Global Variable Message Signs for Intelligent Transportation System Market Outlook 2028

Variable signs are used to guide the passengers or travelers travelling through different modes of transport such as railways, roadways, among others. Intelligent variable message signs, on the other hand, are the smart signs that are updated automatically when the sensor in the system detects the presence of a vehicle or passenger. The updated information is then displayed for public use. The global variable message signs for intelligent transportation system market is anticipated to grow with a CAGR of 6.8% over the forecast period, i.e., 2020 - 2028. Factors such as the growing concern for traffic congestion, along with the surge in the sales of vehicles around the globe, and the rapid advancements in ICT are expected to drive the market growth during the forecast period. The market is estimated to garner a revenue of around USD 270 Million by the end of 2028, up from a revenue of about USD 150 Million in 2019.

The global variable message signs for intelligent transportation system market is segmented by numerous segments, which include segmentation by component, application, technology, end-use, and by region. On the basis of component, the market is segmented into hardware and software. Amongst these segments, the software segment is anticipated to grow with the highest CAGR of 7% approximately during the forecast period. The market is also segmented on the basis of application 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, out of which, by the end of 2028, the active traffic management segment is anticipated to touch a revenue of close to USD 90 Million.

The global variable message signs for intelligent transportation system market is segmented by region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to garner the highest market share and further touch a revenue of around USD 90 Million by the end of 2028.

Some of the prominent industry leaders in the global variable message signs for intelligent transportation system market that are included in our report are 3M Company, Daktronics Dr., Triple Sign System AB, Valmont Industries, Inc., Onnyx Electronisys Pvt. Ltd., Efftronics Systems Pvt. Ltd., SWARCO Group, Skyline Products, Inc., Wanco Inc., McCain, Inc., Yaham Optoelectronics Co., Ltd., and others.