Road Safety Market Analysis

Road Safety Market Analysis

To get key market trends

  Download Free Sample

The solution segment held major road safety market share in 2022. Unmanned traffic management systems are driving the market growth by revolutionizing traffic control & safety. These systems utilize advanced technologies, such as drones and autonomous cars, to efficiently manage traffic flow and monitor road conditions. For instance, in February 2023, Skye Air, a drone solutions provider based in Gurugram, launched a drone traffic management system. This software enables drone operators to strategize routes, create flight plans, and evaluate potential risks prior to conducting drone operations within the country.

The urban segment accounted for 45% of the road safety market share in 2022. Infrastructure development in urban areas is a significant factor propelling the urban segment growth in the market. As cities expand to accommodate the growing population, the need for well-maintained & upgraded road infrastructure becomes paramount. This includes the construction of wider roads, better signages, improved traffic management systems, and enhanced lighting systems. These infrastructure enhancements not only reduce the likelihood of accidents but also ensure smoother traffic flow in densely populated urban areas, thereby making them vital components in the urban road safety efforts.

Europe road safety market size dominated around USD 9.9 billion in 2022. The pressing need to reduce road accidents & fatalities is driving the market value in Europe. According to Eurostat, 19,917 road traffic fatalities took place in Europe in 2021. With a strong commitment to enhancing road safety, European governments & organizations are investing in advanced technologies, stringent regulations, and comprehensive safety measures. This collective effort will significantly lower accident rates, improve the overall traffic safety, and save lives on European roadways, making it a pivotal factor boosting the industry size.