San Francisco, California, May 08, 2017 : The global road safety market is prognosticated to do well in the coming years as governments around the world are on their toes to enforce stringent laws for public security and road safety. In a report penned by TMR Research, titled “Road Safety Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” the burgeoning rise of the transportation industry is expected to optimistically affect growth.
The deployment of road safety solutions and systems could be extensively promoted due to a towering count of travelers and inflating road congestion, especially on highways and flyovers. This is anticipated to bode well for encouraging growth in the world road safety market. Upgradation of existing roads and swift urbanization in less developed nations making way for the development of new infrastructure are prophesied to bring in some reliable profits for players operating in the world road safety market.
However, the demand in the international road safety market could be impeded by inadequate government funding in developing countries and a massive portion of national budget reserved for road maintenance. This could create an imbalance in the implementation of modern road safety technologies due to budget insufficiency. Moreover, the widespread adoption of road safety systems could be inhibited by factors such as lack of awareness.
Nevertheless, there are ample of opportunities predicted to count on in the international road safety market. Participants can expect to attract revenue from the tremendous expansion of high-priority transportation infrastructure facilities and upcoming projects. Most companies functioning in the international road safety market are envisaged to develop products that focus on maximizing public safety on roads and high reliability. Companies could also consider expanding their product portfolio with various technologies for the purpose of curbing overall costs and improving efficiency. All of these factors are forecasted to augur well for the international road safety market.
Asia Pacific is envisioned to overtake all other geographies in the worldwide road safety market on the back of favorable government initiatives and exceptional economic advancement. The Philippines, China, India, and Australia could take to in-depth assessment of road safety projects, bettered agency capability, and mature strategic planning in order to sustain their growth in the Asia Pacific road safety market. Howbeit, North America is projected to lead the worldwide road safety market while riding on the existence of scores of solution providers and avant-garde technologies.
Some of the crucial players that could be profiled in the global road safety market report are Redflex, Motorola Solutions, Inc., Jenoptik, Kapsch AG, American Traffic Solutions, and Swarco AG.