Global Traffic Safety Products Market 2019-2023 | Increase in Development of Road Infrastructure to Boost Growth | Technavio

Technavio has published a new market research report on the global traffic safety products market from 2019-2023. (Graphic: Business Wire)

LONDON--()--The global traffic safety products market size is poised to reach USD 922.78 million by 2023, according to a new report by Technavio, progressing at a CAGR of over 6% during the forecast period.

“Apart from the rising number of road accidents, the development of traffic safety products made of ecofriendly and recycled materials and the automation in traffic safety products are some other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio. Request Free Sample Pages

The market is driven by the rising number of road accidents. In addition, increasing focus on development of road infrastructure is anticipated to further boost the traffic safety products market during the forecast period.

Globally, road accidents account for a significant share of the annual accident-related deaths. Most of these occur in the low-and middle-income countries where road safety monitoring frameworks are still being implemented. Incidences of over-speeding, drunken driving, distracted driving, non-usage of in-vehicle safety equipment, and unsafe road infrastructure are prominent causes of the recorded road accidents. In 2015, the UN General Assembly implemented the 2030 Agenda for Sustainable Development, which is supposed to be adopted by member countries by 2030. Thus, the member countries are investing in enhancing road safety by adopting efficient safety practices, including the use of road safety equipment to provide proper guidance to drivers.

Increasing population across the globe, coupled with the expanding industrial sector, is driving the need for rapid infrastructure development A fast and efficient road transportation network has become a necessity. Governments of several nations are focusing on widening of the existing roads and construction of new roads and highways, to mitigate the problem of traffic congestion and increase road safety. These measures are expected to boost the growth of the traffic safety products market over the forecast period.

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The report includes detailed profiles of the leading companies & prominent vendors of the market:

  • 3M Co.
  • Avery Dennison Corp.
  • Brady Worldwide Inc.
  • Honeywell International Inc.
  • Lindsay Corp.
  • RoadSafe Traffic Systems Inc.
  • Shenzhen Luming Traffic Equipment Co. Ltd.
  • SWARCO AG
  • Traffic Technologies Ltd.
  • Valmont Industries Inc.

Market Segmentation by Category and Product Types:

The Traffic Safety Products Market can be broadly categorized into the following end-user:

  • Municipal
  • Industrial and commercial

Key Regions for the Traffic Safety Products Market:

Featuring a breakdown of region wise market shares until 2019.

  • North America
  • Europe
  • APAC
  • South America
  • MEA

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

     

Market Sizing

  • Market definition
  • Market size and forecast

     

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global traffic safety products market size is poised to reach USD 922.78 million by 2023, according to a new report by Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com