Smart Highway Trends and Forecast
The future of the global smart highway market looks promising with opportunities in the intelligent transportation management system, intelligent traffic management system, communication system, and monitoring system markets. The global smart highway market is expected to reach an estimated $154.20 billion by 2030 with a CAGR of 19.0% from 2024 to 2030. The major drivers for this market are requirement for better and sustainable highways, rising number of vehicles on the road,and increase in traffic-related injuries.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Smart Highway by Segment
The study includes a forecast for the global smart highway by component, deployment type, technology, and region
Smart Highway Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
• Service
Smart Highway Market by Deployment Model [Shipment Analysis by Value from 2018 to 2030]:
• On-Premises
• Cloud-Based
Smart Highway Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
• Intelligent Transportation Management System
• Intelligent Traffic Management System
• Communication System
• Monitoring System
• Others
Smart Highway Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Smart Highway Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart highway companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart highway companies profiled in this report include-
• Cisco Systems
• Honeywell International
• Huawei Technologies
• Indra Sistemas
• Infineon Technologies
• International Business Machines
• Kapsch Aktiengesellschaft
• LG
• Nokia
• Schneider Electric
Smart Highway Market Insights
Lucintel forecast that hardwareis expected to witness highest growth over the forecast period due to growing utilization of modern traffic equipments to enables intelligent traffic management, adaptive signs, and incident detection, which reduces traffic and enhances the driving experience.
Intelligent transportation management system is expected to witness highest growth over the forecast perioddue to its ability to reduce traffic, travel times, and improve road safety.
North America is expected to witness highest growth over the forecast period due to supportive investment in the construction and road infrastructure, increasing need for intelligent transportation solutions for improved mobility and transportation safety, and rising number of smart infrastructure projects in the region.
Features of the Global Smart Highway Market
Market Size Estimates: Smart highway market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Smart highway market size by various segments, such as by component, deployment model, technology, technology, and region in terms of value ($B).
Regional Analysis: Smart highway market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different component, deployment model, technology, technology, and region for the smart highway market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart highway market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the smart highway market size?
Answer: The global smart highway market is expected to reach an estimated $154.20 billion by 2030.
Q.2 What is the growth forecast for smart highway market?
Answer: The global smart highway market is expected to grow with a CAGR of 19.0% from 2024 to 2030
Q.3 What are the major drivers influencing the growth of the smart highway market?
Answer: The major drivers for this market are requirement for better and sustainable highways, rising number of vehicles on the road,and increase in traffic-related injuries.
Q4. What are the major segments for smart highway market?
Answer: The future of the smart highway market looks promising with opportunities in the intelligent transportation management system, intelligent traffic management system, communication system, and monitoring system markets.
Q5. Who are the key smart highway market companies?
Answer: Some of the key smart highway companies are as follows:
• Cisco Systems
• Honeywell International
• Huawei Technologies
• Indra Sistemas
• Infineon Technologies
• International Business Machines Corporation
• Kapsch Aktiengesellschaft
• LG
• Nokia
• Schneider Electric
Q6. Which smart highway market segment will be the largest in future?
Answer: Lucintel forecast that hardwareis expected to witness highest growth over the forecast period due to growing utilization of modern traffic equipments to enables intelligent traffic management, adaptive signs, and incident detection, which reduces traffic and enhances the driving experience.
Q7. In smart highway market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to supportive investment in the construction and road infrastructure, increasing need for intelligent transportation solutions for improved mobility and transportation safety, and rising number of smart infrastructure projects in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the smart highway market by component (hardware, software and service), deployment mode (on premises and cloud), technology (intelligent transportation management system, intelligent traffic management system, communication system, monitoring system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Smart Highway Market, Smart Highway Market Size, Smart Highway Market Growth, Smart Highway Market Analysis, Smart Highway Market Report, Smart Highway Market Share, Smart Highway Market Trends, Smart Highway Market Forecast, Smart Highway Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.