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2021
Safety Restraint Systems Market

Safety Restraint Systems Market by Solution (Red Light & Speed Enforcement, Incident Detection & Response, ANPR/ALPR, and Others), Services (Professional Services, and Managed Services: Global Opportunity Analysis and Industry Forecast, 2021–2027

A10076
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Dec 2021 | 388 Views
   
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COVID-19

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Safety Restraint Systems Market Outlook – 2027 

The safety restraint systems products are being introduced in the market to prevent and reduce the risk of accidents, maintain traffic discipline, control and curb wayward vehicle movement and ensure safe travel for commuters. The components of traffic safety include a median barrier, crash cushions, guardrail, and end treatments, truck escape ramps, and breakaway supports for signs and light standards. The constant need for road safety for reducing traffic, congestion, and commuters on the road, new infrastructure development, and longer commuting & many more are some of the factors which are going to boost the overall road safety market during the forecast period.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Solution and Service

  Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

Sensys Gatso Group, Swarco, Kapsch TrafficCom AG, FLIR Systems, Inc., Huawei Enterprise, Jenoptik AG, Redflex Holdings Limited, 3M, Motorola Solutions, American Traffic Solutions, and Information Engineering Group Inc.

 

COVID-19 scenario analysis:

  • In nearly every economy around the world either battling to cope with outbreaks of the COVID-19 virus or preparing and monitoring its anticipation, people’s lives have changed dramatically.
  • Work and travel restrictions in many countries mean that overall, it is likely that fewer journeys are being made. For road safety, this may be an upside as fewer journeys should theoretically mean less crashes.
  • The reduction in traveling has also been connected to reduced pollution levels across the globe as the pandemic was identified and containment measures applied across the globe.
  • Fewer people are taking public transport, either because transit services have been canceled partially or completely, or because people are avoiding it because they fear infection.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis 

Some of the factors that boost the market growth include rise in urban population and high demographic rates, rapid motorization, increase in number of road fatalities/accidents, and government initiatives for enhancing road safety. However, the lack of standardized and uniform technologies is anticipated to hamper the growth of the market. Furthermore, designing and developing connected vehicles compatible with its public-private partnership ecosystem and open data movement are expected to offer lucrative opportunities for the market growth during the forecast period.

The safety restraint system market trends are as follows:

Rise in urban population 

Half of the world’s population now lives in urban areas increasingly in highly-dense cities. However, urban settings are a relatively new phenomenon in human history. This transition has transformed the way we live, work, travel, and build networks. The growing urban population across the globe in many developed cities has created a huge market and demand as well which forced manufacturers to innovate and manufacture. The increase in urbanization over the globe is expected to boost the growth of the road safety restraint system market during the forecast period.

An increasing number of road fatalities/accidents 

The road accident severity measured has drastically increased by the number of persons killed per accidents. This has seen an increase over the last few years. Hence, the severity of road accidents has attracted the attention of the ministry of road transport and highways of every developed and developing economies across the globe. The government initiatives for enhancing road safety are expected to boost the road safety restraint system market growth during the forecast period.

Key segments covered:               

Segments

Sub-segments

  Solution

  • Red Light & Speed Enforcement
  • Incident Detection & Response
  • ANPR/ALPR
  • Others

  Service

  • Professional Services
  • Managed Services

Key benefits of the report:

  • This study presents the analytical depiction of the safety restraint systems market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the safety restraint systems market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the safety restraint systems market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed safety restraint systems market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the safety restraint systems market research report:

  • What are the leading market players active in the safety restraint systems market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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