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Road Safety Market to Grow by USD 1.80 Billion (2024-2028), Rise in Road Accidents Driving Growth, Report Highlights How AI is Redefining the Market – Technavio

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NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global road safety market size is estimated to grow by USD 1.80 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.45%  during the forecast period. Increase in number of road fatalities or accidents is driving market growth, with a trend towards adoption of connected vehicles and connected road infrastructure. However, lack of standardized and uniform technologies  poses a challenge. Key market players include Altumint, Belcons International doo, Clearview Intelligence Ltd., Conduent Inc., Cubic Corp., Dahua Technology Co. Ltd., IDEMIA France SAS, IEG America, Jenoptik AG, Kapsch TrafficCom AG, Laser Technology Inc., Motorola Solutions Inc., Sensys Gatso Group AB, Siemens AG, Stein Bildverarbeitungssysteme GmbH, SWARCO AG, Syntell Pty. Ltd, Teledyne Technologies Inc., and Verra Mobility Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Road Safety Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.45%

Market growth 2024-2028

USD 1809.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.42

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 29%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

Altumint, Belcons International doo, Clearview Intelligence Ltd., Conduent Inc., Cubic Corp., Dahua Technology Co. Ltd., IDEMIA France SAS, IEG America, Jenoptik AG, Kapsch TrafficCom AG, Laser Technology Inc., Motorola Solutions Inc., Sensys Gatso Group AB, Siemens AG, Stein Bildverarbeitungssysteme GmbH, SWARCO AG, Syntell Pty. Ltd, Teledyne Technologies Inc., and Verra Mobility Corp.

Market Driver

Connected vehicles and smart traffic lights are revolutionizing road safety through the Internet of Things (IoT). Vehicles can connect with mobile devices and be monitored and managed wirelessly. Smart traffic lights use cameras and radar sensors to detect real-time traffic flow and adjust signals accordingly, improving safety for vehicles and pedestrians. These systems are automated and linked to a main control room, where operators analyze camera footage to manage traffic patterns. The integration of connected vehicles and smart traffic lights will significantly drive the growth of the global road safety market. 

The Road Safety Market is experiencing significant growth due to increasing road traffic injuries and fatalities worldwide. Government agencies are prioritizing section enforcement and upgrading infrastructure to improve highway safety. Road safety products, such as incident detection systems and surveillance, play a crucial role in identifying and responding to traffic accidents. Smart cities and megacities are investing in security spending to enhance public safety and traffic mobility. Consulting and planning services are in high demand for implementing safety programs and initiatives. The threat landscape includes motorization and urbanization, making intelligent corridor and tag-based solutions essential for effective traffic management. Safety authorities collaborate with the National Safety Council and Land Transport Authority to address road accidents and improve health conditions. Upgrading road infrastructure and implementing advanced technologies are key trends in this market. 

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Market Challenges

The global road safety market faces challenges due to varying traffic regulations across countries. For instance, the US follows a left-driving rule, while European countries adhere to right-driving rules. These inconsistencies necessitate customized road safety solutions, hindering the development of standardized offerings. Additionally, many countries lack the financial resources to implement advanced road safety technologies fully. This resource constraint creates gaps in the adoption of road safety solutions, posing challenges to market growth during the forecast period.The road safety market is experiencing significant growth due to the increasing demand for advanced technologies to ensure transportation safety and mobility. Key challenges include capturing granular data on pedestrian, cyclist, and vehicle movement at intersections and capturing real-time images for ALPR/ANPR. Road safety solutions require integration of hardware components like cameras, radars, sensors, and software like Image-Processing, GIS, GPS, and Big Data. Communication and workflow protocols are essential for mass adoption, with a common protocol ensuring seamless data sharing between systems. Threats include social media misinformation and environmental impact. Road safety market offerings include smartphone applications, drones, virtual-reality simulators, and back-office systems for railroad crossing safety, red light enforcement, and speed enforcement. Data security is paramount, with solutions incorporating data encryption and access control. The market is expected to continue growing, driven by the need for road safety solutions that address road user behavior, road characteristics, operational environment, and road safety factors.

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Segment Overview

This road safety market report extensively covers market segmentation by

Component 1.1 Solution1.2 ServicesGeography 2.1 North America2.2 Europe2.3 APAC2.4 Middle East and Africa2.5 South America

1.1 Solution-  The Road Safety Market is a significant business sector focusing on providing products and services to ensure safe travel on roads. This includes vehicle safety systems, infrastructure solutions, educational programs, and emergency response services. Companies in this market aim to reduce accidents and save lives through innovation and collaboration with governments and organizations. They offer advanced technologies like collision avoidance systems, road sensors, and traffic management software to enhance road safety. The market is expected to grow due to increasing vehicle sales, government regulations, and rising awareness about road safety.

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Research Analysis

The Road Safety Market encompasses various solutions and services aimed at ensuring the safe transportation of goods and people on roads. In the current context, with the freight system playing a crucial role in the supply chain of essential goods, road safety has taken on renewed importance. Digital services, such as real-time traffic mobility information and advanced driver assistance systems, are transforming the transport sector, enhancing safety and efficiency. Road safety products, from highway safety barriers to vehicle safety systems, are essential for reducing road fatalities and ensuring the safety of transport operators and other road users. Safety authorities and traffic management systems work together to enforce regulations, manage congestion, and maintain optimal traffic flow, all contributing to the overall goal of enhancing road safety. The National Safety Council and other organizations play a vital role in advocating for road safety initiatives and raising awareness about best practices.

Market Research Overview

The road safety market encompasses various solutions and technologies aimed at enhancing transport safety in the freight system and ensuring the well-being of essential workers. Digital services play a crucial role, including traffic management solutions, transport demand management, and digitalization of business operations. Latest technologies such as computer vision, IoT sensors, artificial intelligence, and traffic management tools are employed to analyze granular data on pedestrian, cyclist, and vehicle movement. Road safety factors include road user behavior, road characteristics, and operational environment. Hardware components like cameras, radars, and sensors are integrated with communication protocols and back-office systems for mass adoption. Transportation safety solutions encompass mobility, environmental impact, and threat landscape considerations. Road safety data is collected and analyzed using technologies like ALPR/ANPR, incident detection systems, and surveillance. Government agencies and transportation operators collaborate on programs and initiatives to reduce road traffic injuries and fatalities. Road infrastructure upgrading and smart city development are key areas of investment, with spending on security and surveillance increasing in the face of evolving threats. Transport modes like railroad crossing safety, bus lanes, and speed enforcement are addressed through specialized solutions. Virtual-reality simulators, social media, and drones are also utilized in road safety efforts. Big Data analysis is integral to understanding road safety trends and optimizing road safety solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionServicesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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 17,000 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.

Contacts

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

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Banking Labs Inc Joins the ServiceNow Consulting and Implementation Partner Program to accelerate digital transformation and improve operational resilience

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This partnership will enable Banking Labs, with deep banking and technology expertise, to drive digital transformation success through the ServiceNow platform in banks

DALLAS, Oct. 13, 2024 /PRNewswire-PRWeb/ — Banking Labs Inc., today announced it has joined the ServiceNow Consulting and Implementation Partner Program to help North American banks accelerate their AI-powered transformation with delivery of measurable value-based success. The partnership enables Banking Labs to utilize its deep banking expertise and implementation knowledge to help customers accelerate digital transformation through the ServiceNow platform.

“Our AI-powered intelligence, strategy and innovative platforms accelerating banks to attain competitive advantage and growth,” said Dr. Ravi Gedela, CEO of Banking Labs.

The ServiceNow Partner Program recognizes and rewards partners for their varied expertise and experience to drive opportunities, reach new markets, and help joint customers transform businesses across the enterprise.

Banking Labs, an AI-powered financial intelligence company, provides strategic consulting and delivers innovative, transformative and sustainable Banking Solutions for the changing Financial Services marketplace. We differentiate in measuring contribution to client’s success by business growth, cost transformation, and operational efficiency improvement.

With our deep banking knowledge, exceptional data, cloud engineering, and Artificial Intelligence (AI) and Machine learning capabilities, this partnership will enable Banking Labs to bring best-in-class implementations of the ServiceNow platform to the financial services industry. By adopting ServiceNow, banks will be positioned to help clients better align their financial and operational realities with their long-term goals and priorities.

“Across North America, banks strive to continue and deepen the digital transformation to embrace AI to sustain growth, and to collaborate and integrate with external SaaS services, to accelerate delivery excellence and to drive more value creation with best customer experience,” said Dr. Ravi Gedela, Banking Labs CEO. “This partnership marks a significant milestone in our journey to deliver top-notch digital transformation solutions for banks. With the ServiceNow platform and our expertise, we are in a better position to help banks streamline their operations, enhance customer experiences, and drive innovation.

Consulting and Implementation partners leverage industry or domain expertise to guide customers on how to introduce and utilize ServiceNow solutions to help their businesses grow and succeed. Partners use ServiceNow resources to influence deals, track technology deployments, and drive adoption of new solutions.

About Banking Labs Inc

Banking Labs, AI powered financial intelligence company, offers innovative products and strategy and advisory services in banking domain and technologies. Our strategic partnerships with our clients allow us to produce business outcomes that automate, accelerate and derisk real-time financial transactions using our platform and strategic consulting. Banking Labs is actively engaged by CXO offices in the areas finance transformation, regulatory & compliance, Payments, channels, fraud, and risk management. To learn more, visit http://www.bankinglabs.com

ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries.

Use of Forward-Looking Statements

This press release contains “forward looking statements” about the expectations, beliefs, plans, intentions and strategies relating to the market opportunity and growth of the Now Platform. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. We undertake no obligation, and do not intend, to update the forward-looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include, among other things, any changes to the partner program and unexpected delays, difficulties and expenses in achieving market growth and/or opportunity. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.

Contact Information

Cassie M, Corporate Communications

Banking Labs Inc

connect@bankinglabs.com

+647 551 8989

Media Contact

Cassie M, Banking Labs Inc, 1 647 551 8989, connect@bankinglabs.com, www.bankinglabs.com

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Gate Ventures, Movement Labs, and Boon Ventures Launch $20M Fund to Accelerate Web3 Innovation

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SAN FRANCISCO, Oct. 13, 2024 /PRNewswire/ — Gate Ventures, a global venture capital firm specializing in blockchain; Movement Labs, a leader in Move-based blockchain technology; and Boon Ventures, a prominent investor in emerging tech startups, today announced the establishment of a groundbreaking $20 million fund designed to transform the Web3 space. This strategic alliance will invest in cutting-edge projects and accelerate the development of Move-based blockchain technologies.

The fund will concentrate on four key areas:

Accelerating the adoption of Move-based blockchain solutionsEnhancing security and performance in decentralized networksSupporting projects that bridge Move and EVM ecosystemsDriving innovation in Web3 infrastructure and applications

“This $20 million fund marks a significant milestone in our mission to drive forward-thinking solutions in the Web3 ecosystem,” said Kevin Yang, Managing Partner at Gate Ventures. “By collaborating with Movement Labs and other visionary projects, we’re paving the way for the future of decentralized technology.”

Rushi Manche, Co-Founder of Movement Labs added, “This $20 million fund is a game-changer for the Move ecosystem. It’s a powerful validation of what we’re building at Movement Labs. Move’s capabilities in security and scalability are setting new standards in Web3. This fund will specifically be used to support builders building the future of secure decentralized finance, fully on-chain gaming and consumer, as well as decentralized physical infrastructure efforts.”

Teerus Boon-Long, CEO of Boon Ventures said, “This is the beginning of a great journey forward in the Web3 space. It’s not aimed at short-term goals but at building a promising future for a decentralized society.”

The partnership leverages the unique strengths of each entity:

Gate Ventures brings extensive resources, a global network, and deep experience in Web3 investments, enabling strategic partnerships and growth opportunities.Movement Labs offers profound expertise in Move-based blockchain technology, infrastructure and ecosystem building.Boon Ventures has a successful track record of empowering innovative startups across multiple sectors through funding, mentorship, and strategic guidance.

To help achieve its goals, the fund will implement several key initiatives:

Organize global hackathons to stimulate innovation in Move-based technologies and attract top talent.Establish a mentorship program connecting industry veterans with promising Web3 startups to provide guidance and expertise.Create a research grant program to advance blockchain interoperability solutions, fostering cross-ecosystem collaboration.Host quarterly thought leadership summits to address pressing challenges in the Web3 space and drive collective progress.

As the fund deploys its $20 million, the partners are committed to fostering innovation and driving the Web3 space forward. They will provide updates on investments, collaborations, and leading-edge technologies that will define the future of Web3, blockchain, and decentralized applications.

About Gate Ventures
Gate Ventures is the venture capital arm of  Gate.io, one of the world’s largest and most trusted cryptocurrency exchanges, specializing in early-stage investments in blockchain technology and digital assets. Our mission is to drive innovation and foster growth across the global blockchain ecosystem. By collaborating with industry leaders worldwide, we support visionary teams and startups that have the potential to reshape social and financial interactions. As a long-term investor, we are committed to offering comprehensive support to our portfolio companies, from product development and operational scaling to global expansion. Follow Gate Ventures on X for more updates.

About Movement Labs
Movement Labs develops the Movement Network, an ecosystem of Modular Move-Based Blockchains. The company is creating the first Move Virtual Machine L2 for Ethereum, along with open-source tools to promote Move adoption across blockchains. Their platform enables developers to launch high-performance Move VM rollups easily, bridging Move and EVM ecosystems. Backed by $38 million in Series A funding, Movement Labs is advancing Move-based technologies and blockchain interoperability in Web3. Follow Movement Labs on X and on Discord for updates.Movement Labs is on a mission to create a global community of Move builders, working together to increase the security, performance, and user experience of building in decentralized networks.

About Boon Ventures
Boon Ventures is a single-family office spun out of the Boon-Long family, one of the longest-established families in Thailand, in 2015. Since then, it has served as the alternative investment and advisory arm of the Boon-Long family. Boon Ventures is an independent, fast-moving organization with a strong network and partnerships both in Thailand and globally, driven by a mission to foster innovative change, long-term growth, and sustainable value.

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

Photo – https://mma.prnewswire.com/media/2529336/Movement__Gate__Boon__1.jpg

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Here TV Announces the Return of Guys Like You for a Hilarious and Heartfelt Season Two

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Guys Like You returns for a captivating second season, continuing to explore Derek’s hilarious and heartfelt journey through the ups and downs of modern dating. Packed with comedy, drama, and relatable moments, the new season dives deeper into Derek’s search for love while keeping viewers entertained with its signature charm and chaos.

LOS ANGELES, Oct. 12, 2024 /PRNewswire-PRWeb/ — Here TV, the premier destination for LGBTQ+ content, proudly announces the return of Guys Like You for an exciting second season, which premiered on October 4, 2024. The series continues to follow the turbulent, funny, and undeniably messy dating life of Derek as he encounters a host of quirky, lovable, and sometimes questionable characters in his quest for love and self-discovery.

“This season really dives deeper into Derek’s journey, with even more outrageous encounters that will have viewers both laughing and feeling deeply,” said David Millbern, Head of Content for Here TV.

With its relatable depiction of the highs and lows of dating in today’s world, Guys Like You balances drama, comedy, and a whole lot of heat, offering audiences moments of laughter, heartbreak, and everything in between. Fans can expect to be entertained, challenged, and touched by the realness of Derek’s chaotic yet hopeful love life.

“This season really dives deeper into Derek’s journey, with even more outrageous encounters that will have viewers both laughing and feeling deeply,” said David Millbern, Head of Content for Here TV. “It’s a perfect blend of heart and humor, and we can’t wait for fans to experience what we have in store.”

“Working on this show has been a rollercoaster in the best way,” added producer Trystan Colburn. “Season two brings a new level of depth to Derek’s character while keeping the fun, chaotic energy the audience loves.”

Season two of Guys Like You continues the network’s legacy of delivering groundbreaking, diverse, and engaging content for the LGBTQ+ community and beyond.

About HERE TV

HERE TV is an Emmy Award-winning TV network dedicated to broadcasting LGBTQ+ content from around the world. With a comprehensive and diverse catalog of films, documentaries, and series, HERE TV provides a platform for a multitude of voices and stories within the LGBTQ+ community, driving inclusion and representation on-screen. HERE TV is available as a premium channel on all cable systems and IPTV platforms such as Xfinity, Charter, Amazon, Verizon, Apple, Roku, Google, and here.tv.

For press inquiries, please contact:

Scott Dearborn

scott.dearborn@heremedia.com

310-433-5741

Media Contact

Scott Dearborn, Here Media, 1 310-433-5741, scott.dearborn@heremedia.comhttps://www.heremedia.com/

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