Variable Message Signs for Intelligent Transportation System Market Analysis

The global variable message signs for intelligent transportation system market is segmented by technology into electro-mechanical signs, reflective flip-disk signs, and light emitting signs. Out of these, the light emitting signs segment is expected to garner the highest market share throughout the forecast period and further touch a revenue of USD 110.6 Million by the end of 2028. The market is further segmented by component into hardware and software, out of which the software segment is anticipated to grow with the highest CAGR of 7.5% during the forecast period. On the basis of application, the market is segmented into active traffic management, highway advisory radios, road/weather information system, parking guidance management, airport, rail & bus passenger guidance & lane management, freeways. tunnels, toll facilities, emergency management, and others. Amongst these segments, the active traffic management segment is anticipated to hold the highest variable message signs for intelligent transportation system market share and further touch a revenue of USD 88.9 Million by the end of 2028, up from a revenue of USD 50.3 Million in 2019. The segment is also anticipated to grow with a CAGR of 6.5% during the forecast period.

Our in-depth analysis of the global market includes the following segments: