Market Highlights
The information specialists at Market Research Future Reports (MRFR) have completely concentrated on the global Smart Highway Industry and have assessed that the market will extend at CAGR of 16% during the appraisal time frame from 2017 to 2023. The global market is probably going to esteem USD 44 billion before the finish of 2023. The expanding request to make the movement less tedious is the most urgent element bringing about the development of the overall smart highways market 2020. Likewise, the interest to determine gridlock is one more variable which assumes a significant part in growing the market. Also, the organization of advances, for example, path takeoff cautioning, occurrence discovery system, and programmed number plate acknowledgment is probably going to push the market size further. The developing street traffic has brought about an ascent in the interest for a viable strategy to manage the gridlock, which is ready to drive the global smart highways market.
In any case, the spread of COVID-19 is assessed to welcome a slight effect on the global market size. Different locales have been affected because of the spread of Covid. The information specialists at MRFR are investigating the repercussions of COVID-19. We will give an effect investigation report on COVID-19.
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Segmentation:
The worldwide smart highways market can be classified on the grounds of technology, service, display system, deployment, and geography.
On the grounds of the display system, the worldwide smart highways market can be classified into Digital signage, Variable message signs, and others.
On the grounds of technology, the worldwide smart highways market can be classified into the intelligent transportation management system, communication system, intelligent monitoring system, traffic management system, and others.
On the grounds of deployment, the worldwide smart highways market can be segmented into On-premise and Cloud.
On the grounds of service, the worldwide smart highways market can be segmented into managed, maintenance and operation, consultancy, and others.
On the basis of geography, the worldwide smart highways market can be segmented into North America, Asia Pacific, Europe and Rest of the World (RoW).
Regional Analysis
An in-depth study of Asia Pacific, Europe, North America, and Rest of the World (RoW) has been carried out. As per the evaluation, the worldwide market is projected to expand significantly during the forecast period. As per the evaluation, the worldwide market is predicted to be led by North America. Among all nations, the U.S. is estimated to make the most substantial contribution in expanding the market. The most significant factor leading to the market establishment is the established and developed infrastructure which allows reliable connectivity. On the other side, Asia-Pacific is speculated to be the swiftest expanding market during the assessment period. Among all, China, Korea, and Japan are speculated to make the most pivotal participation in actuating the market size. Besides, the governments of several countries have been taking initiatives to enable smart city projects, which is likely to propel the regional market further. In addition, the transportation companies are offering smart highway methods and services to deploy the smart city projects.
However, market dynamics are likely to change significantly during the review period. Several regions have been affected due to the spread of COVID-19. We will report on the aftermath of COVID-19 of the market.
Key Players
The distinguished competitors of the worldwide smart highways market are Xerox Corporation (U.S.), LG CNS Corporation (South Korea), Alcatel-Lucent S.A. (France), Siemens AG (Germany), Kapsch AG (Austria), Cisco Systems (U.S.), Indra Sistemas, S.A., IBM Corporation (U.S.), Schneider Electric S.E. (France), Huawei Technologies Co. Ltd. (China), TrafficCom (Austria), and a few others.
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Smart Highways Market, By Technology (Intelligent Transportation Management System, Intelligent Traffic Management System), Service (Maintenance and Operations, Consultancy and Managed), Display (Variable Message Signs)- Global Forecast 2027
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According to a recent study report published by Market Research Future, The global market of smart highways is booming and expected to gain prominence over the forecast period.
The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).OverviewThe global smart highways market is showing immense growth; mainly due to the growing need for congestion free, reliable and improved travel experience among the end users.
Smart highways basically refer to incorporation of different technologies into the roads for generating solar energy, for improving the operation of autonomous cars or for lighting and monitoring the condition of the roads.
Technological advancements and economic growth is influencing the industry dynamics.
Increasing adoption of intelligent transport system (ITS) and developing infrastructure are major factors expected to boost the growth of smart highways market.On the other hand, lack of accurate driver information and inappropriate traffic flow due to poor highway communication infrastructure are major factors hindering the growth of smart highways market.
The new poles are CE marked with a unique specification label confirming key features as required by BS EN 12899 including construction material, corrosion resistance and strength characteristics.December 2017 – Siemens has been awarded new ITS contract in Northern Ireland.
