Road Safety Market Size, Share, Trends, Growth 2032

The global road safety market size was worth around USD 3.61 billion in 2023 and is predicted to grow to around USD 14.71 billion by 2032 with a compound annual growth rate (CAGR) of roughly 16.90% between 2024 and 2032.

The assessment of road safety market dynamics gives a brief thought about the drivers and restraints of the road safety market along with their impact on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the road safety market on a global level.

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The report gives a transparent view of the road safety market. We have included a detailed competitive scenario and the portfolio of leading market vendors. To understand the competitive landscape in the road safety market, an analysis of Porter’s Five Forces model for the road safety market has also been included.

Road Safety Market: Growth Factors

Road safety basically refers to the measures and methods used to prevent accidents on the road. Typical commuters consist of cyclists, pedestrians, vehicle passengers, horse-riders, motorists, and people who use public transport, especially buses and trains.

The increasing proclivity toward commuters road safety and rising need to reduce road congestion are driving the growth of the global road safety market. Due to road safety, the rising concern for new infrastructural developments will help create the demand for road safety among commuters over the forecast time period. Moreover, the necessity to control the developing range of motors and manage its adverse outcomes on social cost and productivity, the need for road safety services and solutions is growing.

This, in turn, is propelling the global road safety market. The growing number of commuters and increasing traffic congestion on roads are also influencing the road safety market globally. Several technologies are being used to increase safety on bridges, highways, tunnels, and city roads. Safety measures for bridges and highways are anticipated to grow rapidly in the future. However, the lack of awareness and budget constraints related to road safety may restrain the road safety market growth in the years ahead.

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Road Safety Market: Segmentation

The study provides a crucial view of the road safety market segmenting it based on solution, service, and region.

The solution segment of the global road safety market includes red light enforcement, speed enforcement, bus lane enforcement and section enforcement, automatic license plate recognition/automatic number plate recognition, incident detection and response, and others.

By service, the market includes consulting and training, support and maintenance, system integration and deployment, and managed services.

All the segments of road safety market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Road Safety Market : Report Scope

Road Safety Market: Regional Analysis

The regional segment comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe.

The Asia Pacific region is expected to grow substantially in the global road safety market, owing to the numerous safety measures taken by the government and positive economic growth in the region. India, China, and Australia have introduced different strategies to introduce changes in the planning and implementation of security measures to overcome road incidents. Moreover, technological developments and increasing population in these regions are driving the demand for long distance commute and public transport.

The automation in the road safety market is another driving factor for the region’s road safety market, as it eliminates chances of error. Furthermore, the implementation of automatic license plate recognition/automatic number plate recognition will further fuel the market for road safety in the Asia Pacific.

Road Safety Market: Competitive Space

The global road safety market profiles key players such as:

• Jenoptik
• Sensys Gatso Group
• Kapsch Trafficcom
• Redflex Holdings
• Idemia
• FLIR Systems
• American Traffic Solutions
• Motorola
• Swarco
• Siemens

This report segments the global road safety market into:

Global Road Safety Market: Solution Analysis

• Red Light Enforcement
• Speed Enforcement
• Bus Lane Enforcement and Section Enforcement
• Automatic License Plate Recognition/Automatic Number Plate Recognition (ALPR/ANPR)
• Incident Detection and Response
• Others

Global Road Safety Market: Service Analysis

• Consulting and Training
• Support and Maintenance
• System Integration and Deployment
• Managed Services

Global Road Safety Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa