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Road Safety Market

Road Safety Market: Information by Service (Consulting & Training, Support & Maintenance, and Managed) and Solution (Red Light, Speed, ALPR/ANPR) and Regional Outlook - Forecast Till 2026

Published At : 22 May, 2019
Updated At : 11 Apr, 2022
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Market Snapshot
Base Year:
Study Period:
6.2 %
Fastest Growing Market:
Largest Market:
Asia Pacific

Global Statistics Representing Road Safety Market Scenario

Road traffic accidents can be fatal and often result in injuries; they have a long-term impact on individuals, communities, and countries. Road accidents involve massive costs, overburden healthcare systems, consume resources and result in significant loss of productivity with deep social and economic repercussions. According to the World Health Organization, each year, about 1.24 million people globally die as a result of road traffic crashes, which amounts to nearly 3400 deaths a day. Among people aged between 15 and 29 years, road traffic injuries are the leading cause of death around the globe. Drinking and driving, speeding and failing to use seat-belts, motorcycle helmets, and child restraints are some of the other leading causes of road accidents. Road safety systems can better accommodate human errors and take into consideration the vulnerability of the human body, rather than just maintaining a focus on human error.

Increasing number of road accidents, coupled with the growing two-wheeler and Four-wheeler Park globally, are key factors driving the growth of the road safety market. In addition to fatalities, up to 50 million people incur injuries each year as a result of road crashes, where there are additional indirect health consequences. As per a WHO report, 1.35 million road traffic deaths were recorded globally in 2016. Road safety is necessary to reduce the number of accidents on the road and thus, road safety systems have been witnessing steady demand.

According to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of cars and commercial vehicles was pegged at 97,302,534 in 2017. Therefore, to manage such a massive fleet, ensure safety and reduce traffic, road safety systems are quickly emerging as a necessity. Furthermore, new technologies have created other avenues for road safety including intelligent speed adaptation wherein the vehicle determines the road’s speed limit and alcohol-ignition interlock systems that detect alcohol on the breath of drivers, preventing them from starting their engines.

The global road safety market is expected to register steady growth during the forecast period with a CAGR of 6.2% and reach a value of USD 5.02 billion by 2026.

Regional Analysis

By geography, the road safety market has been segmented into North America, Europe, Asia Pacific, and LAMEA.

North America is projected to dominate the road safety market, owing to technological advancements, availability of developed infrastructure, and significant investments in road safety and security solutions. According to NHTSA, job growth and low fuel prices are the two factors that actively contribute to the increasing number of drivers in the U.S.

Europe is expected to grow at a significant rate in the road safety market. The EU has adopted the Safe System approach in line with Vision Zero, which aims to entirely eliminate deaths and serious injuries on European roads by 2050. In addition, 200 million Euro are being made available for road digitalization, infrastructure upgrade, and other road safety actions as well as capacity building.

Asia Pacific is anticipated to grow with the highest rate in the road safety market during the forecast period, due to rapid economic growth and various government initiatives supporting road safety measures in the region. In addition, various countries such as India, China, and Australia have implemented various solutions and strategies to optimize road security. According to estimates by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), by 2030, 2.7 billion people will live in urban areas in Asia. This continuous growth of urbanization in Asia Pacific is expected to lead to a rapid increase in transport activities and private vehicle ownership, which in turn will surge the demand for road safety systems to enhance road safety.

The LAMEA region is expected to grow at a healthy rate in the road safety market, due to economic development and growing urbanization in the region. The widespread adverse implications of road safety have been compelling countries to implement road safety solutions and services.

Segmental Insights

The global road safety market has been segmented on the basis of service, solution, and geography.

On the basis of service, the market has been segmented into consulting & training, support & maintenance, and managed. Among these, the support & maintenance service segment is likely to grow at the highest rate, as support & maintenance services help ensure the completion of day-to-day operations without interference.

On the basis of solution, the road safety market has been segmented into bus lane & section enforcement, red light, ALPR/ANPR, speed, incident detection & response. Among these, the bus lane & section enforcement segment is projected to hold the largest market share during the forecast period, as several governments and regulating authorities around the globe have been enforcing traffic laws and monitoring traffic to enhance road and public safety.

By geography, the road safety market has been segmented into North America, Europe, Asia Pacific, and LAMEA.

Key Players

Some of the major players operating in the road safety market are Thales (France), Jenoptik (Germany), American Traffic Solutions (U.S.), Siemens (Germany), Traffic Management Technologies (South Africa), Motorola (U.S.), Flir Systems (U.S.), Cubic Corporation (U.S.), Conduent (U.S.) and Alcatel-Lucen (France).

Jenoptik’s traffic technology has been in operation across the Middle East for many years in countries such as Kuwait, Saudi Arabia, and Jordan. Recently, in March 2018, Jenoptik announced a traffic safety order from Qatar. Jenoptik has presence in over 80 countries, with over 30,000 installed systems.

Key Target Audience

  • Government Agencies
  • Road Safety System Original Equipment Manufacturers (OEMs)
  • Road Safety Service Providers
  • System Integrators
  • Resellers and Distributors
  • Managed Service Providers
  • Regulatory Authorities and Associations
  • Information Technology (IT) Service Providers

Road Safety Market Segmentation

By Service

  • Consulting & Training
  • Support & Maintenance
  • Managed

By Solution

  • Light Speed
  • Bus Lane & Section Enforcement
  • Incident Detection & Response
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific

Why Buy This Report?

The road safety market is expected to register significant growth throughout the forecast period. Road safety is a critical concern globally, and thus, there exist numerous opportunities for investment. Further, road safety can significantly impact a nation’s economy, be it a low-income, middle-income or high-income country; for instance, as per the National Highway Traffic Administration’s estimates, the cost of motor vehicle crashes in the U.S. is USD 242 billion. Therefore, solutions such as road safety management, safer roads and mobility, safer vehicles, safer road users and post-crash care present several opportunities. Also, companies can make a substantial difference by collaborating with governments for road safety operations.

In this report on the road safety market, we have covered key market drivers, restraints and trends. We have also provided an in-depth analysis of key strategies such as mergers, acquisitions and new product development adopted by prominent players to excel in the industry. The following sections have specifically been covered in the report.

  • Definitive Market Data
  • Road Safety Market Analysis
  • Competitive Analysis
  • Recent Opportunities in the Market
  • 6-7-Year Performance Forecasts: Major Segments Covering Top Products and Geographies
  • Market Share Analysis
  • Potential Venture Avenues
Report Metric Details
Market Size USD in Billion By 2030
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Service (Consulting & Training, Support & Maintenance, and Managed) and Solution (Red Light, Speed, ALPR/ANPR)
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Thales (France), Jenoptik (Germany), American Traffic Solutions (U.S.), Siemens (Germany), Traffic Management Technologies (South Africa), Motorola (U.S.), Flir Systems (U.S.), Cubic Corporation (U.S.), Conduent (U.S.) and Alcatel-Lucen (France).
Key Market Opportunities Rapid Growth In Automotive And Transportation Industry Enhances Road Safety Market
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