Global Intelligent Road Systems Market Expected to grow USD 25 billion by 2022 and Top Key players: Ricardo plc, TomTom International BV, Siemen AG, WS Atkins PLC, Kapsch Trafficcom, Q-Free ASA and more…

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.

Global Intelligent Road Systems Market: 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.

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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.

Key Players:
The Key Players in the Intelligent Road Systems Market are 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 etc.

Global Intelligent Road Systems Market Analysis & Forecast, from 2016 to 2022
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Intelligent Road Systems market
• To provide insights about factors affecting the market growth
• To analyze the Intelligent Road Systems market based on porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World
• To provide country level analysis of the market with respect to the current market size and future prospective

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Key Findings
• The global Intelligent Road Systems market is expected to reach USD 28.72 Billion by 2022.
• By product, Customer Management sub segment in Intelligent Road Systems market accounts for the largest market share and is growing with approximately 19.77% CAGR during forecast period.
• By deployment, Hybrid Cloud sub segment in Intelligent Road Systems market accounts for the largest market share and is growing with approximately 20.11% CAGR during forecast period.
• By services, Platform as a service sub segment in Intelligent Road Systems market accounts for the largest market share of 3.17billion and is growing with approximately 17.49% CAGR during forecast period.
• By end users, Small & Medium Size Industry sub segment holds the largest market share and is growing with approximately 18.43% CAGR by the end of forecast period.

Regional and Country Analysis of Intelligent Road Systems Market Estimation and Forecast:
Intelligent Road Systems market is growing with the positive growth in all the regions due to high e-commerce adaptability by citizen which is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global Intelligent Road Systems market share followed by Europe, which stands as the second biggest market due to increase in shift of conventional commerce whereas, Asia-Pacific stands as third largest.

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This release was published on openPR.