Global Smart Highway Market
Global Smart Highway Market was valued at USD 41980 million in 2021 and which expected to react USD 81320 million by 2027, at a CAGR 6.94 %.
Smart road is defined as a different way in which technologies are incorporated into roads for improving the connection between two or more autonomous vehicles running on the same track & to monitor the read very closely. Various benefits of smart highways include including mass transit system, reducing accidents on the road, reducing driving time, and improving traveler safety.
Market Drivers
The increase in number of highway & other infrastructure projects is expected to boost growth of the global smart highway market over the forecast period. Facilitating the movement of goods & people with safety, sustainability, and cost-efficiently is a main goal of a highway.
Furthermore, growing requirement of efficient & safe transportation is also expected to accelerate growth of the global smart highway market over the forecast period. As the number of road accidents is growing worldwide, the demand for intelligent transportation management systems is increasing. Despite the low traffic during COVID-19 pandemic in 2020, according to the estimates of NHTSA road accidents caused around 38,680 deaths around the globe. Thus, need for safe as well as efficient transportation continues to grow globally.
Market Restraints
High capital investment for smart highway projects is one of the factors expected to hamper the growth of the global smart highway market over the forecast period. Also, lack of proper infrastructure is another restrain factor which expected to hinder the global smart highway market over the forecast period.
Market Segmentation
Global Smart Highway Market is segmented into product technology such as Smart Transport Management Systems, Smart Traffic Management Systems, Monitoring Systems, Services. Further, market is segmented into components such as Hardware and Software.
Regional Analysis
Global Smart Highway Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America among regions, is expected to dominate the global smart highway market throughout the forecast period. Due to the numerous companies focusing on production of intelligent road tools in countries such as the U.S., and Canada. As road safety is of high value in these countries, it opens up several growth opportunities for key players functioning in smart road industry in this region. Thus, the market is likely to witness strong growth in this region.
Key Players
Siemens AG, Cisco Systems Inc., Schneider Electric SE, IBM Corporation, Xerox Corporation, LG CNS Co. Ltd (LG Electronics Inc.), Indra Sistemas SA, Kapsch AG, Infineon Technologies AG, Huawei Technologies Co. Ltd, etc.
Market Taxonomy
By Product Technology
By Components
Global Smart Highway Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Smart Highway Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Smart Highway Market, By Product Technology
5.1 Y-o-Y Growth Comparison, By Product Technology
5.2 Global Smart Highway Market Share Analysis, By Product Technology
5.3 Global Smart Highway Market Size and Forecast, By Product Technology
5.3.1. Smart Transport Management Systems
5.3.2. Smart Traffic Management Systems
5.3.3. Monitoring Systems
5.3.4. Services
6 Global Smart Highway Market, By Component
6.1 Y-o-Y Growth Comparison, By Component
6.2 Global Smart Highway Market Share Analysis, By Component
6.3 Global Smart Highway Market Size and Forecast, By Component
6.3.1 Hardware
6.3.2. Software
7 Global Smart Highway Market, By Region
7.1 Global Smart Highway Market Share Analysis, By Region
7.2 Global Smart Highway Market Share Analysis, By Region
7.3 Global Smart Highway Market Size and Forecast, By Region
8 North America Smart Highway Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 North America Smart Highway Market Share Analysis, By Product Technology
8.3 North America Smart Highway Market Size and Forecast, By Component
8.5 North America Smart Highway Market Size and Forecast, By Country
8.5.1 U.S.
8.5.2 Canada
8.5.3 Mexico
9 Europe Smart Highway Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Smart Highway Market Share Analysis, By Product Technology
9.3 Europe Smart Highway Market Size and Forecast, By Component
9.5 Europe Smart Highway Market Size and Forecast, By Country
9.5.1 Germany
9.5.2 France
9.5.3 UK
9.54. Rest of Europe
10 Asia Pacific Smart Highway Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Asia Pacific Smart Highway Market Share Analysis, By Product Technology
10.3 Asia Pacific Smart Highway Market Size and Forecast, By Component
10.5 Asia Pacific Smart Highway Market Size and Forecast, By Country
10.5.1 China
10.5.2 Japan
10.5.3 India
10.5.4. Rest of Asia Pacific
11 Latin America Smart Highway Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Latin America Smart Highway Market Share Analysis, By Product Technology
11.3 Latin America Smart Highway Market Size and Forecast, By Component
11.5 Latin America Smart Highway Market Size and Forecast, Country
11.5.1. Brazil
11.5.2. Rest of Latin America
12 Middle East Smart Highway Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Middle East Smart Highway Market Share Analysis, By Product Technology
12.3 Middle East Smart Highway Market Size and Forecast, By Component
12.5 Middle East Smart Highway Market Size and Forecast, By Country
12.65.1. Saudi Arabia
12.5.2. UAE
12.5.3. Egypt
15.5.4. Kuwait
12.5.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 Siemens AG
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Cisco Systems Inc
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. Schneider Electric SE
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 IBM Corporation
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Xerox Corporation
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 LG CNS Co. Ltd (LG Electronics Inc.)
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Indra Sistemas SA
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Kapsch AG
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Infineon Technologies AG
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Huawei Technologies Co. Ltd
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
