Road Safety Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global road safety market will witness 9% CAGR from 2024 to 2032, fueled by rising concerns over traffic fatalities and the increasing implementation of advanced safety solutions. The World Health Organization (WHO) reports that road traffic injuries have become the primary cause of death for children and young adults between the ages of 5 and 29. In response, governments and organizations worldwide are prioritizing road safety measures to reduce these alarming statistics. The growing adoption of intelligent transportation systems (ITS), traffic enforcement cameras, and other advanced safety measures underscores the demand for robust road safety solutions.

The road safety market is categorized based on Component, Application, and Region.

The services segment of the road safety market will see substantial growth during the forecast period. Services such as traffic management, speed enforcement, and incident detection are becoming integral to ensuring safer road conditions. Governments and municipalities are increasingly relying on third-party service providers for the deployment and maintenance of road safety systems. These providers offer specialized expertise and state-of-the-art technology, enabling the efficient implementation of safety measures. The rising adoption of smart city initiatives and intelligent transportation systems further fuels the demand for road safety services, ensuring the market's steady expansion.

The highway application segment will capture a notable share of the road safety market by 2032. With highways being the most vulnerable to high-speed accidents, the implementation of advanced road safety measures is crucial. The deployment of technologies such as automated speed enforcement, real-time traffic monitoring, and emergency response systems is gaining traction on highways worldwide. These initiatives not only enhance the safety of commuters but also help in reducing the frequency and severity of accidents. The growing emphasis on reducing highway fatalities and improving traffic flow is driving investments in road safety solutions, contributing to the segment's growth.

Asia Pacific region will drive commendable gains in the road safety market from 2024 to 2032. Rapid urbanization, increasing vehicle ownership, and the rising incidence of road accidents in countries such as China and India are key factors fueling market growth. Governments in the region are investing heavily in infrastructure development and road safety initiatives to mitigate traffic fatalities. Additionally, the adoption of advanced technologies and smart transportation systems is gaining momentum in Asia Pacific, further boosting the demand for road safety solutions. The region's growing focus on enhancing public safety and reducing traffic-related injuries positions it as a major contributor to Global road safety market expansion.

Product Code: 6834

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Technology provider
- 3.2.2 Solution providers
- 3.2.3 Service providers
- 3.2.4 Distribution channel
- 3.2.5 End-user
- 3.2.6 Profit margin analysis
3.3 Technology and innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Increasing number of vehicles
  - 3.7.1.2 Urbanization and infrastructure development
  - 3.7.1.3 Increased focus on public safety
  - 3.7.1.4 Technological advancements
- 3.7.2 Industry pitfalls and challenges
  - 3.7.2.1 High implementation costs
  - 3.7.2.2 Integration with existing infrastructure
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Component, 2018 - 2032 ($Bn)

5.1 Key trends
5.2 Solutions
- 5.2.1 Enforcement
  - 5.2.1.1 Red light enforcement
  - 5.2.1.2 Speed enforcement
  - 5.2.1.3 Bus lane enforcement
  - 5.2.1.4 Section enforcement
- 5.2.2 Automatic license plate recognition (ALPR/ANPR)
- 5.2.3 Incident detection
- 5.2.4 Backoffice
- 5.2.5 Intelligent transport system
- 5.2.6 Traffic management system
- 5.2.7 Others
5.3 Services
- 5.3.1 Consulting
- 5.3.2 Support and maintenance
- 5.3.3 Integration
- 5.3.4 Deployment

Chapter 6 Market Estimates and Forecast, By Application, 2018 - 2032 ($Bn)

6.1 Key trends
6.2 Urban
6.3 Highway
6.4 rural
6.5 work zone safety

Chapter 7 Market Estimates and Forecast, By Region, 2018 - 2032 ($Bn)

7.1 Key trends
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 UK
- 7.3.2 Germany
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Russia
- 7.3.7 Rest of Europe
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 ANZ
- 7.4.6 Southeast Asia
- 7.4.7 Rest of Asia Pacific
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Rest of Latin America
7.6 MEA
- 7.6.1 South Africa
- 7.6.2 Saudi Arabia
- 7.6.3 UAE
- 7.6.4 Rest of MEA

Chapter 8 Company Profiles

8.1 American Traffic Solutions (ATS)
8.2 Axis Communications AB
8.3 Conduent, Inc.
8.4 Cubic Corporation
8.5 FLIR Systems, Inc.
8.6 IDEMIA
8.7 Iteris, Inc.
8.8 Jenoptik AG
8.9 Kapsch TrafficCom
8.10 Kria, Inc.
8.11 Laser Technology, Inc.
8.12 Motorola Solutions, Inc.
8.13 Optotraffic, LLC
8.14 Redflex Holdings Limited
8.15 Sensys Gatso Group AB
8.16 Siemens AG
8.17 SWARCO AG
8.18 Teledyne FLIR LLC
8.19 Verra Mobility
8.20 Vitronic GmbH
8.21 WSP Global