Intelligent Road System Market to Grow at 12.2% CAGR, Reaching $99.9 Billion by 2029

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Intelligent Road System Market Outlook: How is the Market Expected to Grow by 2025?
The market size of the intelligent road system has significantly expanded in the past few years. It is projected to increase from $56.12 billion in 2024 to $62.94 billion in 2025, yielding a compound annual growth rate (CAGR) of 12.2%. This substantial growth during the historical period is linked to factors such as the surge in urbanization, intensifying traffic congestion, governmental efforts towards smart transportation, the advancement in sensor technology, and the augmentation in vehicle-to-infrastructure (V2I) communication.

Intelligent Road System Market Forecast: What Size Will It Reach By 2029?
The market for intelligent road systems is predicted to witness a substantial surge in the coming years, with a growth projection of reaching $99.9 billion by 2029. This signifies a compound annual growth rate (CAGR) of 12.2%. Reasons attributing to this progress in the forecast period include the proliferation of self-driving cars, escalated investments in smart city initiatives, utilization of artificial intelligence in traffic regulation, augmenting requirement for real-time traffic supervision, and 5G integration for unified road systems. Predominant trends throughout this forecast period incorporate the advancement of AI-driven traffic management systems, mounting use of anticipatory analytics in road safety, proliferating application of cloud-based intelligent transport solutions, expansion of automated toll collection systems, and inclusion of IoT for real-time road oversight.

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Which Key Market Drivers Will Shape Intelligent Road System Industry Trends in 2025-2029?
The expansion of the intelligent road system market is anticipated to be propelled by the rise in connected and autonomous vehicles. These self-driving and interconnected vehicles, capable of communicating with each other and operating without human intervention, are gaining traction due to their potential to increase safety, minimize traffic congestion, and provide convenience through pioneering technology. The automotive industry and technology companies are making substantial investments with the aim of shaping the future of transportation. Through real-time communication between cars and infrastructure, these smart vehicles promote growth in intelligent road systems, enhancing traffic flow, safety, and overall efficiency, paving the way for smarter, more reactive road networks. In line with a report released by the Insurance Institute for Highway Safety, a non-profit organization based in the US in August 2022, it is forecasted that by 2025, the number of autonomous vehicles on US roads will surge to 3.5 million and is expected to further rise to 4.5 million by 2030. As a result, the surge in the proliferation of connected and autonomous vehicles plays a crucial part in intensifying the growth of the intelligent road system market.

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What Are the High-Growth Segments in the Intelligent Road System Market?
The intelligent road system market covered in this report is segmented -

1) By Type: Wireless Communication, Computational Technologies, Floating Car Data Or Floating Cellular Data
2) By Component: Hardware, Software, Services
3) By Technology Type: Advanced Traffic Management Systems (ATMS), Automatic Number Plate Recognition (ANPR), Traffic Signal Control Systems, Incident Detection And Management Systems
4) By Application: Traffic Management, Road Safety And Security, Freight Management, Public Transport, Environment Protection, Other Applications
5) By End-User: Government And Municipalities, Transportation Authorities, Commercial Fleet Operators, Smart City Developers

Sub Segment:

1) By Wireless Communication: Vehicle-to-Vehicle (V2V) Communication, Vehicle-to-Infrastructure (V2I) Communication, Vehicle-to-Pedestrian (V2P) Communication, Dedicated Short-Range Communication (DSRC), Cellular Vehicle-to-Everything (C-V2X)
2) By Computational Technologies: Artificial Intelligence (AI), Machine Learning (ML), Edge Computing, Cloud Computing, Big Data Analytics
3) By Floating Car Data (FCD) or Floating Cellular Data: GPS-Based Data Collection, Mobile Network-Based Data Collection, Probe Vehicle Data, Sensor-Based Data Collection, Crowdsourced Traffic Data

Which Global Trends Are Driving Intelligent Road System Market Expansion?
Prominent companies in the intelligent road system market are directing their efforts towards cutting-edge innovation, particularly in the use of artificial intelligence (AI)-enabled cameras. Such cameras improve traffic monitoring, accident detection, and traffic management by combining real-time data assessment and automated decision-making. These AI-powered cameras are intelligent monitoring devices that utilize AI to analyze video footage instantly, thus enabling functions like object identification, facial recognition, and automatic alerts. To illustrate, in September 2024, Teledyne FLIR LLC, an American thermography firm, introduced the TrafiBot Dual AI, an advanced multispectral traffic camera system designed to boost safety in tunnels and bridges. With a quick thermal core and FLIR's own AI models, it provides early fire notification, object categorization, and real-time traffic data collection with high precision. The system employs AI-based 3D tracking to predict vehicle speed and trajectory, spot fallen objects, unusual vehicles, and vulnerable road users, and recognize sudden lane alterations or wrong-way motorists. This technology provides traffic managers reliable incident detection and minimizes false alarms, thereby ensuring safer interurban roadways.

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Who Are the Fastest-Growing Companies in the Intelligent Road System Industry?
Major companies operating in the intelligent road system market are Siemens AG, Intel Corporation, WSP Global Inc., HARMAN International Industries Inc., Dahua Technology Co. Ltd., Cubic Transportation Systems Inc., SWARCO AG, Intellias Ltd., Kapsch TrafficCom AG, TomTom International BV, Antea Group N.V., Digi International Inc., Lanner Electronics Inc., Iteris Inc., Q-Free ASA, EFKON GmbH, Robustel Technologies Co. Ltd., Faststream Technologies LLC, Loadlink Technologies, Yunex Traffic GmbH.

What Is the Regional Outlook for the Intelligent Road System Market by 2029?
North America was the largest region in the intelligent road system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intelligent road system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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