Road Safety Market Value
Road Safety Market Value
Growing demand for improved traffic safety, urbanization, population growth, and higher road safety investments are driving the global road safety market.
WILMINGTON, DE, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global road safety market generated $4.7 billion in 2021, and is projected to reach $14.8 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 𝟐𝟐𝟑 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A17227
The road safety industry is the result of deliberate and methodical efforts on the part of many sectors of society, including both government and non-government organizations, after these sectors have acknowledged it as a significant and valuable public good and have developed policies and programs to support and maintain it. Everybody should be extremely concerned about the alarmingly high and constant number of traffic fatalities. The number of accidents is rising in tandem with the sharp growth in the number of vehicles, particularly the recent influx of mini buses, sharing autos, omni buses, and minidors.
The rising death toll on roads in low- and middle-income nations, particularly in emerging economies, has played a significant role in the increase in traffic fatalities worldwide. The probability of experiencing a road traffic injury is influenced by a number of societal factors in many middle-income nations, including drinking and driving, excessive speed, traffic flow, and urban and infrastructure development. The rate of progress has been gradual even though the nations of the Region have been adopting and putting into practice several initiatives to lower traffic injuries. Therefore, these several factors have led to growing road safety industry.
According to road safety market analysis, the speed enforcement segment was the highest revenue contributor to the market, with $401.2 million in 2021, and is estimated to reach $1,232.9 million by 2031, with a CAGR of 12.1%. The section enforcement segment is estimated to reach $1,151.8 million by 2031, at a significant CAGR of 13.3% during the forecast period.
𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/road-safety-market/purchase-options
The outbreak of the COVID-19 has significantly impacted the growth of the road safety market. Rise in demand for enforcement solution across various sectors has significantly propelled the demand for road safety market during the pandemic. However, the emergence of third wave of COVID-19 across U.S. and UK is anticipated to affect the growth of road safety market in 2022. Moreover, the incident detection and response globally started to deploy road safety solution, and thus is expected to drive the growth of the road safety market analysis post pandemic.
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
The solution segment was the highest revenue contributor to the road safety market share, with $3,461.7 million in 2021, and is estimated to reach $11,815.0 million by 2031, with a CAGR of 13.3%.
The services segment of road safety market forecast is estimated to reach $2,972.7 million by 2031, at a significant CAGR of 9.8% during the forecast period.
The system integration and deployment segment was the highest revenue contributor to the market, with $526.1 million in 2021, and is estimated to reach $1,364.5 million by 2031, with a CAGR of 10.2%.
The ALPR/ANPR segment is estimated to reach $3,804.8 million by 2031, at a significant CAGR of 13.2% during the forecast period.
The speed enforcement segment was the highest revenue contributor to the market, with $401.2 million in 2021, and is estimated to reach $1,232.9 million by 2031, with a CAGR of 12.1%.
North America was the highest revenue contributor, accounting for $1,649.1 million in 2021, and is estimated to reach $5,560.2 million by 2031, with a CAGR of 13.2%.
𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: https://www.alliedmarketresearch.com/request-for-customization/A17227
The key players profiled in the report include Cubic Corporation, Dahua Technology, Flir Systems, Inc., IDEMIA, Jenoptik, Kapsch TraficCom, Redflex Holdings, Sensys Gatso Group AB, Siemens AG and VITRONIC. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the road safety market.
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
1. Robotic Process Automation Market https://www.alliedmarketresearch.com/robotic-process-automation-market
2. Remote Sensing Software Market https://www.alliedmarketresearch.com/remote-sensing-software-market-A07232
3. Prescriptive Analytics Market https://www.alliedmarketresearch.com/prescriptive-analytics-market
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