Road Safety Industry Overview

The global road safety market size was evaluated at USD 3.07 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 17.5% from 2023 to 2030.

The market is gaining momentum owing to a surge in the number of road accidents and fatalities. The increasing need for public security and improvement in road infrastructure bodes well for market growth. Additionally, several governments around the world are taking steps to decrease traffic accidents through numerous programs and initiatives. In an attempt to curb the growing number of road accidents and fatalities, governments worldwide are focusing on maintaining traffic discipline and ensuring commuters' safety.

Gather more insights about the market drivers, restrains and growth of the Road Safety Market

Road safety products have witnessed several developments over the past few years. Earlier, to maintain traffic discipline, the operators installed red lights and speed monitoring services along roads and intersections. However, with increasing technological advancements, players focus on designing services combining red light and speed monitoring capabilities in a single unit. Furthermore, the growing preference for connected commercial vehicles is helping road safety solution providers implement solutions that can simultaneously collect vehicles and road infrastructure. Thus, investments in developing infrastructure that supports connected and autonomous vehicles provide new avenues for road safety solution providers. Companies can provide existing data to analyze road user behavior and traffic mobility and help in developing improved road infrastructure.

Globally, a rise in road fatalities has been a primary factor favoring road safety sales. As per the World Health Organization (WHO), road accidents lead to over 1.3 million deaths every year, with an average of 35 million people suffering non-fatal injuries resulting in disability or other health conditions. Therefore, highway safety has gained prominence, with governments worldwide promoting initiatives to lower these numbers. Further, growing awareness of public security has forced authorities to invest in road infrastructure. For instance, Singapore Government has launched the Smart Mobility 2030 strategic proposal, jointly developed by the Intelligent Transportation Society Singapore (ITSS) and the Land Transport Authority (LTA), Singapore. The initiative is aimed at deploying intelligent transport services to offer sustainable smart mobility solutions for commuters.

Browse through Grand View Research's Automotive & Transportation Industry Research Reports.

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Road Safety Market Segmentation

Grand View Research has segmented the global road safety market based on solution, service, and region:

Road Safety Solution Outlook (Revenue, USD Billion, 2018 - 2030)

• Red Light & Speed Enforcement
• Incident Detection & Response
• Automatic Number/License Plate Recognition (ANPR/ALPR)
• Others

Road Safety Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Professional Services
• Managed Services

Road Safety Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • South Africa

Key Companies profiled:

• American Traffic Solutions (Verra Mobility)
• Conduent
• Cubic Corporation
• Dahua Technology
• FLIR Systems, Inc.
• IDEMIA
• Jenoptik
• Kapsch TraficCom
• Motorola Solutions
• Redflex Holdings
• Sensys Gatso Group AB
• Siemens
• Swarco
• Teledyne FLIR
• Vitronic

Key Road Safety Company Insights

• August 2022, Conduent announced its partnership with Hayden AI (U.S.) to strengthen child safety with automated technology solutions designed with safety technology.  The solution combines computer vision and artificial intelligence and uses mobile cameras mounted on the exteriors of the bus, which are activated when the vehicle’s light flash and “stop arm” extends.

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