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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