Intelligent Road System (IRS)Market Research Report - Global Forecast till 2027

Global Intelligent Road System Market, By Type (Wireless Communication, Computational Technologies and Floating Car Data/ Floating Cellular Data), By Application (Emergency Vehicle Notification System, Variable Speed Limits and Collision Avoidance System) - Forecast 2027

ID: MRFR/ICT/1939-CR | July, 2019 | Region : Global

Market Overview


Market Research Future (MRFR) presumes the Global Intelligent Road System Market to reach USD 54.5 billion, registering a 10.5% CAGR from 2019 to 2025 (forecast period). The market for intelligent road systems is rising at a rapid rate. Growing concern about traffic congestion is one of the main market drivers for the growth of the intelligent road system market. In the current situation, people are more worried about convenient, reliable, and affordable travel choices. The intelligent road system helps guide travelers in real-time on a regular basis, helping to escape congestion. The study shows that the growing need for road safety improvements is boosting the intelligent road system market.


COVID-19 Impact on the Global Intelligent Road System Market


The industry is expected to undergo a modest decline as a result of the global outbreak of the latest coronavirus pandemic. Manufacturing activities are at a halt due to labor shortages and work-from-home initiatives. This has resulted in a drop in demand from the end-use industries.


Market Dynamics


Drivers


Increasing population


With growing population density and increasing distances due to the growth of society, many people have been compelled to own different types of personal transport. Nowadays, a single household may be responsible for two or more vehicles, which greatly contributes to a rise in the number of cars on the roads, as well as issues with parking in different commercial and residential areas. This scenario has fueled the development of an intelligent road system.


Need to make roads safe for pedestrians and drivers


Intelligent road system technology will make a major contribution to making roads safer for pedestrians and drivers by alerting vehicles to hazards and thereby increasing road safety, and in the future, it could also be connected to driverless cars or autonomous cars as they are commonly known today. As a result of these facts, intelligent road system technology is expected to observe an upward trajectory, particularly with the development of smart cities on the horizon.


Increasing traffic


The factors responsible for driving this market's growth include a rise in traffic congestion levels due to population growth, the need to enhance road safety due to increased traffic volumes, the need for businesses to coordinate with this branch of technology to develop their business and ensure timely deliveries.


Adoption of advanced technology


Trends such as in-vehicle management systems that use satellite communication are increasingly being used to provide fleet managers with organizational assurance as they track driver's behavior data on workers. Likewise, the use of vehicle-to-vehicle communications or vehicle-to-infrastructure communications, enabling communication between traffic signals, other vehicles, etc., enables drivers to be aware of possible hazards by means of safety alerts. The availability of Bluetooth communications also allows the combination of historical and live travel time data to allow measure the time needed to complete the trip and potential delays like congestion and alternate routes, which can be taken accordingly. The most common trend in this field is that of autonomous vehicles that can dramatically reduce traffic problems faced by countries around the world on a daily basis.


Restraints


Slow growth in infrastructure development and high installation costs


The factors that may prove to be restricting the growth of this sector are slow growth in infrastructure improvement and high installation costs associated with such technologies.


Market Segmentation 


Global Intelligent Road System Market has been segmented into Type and Application. 


By type, the global intelligent road system market has been segmented into wireless communication, sensing technologies, computational technologies, floating car data/ floating cellular data, and others.


By application, the global intelligent road system market has been segregated into emergency vehicle notification systems, variable speed limits, automatic road enforcement, collision avoidance systems, and others.


Regional Analysis


North America to lead the global market


North America has a leading market for intelligent road systems and is expected to lead the market over the projected period due to rising driver safety, decreased congestion, and regulatory initiatives. Furthermore, the availability of funds, powered by stable economic dynamics, generates opportunities for research and development projects that will, as a result, drive the global intelligent road system market.


APAC to witness the fastest growth


The Asia Pacific is the fastest-growing region in the intelligent road system industry. China, among all the major developing economies, is projected to rise at the highest CAGR in the forecast period. The APAC region is experiencing a rise in population, which is driving demand in the construction sector.


Competitive Landscape 


Leading players continue to innovate and invest in research and development in order to present a cost-effective product portfolio. There have been recent mergers and acquisitions among key players, a strategy that business entities are using to extend their reach to consumers.


Key Players



  • Ricardo PLC

  • EFKON AG

  • TOMtom International BV

  • Iteris Inc.

  • Lanner Electronics Inc.

  • Siemens AG

  • WS Atkins PLC

  • Kapsch Trafficcom

  • Q-Free ASA

  • Roper Technologies Inc


Report Overview


This research report examines crucial factors, constraints, and obstacles in the global intelligent road system market, regional and segment revenue forecasts, and assessments. The base year is 2019; the projection is 2019-2025. The segmentation of the market is described in the following manner.


Segmentation Table


By Type



  • Wireless communication

  • Computational technologies

  • Floating car data/ floating cellular data

  • Sensing technologies


By Application



  • Emergency vehicle notification systems

  • Automatic road enforcement

  • Variable speed limits

  • Collision avoidance systems

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat Of New Entrants

4.1.2 Bargaining Power Of Buyers

4.1.3 Threat Of Substitutes

4.1.4 Intensity Of Rivalry

4.1.5 Bargaining Power Of Suppliers

4.2 Value Chain/Supply Chain Of The Global Intelligent Road System Market

5 Market Overview Of The Global Intelligent Road System Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact Analysis

7 Global Intelligent Road System Market, By Type

7.1 Introduction

7.2 Wireless Communication

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast, By Region, 2020–2027

7.3 Computational Technologies

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast, By Region, 2020–2027

7.4 Floating Car Data/ Floating Cellular Data

7.4.1 Market Estimates & Forecast, 2020–2027

7.4.2 Market Estimates & Forecast, By Region, 2020–2027

7.5 Sensing Technologies

7.5.1 Market Estimates & Forecast, 2020–2027

7.5.2 Market Estimates & Forecast, By Region, 2020–2027

7.6 Others

7.6.1 Market Estimates & Forecast, 2020–2027

7.6.2 Market Estimates & Forecast, By Region, 2020–2027

8 Global Intelligent Road System Market, By Application

8.1 Introduction

8.2 Emergency Vehicle Notification Systems

8.2.1 Market Estimates & Forecast, 2020–2027

8.2.2 Market Estimates & Forecast, By Region, 2020–2027

8.3 Automatic Road Enforcement

8.3.1 Market Estimates & Forecast, 2020–2027

8.3.2 Market Estimates & Forecast, By Region, 2020–2027

8.4 Variable Speed Limits

8.4.1 Market Estimates & Forecast, 2020–2027

8.4.2 Market Estimates & Forecast, By Region, 2020–2027

8.5 Collision Avoidance Systems

8.5.1 Market Estimates & Forecast, 2020–2027

8.5.2 Market Estimates & Forecast, By Region, 2020–2027

8.6 Others

8.6.1 Market Estimates & Forecast, 2020–2027

8.6.2 Market Estimates & Forecast, By Region, 2020–2027

9 Global Intelligent Road System Market, By Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, By Country, 2020–2027

9.2.2 Market Estimates & Forecast, By Type, 2020–2027

9.2.3 Market Estimates & Forecast, By Application, 2020–2027

9.2.4 US

9.2.4.1 Market Estimates & Forecast, By Type, 2020–2027

9.2.4.2 Market Estimates & Forecast, By Application, 2020–2027

9.2.5 Canada

9.2.5.1 Market Estimates & Forecast, By Type, 2020–2027

9.2.5.2 Market Estimates & Forecast, By Application, 2020–2027

9.2.6 Mexico

9.2.6.1 Market Estimates & Forecast, By Type, 2020–2027

9.2.6.2 Market Estimates & Forecast, By Application, 2020–2027

9.3 Europe

9.3.1 Market Estimates & Forecast, By Country, 2020–2027

9.3.2 Market Estimates & Forecast, By Type, 2020–2027

9.3.3 Market Estimates & Forecast, By Application, 2020–2027

9.3.4 UK

9.3.4.1 Market Estimates & Forecast, By Type, 2020–2027

9.3.4.2 Market Estimates & Forecast, By Application, 2020–2027

9.3.5 Germany

9.3.5.1 Market Estimates & Forecast, By Type, 2020–2027

9.3.5.2 Market Estimates & Forecast, By Application, 2020–2027

9.3.6 France

9.3.6.1 Market Estimates & Forecast, By Type, 2020–2027

9.3.6.2 Market Estimates & Forecast, By Application, 2020–2027

9.3.7 Spain

9.3.7.1 Market Estimates & Forecast, By Type, 2020–2027

9.3.7.2 Market Estimates & Forecast, By Application, 2020–2027

9.3.8 Italy

9.3.8.1 Market Estimates & Forecast, By Type, 2020–2027

9.3.8.2 Market Estimates & Forecast, By Application, 2020–2027

9.3.9 Rest Of Europe

9.3.9.1 Market Estimates & Forecast, By Type, 2020–2027

9.3.9.2 Market Estimates & Forecast, By Application, 2020–2027

9.4 Asia-Pacific

9.4.1 Market Estimates & Forecast, By Country, 2020–2027

9.4.2 Market Estimates & Forecast, By Type, 2020–2027

9.4.3 Market Estimates & Forecast, By Application, 2020–2027

9.4.4 China

9.4.4.1 Market Estimates & Forecast, By Type, 2020–2027

9.4.4.2 Market Estimates & Forecast, By Application, 2020–2027

9.4.5 Japan

9.4.5.1 Market Estimates & Forecast, By Type, 2020–2027

9.4.5.2 Market Estimates & Forecast, By Application, 2020–2027

9.4.6 India

9.4.6.1 Market Estimates & Forecast, By Type, 2020–2027

9.4.6.2 Market Estimates & Forecast, By Application, 2020–2027

9.4.7 Rest Of Asia-Pacific

9.4.7.1 Market Estimates & Forecast, By Type, 2020–2027

9.4.7.2 Market Estimates & Forecast, By Application, 2020–2027

9.5 Rest Of The World

9.5.1 Market Estimates & Forecast, By Country, 2020–2027

9.5.2 Market Estimates & Forecast, By Type, 2020–2027

9.5.3 Market Estimates & Forecast, By Application, 2020–2027

9.5.4 The Middle East & Africa

9.5.4.1 Market Estimates & Forecast, By Type, 2020–2027

9.5.4.2 Market Estimates & Forecast, By Application, 2020–2027

9.5.5 South America

9.5.5.1 Market Estimates & Forecast, By Type, 2020–2027

9.5.5.2 Market Estimates & Forecast, By Application, 2020–2027

10 Company Profiles

10.1 Ricardo PLC

10.1.1 Company Overview

10.1.2 Product/Business Segment Overview

10.1.3 Financial Updates

10.1.4 Key Developments

10.1.5 SWOT Analysis

10.1.6 Key Strategies

10.2 EFKON AG

10.2.1 Company Overview

10.2.2 Product/Business Segment Overview

10.2.3 Financial Updates

10.2.4 Key Developments

10.2.5 SWOT Analysis

10.2.6 Key Strategies

10.3 TOMtom International BV

10.3.1 Company Overview

10.3.2 Product/Business Segment Overview

10.3.3 Financial Updates

10.3.4 Key Developments

10.3.5 SWOT Analysis

10.3.6 Key Strategies

10.4 Iteris, Inc.

10.4.1 Company Overview

10.4.2 Product/Business Segment Overview

10.4.3 Financial Updates

10.4.4 Key Developments

10.4.5 SWOT Analysis

10.4.6 Key Strategies

10.5 Lanner Electronic Inc.

10.5.1 Company Overview

10.5.2 Product/Business Segment Overview

10.5.3 Financial Updates

10.5.4 Key Developments

10.5.5 SWOT Analysis

10.5.6 Key Strategies

10.6 Siemens AG

10.6.1 Company Overview

10.6.2 Product/Business Segment Overview

10.6.3 Financial Updates

10.6.4 Key Developments

10.6.5 SWOT Analysis

10.6.6 Key Strategies

10.7 WS Atkins PLC

10.7.1 Company Overview

10.7.2 Product/Business Segment Overview

10.7.3 Financial Updates

10.7.4 Key Developments

10.7.5 SWOT Analysis

10.7.6 Key Strategies

10.8 Kapsch Trafficcom

10.8.1 Company Overview

10.8.2 Product/Business Segment Overview

10.8.3 Financial Updates

10.8.4 Key Developments

10.8.5 SWOT Analysis

10.8.6 Key Strategies

10.9 Q-Free ASA

10.9.1 Company Overview

10.9.2 Product/Business Segment Overview

10.9.3 Financial Updates

10.9.4 Key Developments

10.9.5 SWOT Analysis

10.9.6 Key Strategies

10.10 Roper Technologies, Inc.

10.10.1 Company Overview

10.10.2 Product/Business Segment Overview

10.10.3 Financial Updates

10.10.4 Key Developments

10.10.5 SWOT Analysis

10.10.6 Key Strategies

11 Conclusion

12 List Of Tables

Table1 Global Intelligent Road System Market: By Country, 2020–2027

Table2 North America: Intelligent Road System Market: By Country, 2020–2027

Table3 Europe Intelligent Road System Market: By Country, 2020–2027

Table4 Asia-Pacific Intelligent Road System Market: By Country, 2020–2027

Table5 Middle East & Africa Intelligent Road System Market: By Country, 2020–2027

Table6 South America Intelligent Road System Market: By Country, 2020–2027

Table7 North America: Intelligent Road System Market, By Country, 2020–2027

Table8 North America: Intelligent Road System Market, By Type, 2020–2027

Table9 North America: Intelligent Road System Market, By Application, 2020–2027

Table10 Europe: Intelligent Road System Market, By Country, 2020–2027

Table11 Europe: Intelligent Road System Market, By Type, 2020–2027

Table12 Europe: Intelligent Road System Market, By Application, 2020–2027

Table13 Asia-Pacific: Intelligent Road System Market, By Country, 2020–2027

Table14 Asia-Pacific: Intelligent Road System Market, By Type, 2020–2027

Table15 Asia-Pacific: Intelligent Road System Market, By Application, 2020–2027

Table16 Middle East & Africa: Intelligent Road System Market, By Country, 2020–2027

Table17 Middle East & Africa: Intelligent Road System Market, By Type, 2020–2027

Table18 Middle East & Africa: Intelligent Road System Market, By Application, 2020–2027

Table19 South America: Intelligent Road System Market, By Country, 2020–2027

Table20 South America: Intelligent Road System Market, By Type, 2020–2027

Table21 South America: Intelligent Road System Market, By Application, 2020–2027

13 List Of Figures

FIGURE 1 Global Intelligent Road System Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of Global Intelligent Road System Market

FIGURE 4 Value Chain Of Global Intelligent Road System Market

FIGURE 5 Share Of The Intelligent Road System Market In 2020 , By Country (In %)

FIGURE 6 Global Intelligent Road System Market, 2020–2027,

FIGURE 7 Global Intelligent Road System Market Size, By Type, 2020

FIGURE 8 Share Of The Global Intelligent Road System Market, By Type, 2020–2027

FIGURE 9 Global Intelligent Road System Market Size, By Application, 2020

FIGURE 10 Share Of The Global Intelligent Road System Market, By Application, 2020–2027

Intelligent Road System Market