The real-time traffic management is of great significance in numerous developed and underdeveloped regions. Maintaining the continuous fluctuations of the traffic owing to the growing number of vehicles on the road seems to be the principal problem in the mainstream of the regions. However, traffic management can effectively be shortened with the initiation of technology solutions and IoT devices. The annexation of the IT in the traffic management has given growth to the perception of the Intelligent Traffic Management System (ITMS). This system is not a software, as a substitute a consolidation of many tools, devices, applications, and software, along the variables message signages (VMS) that function in sync to promote the booklet traffic management procedure.
According to the report analysis, ‘Global Variable Message Signs for Intelligent Transportation System Market Forecasts to 2024’ states that there are numerous key players in the variable message signs for intelligent transportation system market which function all the essential functions more specifically for leading the fastest market growth and dominating the high value of market share across the globe in the coming years while employing the skilled workforce, decreasing the complexities in the improvement of the variable message signs technologies and effective working with growth opportunities such as the growth of digital technologies include Daktronics Inc., EBSCO Industries Inc., Skyline Products Inc., Swarco AG, Wanco Inc., and Aesys.
In the recent trend, in 2019, the State Department of Transportation in St. Lawrence County, US, has positioned an additional 50 portable variable message signs to improve the storm messaging to the public on key corridors during the state, as complex winter storm comprising the weighty snow, ice, and great winds are anticipated. In addition, the UK Government in Keighley Town is scheduling to install the permanent digital variable message signs in 2019 to effectively enhance the information accessible to drivers in the area, after months of traffic disruption owing to the road-widening projects.
Furthermore, the market of Global Variable Message Signs for Intelligent Transportation System revenue is predicted to augment from USD 16.7 million in 2018 to USD 21.7 million by 2024, increasing at a significant CAGR of 4.4% during the forecast period. The market will be operated by the growing requirement from the US and Western European countries. The Western Europe market has the toughest hold owing to the occurrence of numerous large and small-scale variable messaging signs manufacturing-based industries and well-developed IT infrastructure. The US is observing growth owing to the outgoings from federal and state government personalities. The market in APAC is in its preliminary stages because of the shortage of the particular variable messaging signs technology solutions and digital infrastructure in underdeveloped economies that hinder the market growth.
Furthermore, the significant increase in the demand for the real-time communication systems, effective fusion of the technologies and amazing augment in the utilization of wireless solutions are the factor to foster the market growth more positively. Therefore, in the coming years, it is anticipated that the global market of variable message signs for intelligent transportation system will increase across the globe more positively over the coming years.
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Ankur Gupta, Head Marketing & Communications