Road Safety Market size is estimated to be USD 5.5 Billion in 2024 and is expected to reach USD 9.8 Billion by 2033 at a CAGR of 7.2% from 2026 to 2033.
In 2022, the global road safety market was valued at approximately $3.07 billion, with projections indicating a compound annual growth rate (CAGR) of 17.5% from 2023 to 2030. North America held a significant portion of the market, accounting for around 50% in 2023, driven by increasing road accidents and the need for enhanced safety infrastructure. Europe also maintained a substantial share, with a market size of $4.18 billion in 2023, expected to reach $7.02 billion by 2033, reflecting rigorous safety regulations and advanced infrastructure.
The Asia Pacific region is anticipated to experience the highest growth, with a CAGR of 18.5% during the forecast period, attributed to rapid urbanization and extensive road networks necessitating improved safety measures. In 2023, the market size in this region was approximately $3.07 billion, projected to reach $5.16 billion by 2033. Latin America and the Middle East & Africa regions are also expected to witness notable growth, with market sizes projected to reach $1.80 billion and $2.29 billion respectively by 2033, driven by increasing government initiatives and investments in smart infrastructure to enhance road safety standards.
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Jenoptik AG
Kapsch TrafficCom AG
Sensys Gatso Group AB.
Redflex Holdings Limited
3M
FLIR Systems
Swarco AG
American Traffic Solutions
Information Engineering Group
Inc
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Road Safety Market
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Public Transport Vehicles
Heavy-Duty Vehicles
Advanced Driver Assistance Systems (ADAS)
Vehicle-to-Everything (V2X) Communication
Automated Driving Systems
Traffic Management Systems
Smart Traffic Signals
Road Safety Analytics
Fleet Management
Driver Behavior Monitoring
Road Infrastructure Management
Emergency Response Systems
Government Agencies
Municipal Authorities
Insurance Companies
Transportation and Logistics Providers
Individual Consumers
Consulting Services
Training and Awareness Programs
Implementation and Integration Services
Maintenance and Support Services
Data Analytics Services
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Road Safety Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Road Safety Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Road Safety Market, By Type
6. Global Road Safety Market, By Application
7. Global Road Safety Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Road Safety Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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