Road Safety Market Size

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).

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. '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'

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.

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.

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.