacing solutions. Valued at USD 5.9 Billion in 2023, the market is projected to reach USD 9.6 Billion by 2032, reflecting a steady compound annual growth rate (CAGR) of 5.6%. Get Free PDF Sample Pages of This Report: https://www.acumenresearchandconsulting.com/request-sample/3646 Compact High Pressure Laminates, or Compact HPL,
Culture Media Market Set to Surge Beyond USD 17.32 Billion by 2032, Driven by Advancements in Biotechnology and Diagnostics
Culture Media Market Set to Surge Beyond USD 17.32 Billion by 2032, Driven by Ad …
Culture Media Market Poised for Robust Expansion Amid Biotechnology Boom The Culture Media Market has emerged as a cornerstone of modern life sciences, enabling researchers and manufacturers to cultivate, identify, and preserve microorganisms and cells for critical applications. From drug discovery to diagnostic testing, culture media plays an indispensable role in advancing human health and biotechnology. According to Acumen Research and Consulting, the global Culture Media Market size was valued at USD
Green Energy Market Size to Hit USD 2.41 Trillion by 2032 | Key Trends, Share & Growth Insights
Green Energy Market Size to Hit USD 2.41 Trillion by 2032 | Key Trends, Share & …
The global Green Energy Market is experiencing unprecedented momentum. According to Acumen Research & Consulting, the market reached USD 1.15 trillion in 2023 and is forecast to grow at a CAGR of 8.7% from 2024 to 2032, reaching approximately USD 2.41 trillion by 2032. This Green Energy Market Analysis highlights the sweeping scale of investment and innovation driving the sector forward. Green Energy Market Size & Growth Snapshot • 2023 market size: USD
Pipeline Safety Market: Ensuring Integrity in Energy Transportation
Pipeline Safety Market: Ensuring Integrity in Energy Transportation
The global pipeline safety market is a critical component of energy infrastructure, ensuring the safe transportation of oil, gas, and other hazardous materials over vast distances. With rising demand for energy and increasing regulatory scrutiny, pipeline safety has become paramount in maintaining the integrity of these vital systems. This report delves into the factors driving the market, current trends, and future projections for this rapidly evolving industry. Pipeline Safety Market Overview

All 4 Releases


More Releases for Road

The Best Road Tripper Cars: Road Performance, Durability, and Comfort
Traveling in a car comes with a freedom that cannot be beat, with a chance to go anywhere at your will. For a weekend trip, a cross-country drive, or even a daily commute, having the proper car can make a significant difference. For long trips, comfort, efficiency, reliability, and enough cargo room make for an ideal car. In this article, we will go over the best cars for long trips
GWM Off-Road Family: Off-road Tech Dominating the Desert
October 4, 2024 -Great Wall Motor (GWM) once again showcases its prowess in the off-road realm at the Alxa Hero Festival, joining forces with off-road enthusiasts worldwide for an exhilarating celebration of technology and culture. This year, the highlight of the Dream Desert Park's T3 track is undeniably the GWM Off-Road Team, featuring a total of 108 vehicles across 36 groups, ready to take on the challenge. As a leader in
Off-Road Adventures : Exploring the Off-Road Vehicle Market 2021-2030
According to a recent report published by Allied Market Research, titled, "Off-Road Vehicle Market Size, Share, Competitive Landscape and Trend Analysis Report by Displacement, Vehicle Type, End Use Vertical : Global Opportunity Analysis and Industry Forecast, 2021-2030." The global off-road vehicle market was valued at $12,365.18 million in 2020, and is projected to reach $22,618.45 million by 2030, registering a CAGR of 7.3%. North America was the highest revenue contributor,
Vehicle Road Sign Assist Market Trends 2024: Enhancing Road Safety with AI
The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033. The Business Research Company presents an extensive market research report on the Vehicle Road Sign Assist Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments. Furthermore, the report highlights on emerging trends, significant drivers, challenges,
Minnesota Road Show
June 21, 2019 - Phoenix, AZ –Brian LoManto, Logistics Director and Laboratory Manager, visited clinics in the Rochester and Minneapolis, Minnesota area from May 27-30. Among the clinics located in Minnesota, he visited the Midwest Center for Reproductive Health and Mayo Clinic. For each clinic visited, it is themission of The World Egg Bank (TWEB) to educate them on the advantages of working with a dedicated egg bank, not just
Road Roller Market by Product Type (Static Road Roller, Tire Road Roller, Single …
A road roller, also known as roller-compactor or roller is a compactor type engineering vehicle, which is used to compact soil, gravel, concrete, or asphalt in construction of roads and foundations. In addition, road rollers are also used at landfills and in agriculture. The rolling process ensures that foundations are compacted thoroughly so the materials are compact, and do not come loose. Rollers are equipped with basic features such as