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Newark, NJ, May 06, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the size of the
global road safety market was valued at USD 2.7 billion in 2020 and is expected to grow at a compound annual growth rate CAGR of 11.2% from 2021 to 2028.
The market is expected to experience a slight decline due to the outbreak of the COVID-19 pandemic. Companies are seeing a decline in revenue in first-quarter results. The biggest impact on entrances is due to the stop arm of the school bus and the school area cameras' products. This decline is attributable to the closure of schools in the countries due to the coronavirus's spread and the vulnerability of children's health. According to the World Health Organization, road accidents attributed to around 1.4 million deaths each year. In addition, more than 20 million people suffer from non-fatal injuries that result in disabilities and other health conditions. Therefore, the provision of safe road infrastructure to prevent accidents and deaths is expected to positively affect the market over the forecast period.