Market Challenges And Opportunities

Global Radar Speed Gun Market: Restraints

Major factor restraining growth of the market is the limited range of the radar system. The radar speed gun can measure speed of vehicles in a specified range, once vehicles cross this range, the speed gun is unable to send signals to the radar detector installed in the vehicle, which further limits safety of passenger while driving. This factor thus, hinders growth of the radar speed gun market

Growing number of road accidents across the globe is one of the major factors driving growth of the radar speed gun market

Major factor attributed to growth of the market is increasing number of road accidents globally. For instance, according to World Health Organization (WHO), an estimated 1.25 million road accidents were reported worldwide in 2013, out of which, around 93% road traffic deaths were reported in low- and middle-income economies and over 50 million people were injured by road accidents. Radar speed guns are used by traffic police to track the speed of motorcycles, cars, and trucks moving on the road, to further help drivers easily control the speed of vehicles, which in turn, helps avoid collisions and blind spot crashes among vehicles. Increasing adoption of radar speed guns is thus expected to increase road safety, in turn, reducing the rate of road accidents. These factors are thus expected to propel growth of the radar speed gun market in the near future.