Press release
Rising Road Accidents Fuel Demand For Road Safety Technologies: A Key Factor Shaping the Future of the Road Safety Market in 2025
Road Safety Market Size
The surge in road accidents and incidents of death is playing a significant role in propelling the expansion of the road safety market. Road traffic accidents are categorised as crashes that involve two or more entities on the road resulting in serious injuries or fatalities. Road safety infrastructures are designed to detect and alert about potential risks to road safety, and they also work to instill and enforce road safety regulations to avert road mishaps. For example, a study released by the Bureau of Infrastructure and Transport Research Economics (BITRE), a government agency based in Australia dedicated to offering economic reviews and data associated with infrastructure and transportation, recorded road accident deaths in 2022 to be at 1,194, reflecting a 5.8 percent jump compared to the preceding year, 2021. Therefore, the escalating number of road accidents and deaths is fuelling the development of the road safety market.
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What growth opportunities are expected to drive the road safety market's CAGR through 2034?
The market size of road safety has experienced quick expansion recently. Expanding from $4.23 billion in 2024 to $4.68 billion in 2025, this sector is estimated to grow at a compound annual growth rate (CAGR) of 10.7%. The expansion observed in the historical period can be linked to the enforcement of traffic laws pertaining to road safety, developments in vehicle safety features such as airbags and seatbelts, campaigns promoting public consciousness about road safety, the rise in urbanization, increased levels of vehicular traffic, and the creation of regulatory bodies tasked with overseeing and promoting road safety.
Rapid expansion is anticipated for the road safety market over the upcoming years, with expectations to reach $7.23 billion by 2029, displaying a compound annual growth rate (CAGR) of 11.5%. The forecast period's growth can be linked to the escalating adoption of advanced driver assistance systems (ADAS), the incorporation of vehicle-to-everything (v2x) communication for instantaneous safety alerts, the increase in the creation and acceptance of autonomous vehicles, the adoption of intelligent infrastructure and traffic management systems, and the rising emphasis on sustainable and environment-friendly transport methods. Significant trends expected during the forecast period are the use of data analytics for predictive analysis of potential road safety hazards, the vision zero movement, collaborations among various stakeholders, the development of connected and smart crosswalks for pedestrian safety, and active transportation.
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What are the emerging trends shaping the future of the road safety market?
Techological advancements are becoming a prominent trend in the road safety market. Leading businesses within the sector are rolling out innovative solutions for addressing new and complex road safety concerns, and for enhancing currently implemented road safety measures. For example, in July 2023, Toyota's Collaborative Safety Research Center, which is based in the U.S., unveiled new research projects aimed towards the enhancement of road safety. These initiatives are concentrated on developing lane centering features to assist drivers, building in-vehicle intervention prototypes, and using data to improve driver decision-making abilities. Furthermore, Toyota has become a part of the Vulnerable Road User Injury Prevention Alliance, concentrating its research on preventing accidents that involve pedestrians and cyclists.
Which growth-oriented segments of the road safety market are leading the industry's development?
The road safety market covered in this report is segmented -
1) By Service: Consulting And Training, Support And Maintenance, Managed
2) By Solution: Light Speed, Bus Lane And Section Enforcement, ALPR Or ANPR, Incident Detection And Response, Other Solutions
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
Subsegments:
1) By Consulting And Training: Road Safety Audits, Risk Assessment Services, Driver Training Programs, Safety Workshops And Seminars
2) By Support And Maintenance: Safety Equipment Maintenance, Software Support Services, Incident Reporting Systems Maintenance
3) By Managed Services: Traffic Management Solutions, Road Safety Program Management, Fleet Safety Management Services
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What regions are leading the charge in the road safety market?
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
What companies are at the forefront of innovation in the road safety market?
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
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What Is Covered In The Road Safety Global Market Report?
•Market Size Forecast: Examine the road safety market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the road safety market for a structured understanding.
•Key Players Overview: Analyze major players in the road safety market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the road safety market.
•Segment Contributions: Evaluate how different segments drive overall growth in the road safety market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the road safety market.
•Industry Challenges: Identify potential risks and obstacles affecting the road safety market.
•Competitive Landscape: Review strategic developments in the road safety market, including expansions, agreements, and new product launches.
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