Traffic baton is also known as a traffic wand; it is the device that is used to manage traffic. Increasing incidents of road accidents, violation of government traffic rules propels the growth of the traffic baton market growth during the forecast period. With significant growth in the urban population, growing investment in the modification of pre-existing traffic management systems is also fueling the traffic baton market growth.
MARKET SCOPE
The "Global Traffic Baton Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the traffic baton market with detailed market segmentation by size, end-user, and geography. The report provides key statistics on the market status of the leading traffic baton market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on size, the global traffic baton market is segmented into small, medium, and large.
- On the basis of end-user, the market is segmented into police officers, safety guards, and others.
MARKET DYNAMICS
Drivers:
- The rising investment in the development of road infrastructure and traffic management system witness the fastest growth of the global traffic baton market over the forecast period.
- Traffic baton finds a wide range of applications on airports, railway, metro, subway stations, malls and parks, theaters, institutions, and others for traffic management are expected to influence the traffic baton market growth in the coming years.
Restraints:
- Lack of awareness may hinder the growth of the traffic baton market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The traffic baton market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the traffic baton market in these regions.
IMPACT OF COVID-19 ON TRAFFIC BATON MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the traffic baton market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from traffic baton market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the traffic baton market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ASP, Inc.
- Bayco Products Inc.
- KLARUS Lighting Technology Co., Ltd
- Ledlenser
- Nite Beams Safety
- Siam Traffic Co.,Ltd.
- TAPCO - Traffic and Parking Control Co., Inc.
- Vanguard Group NZ
- WASIP Ltd.
- Wenzhou Highway Industrial Technology Co. Ltd