Road Safety Market Trend, Opportunities, Key Players, Growth Factors, Revenue Analysis, 2022-2030

The road safety market crossed US$ 4.5 billion mark in 2022 and is expected to hit US$ 10.24 billion by 2030, recording a CAGR of 10.6% during the forecast period.

The report includes an executive summary, regional economic outlook, and summary sections which provide a consistent analysis of the Road Safety Market 2022 - 2030. in addition, the report within the market overview section outlines PLC analysis and PESTLE analysis to provide a thorough analysis of the market. The overview section details Porter's 5 forces analysis that helps to reveal a possible situation of the market by revealing a competitive situation with respect to the Road Safety Market.

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The Road Safety market following are the manufacturers cover -
• Axis Communications AB
• Cubic Corporation
• SGS SA
• SNC-Lavalin Group
• Teledyne Flir LLC
• Kapsch TrafficCom AG
• Sensys Gatso Group
• Siemens AG
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Dahua Technology Co., Ltd.

The leading players of the Road Safety industry, their market share, product portfolio, company profiles are covered during this report. Key market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among Road Safety players will help the industry aspirants in planning their strategies. The statistics presented in this report are an accurate and helpful guide to shaping your business growth.

In this report, the road safety market has been segmented on the basis of:
• Component:
o Solutions
 Red Light & Speed Enforcement
 Incident Detection & Response
 ANPR/ALPR
 Others
o Services
 Professional Services
 Managed Services
• Region
o North America
o Europe
o Asia Pacific (APAC)
o South & Central America
o Middle East & Africa

The world population increased by approximately 2.5 billion people in the last thirty years. In most nations, especially developing nations, the migration of people from rural to urban areas is increasing at a steady pace. Such a growing urban population put increased stress on the roadways, which has also resulted in increased number of traffic incidents. As per the estimates of the United Nations, around 1.3 million deaths are caused by traffic accidents globally. Incidentally, such accidents cost most countries 3% of their gross domestic product (GDP). Such factors have been promoting the demand for various road safety solutions and services, in turn boosting road safety market growth. Different forms and types of services are availed in the road safety market.

Services can include testing the hardware or software installed, operating data processing centers, and shortlisting vendors for road safety system installation. In 2021, SNC-Lavalin was given a contract by the Texas Department of Transportation (DOT) for engineering and consulting services for the Interstate 45 corridor project. The consultation agreement is expected to provide the DOT with several benefits, including improving the safety of the roads. Such collaborations are expected to strongly boost road safety market growth.

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Growing interest in smart cities and roadways is a major factor accelerating the road safety market growth.
The world is witnessing a boom in connected devices, and several countries are investing in developing smart cities. Smart cities are technologically advanced urban areas that employ a variety of sensors and electronic methods for gathering data and utilizing it for the betterment of the locality. Smart cities are designed with long-term plans for managing traffic by optimizing transportation logistics and reducing congestion. Hence, along with smart cities, countries are also investing in developing smart roadways to provide a safer vehicle commute. With the increasing adoption of AI (Artificial Intelligence), data from different vehicles can collaborate with data from the smart roadways, and meaningful insights can be obtained. Data from vehicles can be utilized to understand the congestion level at specific road sections, report untoward incidents and enhance road safety among others. Such trends are expected to promote road safety market growth.

Recent strategic developments in road safety market
The road safety market has undergone several significant developments, and a few of these have been mentioned below:
• In June 2022, Axis Communications, a network video vendor, partnered with the Australian cities of Melbourne and Geelong to convert over 300 CCTV cameras to Axis' PTZ cameras for an unknown fee. The upgraded camera networks in the two cities will help with crime prevention, road safety, traffic control, and infrastructure planning.
• In February 2021, Hikvision, an IoT solution provider specializing in cameras, unveiled its newest traffic product, the All-Rounder ITS camera, which is aimed to improve road safety and traffic flow. The camera is capable of speed detection, traffic violation detection, automated plate identification, and vehicle attribute analysis among others.

This analysis report also presents practical and practical case studies to help you get a clearer understanding of the subject. This analysis report has been prepared through industry analysis techniques and presented in a professional manner by including effective information graphics whenever necessary. It helps ensure business stability and rapid development to achieve notable remarks within the Road Safety market.

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Table of Contents: Road Safety Market 2022 - 2030
Chapter 1: Overview of Road Safety
Chapter 2: Regional Market Status and Forecast by Regions
Chapter 3: Regional Market Status and Forecast by Types
Chapter 4: Regional Market Status and Forecast by Downstream Industry
Chapter 5: Market driving correlational analysis
Chapter 6: Market competition status by major makers
Chapter 7: Major manufacturer's introduction and market data
Chapter 8: Upstream and downstream market analysis
Chapter 9: Cost and gross margin analysis
Chapter 10: Marketing status analysis
Chapter 11: Market report conclusion
Chapter 12: Research methodology and reference

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