Refers to the area beside a road or path; often used in literary or descriptive contexts.
A small flower was blooming by the roadside.
He sat down on a stone by the wayside.
路傍 is a literary, somewhat old-fashioned word for roadside, while 道沿い is the everyday term used in ordinary conversation and writing.
Compound of 路 (road) and 傍 (side, vicinity). The reading ろぼう follows the on'yomi of both characters.