The Latin America, Middle East and Africa Road Safety Market size is expected to grow at a market growth of 13.3% CAGR during the forecast period. Road safety involves products and services introduced to prevent or in the least cases reduce risk of accidents, maintain traffic discipline, control and curb wayward vehicular movement and ensure safety of commuters. Rapid urbanization, growth in mobility and need for transportation systems, stringent government regulations pertaining to road safety and growing road accidents are the factors driving the growth of the market. On the other hand, insufficient government funding, challenges in the implementation of advanced road safety infrastructure, overly growing number of vehicles would limit the growth of the road safety market.
Based on Component, the market is segmented into Solution and Services. Solution type is further segmented into Enforcement Solution, Automatic License Plate RecognitionAutomatic Number Plate Recognition, Incident Detection & Response and Others. Enforcement Solution Market includes Red Light Enforcement, Speed Enforcement, and Bus Lane & Section Enforcement. Service Type is further segmented into Professional Services and Managed Services. Based on Countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA. The market research report covers the analysis of key stake holders of the Latin America, Middle East and Africa Road Safety Market.
Key companies profiled in the report include Thales Group S.A., IDEMIA, Flir Systems, Inc., Zhejiang Dahua Technology Co. Ltd., Jenoptik, Cubic Corporation, Sensys Gatso Group, Redflex Holdings, Traffic Management Technologies and Clearview Intelligence.
Related Reports:
North America Road Safety Market
Asia Pacific Road Safety Market
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