Market Highlights

The Intelligent Road System Industry size is anticipated to contact USD 54.5 billion at a 10.5% CAGR during the conjecture time frame (2020-2027), states the most recent Market Research Future's (MRFR) intelligent road system market figure report.

Intelligent Road System Industry Drivers/Intelligent Road System Industry Trends

Developing Concern about Traffic Congestion to Boost Market Growth

The developing worry about traffic clog will help market development over the gauge time frame. Presently individuals are more stressed with respect to reasonable, dependable, and helpful decisions. The intelligent road system helps guide voyagers progressively consistently helping to get away from blockage.

Potential open doors

Need for Safer Roads for Pedestrians and Drivers

Intelligent Road System Industry will make a gigantic commitment to make roads safer for drivers and people on foot by modifying vehicles to perils and consequently increment road security and in the future, this can likewise be associated with independent or driverless vehicles as they are usually known at this point. Hence, intelligent road system innovation is probably going to notice a vertical direction, particularly with the improvement of savvy urban communities not too far off.

Limitations and Challenges

High Installation Costs to go about as Market Restraint

Slow development in framework advancement combined with high establishment expenses might affect the global intelligent road system market share over the gauge time frame.

Coronavirus Analysis

A few ventures have been impacted by the COVID-19 emergency and the global intelligent road system market also is the same. It has likewise encountered the brunt of the dangerous episode. Monetary outcomes, store network disturbances, changes popular offer, and long haul and prompt effect of the COVID-19 emergency negatively affected the market development.

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Segmentation:

By type, the global Intelligent Road System Industry is segmented into floating car data/floating cellular data, computational technologies, sensing technologies, and wireless communication.

By application, the global Intelligent Road System Industry is segmented into collision avoidance systems, automatic road enforcement, variable speed limits, emergency vehicle notification systems and others.

Regional Analysis

North America to Lead Intelligent Road System Market

North America will lead this market over the forecast period. Rising driver safety, regulatory initiatives, and decreased congestion, the availability of funds, stable economic dynamics, heavy investments in R&D development, deployment, adoption of intelligent transportation systems across the country, advances in communication technologies, devices such as mobile and radio possessing short-range dedicated technology are facilitating drivers, transport authorities, freight operators, and transit passengers for vehicle to vehicle communication, and growing number of vehicles are adding to the global intelligent road system market growth in the region.

Europe to Have Second-Largest Share in Intelligent Road System Market

Europe will have second-largest share in intelligent road system market over the forecast period. UK has the utmost market share for the substantial deployment of ITS in the country for public transportation and implementation of ITS by Canada are adding to the global intelligent road system market growth in the region.

Key Players

Eminent players profiled in the global Intelligent Road System Industry report include Roper Technologies Inc, Q-Free ASA, Kapsch Trafficcom, WS Atkins PLC, Siemens AG, Lanner Electronics Inc., Iteris Inc., TOMtom International BV, EFKON AG, and Ricardo PLC.

The global Intelligent Road System Industry is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers , including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, & more.

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Global Intelligent Road System Industry, By Type (Wireless Communication, Computational Technologies and Floating Car Data/ Floating Cellular Data), By Application (Emergency Vehicle Notification System, Variable Speed Limits and Collision Avoidance System) - Forecast 2027

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