The Business Research Company’s report on the Intelligent Road System Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the intelligent road system market’s growth in recent years?
Growing connected and autonomous vehicles is expected to propel the growth of the intelligent road system market going forward. Connected and autonomous vehicles (CAVs) are smart cars that can communicate with each other and drive themselves without human control. The adoption of connected and autonomous vehicles is increasing as they enhance safety, reduce traffic congestion, and improve convenience through advanced technology. Automakers and tech companies are making significant investments to drive the future of transportation. Connected and autonomous vehicles (CAVs) drive growth in intelligent road systems by enabling real-time communication between vehicles and infrastructure, improving traffic flow, safety, and efficiency. This helps create smarter, more responsive road networks. For instance, in August 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, by 2025, the number of autonomous vehicles on American roads is projected to reach 3.5 million, with further growth expected to 4.5 million by 2030. Therefore, the growing connected and autonomous vehicles are driving the growth of the intelligent road system market.
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How does the future projection of the intelligent road system market size compare to its historical growth?
The intelligent road system market size has grown rapidly in recent years. It will grow from $56.12 billion in 2024 to $63.32 billion in 2025 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to increasing urbanization, rising traffic congestion, government initiatives for smart transportation, a rise in sensor technology, and growth in vehicle-to-infrastructure (V2I) communication.
The intelligent road system market size is expected to see rapid growth in the next few years. It will grow to $101.61 billion in 2029 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to the expansion of autonomous vehicles, increasing investment in smart city projects, adoption of AI in traffic management, rising demand for real-time traffic monitoring, and integration of 5G for connected road systems. Major trends in the forecast period include the development of AI-powered traffic control systems, growing adoption of predictive analytics in road safety, increasing use of cloud-based intelligent transport solutions, expansion of smart toll collection systems, and integration of IoT for real-time road monitoring.
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Which key players are shaping the future of the intelligent road system market?
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 trends will propel the growth and evolution of the intelligent road system market?
Major companies operating in the intelligent road system market are focusing on advanced innovation, such as artificial intelligence (AI)-powered cameras to enhance traffic monitoring, improve accident detection, and optimize traffic management through real-time data analysis and automated decision-making. An AI-powered camera is a smart surveillance device that uses artificial intelligence to analyze video footage in real-time, enabling features such as object detection, facial recognition, and automated alerts. For instance, in September 2024, Teledyne FLIR LLC, a US-based thermography company, launched the TrafiBot Dual AI, an advanced multispectral traffic camera system designed to enhance safety in tunnels and on bridges. Equipped with a fast thermal core and FLIR’s proprietary AI models, it enables early fire detection, object classification, and real-time traffic data collection with high accuracy. The system leverages AI-driven 3D tracking to anticipate vehicle speed and trajectory, detect fallen objects, unusual vehicles, and vulnerable road users, and identify sudden lane changes or wrong-way drivers. This technology empowers traffic managers with reliable incident detection and reduced false alarms, ensuring safer interurban roadways.
Which regions are expected to become dominant players in the intelligent road system market?
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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What are the emerging key segments in the intelligent road system market, and how are they evolving?
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
Subsegments:
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
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How is the intelligent road system market defined?
An intelligent road system (IRS) refers to the integration of advanced technologies into road infrastructure to enhance traffic management, safety, and overall transportation efficiency. These systems utilize sensors, cameras, communication devices, and software solutions to collect and analyze real-time data, enabling dynamic traffic control, incident detection, and improved road safety.
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