Press release
Global Intelligent Road System (IRS) Market Worth 48.62 Billion USD by 2022
According to MRFR, the Intelligent Road System Market is expected to reach $48.62 billion by 2022 growing at a CAGR of 11.62%. Growing population and increasing vehicles have led to increased traffic congestion and need for effective traffic management. The advancement in technology from traditional transportation management system to intelligent road management system lead to improve the performance of transportation operators. These systems are also used in area that includes freight transportation, fleet management and control, placement of identification of freight and vehicle and city logistics. With the use of such systems the fluidity of truck traffic has been drastically increased and ensures a sufficient level of control and reporting.
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Market Research Analysis:
Intelligent Road System incorporates a broad range of wireless and traditional based information and electronics technologies. The increasing demand of intelligent road system shows and immense opportunity for wireless communication market that includes device and application. Various active close circuit cameras (CCTV) and sensors are utilized to provide real-time information, whereas GPS technology with different image processing techniques are used for navigation systems.
Intelligent Road Systems are used for the utilization of IT technology and services in the field of transportation. The technology like geometric is supporting in most of the intelligent road system services with navigation & mapping tools and GIS. It is an application in transportation industry that is widely been used across the globe.
Further, Regional analysis for Intelligent Road System market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in Intelligent Road System market. Europe has emerged as the fastest growing market during forecast period 2016-2022.
IRS Market 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.
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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.
Intelligent Road System Market Segmentation
The intelligent road system market can be segmented into types and applications. By type the market includes wireless communication, computational technologies, floating car data/ floating cellular data, sensing technologies. By application, it is categorized into emergency vehicle notification system, automatic road enforcement, variable speed limits, and collision avoidance system.
Related Report
The global market for clinical data analytics is expected to reach USD 11,853.6 million by the end of the forecasted period and is expected to grow at a CAGR of 30.90% https://www.marketresearchfuture.com/reports/clinical-data-analytics-market-2520
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.
Contact:
Akash Anand,
Market Research Future
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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