Nowadays, there is continuous development of intelligent transport systems (ITS) that can improve the safety and efficiency of road transport while improving user comfort and convenience. By using intelligent transport systems (ITS) technologies can also improve road safety with the help of advanced traveller information systems as well as convenience and entertainment systems. In the road safety system mainly four technologies are used such as collision avoidance, driver status and performance, speed control, and automated enforcement for lessening the number or severity of road crashes. The road safety system offers various benefits such as increase safety, enhance mobility, reduce congestion, minimize environmental impact, and promote economic productivity for a healthier economy. The reliability of such benefits drives the road safety systems market growth.
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Road Safety Systems Market: Drivers and Challenges
The major factor which is driving the road safety systems market is the increasing urban population and rapid motorization, rising number of road fatalities/accidents, high demographic rates, and government initiatives for enhancing road safety throughout the world. Also, the growth of the road safety systems market is boosting due to the designing and development of connected vehicles compatible with ITS, open data movement, and increasing public-private partnership for road infrastructure development. For instance, the federal government of the U.S. has launched the Road to Zero creativity to reduce traffic fatalities by 2050. The increasing demand for road safety systems to maintain traffic discipline and prevent road accidents as well as improvement in road infrastructure advancement with the help of information technology is creating potential growth opportunities for road safety systems market.
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Road Safety Systems Market: Regional overview
By geography, the road safety systems market has been segmented into North America, Europe, Latin America, East Asia, South Asia & Pacific, and MEA. Among these regions, North America & Europe are expected to dominate the global road safety systems market due to the presence of the majority of key vendors of the road safety system in these regions. In East Asia and South Asia & Pacific are projected to grow at the highest CAGR during the forecast period, due to the increasing demand for road safety solutions and services in countries such as China, Japan, India, & Australia, and large public transit infrastructure developments.
The road safety systems market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The road safety systems market report also maps the qualitative impact of various market factors on market segments and geographies.
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