About Road Safety
Road safety refers to the strategies and measures implemented to prevent road users from being killed or seriously injured. This encompasses a wide range of activities aimed at reducing the risk of accidents and minimizing the severity of injuries when accidents do occur. Key components of road safety include engineering, education, enforcement, and emergency response. Engineering involves designing safer roads and vehicles, such as improved road layouts, better signage, and advanced vehicle safety features like airbags and anti-lock braking systems. Education focuses on raising awareness about safe driving practices and road use through public campaigns, school programs, and driver education courses. Enforcement ensures compliance with traffic laws, including speed limits, seat belt use, and laws against driving under the influence of alcohol or drugs. Emergency response ensures that emergency services can quickly and effectively respond to accidents, providing medical care and clearing the scene to prevent further incidents.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Road Safety market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Jenoptik AG (Germany), Nokia (Finland), Kapsch TrafficCom AG (Austria), Sensys Gatso Group AB (Sweden), Harvest Partners (United States), Redflex Holdings Limited (Australia), FLIR Systems, Inc. (United States), Information Engineering Group Inc. (Canada) and Conduent Business Services, LLC. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are VITRONIC (Germany), Connected Wise LLC (United States), Motorola Solutions (United States), FRED Engineering (Italy) and Clearview Intelligence Limited (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Road Safety market by and Region.
On the basis of geography, the market of Road Safety has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Surveillance will boost the Road Safety market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. System Integration and Deployment will boost the Road Safety market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. Red Light & Speed Enforcement will boost the Road Safety market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Artificial Intelligence and Internet of Things
Market Growth Drivers:
Increasing Road Traffic Require Enhanced Safety and Technological Advancements Providing Real-Time Assistance to Drivers
Challenges:
High Implementation and Maintenance Costs
Restraints:
Climate and Environmental Factors Disrupting Road Conditions
Opportunities:
Government Initiatives for Public-Private Partnerships and Focus on Vulnerable Road Users for Safety Solutions
Market Leaders and their expansionary development strategies
In December 2023, Harvest Partners completed the acquisition of Road Safety Services, Inc. (RSS) from Parallel49 Equity. RSS, headquartered in Omaha, Nebraska, is a leading provider of pavement marking and other road safety-related services. This acquisition aims to accelerate RSS's growth and enhance its service offerings.
In May 2023, Nokia launched new Core network software solutions tailored for public safety and power utility field and wide area network (FAN/WAN) needs. This expansion broadens Nokia's portfolio for large-scale, mission-critical enterprises and governments, showing its commitment to pioneering private wireless solutions in the industry.
Key Target Audience
Government & Regulatory Bodies, Service Provider, Potential Investors, Market Research & Consultancy Firm and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.