Road Safety Market is Rapidly Growing with Huge Growth Trends and Opportunities with CAGR of 9.2%

Road Safety Market

By 2027, the global market for road safety would be valued USD 5.77 billion, according to a recent study by Emergen Research. The rise in traffic accidents is responsible for this market’s expansion. Over the forecast period, the market for road safety is anticipated to be driven by the growing requirement for improvement in the road structure and public security. The government’s strict laws and regulations on road safety are helping the market for that industry flourish. A contributing element to the rise in demand for traffic safety solutions is the increase in government activities for bettering road safety solutions to reduce traffic deaths, such as initiatives like smart mobility and embracing smart transportation.

Global sales of road safety products have benefited significantly from an increase in traffic fatalities. The World Health Organization (WHO) estimates that traffic accidents result in over 15 million injuries and over 1.3 million fatalities annually, as well as over 1.3 million disabilities and other health problems. As a result, governments all around the world are urging action to lower these numbers, giving traffic safety more importance. These factors will drive the road safety market to expand during the anticipated time period, hitting USD 6 billion by 2028. Growth throughout the predicted period will be greatly aided by favourable activities encouraging the use of road safety measures, such as laws, rules, and traffic-tracking systems.

Available Sample Report in PDF [email protected]

Some Key Highlights from the Report

  • Halo Edge was introduced in April 2019 by Redflex Holdings, a cutting-edge global technology business that develops solutions for smarter cities. The Halo Edge is the next-generation intelligent ANPR camera solution that detects clean air or low emissions zones using deep learning-based algorithms.
  • With a 51.2% market share in 2019, the Red Light & Speed Enforcement sector had the biggest market share. The implementation of the Red Light & Speed Enforcement has increased due to the growing need to decrease collisions and right-angle crashes.
  • Over the course of the projected period, the Asia Pacific region is anticipated to grow the fastest. The expansion of road safety solutions in the region has been fueled by the use of cutting-edge technology like the Internet of Things (IoT) and data analytics solutions in the transportation sector.

Emergen Research has segmented the global Road Safety Market on the basis of Solutions, Services, and region:

Solutions Outlook (Revenue, USD Billion; 2017-2027)

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

Services Outlook (Revenue, USD Billion; 2017-2027)

  • Managed Services
  • Professional Services (Support and maintenance, System Integration and deployment, Consulting and Training)  

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

Browse the complete Global Road Safety Market Research [email protected]

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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