Intelligent Road System (IRS) Trends and Forecast
The future of the global intelligent road system (IRS) market looks promising with opportunities in the emergency vehicle notification system, automatic road enforcement, variable speed limits, collision avoidance system, dynamic traffic light coordination, incident detection, traffic congestion control, and intelligent transport systems markets. The global intelligent road system (IRS) market is expected to reach an estimated $74.3 billion by 2030 with a CAGR of 9.7% from 2024 to 2030. The major drivers for this market are growing need for efficient traffic management, rising road traffic congestion, and escalating need for smart transportation solutions.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Intelligent Road System (IRS) by Segment
The study includes a forecast for the global intelligent road system (IRS) by type, component, deployment, application, and region.
Intelligent Road System (IRS) Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Wireless Communication
• Computational Technologies
• Floating Car Data/Floating Cellular Data
• Sensing Technologies
• Cooperative Systems
• Traffic Management Systems
• Real-Time Traffic Monitoring
Intelligent Road System (IRS) Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
• Services
Intelligent Road System (IRS) Market by Deployment [Shipment Analysis by Value from 2018 to 2030]:
• On-Premises
• Cloud-Based
Intelligent Road System (IRS) Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Emergency Vehicle Notification System
• Automatic Road Enforcement
• Variable Speed Limits
• Collision Avoidance System
• Dynamic Traffic Light Coordination
• Incident Detection
• Traffic Congestion Control
• Intelligent Transport Systems
Intelligent Road System (IRS) Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Intelligent Road System (IRS) Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies intelligent road system (IRS) companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the intelligent road system (IRS) companies profiled in this report include-
• Ricardo
• TomTom
• International BV
• Siemen
• WS Atkins
• Kapsch Trafficcom
• Q-Free ASA
Intelligent Road System (IRS) Market Insights
Lucintel forecasts that wireless communication is expected to witness the highest growth over the forecast period due to its rising usage to transfer of data over large distances without any physical connection.
Within this market, emergency vehicle notification system is expected to witness the highest growth over the forecast period.
North America is expected to witness highest growth over the forecast period due to rising number of accidents and fatalities on roads in the region.
Features of the Global Intelligent Road System (IRS) Market
Market Size Estimates: Intelligent road system (IRS) market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Intelligent road system (IRS) market size by various segments, such as by type, component, deployment, application, and region in terms of value ($B).
Regional Analysis: Intelligent road system (IRS) market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, components, deployments, applications, and regions for the intelligent road system (IRS) market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the intelligent road system (IRS) market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the Intelligent road system (IRS) market size?
Answer: The global Intelligent road system (IRS) market is expected to reach an estimated $74.3 billion by 2030.
Q2. What is the growth forecast for intelligent road system (IRS) market?
Answer: The global intelligent road system (IRS) market is expected to grow with a CAGR of 9.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the intelligent road system (IRS) market?
Answer: The major drivers for this market are growing need for efficient traffic management, rising road traffic congestion, and escalating need for smart transportation solutions.
Q4. What are the major segments for intelligent road system (IRS) market?
Answer: The future of the intelligent road system (IRS) market looks promising with opportunities in the emergency vehicle notification system, automatic road enforcement, variable speed limits, collision avoidance system, dynamic traffic light coordination, incident detection, traffic congestion control, and intelligent transport systems markets.
Q5. Who are the key intelligent road system (IRS) market companies?
Answer: Some of the key intelligent road system (IRS) companies are as follows:
• Ricardo
• TomTom
• International BV
• Siemen
• WS Atkins
• Kapsch Trafficcom
• Q-Free ASA
Q6. Which intelligent road system (IRS) market segment will be the largest in future?
Answer: Lucintel forecasts that wireless communication is expected to witness the highest growth over the forecast period due to its rising usage to transfer of data over large distances without any physical connection.
Q7. In intelligent road system (IRS) market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to rising number of accidents and fatalities on roads in the region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the intelligent road system (IRS) market by type (wireless communication, computational technologies, floating car data/floating cellular data, sensing technologies, cooperative systems, traffic management systems, and real-time traffic monitoring), component (hardware, software, and services), deployment (on-premises and cloud-based), application (emergency vehicle notification system, automatic road enforcement, variable speed limits, collision avoidance system, dynamic traffic light coordination, incident detection, traffic congestion control,and intelligent transport systems), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Intelligent Road System (IRS) Market, Intelligent Road System (IRS) Market Size, Intelligent Road System (IRS) Market Growth, Intelligent Road System (IRS) Market Analysis, Intelligent Road System (IRS) Market Report, Intelligent Road System (IRS) Market Share, Intelligent Road System (IRS) Market Trends, Intelligent Road System (IRS) Market Forecast, Intelligent Road System (IRS) Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.