Variable Message Signs For Intelligent Transportation System Market To Grow With Technological Advancements
Global Variable Message
Signs For Intelligent Transportation System Market growing on the backbone of
rising automotive sales.
According to TechSci Research
report, “Variable Message Signs For Intelligent Transportation System Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2017-2027” Global variable message sign
for intelligent transportation system market is bound to expand in the forecast
years with impressive CAGR due to increase in the demand for better
facilitation of the automotives in the recent years. Increasing ownerships of
the multiple vehicles, and growing traffic congestions further drive the growth
of the global variable message signs for intelligent transportation system
market in the upcoming five years. Increasing vehicular fleet globally and
rising road kills due to ill-management of traffic further supports the growth
of the global variable message signs for intelligent transportation system
market in the next five years. Rapidly increasing investment in the automotive
industry, and advancing the technologies used for the better facilitation of the
automotives coupled with rising adoptions of the cloud based technology and
services that supports vehicle drivers to manage their commute and avoid any
unwanted or risky driving also substantiates the growth of the global variable message
signs for intelligent transportation system market in the forecast years
through 2027. Rising instances of road kills and increasing complaints of the
avoidable human mistake while driving have influenced the government to support
the investment and advancement of the real time traffic management system and
thus aiding the growth of the global variable message signs for intelligent
transportation system market in the future five years.
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The global variable message
sign for intelligent transportation system market segmentation is based on
component, technology, application, regional distribution, and competitive
landscape. Based on component, the market is differentiated between hardware and
software. Software component is anticipated to hold the largest revenue shares
of the market and dominate the market segment in the upcoming five years on the
account of increasing demand for the internet based services and increasing
application of artificial intelligence. Moreover, growing demand for the
incorporated software installation in used vehicles further supports the growth
of the global variable message sign for intelligent transportation system
market in the next five years.
By technology, the market is
fragmented into electro-mechanical signs, reflective flip-disk signs, and light
emitting signs. Light emitting signs are anticipated to hold the largest
revenue shares of the market and dominate the market segment in the upcoming
five years due to increasing adaptations of the technology and its advantage to
the vehicle driver. These signs have the advantage to highlight the movement
not only for the driver but also to the fellow drivers on the road such that
they may manage their movements accordingly. The light emitting signs are also
advantageous for all kind of weather and all kind of terrain to highlight the
movements. Based on application, the market is bifurcated into active traffic
management, highway advisory radios, road/weather information system, and
others.
Some of the market players,
dominating the global variable message signs for intelligent transportation
system market are
·
Skyline
Products, Inc.
·
Triple
Sign System AB
·
3M
Company
·
Daktronics
Dr.
·
Valmont
Industries, Inc.
·
Yaham
Optoelectronics Co., Ltd.
·
McCain,
Inc.
·
Wanco
Inc.
·
Efftronics
Systems Pvt. Ltd.
·
Onnyx
Electronisys Pvt. Ltd.
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“North America region may
lead the regional market segment analysis for the forecast years due to growing
concerns regarding increasing sales of the automobiles and surging demands for
the personal vehicles. Growing concerns for the traffic congestions in multiple
cities of countries like the United States, Canada etc. is also responsible for
the regional growth of the market in the North American region. Also, the
government is actively investing in the advanced technologies and advancement
of the techniques to monitor and manage the traffic, that supports the market
growth further. Additionally, growing concerns toward road safety fuels the
growth of the global carriable message signs for intelligent transportation
system market in the upcoming five years. New market players may invest further
in the advancement of the technologies and researching more effective methods
to control the traffic and monitor the road accidents that would support their
future brand establishment. Collaborations with the global automotive industry
giants would also aid the market growth,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Variable Message Signs
For Intelligent Transportation System Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2017-2027 Segmented By Component
(Hardware, Software), By Technology (Electro-Mechanical Signs, Reflective
Flip-Disk Signs, and Light Emitting Signs), By Application (Active Traffic
Management, Highway Advisory Radios, Road/Weather Information System, and
Others), By Region”, has evaluated the future
growth potential of global variable message signs for intelligent
transportation system and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global variable message
signs for intelligent transportation system market.
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