The intelligent road system is the tested route to mitigate the traffic congestion problem. 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 efficiency. Intelligent road system is a computerized system with diverse applications connected with vehicle transportation, and provides live feeds with the help of sophisticated sensors of smartphone and the equipment is installed along roadside that includes cameras mounted on the traffic poles.
Intelligent road system market is growing at a rapid pace. Increasing concern about traffic congestion is one to the major market driver for the growth of intelligent road system market. In the current scenario people are more concerned about convenient, reliable and affordable travelling option. Intelligent road system helps to guide travelers in real time on daily basis, helping in avoidance of congestion. The study indicates that increasing need of road safety improvements is driving the intelligent road system market. Intelligent road systems use technology that enable government organizations and private users to keep transportation systems performing as efficiently and as safely as possible. Therefore increasing government initiatives are responsible for the growth of market during the forecast period.
The global intelligent road systems market had been valued at USD 25 billion in the year 2016, which is expected to reach USD 48 billion by the end of the forecast period; growing at ~ 11% CAGR.
The key players in global intelligent road system market include Ricardo plc, TomTom International BV, Siemen AG, WS Atkins PLC, Kapsch Trafficcom, Q-Free ASA, EFKON AG, Iteris Inc., Lanner Electronics Inc., and Roper Technologies Inc..
Global Intelligent Road Systems Market Analysis & Forecast, from 2016 to 2022
- To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments included in global Intelligent road systems market with analysis of its development and demand in the market
- Upcoming technologies, high growth geographies and countries were identified
- Regional and country specific demand and forecast for intelligent road systems were studied
- Key segments covered in the report are global intelligent road systems by type, by application and sub-segments
- Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
- For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
- Historical trend is identified to forecast and estimate the future value data
- Intelligent transportation system providers
- Network providers
- Software providers
- Navigation and GPS manufacturers
- Research & consultancy
- Technology investors
- On the basis of manufacturers, with respect to value analysis, Siemen AG accounts for largest market share in the year 2016.
- On the basis of types, with respect to value analysis, the computational technology accounts for the largest market share and is growing at 13.85% CAGR, approximately, during forecast period.
- On the basis of applications, with respect to value analysis the emergency vehicle notification system holds the largest market growing at 15.61% CAGR, approximately, by the end of forecast period.
- Geographically, North America has been projected to have the largest market share in global intelligent road systems market throughout the forecast period.
Regional and Country Analysis of Intelligent road systems Market Estimation and Forecast
The global intelligent road systems market is expected to grow at a promising rate during the forecast period, 2016-2022. Asia-Pacific is expected to be the fastest growing market due to the efforts taken for improving the performance of overall transportation system.
The report also cover country level analysis:
- North America
- Asia – Pacific
- ·Southeast Asia
- ·Rest of Asia-Pacific
- Rest of the World