Growing Concerns for Real-Time Traffic Management Drive the Impressive Growth of the Global Variable Message Signs for Intelligent Transportation System Market

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Jul 17, 2023, 19:30 ET

DUBLIN, July 17, 2023 /PRNewswire/ -- The "Global Variable Message Signs For Intelligent Transportation System Market By Component, By Technology (Electro-Mechanical Signs, Reflective Flip-Disk Signs, and Light Emitting Signs), By Application, By Region, Competition, Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.

The global variable message signs for intelligent transportation system market is projected to experience remarkable growth during the forecast period of 2023-2027.

The surge in the number of vehicles and road accidents, along with increasing concerns for long-term vehicle safety, are driving the demand for variable message signs. These signs play a crucial role in ensuring safe driving practices and maintaining a safe distance between vehicles. As a result, the global variable message signs for intelligent transportation system market is expected to witness significant growth in the upcoming five years.

Variable message signs are electronic display panels used for road traffic management, providing text and graphic messages to effectively control traffic. The primary objective of these systems is to provide drivers with mandatory or advisory information about the road and driving conditions. These systems offer advantages such as reducing driver stress, managing travel time, and enhancing traffic safety.

Real-time traffic management is a critical aspect of traffic control, and concerns regarding it are on the rise. With the increasing number of road accidents, there is a growing need to address the avoidable causes and lack of concentration that lead to these accidents. The use of variable message signs for intelligent transportation systems has gained traction as a solution to reduce avoidable accidents. This application is driving the growth of the global variable message signs for intelligent transportation system market in the upcoming five years.

Rising accidents have become a global concern, particularly in highly populated countries with a surge in personal vehicle ownership. Annually, approximately 1.3 million lives are lost worldwide due to road traffic crashes. Despite strict traffic regulations, accidents continue to occur, especially on difficult terrains and challenging roads.

Objective of the Study:

Analyze the historical growth in the market size of the Global Variable Sign for Intelligent Transportation System Market from 2017 to 2021.
Estimate and forecast the market size of the Global Variable Sign for Intelligent Transportation System Market from 2022 to 2027, along with the growth rate until 2027.
Classify and forecast the Global Variable Sign for Intelligent Transportation System Market based on component, technology, application, region, and company.
Identify the dominant region or segment in the Global Variable Sign for Intelligent Transportation System Market.
Identify the drivers and challenges for the Global Variable Sign for Intelligent Transportation System Market.
Examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Variable Sign for Intelligent Transportation System Market.
Identify and analyze the profiles of leading players operating in the Global Variable Sign for Intelligent Transportation System Market.
Identify key sustainable strategies adopted by market players in the Global Variable Sign for Intelligent Transportation System Market.

Companies Mentioned:

Skyline Products, Inc.
Triple Sign System AB
M Company
Daktronics Dr.
Valmont Industries, Inc.
Yaham Optoelectronics Co., Ltd.
McCain, Inc.
Wanco Inc.
Efftronics Systems Pvt. Ltd.
Onnyx Electronisys Pvt. Ltd.

Market Segmentation:

By Component:

Hardware
Software

By Technology:

Electro-Mechanical Signs
Reflective Flip-Disk Signs
Light Emitting Signs

By Application:

Active Traffic Management
Highway Advisory Radios
Road/Weather Information System
Others

As the global variable message signs for intelligent transportation system market continues to grow, it will contribute to safer roads, efficient traffic management, and enhanced driving experiences. To gain comprehensive insights into the market, refer to the complete market report.

For more information about this report visit https://www.researchandmarkets.com/r/mkrou0

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SOURCE Research and Markets