Road Safety Market Trends and Segments Forecast To 2029
The global road safety market size was valued at USD 3.24 billion in 2022 and is poised to grow at a significant CAGR of 12.4% during the forecast period 2023-29. It also includes market size and projection estimations for each of the five major regions from 2023 to 2029. The research report includes historical data, trending features, and market growth estimates for the future. Furthermore, the study includes a global and regional estimation and further split by nations and categories within each region. The research also includes factors and barriers to the road safety market growth, as well as their impact on the market's future growth. The report gives a comprehensive overview of both primary and secondary data.
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The global road safety market segmentation:
1. By Solutions: Automatic License Plate Detection, Bus Lane Compliance, Red Light Enforcement, Speed Enforcement and Incident Detection System.
2. By Services: Managed Services and Professional Services.
The primary factors of the road safety market drivers are the increasing number of road accidents and fatalities. The road safety market report helps to provide the best results for business enhancement and business growth. It further helps to obtain the reactions of consumers to a novel product or service. It becomes possible for business players to take action for changing perceptions. It uncovers and identifies potential issues of the customers. It becomes easy to obtain the reactions of the customers to a novel product or service. It also enlightens further advancement, so it suits its intended market.
The road safety market research report gives a comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America was the largest region in the road safety market report, accounting for the highest share in 2021. It was followed by Europe, and then the other regions.
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The important profiles and strategies adopted by road safety market key players are Verra Mobility SWARCO Siemens Sensys Gatso Group Redflex Holdings Motorola Solutions Kapsch Trafficcom Jenoptik IDEMIA FLIR Systems Cubic Corporation, covered here to help them in strengthening their place in the market.
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