Smart Highway Market Growth is Accelerated by Advancing Infrastructure Modernization

Sneha

Smart Highway Market Growth is Accelerated by Advancing Infrastructure Modernization

Smart highways incorporate advance technologies like sensors, cameras and digital displays to optimize traffic management. They offer real-time traffic updates, emergency alerts and adaptive signaling to reduce commuting time. Integrating smart technologies enhances road safety, user convenience and environmental sustainability.

The global Smart Highway Market is estimated to be valued at US$ 52.5 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Modernization of existing road infrastructure with IoT driven solutions is a key trend spurring the smart highway market growth. Smart sensors deployed along highways continuously monitor traffic patterns, road surface conditions and detect emergencies. This data is analyzed to optimize traffic signal timing, variable speed limits and divergence routes in case of accidents. It facilitates responsive incident management while reducing congestion. Government investments to upgrade national highways according to smart city guidelines are further propelling the adoption of smart technologies. Integration of 5G connectivity and edge computing promises to advance real-time route optimization and autonomous driving on smart highways.

Segment Analysis

The global Smart Highway market is dominated by the Communication segment. This segment accounts for over 30% of the total market share owing to the widespread installation of advanced communication networks along highways and roads for IoT-based monitoring and management. The segment involves deploying a variety of technologies like cloud computing, edge computing and others for enabling real-time data communication among vehicles, infrastructure and control centres. This helps in monitoring traffic patterns, road conditions and aiding disaster management teams.

Key Takeaways

The Global Smart Highway Market Growth is expected to witness high during the forecast period of 2023 to 2030, expanding at a CAGR of 5.9% to reach a value of US$ 52.5 Mn by 2023.

Regional analysis

Asia Pacific region dominates the global market and is expected to maintain its pole position during the forecast period. This can be attributed to significant investment by governments of China, India and other southeast Asian countries to develop smart and automated infrastructure for roads and highways. For instance, China plans to upgrade over 20,000 km of highways with advanced ICT and renewable energy integrated infrastructure by 2025.

Key players

Key players operating in the Smart Highway market include General Electric Company, Siemens AG, Andritz AG, Voith GmbH & Co. KGaA. General Electric Company is one of the leading players offering smart grid and transportation solutions globally. The company provides a range of products like intelligent control systems, advanced analytics and others for development of smart highways. Similarly, Siemens AG offers specialized solutions for traffic management, electric vehicle charging, renewable energy integration and transportation electrification for highways.

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Sneha

Smart Highway Technologies Is Driven by Connected and Autonomous Vehicles

Purvaja 2023-12-19

The global Smart Highway Market is estimated to be valued at US$ 52. The adoption of 5G networks will further accelerate the large-scale deployment of V2X technologies and augment the growth of the smart highway market over the forecast period. Bargaining power of buyers: The bargaining power of buyers is moderate as there are several players offering similar smart highway solutions. Key players operating in the smart highway market are Xerox Corporation, Alcatel-Lucent Enterprise (Nokia Corporation), Siemens AG, Cisco Systems Inc. Counties in this region are focusing on developing smart cities equipped with advanced technologies like connected vehicles.

A Deep Dive into the Smart Highway Market: Key Players and Strategies

Pooja salve 2023-07-18

The concept of a smart highway has gained significant traction in recent years, driven by advancements in technology and the need for sustainable transportation solutions. Sustainability is a key aspect of the Smart Highway Market. Key players in the smart highway market are leveraging the Internet of Things (IoT) and big data analytics to gather and analyze vast amounts of data from various sensors and devices. Collaborative efforts enable the exchange of knowledge, resources, and funding for the development and implementation of smart highway technologies. The Smart Highway Market is witnessing significant growth, driven by technological advancements and the need for sustainable transportation solutions.

Artificial Intelligence Is Fastest Growing Segment Fueling The Growth Of Smart Highway Market

samruddhicmi12 2023-11-30

The Global Smart Highway Market is estimated to be valued at US$ 52. Integration of AI with smart highway infrastructure helps enhance safety, reduce response times and improve overall transportation efficiency. Segment Analysis The global smart highway market is segmented on the basis of solution, technology, deployment, and geography. Regional analysis - North America dominates the global smart highway market currently. This can be attributed to heavy investments by governments of India and China in developing smart infrastructure to reduce congestion.

Smart Highway Market Poised To Grow With A CAGR Of 10.2%

Ashish Thapa 2023-10-23

These technologies include intelligent transportation systems, electronic toll collection, variable message signs, traffic sensors, and smart traffic management systems. The global Smart Highway Market Size is estimated to be valued at US$43. Key Takeaways:The global smart highway market is expected to witness high growth, exhibiting a CAGR of 10. In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the smart highway market. These key players are actively involved in product development, partnerships, and mergers and acquisitions to enhance their market presence and expand their customer base in the smart highway market.

A Smart Workplace Help To Improve Employee Satisfaction And Well-Being

sachin sadgir 2023-04-25

In addition to reducing costs, Smart Workplace can also help to improve productivity by providing employees with access to the latest technologies and tools. For example, cloud-based collaboration platforms such as Microsoft Teams and Slack can help employees to work together more effectively, regardless of their location or time zone. In addition, smart workplace solutions can help to reduce stress and improve mental health by providing employees with access to wellness resources, such as meditation and mindfulness apps. It can also help to reduce employee turnover and absenteeism, as employees are more likely to feel valued and engaged in their work. This information can be used to improve employee wellness programs and to identify potential health risks before they become serious.

Smart Highway Market Is Estimated To Witness High Growth Owing To Increasing Need for Efficient Mobility Solutions

Gauri Cmi 2023-09-14

The global Smart Highway Market is estimated to be valued at US$ 43. In conclusion, the global Smart Highway Market Size is expected to witness high growth due to the increasing need for efficient mobility solutions. For example, governments may provide incentives and funding for smart highway projects, driving market growth. In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the smart highway market. They offer a wide range of smart highway solutions and services to cater to the evolving needs of customers in various regions.

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Smart Highway Market:WiseGuyReports.com adds “Global Smart Highway Market Research Report 2020” reports to its database.Executive SummaryGlobal Smart Highway Market is valued approximately at USD 27.81 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 18% over the forecast period 2020-2026.

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