Press release
Road Safety Industry to Achieve $7.14 Billion Growth by 2029
Road Safety
How Will the Road Safety Market Grow by 2025 in Terms of Size and Growth?
In recent times, there has been a swift expansion in the size of the road safety market. The predictions for its growth are optimistic, with an expected increase from $4.23 billion in 2024 to $4.65 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.0%. Factors behind this considerable growth during the historical period include the enforcement of traffic rules aimed at promoting road safety, enhancements in automobile safety features like airbags and seatbelts, public campaigns emphasizing the significance of road safety, surge in urbanization leading to increased vehicular traffic and the formation of regulatory bodies to supervise and implement road safety measures.
What Are the Estimated Growth Rates for the Road Safety Industry Through 2029?
In the coming years, the road safety market is anticipated to experience accelerated growth. The market is projected to increase to $7.14 billion by 2029, with a compound annual growth rate (CAGR) of 11.3%. This growth during the predicted period might be due to the increased adoption of advanced driver assistance systems (ADAS), the incorporation of vehicle-to-everything (v2x) communication for immediate safety warnings, the growth in the creation and acceptance of autonomous vehicles, the adoption of smart infrastructure and traffic management systems, and an increasing emphasis on sustainable and eco-friendly transportation modes. The forecasted period is expected to see trends such as the use of data analytics to predict potential road safety issues, vision zero movement, collaboration among various stakeholders, the creation of connected and intelligent crosswalks for pedestrian safety, and active transportation.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/road-safety-global-market-report
What Are the Strategic Drivers Boosting Road Safety Market Performance?
The growth of the road safety market is being significantly fueled by the rising number of road accidents and fatalities. Road traffic accidents are characterised by collisions between two or more entities on the road, resulting in severe injuries or death. Road safety systems work by monitoring and detecting potential hazards on the road, and by propagating and enforcing road safety rules in order to prevent accidents. For instance, a report released in May 2023 by the Bureau of Infrastructure and Transport Research Economics (BITRE), a government agency in Australia specializing in economic analysis and stats related to infrastructure and transport, showed that in 2022, there was an increase in road crash fatalities to 1,194, which represents a 5.8 percent rise compared to 2021. As such, the escalating number of road accidents and deaths is spurring the growth of the road safety market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7713&type=smp
What Are the Segments in the Road Safety Market?
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
What Are the Key Adoption Trends in the Road Safety Market?
The primary trend gathering momentum in the road safety market is technological innovations. Numerous esteemed companies in the field are introducing inventive solutions to tackle novel and intricate road safety problems, while also enhancing the effectiveness of currently implemented measures. For instance, in July 2023, Toyota's Collaborative Safety Research Center, a research initiative based in the US, publicized new projects geared towards enhancing road safety. These projects are centered around devised driver aid features for lane centering, development of in-car intervention prototypes, and leveraging data to improve driver decision-making. Moreover, Toyota has partnered with the Vulnerable Road User Injury Prevention Alliance, contributing to research aimed at preventing accidents involving pedestrians and cyclists.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=7713&type=smp
Which Companies Lead the Competitive Landscape of the Road Safety Industry?
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
Where Are the Key Road Safety Market Opportunities by Region?
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
Speak With Our Expert:
Saumya Sahay,
Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Road Safety Industry to Achieve $7.14 Billion Growth by 2029 here
News-ID: 4256815 • Views: …
More Releases from The Business Research Company
Comprehensive Insights Into The Global Electric Bikes And Scooters Market: Key G …
The electric bikes and scooters report outlines and analyzes the electric bikes and scooters (excluding e-mopeds or 2-wheelers) market, covering the historic period 2019-2024 and the forecast period 2024-2029 and 2034F. The study examines the market across all regions and major regional economies.
The global electric bikes and scooters (excluding e-mopeds or 2 wheelers) market was valued at approximately $43.09310 billion in 2024, reflecting a CAGR of 12.12% since 2019. The…
Geothermal Heat Pump Market Report 2025: Size, Trends, and Key Growth Insights f …
The geothermal heat pump report outlines and analyzes the geothermal heat pump market, covering 2019-2024 as the historic period and 2024-2029, 2034F as the forecast period. The report examines the market across every region and assesses major economies within each region.
The global geothermal heat pump market reached $4.40620 billion in 2024, increasing at a CAGR of 5.70% since 2019. The market is projected to grow from $4.40620 billion in 2024…
Major Growth Driver Identified in 2025 VFX In Advertising Market: The Rise Of So …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
VFX In Advertising Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past several years, the market size of vfx in advertising has seen robust growth. It is expected to expand from $2.8 billion in 2024 to a staggering $3.03 billion in 2025, exhibiting…
Driving Web Content, Search Portals And Social Media Market Growth in 2025: The …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Web Content, Search Portals And Social Media Market Size Growth Forecast: What to Expect by 2025?
The market size for web content, search portals, and social media has seen quick expansion in the past few years. It's projected to expand from $682.14 billion in 2024 to $768.29 billion in…
More Releases for Safety
Water-Filled Barricades Market Report Analysis, Research Studies | OTW Safety, S …
DataM Intelligence has published a new research report on "Water-Filled Barricades Market Size 2024". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.
Get a Free Sample Research PDF -…
Safety Eyewear Market Size Development Trends, Analysis and Forecast by 2028 | B …
Global Safety Eyewear Market is an exploration report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. These bits of knowledge offered in the Safety Eyewear Market report would benefit request players to define systems for the future and gain a solid situation in the worldwide market request development.…
Welding Safety Market Business Opportunities 2026 - Top Companies are 3M Welding …
A new research study has been presented by Dataintelo.com offering a comprehensive analysis on the Global Welding Safety Market where user can benefit from the complete market research report with all the required useful information about this market. The report discusses all major market aspects with expert opinion on current market status along with historic data. This market report is a detailed study on the growth, investment opportunities, market statistics,…
Fire Blanket Market By Key Players: Tyco International, Kidde Safety, Honeywell …
Fire Blanket Industry Overview
The Fire Blanket market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Fire Blanket market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Fire Blanket market…
A Latest Research On Welding Safety Market Global Analysis By Key Players-3M Wel …
UpMarketResearch offers a latest published report on “Global Welding Safety Market Industry Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 91 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. The report contains basic, secondary and advanced information pertaining to the Welding Safety global status and…
Excellent Growth of Gas Masks Market- 3M, Honeywell, Avon Protection Systems, MS …
MarketResearchNest.com adds “Korea Gas Masks Market Research Report 2018” new report to its research database. The report spread across 112 pages with multiple tables and figures in it.
Korea plays an important role in global market, with market size of xx million USD in 2017 and will be xx million USD in 2025, with a CAGR of xx%.
This report studies the Gas Masks development status and future trend in Korea, focuses…
