Road Safety Global Market Report 2024

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 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 $3.84 billion in 2023 to $4.27 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth observed in the historical period can be attributed to several factors, including the implementation of traffic laws and regulations aimed at enhancing road safety, advancements in vehicle safety technologies such as airbags and seatbelts, public awareness campaigns emphasizing the importance of road safety, the increase in urbanization leading to heightened vehicular traffic, and the establishment of law enforcement agencies dedicated to monitoring and enforcing road safety measures.

The road safety market size is expected to see rapid growth in the next few years. It will grow to $6.49 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the forecast period can be attributed to a surge in the adoption of Advanced Driver Assistance Systems (ADAS), the integration of Vehicle-to-Everything (V2X) communication for real-time safety alerts, the development and increased adoption of autonomous vehicles, the adoption of smart infrastructure and traffic management systems, and a growing focus on sustainable and eco-friendly transportation modes. Major trends expected in the forecast period include the use of data analytics for predictive analysis of potential road safety issues, the promotion of the Vision Zero movement, collaborative efforts among different stakeholders, the development of connected and intelligent crosswalks for pedestrian safety, and the promotion of active transportation.

The escalating number of road accidents and fatalities is playing a significant role in the anticipated growth of the road safety market. Road traffic accidents, involving two or more objects on the road leading to severe injury or death, underscore the importance of road safety systems. These systems monitor and identify threats to road safety while also educating and enforcing safety norms to prevent accidents. In 2021, the National Highway Traffic Safety Administration (NHTSA), a US-based Department of Transportation, reported 42,915 deaths in the US resulting from motor vehicle traffic crashes, reflecting a 10.5% increase from the 38,824 fatalities in 2020. Hence, the surging number of road accidents and fatalities is a driving force behind 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 stand out as a key trend gaining traction in the road safety market. Leading companies in the road safety sector are introducing new technologies to address complex issues and enhance existing solutions in road safety. For example, in February 2021, Motorola Solutions Inc., a US-based video equipment and telecommunications company providing road safety solutions, introduced a video-as-a-Service solution. This comprehensive package combines body-worn cameras, cloud-based support, and digital evidence management software for law enforcement organizations, expanding the company's product line.

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 September 2021, SWARCO, an Austria-based road safety company, completed the acquisition of Dynniq Mobility, a Netherlands-based road safety company, for an undisclosed amount. This strategic move is expected to expand SWARCO's presence in northern Europe and bolster its revenue stream. Dynniq Mobility focuses on enabling safe, sustainable, and efficient movement of people, data, and goods.

Major companies operating in the in the road safety market report are 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 2023. 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.


This product will be delivered within 3-5 business days.