Market Scenario
The Intelligent Road System is the tested
route to mitigate the traffic congestion problem. the global market of
intelligent road system had been valued at approximately USD 25 billion which
is expected to be at USD 48 billion by the end of the year 2022. It is an
application that is designed to provide customized solutions to improve the
transportation system. The major objective of this system is to evaluate,
develop, analyze and integrate new technologies and concept to achieve the
traffic efficacy. In the year 2016 However, slow growth in improving
infrastructure and high installation cost are some of the factors which are
hindering the growth of Intelligent Road System Market. The major growth driver
of Intelligent Road System Market includes increasing concern about traffic
congestion, increasing need of road safety improvements, and shifting of
freight industry from unorganized to organized sector among others.
Key Findings:
·
Intelligent Road System Market is expected to
grow at compound annual growth rate of 11% from year 2016 to year 2022.
·
North America expected to dominate the market
of intelligent road system throughout the forecast period.
·
By Type segment- computational technology is
expected to be the fastest growing market with 13% CAGR in the global market.
·
By Application- Emergency Vehicle Notification
System is expected to be the fastest growing market with 15% CAGR in the global
market.
Key Players
·
Ricardo Plc,
·
TomTom International BV,
·
Siemen AG,
·
WS Atkins PLC,
·
Kapsch Trafficcom,
·
Q-Free ASA,
·
EFKON AG,
·
Iteris Inc.,
·
Lanner Electronics Inc.
·
Roper Technologies Inc.
Segments
Global Intelligent Road System Market can be
segmented as follows:
·
Segmentation by Type: Wireless Communication,
Computational Technologies, Floating Car Data/ Floating Cellular Data, Sensing
Technologies and others.
·
Segmentation by Application: Emergency Vehicle
Notification System, Automatic Road Enforcement, Variable Speed Limits,
Collision Avoidance System among others.
Regional Analysis of Intelligent Road System Market:
By Region, North America has the leading
market for intelligent road system and is expected to dominate the market over
forecast period due to rising driver safety, reducing congestion and regulatory
initiatives. Asia-pacific is the fastest growing region in intelligent road
system market. China among all major developing economy is expected to grow at
the highest CAGR of 15.54% over the forecast period.
Get complete Report @ https://www.marketresearchfuture.com/reports/intelligent-road-system-market-2579
Target Audience
·
Intelligent transportation system providers
·
Network providers
·
Software providers
·
Navigation and GPS manufacturers
·
Research & consultancy
·
Government
·
Technology investors
The report for Intelligent Road System Market
of Market Research Future comprises of extensive primary research along with
the detailed analysis of qualitative as well as quantitative aspects by various
industry experts, key opinion leaders to gain the deeper insight of the market
and industry performance. The report gives the clear picture of current market
scenario which includes historical and projected market size in terms of value,
technological advancement, macro economical and governing factors in the
market. The report provides details information and strategies of the top key
players in the industry. The report also gives a broad study of the different
market segments and regions.
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