Global Intelligent Road System Market Overview
In its new research report, Market Research Future
(MRFR), emphasizes that the global Intelligent Road System Market 2020 is expected to grow
exponentially over the review period, securing a substantial market valuation
of USD 54.5 billion by 2025, and a healthy 10.5% CAGR over the assessment
period.
Competitive Analysis
The major market players operating in the global
market, as identified by MRFR are Ricardo PLC, TOMtom International BV, EFKON
AG, Iteris, Inc., Siemens AG, WS Atkins PLC, Lanner Electronics Inc., Q-Free
ASA, Kapsch Trafficcom, and Roper Technologies, Inc.
Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/2579
Drivers and Restraints
The Intelligent Road Network helps the effect of
road travel on the environment by reducing congestion and collisions, improving
driver safety, and helping to manage the transport system well. Increasing the
number of applicants in transport operations has made logistics networks more
complex. In addition, the need for a new type of transportation system is used
in the current scenario to more effectively transfer data and information
between partners, increase freight visibility, and also increase contact with
logistic information.
Advancement in technology from the conventional
transport management system to the smart road management systems leads to
improved transportation operator efficiency. The reasons responsible for
driving this sector's growth include a rise in traffic congestion rates due to
population development, the need to enhance road safety due to rising traffic
volumes, the need for businesses to collaborate with this technology division
in order to expand their business and ensure timely deliveries. The factors
that may prove to limit this sector's growth are slow growth in infrastructure
upgrades and high deployment costs associated with these technologies.
Trends like in-vehicle management systems that use
satellite communication are increasingly being used to provide fleet managers
with organizational security as it tracks employee behavior data from a driver.
Likewise, the use of vehicle-to-vehicle communications, or
vehicle-to-infrastructure communications, allowing contact between traffic
signals, other vehicles, etc., allow drivers to be aware of potential hazards
through safety warnings. The use of Bluetooth connectivity also allows the
combination of historical and live travel time data to help measure the time
needed to complete the journey, as well as potential delays such as congestion
and alternate routes, which can be taken accordingly. The most popular trend in
this sector is that of autonomous vehicles, which can significantly alleviate
the traffic problems that countries around the world face on a daily basis.
Segmental Analysis
By type, the market has been segmented into wireless
communication, computational technologies, floating car data/ floating cellular
data, sensing technologies, and others.
By application, the market has been segregated into
emergency vehicle notification systems, automatic road enforcement, variable
speed limits, collision avoidance systems, and others.
Regional Analysis
The geographical analysis of the global market has
been conducted in four major regions, including the Asia Pacific, North
America, Europe, and the rest of the world (Latin America, the Middle East, and
Africa).
North America has the leading market for intelligent
road systems and is expected to dominate the market over the forecast period
due to rising driver safety, reducing congestion, and regulatory initiatives.
Moreover, the availability of funds, driven by stable economic dynamics, is
creating opportunities for research and development projects, which will
consequently drive the global intelligent road system market.
Asia-pacific is the fastest-growing region in the
intelligent road system market. China, among all significant developing
economies, is expected to grow at the highest CAGR over the forecast period.
The APAC region is witnessing growth in the populace, which is driving the
demand in the construction sector.
Get Complete Report Details at: https://www.marketresearchfuture.com/reports/intelligent-road-system-market-2579
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
No comments:
Post a Comment