PUBLISHER: The Business Research Company | PRODUCT CODE: 1653331
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653331
Road safety encompasses strategies and tactics aimed at reducing the likelihood of individuals being involved in car accidents. It involves preventive measures to protect road users from severe injuries or fatalities through the dissemination of awareness using various tools such as road signs, fences, speed detectors, and more.
The primary types of services in road safety include consulting and training, support and maintenance, and managed services. Consulting and training in road safety involve educating the public on better road and traffic practices to mitigate accidents and fatalities. Various solutions are employed, including light speed enforcement, bus lane enforcement, selection enforcement, ANPR/ALPR (Automatic Number Plate Recognition/Automatic License Plate Recognition), incident detection and response, among others. The different types of vehicles considered in road safety efforts include passenger cars, light commercial vehicles, and heavy commercial vehicles.
The road safety market research report is one of a series of new reports from The Business Research Company that provides road safety market statistics, including road safety industry global market size, regional shares, competitors with market share, detailed road safety market segments, market trends and opportunities, and any further data you may need to thrive in the road safety industry. This road safety market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The road safety market size has grown rapidly in recent years. It will grow from $4.23 billion in 2024 to $4.68 billion in 2025 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to implementation of traffic laws and regulations for road safety, advances in vehicle safety technologies, including airbags and seatbelts, public awareness campaigns onThe importance of road safety, growth in urbanization and increased vehicular traffic, establishment of law enforcement agencies to monitor and enforce road safety.
The road safety market size is expected to see rapid growth in the next few years. It will grow to $7.23 billion in 2029 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to surge in adoption of advanced driver assistance systems (ADAS), integration of vehicle-to-everything (v2x) communication for real-time safety alerts, growth in the development and adoption of autonomous vehicles, adoption of smart infrastructure and traffic management systems, increasing focus on sustainable and eco-friendly transportation modes. Major trends in the forecast period include use of data analytics for predictive analysis of potential road safety issues, vision zero movement, collaboration between different stakeholders, development of connected and intelligent crosswalks for pedestrian safety, active transportation.
The rising incidence of road accidents and fatalities is playing a significant role in the growth of the road safety market moving forward. Road traffic accidents are defined as collisions involving two or more objects on the road that result in severe injuries or fatalities. Road safety systems are designed to monitor and identify threats to road safety, as well as to educate and enforce safety regulations to prevent accidents. For example, in May 2023, a report from the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australian government agency that provides economic analysis and statistics related to infrastructure and transport, indicated that road crash deaths reached 1,194 in 2022, reflecting a 5.8 percent increase compared to 2021. Therefore, the increasing number of road accidents and fatalities is driving the growth of the road safety market.
The growth of the road safety market is expected to be propelled by the increasing issue of traffic congestion. Traffic congestion occurs when the flow of vehicles on roads or transportation networks is significantly impeded, leading to slower movement and disruptions. Road safety measures become crucial in mitigating traffic congestion by reducing accident frequency and subsequent disruptions. In 2023, the 2022 Global Traffic Scorecard by Inrix, a US-based software company, revealed that the average American driver spent 51 hours stuck in traffic, equating to approximately one hour per week. This marked an increase from the 31 hours lost to traffic congestion in 2021. Thus, the escalating traffic congestion is a driving factor for the road safety market.
Technological innovations are a significant trend gaining traction in the road safety market. Major companies in this sector are developing new solutions to address complex and emerging road safety challenges while also enhancing existing solutions in use. For example, in July 2023, Toyota's Collaborative Safety Research Center, a US-based research initiative, announced several new research projects aimed at improving road safety. These projects concentrate on creating driver support features for lane centering, developing in-vehicle intervention prototypes, and leveraging data to improve driver decision-making. Moreover, Toyota has joined the Vulnerable Road User Injury Preventi
Major players in the road safety market are rolling out cloud-based platforms, such as Safety View by GM Future Roads and Inrix, to elevate road safety standards. Safety View is a cloud-based connected vehicle platform developed by General Motors, a US-based automotive manufacturing company, and Inrix, a US-based software company. Launched in August 2022, this platform offers critical insights and data to transportation planners and officials. It utilizes crash data, vehicle information, vulnerable road user data, and U. S. Census data to assist in prioritizing and assessing the impact of roadway safety projects. The goal is to enhance road safety by providing real-time insights and data analytics, empowering officials to make informed decisions for improving roadway networks.
In December 2023, Harvest Partners, a US-based private equity firm, acquired Road Safety Services, Inc. (RSS) for an undisclosed sum. This acquisition is intended to boost the growth and operational efficiency of Road Safety Services, highlighting the growing significance of road safety services. Road Safety Services, Inc. is a US-based provider of road safety solutions.
Major companies operating in the road safety market include Kapsch TrafficCom AG, Sensys Gatso Group, Redflex Holdings Pty Ltd., Verra Mobility Corp, Teledyne FLIR LLC, Motorola Solutions Inc., Information Engineering Group Inc., Cubic Corporation, Siemens AG, Conduent Inc., Vitronic Machine Vision Ltd., Laser Technology Inc., Syntell Inc., Clearview Intelligence Group Ltd., Zhejiang Dahua Technology Co. Ltd., Truvelo Specialised Manufacturing Ltd., Jenoptik AG, Idemia Identity & Security India Private Ltd., TriFoil Imaging, Swarco Industries Inc., Traffic Management Technologies, Kria Infotech Private Ltd., Simicon GmbH, Minnesota Mining and Manufacturing Company, Flir Systems Inc., Redflex Holdings Limited, JSP Ltd., Heskins Ltd., Iteris Inc., 3M Company
North America was the largest region in the road safety market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the road safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the road safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The road safety market includes revenues earned by entities by providing rescue operation services, vehicle safety inspection and maintenance, vehicle crash management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Road Safety Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on road safety market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for road safety ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The road safety market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.