Road Safety Market Size, Share, Growth, Trends, and Global Industry Analysis: By Solutions (Automatic License Plate Detection, Bus Lane Compliance, Red Light Enforcement, Speed Enforcement and Incident Detection System), By Services (Managed Services and Professional Services), and Region Forecast 2019-2030

Road Safety Market size was valued at US$ 4.24 billion in 2023 and is expected to reach US$ 8.34 billion by 2030, at a CAGR of 13.2% from 2024 to 2030. Some of the key factors favoring the market growth are new laws and regulations implemented by the government for road safety, technological advancements in road safety, rapid growth in population, and vehicles on the road. However, a lack of awareness of road safety, insufficient government funds and rapidly growing population are hampering the market growth. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.

In addition, the global market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions (regional Investment hot spots) and market unmet needs (Product opportunities). Global market is surging owing to frequent acquisitions and launchings by the market players. For instance in 2018, Jenoptik and Telco partnered with the Qatar Ministry of Interior to deliver 120 speed measurement systems. The partnership also included 6 radar-based mobile speed measurement systems to enhance speed enforcement and increase road safety in Qatar.