Road Safety Market 2024-2028: Size and Lack of standardized and uniform technologies; growth driven by the Component, Some of key Companies Positioned Strategically

The road safety market size by Component (Solution and Services) and Geography (North America, Europe, APAC, Middle East and Africa, and South America), is forecast to increase by USD 1809.6 million. The market is expected to grow at a CAGR of   9.45% between 2024 and 2028.

• The global road safety market faces significant challenges due to the inconsistency of traffic laws and regulations across regions. For instance, left-driving rules in the US contrast with right-driving rules in European countries. This necessitates customized solutions from providers, hindering the development of standardized offerings. Furthermore, financial constraints in several countries hinder the implementation of advanced road safety technologies, creating disparities and impeding market expansion during the forecast period.
• In North America, the road safety market holds the largest market share globally, with the US leading the revenue generation. Key growth drivers include escalating road accidents, resulting in approximately 38,000 fatalities and 4.4 million injuries annually, and substantial economic losses estimated at USD850 billion. These statistics underscore the significant business opportunity for road safety solutions in this region.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• Altumint
• Belcons International doo
• Clearview Intelligence Ltd.
• Conduent Inc.
• Cubic Corp.
• Dahua Technology Co. Ltd.
• IDEMIA France SAS
• IEG America
• Jenoptik AG
• Kapsch TrafficCom AG
• Laser Technology Inc.
• Motorola Solutions Inc.
• Sensys Gatso Group AB
• Siemens AG
• Stein Bildverarbeitungssysteme GmbH
• SWARCO AG
• Syntell Pty. Ltd
• Teledyne Technologies Inc.
• Verra Mobility Corp.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/