Road Safety Market Size (2024 - 2029)

Road Safety Market Analysis

The road safety market is expected to witness a CAGR of 7.6% during the forecast period. The huge increase in accidents and fatalities worldwide drives the expansion of the road safety market.

• Growing urbanization and rising demographic trends, rapid motorization, rising road fatalities and accidents, and government attempts to promote road safety are significant factors driving the road safety market.
• Road safety has become critical for passengers, cars, drivers, and pedestrians. Road safety products include products and services that prevent and reduce the risk of accidents, control and curb errant vehicle movement, maintain traffic discipline, and assure commuter safety.
• The number of road fatalities increased, primarily due to drivers engaging in unsafe conduct such as exceeding speed limits, neglecting to wear seat belts, and alcoholic driving. Thus, traffic management and safety authorities worldwide launch programs to reduce such incidents by investing in new road safety systems, leading to a marked growth of the market.
• Governments take initiatives to achieve a significant improvement in road safety. For instance, according to the Ministry of Road Transport and Highways of India, steps are being taken to ensure that safety features are built-in at the design, manufacture, usage, operation, and maintenance stages of motorized and non-motorized vehicles following international standards and practices to minimize adverse safety and environmental effects of vehicle operation on road users (including pedestrians and bicyclists) and infrastructure.
• Moreover, the Ministry of Transportation of Kuwait undertook a project to reduce traffic accidents. Jenoptik approved the project and delivered and installed 60 TraffiTower 2.0, 40 non-invasive measuring systems, and 120 external flash units in collaboration with First Joint Group. The traffic cameras and measurement systems are accurate, dependable, and efficient. The First Joint Group also aims to use the current infrastructure and an enhanced traffic strategy to avoid traffic congestion and accident black spots.
• Companies invest extensively in developing new technologies that integrate artificial intelligence, cameras, and sensors to identify traffic difficulties. For instance, Transoft Solutions (ITS) Inc. provides solutions that assist urban planners in collecting, monitoring, and analyzing traffic data. An in-depth examination of the acquired data is beneficial in understanding road user behavior and traffic flow. This information assists city planners in making more educated and effective transportation infrastructure decisions.
• New South Wales collaborated with partners, stakeholders, and members of the NSW community in establishing the 2026 Road Safety Action Plan. Their consultations were well-attended and eventually aided in the developing several programs. The Engagement Summary for the 2026 Road Safety Action Plan gives a snapshot of the engagement activities and responses received throughout NSW during the consultation. These actions support the growth of the NSW region's road safety market.

Road Safety Industry Segmentation

The road safety market relates to the safety and protection of passengers, vehicles, drivers, and pedestrians while driving. The study covers important market parameters, underlying growth influencers, and major industry vendors that support road safety market estimations and growth rates during the forecast period. The research examines COVID-19's overall impact on the road safety system market.

The road safety market is segmented by solution (red light enforcement, speed enforcement, bus lane enforcement, and section enforcement, automatic license plate recognition/automatic number plate recognition (ALPR/ANPR), incident detection and response), by services (consulting, support, and maintenance, integration and deployment), and by geography.