USD 4,198.93 Million
Road Safety Market Size, Share, Growth Analysis, By Solution, By Service, By Technology, By Application, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45I2227 |
Region:
Global |
Published Date: December, 2024
Pages:
171
|Tables:
0
|Figures:
0
Road Safety Market Insights
Road Safety Market size was valued at USD 4,198.93 Million in 2023 and is poised to grow from USD 4910.23 Million in 2024 to USD 14692.76 Million by 2032, growing at a CAGR of 16.94% during the forecast period (2025-2032).
The growing concern towards people’s road safety along with the rising demand for reducing congestion in roads are factors that are driving the road safety market growth. Over the forecast time, growing focus on new infrastructural developments is increasing the demand for road safety from commuters, thus propelling market growth. In addition, the need for road safety services and solutions is increasing owing to the rising demand for monitoring the expanding reach of motors and regulating its negative impacts on social cost and productivity.
Rising commuters and the increasing trend of road traffic are currently driving the road safety market worldwide. Multiple technologies are implemented for enhancing safety on bridges, highways, tunnels and city roads. Bridges and highways safety is expected to grow at a fast pace over the next years. On the other hand, absence of awareness as well as budget constraints regarding road security can limit the growth of road safety industry in coming years. Moreover, the automation in road safety market is another factor driving the growth of regional road safety market since it eliminates scope for error. In addition to this, the growing adoption of automatic license plate recognition/automatic number plate recognition will also accelerate the Asia Pacific road safety market.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
16.94% CAGR
Global Road Safety Market ($ Bn)
Country Share for Europe Region (%)
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Road Safety Market Segments Analysis
Global Road Safety Market is segmented by solution, service, technology, application and region. Based on solution, the market is segmented into red light enforcement, speed enforcement, incident detection and response, automated license plate recognition (ALPR) and others. Based on service, the market is segmented into consulting and training, system integration and deployment and support and maintenance. Based on technology, the market is segmented into radar-based, laser-based and camera-based. Based on application, the market is segmented into urban roads, highways, bridges and tunnels. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Service
In 2023, the professional service segment dominated the road safety market share in terms of revenue. Professional services segment includes service integration, installation, training, consultancy and support and maintenance. There needs to be a certain level of calibration with the deployment of the gear along with periodic upkeep and observation. As a result, we have seen professional services drive industry growth either by itself and over the past couple of years it continues to do so for few more time to come.
It is projected that the managed service segment will register the fastest CAGR in the forecast period. As they are driven by dedicated vendors' end-to-end management and control, these services remain the most popular revenue choice for every end customer. This is due to the increased preference for service outsourcing by consumers leading to high growth in that segment. Furthermore, the ease of business and convenient outsourcing service availability is another factor strengthening the global managed services market demand.
Analysis by Product
In 2023, the red light & speed enforcement segment dominated the road safety market share in terms of revenue. These services were also set up to fine road takes at corners or in the middle of roads for over speeding. But there were advancements in technology and companies started concentrating on services that are fast and a signal device which is capable of monitoring red-light. These advantages in product design are driving the growth of the market and this is likely to continue over resuming period. For example, TraffiStar and Jenoptik offer a combination of speed monitoring and red light that utilizes high-resolution cameras to capture a traffic violation within four lanes.
The Automatic Number/License Plate Recognition (ANPR/ALPR) segment is expected to observe a fastest CAGR during forecast years. The ANPR/ALPR segment is witnessing high demand owing to diverse end-use applications, including road interactions, parking lots, private land (driveways), and schools. These solutions help us to track the vehicle in the situation of theft, crime and traffic violation. The services are also known for 24-hour monitoring even in low light or bad weather conditions, which further makes them preferred. The market apart from ANPR/ALPR is segmented into speed enforcement, red light, incident detection and response.
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Road Safety Market Regional Insights
In 2023, Europe held the largest share of the market in terms of region. The mature road infrastructure along with high technology penetration has been favorable for sales in Europe. The presence of several players with a prominent regional base as well as a large end customer base will continue to add to the overall market growth for this region. European countries have a mature attitude to road safety which is proactive rather than reactive. The total mortality rate from road accidents is lower in Europe than the average for the world but differs mainly among countries. Many countries in Eastern Europe are in the process of defining their road safety strategies to reduce the probability of such casualties.
During the forecast period, Asia Pacific is expected to grow at a fastest CAGR. The regional growth is boosted by the growing investments in the road infrastructure development and increasing demand for maintaining traffic discipline. Moreover, countries like China and India are vast landmasses with millions of roads and highways woven into to fabric of the region. All together these are boosting the growth of the market in Asia Pacific region due to rise in road construction & development in these countries. Vehicle sales in the region also is very strong whether it be private or commercial vehicles.
Global Road Safety Market By Geography
- Largest
- Fastest
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Road Safety Market Dynamics
Road Safety Market Drivers
Growing Urbanization Boosting Demand for Road Safety
- Increasing urbanization and motor car ownership bring about growing public streets, which in turn raises the necessity of security initiatives to assist decrease street accidents. Thus, increasing implementation of effective road safety initiatives to protect motorists and pedestrians in urban areas are anticipated to increase demand for road safety over the forecast period.
Adoption of Technology for Enhanced Road Safety
- The growth of road safety market is attributed to technological advancements such as advanced driver assistance systems (ADAS), collision avoidance system, and autonomous vehicles. These features improve safety by giving drivers immediate assistance, avoiding crashes, and creating a foundation for future safer transport ecosystems.
Road Safety Market Restraints
Cybersecurity Threats Concerning Road Safety Data
- Since information technology has become more integrated into the day-to-day life of people, dependency on subsequent information systems has also increased. However, data security and privacy have become a significant concern for the participants in this market. Advanced driver assistance technologies rely heavily on a variety of electronics, sensors and computing systems which are vulnerable to cyberattacks.
Lack of Global Standardization
- The complete road safety system is a combination of multiple hardware and software offered by more than one vendor. In addition, the camera, radar, sensor and tag specification as well as other equipment varies from company to company and is not universal across all underlying platform. Additionally, the presence of additional communication and network standards & protocols by various nations and regions limits the service provision capability of solution vendors worldwide.
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Road Safety Market Competitive Landscape
Small number of players are expected to dominate global market by deriving a massive share from the overall road safety industry. Key players in the road safety market, such as Kapsch Traffic Com, Cubic Corporation, Siemens & Sensys Gatso Group, are witnessing high demand for solution including intelligent transportation system, traffic management software and vehicle safety technologies. There is high degree of collaboration between public authorities and private sector players enabling road safety strategies to be more holistic. As safety focused towards public health and economy became a priority for governments, the global road safety market has remained in continuous growth unlocking opportunities for companies offering novel solutions that go beyond legislated compliance within jurisdictions across the transportation system.
Top Player’s Company Profile
- Jenoptik
- Kapsch TrafficCom
- Sensys Gatso Group
- Redflex Holdings
- Verra Mobility
- American Traffic Solutions
- FLIR Systems
- Cubic Corporation
- SWARCO
- Siemens AG
- Conduent
- Motorola Solutions
- Thales Group
- IDEMIA
- Vitronic
- Kria
- Laser Technology, Inc.
- Traffic Management Technologies
- Truvelo Manufacturers
- Syntell
Recent Developments
- Nokia launched Core network solutions in May 2023. This new solution will enhance the company’s offerings for large scale public safety offering.
- Sensyn Gatso Group extended their contract in June 2022 for operation and maintenance of Dutch fixed transportation systems. The company will operate speed and red-light enforcement.
- In 2022, Australian Government implement advanced road safety technology in 2.5 kilo meters long Nicholson Street in Melbourne. The road safety system is enabled with cloud-based AI, sensors, and machine learning algorithms.
Road Safety Key Market Trends
- Increasing Government Initiatives and Collaborations: The government initiatives for road safety across the globe provide opportunities for public-private partnerships, funding and regulatory support. This support enables the implementation of new safety features with improved road infrastructure, traffic management systems and awareness campaigns that brings together government agencies, businesses and interested parties to improve road safety at a larger scale.
- Growing Awareness Among Commuters: With the regional response to heightened awareness of vulnerable road users, opportunities exist for tailored safety solutions. They include infrastructure improvements such as protected lanes and crossings, in addition to education campaign initiatives and effective technology. These multi-faceted endeavors intend to stay away from crash and demise of users backing more secure street conditions for travelers through the conjecture time frame.
Road Safety Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, increasing number of road accidents & fatalities is contributing towards the growth of this market. The need for better public safety and betterment of road infrastructure is on the rise due to urbanization, improving awareness, and increasing number of vehicles on the road and this will be beneficial for the road safety market growth. Moreover, many governments in the world are working on reducing traffic accidents by offering various programs and initiatives. In order to minimize the rate of rapacious road accidents and deaths, governments around the globe are emphasizing traffic discipline in order to guarantee safety of a commuter.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4,198.93 Million |
| Market size value in 2032 | USD 14692.76 Million |
| Growth Rate | 16.94% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Road Safety Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Road Safety Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Road Safety Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Road Safety Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Road Safety Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Road Safety Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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