Market Overview:
Radar speed guns are electronic devices used to measure the speed of moving objects such as vehicles. They measure speed by detecting the Doppler shift of microwave beams reflected from a moving vehicle. Radar speed guns provide consistent and accurate speed measurements and are commonly used by law enforcement agencies to monitor traffic speed. The handheld radar speed guns are highly portable and easy to operate.
The global Radar Speed Gun Market is estimated to be valued at US$ 1421.5 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the radar speed gun market is the introduction of technologies such as Bluetooth and Wi-Fi connectivity in handheld devices. The connected speed guns allow remote monitoring of speeding vehicles through smartphones. The real-time speed data transmission helps law enforcement agencies to track speed violations remotely. The Bluetooth and Wi-Fi enabled devices are gaining popularity owing to convenience and effectiveness in monitoring traffic violations.
Segment Analysis
The global radar speed gun market can be segmented into stationary radar speed gun and moving speed gun. The stationary radar speed gun segment dominated the market in 2022, accounting for around 60% share. Stationary radar speed guns are preferred by law enforcement authorities across regions as they provide accurate speed measurement of vehicles from a fixed location. The segment is expected to witness healthy growth during the forecast period owing to increasing installation of stationary speed guns on highways by government agencies to curb speeding.
Key Takeaways
Market size
The global Radar Speed Gun Market Share is expected to witness high growth, exhibiting a CAGR of 8.5% over the forecast period, due to increasing road accidents caused due to overspeeding of vehicles.
Regional analysis
North America currently dominates the radar speed gun market, accounting for over 30% share regionally in 2022. Speed enforcement activities are intensely carried out by police departments in major countries such as the U.S. and Canada.
Key players
Key players operating in the global radar speed gun market are RCSpeeds, Stalker Radar, Geolux d.o.o, Escort Ltd, Mangal security products, Decatur Electronics Inc., Gvtel Communication System, M R Communications, Shenzhen Lutu Technology Co., LTD, rockymountainradar, and Ultra Mind Technologies India Pvt. Ltd. RCSpeeds and Stalker Radar together account for over 25% of the global market share.
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