/EIN News/ -- Chicago, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The Road Safety market is expected to grow from USD 3.7 billion in 2021 to USD 5.8 billion by 2026 at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period, according to report by MarketsandMarkets.  The increasing number of road accidents and fatalities owing to careless driving and poor weather conditions drive the need for the deployment of road safety solutions.
Browse in-depth TOC on “Road Safety market”

180 – Tables
45 – Figures
187 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93636585

Scope of the Report

Report Metrics	Details
Market size available for years	2016-2026
Base year considered	2020
Forecast period	2021-2026
Forecast year market size	USD 5.8 Billion
Estimated year market size	USD 3.7 Billion
Segments covered	By Component, And by Region.
Regions covered	North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Companies covered	JENOPTIK (Germany), Kapsch TrafficCom (Austria), Sensys Gatso Group (Sweden), IDEMIA (France), Teledyne FLIR (US), Motorola Solutions (US), Verra Mobility (US), SWARCO (Austria), Siemens (Germany), Cubic Corporation (US), Conduent (US), VITRONIC (Germany), Dahua Technology (China), Laser Technology (US), Traffic Management Technology (South Africa), Truvelo (UK), Kria (Italy), Syntell (South Africa), Clearview Intelligence (UK), Simicon (Russia), FRED Engineering (Italy), Kodiak Robotics (US), Humanising Autonomy (UK), Vebit AI (US), Connected Wise LLC (US), Saferoad (Germany), LiveRoad Analytics (US).

Incident detection and Response to have second highest market size during the forecast period

The incident detection system comprises cameras, fire and smoke detecting alarms, and communication networks connected to control room systems. An effective traffic management system provides the ability to identify and respond quickly to incidents on roadways and in tunnels. Incident detection and response solutions help to detect incidents such as collisions, stopped vehicles, and wrong-way drivers in demanding weather conditions. They also help monitor different levels of traffic flow and detect fires in tunnels leading to the higher adoption of incident detection and response solutions.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=93636585

Managed services segment to have second highest market size during the forecast period

The term outsourcing is commonly used to describe managed services. Managed services are considered important as they are directly related to customer experience. These services help companies remain competitive. Vendors provide managed services throughout the life cycle of the road safety market. These services start from procuring resources to deploying the latest solutions on the roads. They help government agencies reduce costs and deliver high-quality services. Cost reduction generally helps government agencies deploy infrastructures more efficiently, allowing information exchange between the already deployed infrastructure and the new infrastructure, thereby increasing the efficiency of the entire process.

Europe region to record the second highest growing region in the Road Safety market

Road accidents and their repercussions have been identified as a major societal concern by the European Commission. The considerable rise in vehicular traffic volume worldwide in recent decades, along with the lack of transportation infrastructure, has increased the necessity of monitoring and managing vehicular movements and guaranteeing a smooth flow of traffic. France, Greece, Israel, Italy, and Portugal are some Mediterranean countries where mopeds and motorcycles are largely used as a convenient transport, particularly among young people. Utilization of these in dense traffic areas, such as in busy urban areas and island holiday resorts, leads to high mortality rates and serious injuries. The factors responsible for such incidents include a combination of weak law enforcement of helmet-wearing and drink-driving and a lack of familiarity with local road conditions.

 Key and innovative vendors in the Road Safety market are JENOPTIK (Germany), Kapsch TrafficCom (Austria), Sensys Gatso Group (Sweden), IDEMIA (France), Teledyne FLIR (US), Motorola Solutions (US), Verra Mobility (US), SWARCO (Austria), Siemens (Germany), Cubic Corporation (US), Conduent (US), VITRONIC (Germany), Dahua Technology (China), Laser Technology (US), Traffic Management Technology (South Africa), Truvelo (UK), Kria (Italy), Syntell (South Africa), Clearview Intelligence (UK), Simicon (Russia), FRED Engineering (Italy), Kodiak Robotics (US), Humanising Autonomy (UK), Vebit AI (US), Connected Wise LLC (US), Saferoad (Germany), LiveRoad Analytics (US).

Browse Adjacent Reports: Information Security Market Research Reports & Consulting

Browse Other Reports:

Passwordless Authentication Market - Global Forecast to 2027

Digital Signature Market - Global Forecast to 2027

Digital Rights Management Market - Global Forecast to 2027

Anti-money Laundering Market - Global Forecast to 2027

About MarketsandMarkets™
                  
                  MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
                  
                  The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
                  
                  Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
                  
                  To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
                  
                  Contact:
                  Mr. Aashish Mehra
                  MarketsandMarkets™ INC.
                  630 Dundee Road
                  Suite 430
                  Northbrook, IL 60062
                  USA: +1-888-600-6441
                  Email: sales@marketsandmarkets.com