Road Safety Market Size & Growth Analysis 2030

 


Road Safety Market Size & Trends

The global road safety market has experienced robust growth, valued at USD 3.07 billion in 2022. It is projected to expand at a compound annual growth rate (CAGR) of 17.5% from 2023 to 2030, fueled by a rising incidence of traffic accidents and fatalities. As governments around the world increasingly prioritize public safety and infrastructure development, the demand for advanced road safety solutions is expected to surge. Numerous global initiatives aim to curb traffic-related incidents and foster safer commuting environments.

Over the years, road safety technologies have evolved significantly. Traditional tools like red light and speed monitoring systems have been replaced by integrated, multi-functional devices that enhance efficiency and reliability. These modern systems merge multiple monitoring capabilities into single units, streamlining operations and improving response times.

The growing use of connected commercial vehicles is also reshaping the landscape. Solution providers are now creating platforms that collect and analyze data from both vehicles and road infrastructure. This connectivity is paving the way for investments in smart infrastructure, supporting the development of connected and autonomous vehicles (CAVs). By analyzing traffic and user behavior patterns, companies are contributing to safer and more intelligent road designs.

Global concern over road safety is further intensified by alarming statistics. According to the World Health Organization (WHO), road accidents claim more than 1.3 million lives each year and cause 35 million non-fatal injuries, often resulting in long-term health impacts. Governments are responding with large-scale safety initiatives aimed at reducing these figures, with a strong emphasis on highway safety and traffic discipline.

For instance, Singapore's Smart Mobility 2030 plan—a collaboration between the Intelligent Transportation Society Singapore (ITSS) and the Land Transport Authority (LTA)—is working toward deploying intelligent, sustainable mobility systems. In the U.S., the Road to Zero initiative, in partnership with the National Safety Council, aims to eliminate road fatalities by 2050 through technology and policy interventions. Likewise, India’s Ministry of Road Transport and Highways has launched nationwide efforts to improve safety, particularly on national highways.


Service Insights

In 2022, professional services dominated the market, accounting for 80.3% of total revenue. This segment includes setup, integration, training, consulting, and maintenance. The complexity of road safety technologies, including calibration and routine maintenance, continues to drive demand for expert support.

Meanwhile, managed services are gaining momentum, expected to grow at a CAGR of 15.9% through 2030. These services offer end-to-end management of road safety systems, appealing to clients looking to outsource non-core functions and simplify operations.




Solution Insights

Speed enforcement solutions, especially those incorporating red light detection, led the market with a 56.19% share in 2022. Modern systems combine red light and speed monitoring, utilizing high-resolution cameras to track violations across multiple lanes. Companies such as Jenoptik, TraffiStar, and Vitronic have been pivotal in this evolution, offering advanced solutions like the Poliscan Red+Speed.

Another fast-growing segment is Automatic Number Plate Recognition (ANPR), which is forecasted to grow at a CAGR of 17.1%. ANPR systems are being adopted across various applications—intersections, parking lots, campuses, and private properties. These systems offer round-the-clock vehicle tracking, even in adverse weather or lighting conditions, making them invaluable for law enforcement and property management.

The market is also seeing increasing integration of ANPR with other solutions like incident detection and response, broadening their scope and enhancing growth potential.


Regional Insights

In 2022, Europe accounted for 27.04% of the global market share, owing to its well-developed infrastructure and high tech adoption. The region has implemented proactive safety strategies, resulting in a lower-than-average road fatality rate. However, discrepancies remain across nations, prompting tailored national approaches to road safety enhancement.

The Asia Pacific region is anticipated to witness the highest growth, with a CAGR of 19.6%. Major economies like China and India are investing heavily in road infrastructure and traffic management systems, driving regional market expansion. These developments are crucial, given the vast and complex road networks across the region.


Key Companies & Market Share Insights

Leading players are expanding their product lines and leveraging strategic collaborations to maintain a competitive edge. For instance, Conduent’s partnership with Hayden AI in 2022 focused on school zone safety using AI-powered, camera-based monitoring systems mounted on buses.

Prominent companies in the global road safety market include:

  • Verra Mobility (American Traffic Solutions)

  • Conduent

  • Cubic Corporation

  • Dahua Technology

  • FLIR Services, Inc.

  • IDEMIA

  • Jenoptik

  • Kapsch TrafficCom

  • Motorola Solutions

  • Redflex Holdings

  • Sensys Gatso Group AB

  • Siemens

  • Swarco

  • Teledyne FLIR

  • Vitronic


Market Outlook

  • Market size in 2023: USD 3.27 billion

  • Forecast for 2030: USD 10.13 billion

  • Growth Rate: 17.5% CAGR (2023–2030)

  • Report Coverage: Revenue forecast, competitive landscape, market trends, growth drivers

  • Segments Covered: Solutions, Services, Regions

  • Regions Covered: North America, Europe, Asia Pacific, Latin America, Middle East & Africa

  • Customization: Free customization available with report purchase

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