Road Safety Market is Projected To Reach USD 6037.1 Million By 2028 At A CAGR of 5.7% - Valuates Reports

BANGALORE, India, May 2, 2022 /PRNewswire/ -- Road Safety market is segmented by Type - Red Light Enforcement, Speed Enforcement, Incident Detection System, Bus Lane Compliance, Others, by Application - Bridges, Highways, Tunnels, Urban Roads, Others. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the  Vehicle Codes & Driving Laws Category.

The global Road Safety market size is projected to reach USD 6037.1 million by 2028, from USD 3979.3 million in 2021, at a CAGR of 5.7% during 2022-2028.

Major Factors Driving The Growth Of The Road Safety Market Are

The growing number of traffic accidents and fatalities necessitates the implementation of road safety solutions. This factor is expected to drive the growth of the road safety market.

Browse The Table Of Contents And List Of Figures At https://reports.valuates.com/reports/QYRE-Auto-23J5703/global-road-safety

TRENDS INFLUENCING THE GROWTH OF THE ROAD SAFETY MARKET

The rising number of road accidents and fatalities necessitates the deployment of road safety solutions, which can help to significantly reduce road fatalities. Speed and red-light enforcement, bus lane compliance, and section control are all areas where enforcement solutions can help. The location, time, reasoning, and other event-related information of fatalities/accidents would be identified using incident detection and response systems. It would cut down on the time it takes to respond to a crash. By providing precautions to prevent road fatalities, the overall benefits of road safety solutions and services are expected to reduce the number of road fatalities. This factor is expected to drive the growth of the road safety market.

The most common causes of fatal road traffic accidents, particularly at intersections, are red-light violations, illegal turning, driving in the wrong lane, and speeding. Traffic can be monitored and infringements prosecuted while saving resources by using innovative and individually adapted red light camera systems. All requirements can be met with a single device. As a result, traffic safety is improved, and accidents are reduced. This in turn is expected to drive the growth of the road safety market.

The red light camera systems use cutting-edge radar and induction loop technology, as well as high-resolution cameras.

The growing need for speed enforcement is expected to drive the growth of the road safety market. Road safety is improved by enforcing speed limits. Advanced systems contribute to a significant reduction in the number of accidents. Our equipment can be used at accident hotspots, busy intersections, traffic-calmed areas like kindergartens and nursing homes, as well as hazardous road sections like highways, tunnels, and country roads. It is possible to monitor specific locations or longer sections of the road.

As a road network expands to meet demand or improve access, traffic patterns become more complex. Because some parts of the road network are more congested than others, unplanned incidents can have an impact beyond the immediate area of the incident. As a result, there is a greater risk to human safety as well as economic loss. Computers are used to continuously monitor traffic conditions and detect incidents or traffic queues in Automatic Incident Detection (AID). This factor is expected to drive the road safety market.

Furthermore, the need for bus lane compliance is expected to fuel the road safety market. In real-time, the Bus Lane System can capture the plates of all vehicles traveling down a bus lane and compare them to a list of permitted, registered vehicles. To prove that the vehicle was moving along the lane, the system can take multiple images from an in-built overview camera for each plate read. Additional analytics can be used to estimate the captured vehicle's speed. The camera can be set to operate at specific times of day, giving local governments the flexibility to limit the system's use to times when bus schedules are busiest. Any data about usage violations can be sent via web services or exported from the camera to a network location.

Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Auto-23J5703/Global_Road_Safety_Market

ROAD SAFETY MARKET SHARE ANALYSIS

Based on region, Europe and North America are expected to be the most lucrative segments. This is attributed to the state-of-the-art road infrastructure coupled with high technology penetration.

Inquire For Customization: https://reports.valuates.com/request/customisation/QYRE-Auto-23J5703/Global_Road_Safety_Market

Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Inquire For Regional Report: https://reports.valuates.com/request/regional/QYRE-Auto-23J5703/Global_Road_Safety_Market

Key players

• Jenoptik AG,
• Kapsch TrafficCom AG
• Sensys Gatso Group AB.
• Redflex Holdings Limited
• 3M
• FLIR Systems, Inc.
• Swarco AG
• American Traffic Solutions
• Information Engineering Group, Inc

Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Auto-23J5703/Global_Road_Safety_Market

Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-23J5703&lic=single-userv

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

-  In 2020, the global Crash Cushions market size was USD 742.2 million and it is expected to reach USD 971.2 million by the end of 2027, with a CAGR of 3.9% during 2021-2027.

-  Road Stud and Delineator market size is estimated to be worth USD 2054.8 million in 2022 and is forecast to a readjusted size of USD 2657.5 million by 2028 with a CAGR of 4.4% during the review period.

-  The global Driver Assistance System (DAS) market size is projected to reach USD 85110 million by 2028, from USD 28240 million in 2021, at a CAGR of 16.6% during 2022-2028

-  The global Intelligent Transportation System (ITS) market size is projected to reach USD 1610.8 Million by 2028, from USD 901.4 Million in 2021, at a CAGR of 8.2% during 2022-2028.

-  The global Transportation Management System market size is projected to reach USD 6633.8 Million by 2026, from USD 2853.1 Million in 2020, at a CAGR of 15.1% during 2021-2026.

-  The global ADAS market size is estimated to be worth USD 29740 million in 2022 and is projected to reach USD 57760 million by 2028 with a CAGR of 11.7% during the forecast period.

-  The global Electronic Toll Collection market size is estimated to be worth USD 5033.8 Million in 2022 and is forecast to be a readjusted size of USD 6254.6 Million by 2028 with a CAGR of 3.7%.

-  Global Software for Road Safety Market Research Report 2022

-  Global Road Safety System Market Size, Status and Forecast 2021-2027

-  Global Intelligent Road System (IRS) Market Insights and Forecast to 2028

-  Global Traffic Safety System Market Insights and Forecast to 2028

-  Global Road Safety Barrier Market Insights, Forecast to 2028

Click Here To See Related Reports on Road Safety Market

About Us:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

Contact Us:

Valuates Reports
sales@valuates.com  |
For U.S. Toll-Free Call 1-(315)-215-3225 
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com 
Twitter - https://twitter.com/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg