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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.
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:
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.
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.     Â
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Questions answered in the safety restraint systems market research report:
Safety Restraint Systems Market Report Highlights
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Key Market Players | Kapsch TrafficCom AG, Huawei Enterprise, Motorola Solutions, 3M, Swarco, Jenoptik AG, Sensys Gatso Group, American Traffic Solutions, FLIR Systems, Inc., Redflex Holdings Limited |
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