The global intelligent road system market is anticipated to grow at a significant CAGR during the forecast period. Intelligent transportation system (ITS) is a sophisticated application that aims to provide innovative services related to various modes of transportation and traffic management, as well as assisting users in becoming more informed and making safer, more coordinated, and ‘smarter’ use of transportation networks. The intelligent road system provides real-time guidance to travellers regularly, allowing them to avoid traffic jams. The global market for intelligent road systems is being boosted by the increased demand for road safety enhancements.
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Increased traffic congestion as a result of more vehicles on the road and population increase is a major driver of the global intelligent road system market. The rapid growth in traffic volumes creates a large demand for improvements in road safety, which is a key factor accelerating market growth. Other major factors boosting the global intelligent road system market include the launch of new vehicles, increased demand for new vehicles, and increased research and development activities in the market.
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Market Coverage
- Segment Covered
- Competitive Landscape: Ricardo PLC, EFKON AG, TOMtom International BV, Iteris Inc., Lanner Electronics Inc. and others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Intelligent Road System Market by Segments
By Application
- Emergency Vehicle Notification Systems
- Automatic Road Enforcement
- Variable Speed Limits
- Collision Avoidance Systems
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