Road safety contains products and services that are being announced in market to safeguard and decrease the risk of accidents, manage the traffic discipline, control and curb wayward vehicle movement and confirm safe travel of commuters. The components of traffic safety comprise median barrier, crash cushions, guardrail, and end treatments; truck escape ramps and breakaway assists for signs and light standards.
According to the report analysis, ‘Global Road Safety Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use’ states that Jenoptik AG,, Kapsch TrafficCom AG, Sensys Gatso Group AB., Redflex Holdings Limited, 3M, FLIR Systems, Inc., Motorola Solutions, Swarco AG, American Traffic Solutions, Information Engineering Group, Inc and many more are the foremost entities which presently operating in the global road safety market more proficiently over the near future for keep maintaining the governing position, ruling around the globe, obtaining the competitive edge, leading the highest market growth, registering the great value of market share and generating the high percentage of revenue by employing the young and active personnel, establishing the countless research and development programs, delivering the better customer satisfaction, spreading the awareness connected to the benefits and features of road safety, increasing the applications and advantages of road safety, analysing the strategies and policies of government as well as similar entities, decreasing the associated prices of such, and implementing the policies profit making and strategies of expansion.
On the basis of types, the global road safety market is classified into red light enforcement, speed enforcement, incident detection system, bus lane compliance and several others. On the basis of applications, the global road safety market is categorized into bridges, highways, tunnels, urban roads and several others.
Aspects such as increased mobility, augmented the vehicle adoption, and increasing traffic are expected to augment the requirement for road safety. The construction of safer roads, advancing facilities to safeguard pedestrians and cyclists, and accepting safer riding initiatives would minimize road injury and underwrite to the health among the public. Therefore, the leading worldwide players are progressively concentrating on the production of goods that deliver road safety and incorporate systems into dissimilar technologies to improve performance at a lower cost, thus, influencing the growth of the road safety market. In addition, the foremost factors propelling the road safety market include growing urban population and high demographic rates, speedy motorization, growing number of road fatalities/accidents, and government initiatives for improving the road safety.
Throughout the COVID-19 pandemic, road fatalities observed a sharp decline. However, in the second quarter of 2020, traffic volume observed an increase with ease in lockdown restrictions. This period observed an increment in road fatalities caused majorly by drivers engaging in risky behavior by violating speed restricts, failing to wear seat belts, and being under alcohol influence. Therefore, traffic management and safety authorities around the globe kicked off a program to mitigate such incidences by underwriting in new road safety solutions. Therefore, in the near years, it is predicted that the market of road safety will augment more actively over the coming future.
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