Press Release
Press Release
The growing awareness regarding vehicular safety and the increasing efforts to lower the risks of road accidents are the major factors driving the road safety market growth. The growing technological integrations such as the use of advanced sensors to detect high speed, installation of advanced cameras, and development of solutions to offer improved tracking and navigation solutions are favouring the growth of the market.
The market for road safety is expected to grow at a high rate propelled by the growing demand for road safety solutions and services in regions like North America, Europe, and the Asia Pacific. An expanding logistics sector is propelling the demand for larger and heavier trucks, increasing the consumer focus on road safety. With a rising number of large vehicles on the road, road safety is especially important for consumers driving smaller vehicles and pedestrians. The rising number of road accidents is further driving the demand for solutions that can help minimise risks of accidents and provide enhanced safety to passengers.
The market is characterised by research to develop more efficient road safety platforms. In March 2022, Vodafone Group Plc (NASDAQ: VOD) launched a platform, ‘Safer Transport for Europe Platform’ to connect road users directly with transport authorities to enable faster and more efficient real-time sharing of road safety information.
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The major players in the road safety market are Jenoptik AG, Kapsch TrafficCom AG, Sensys Gatso Group AB, Verra Mobility Corporation, Teledyne FLIR LLC, and Motorola Solutions, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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