Global Smart Highway Market: Industry Analysis and Forecast (2018-2026)
Global Smart Highway Market was valued at US$ 18.9Bn in 2017 and is expected to reach US$ 62.1Bn by 2026, at a CAGR of 16.03% during a forecast period.
A need for better and sustainable roads and highways is a major factor driving the growth of the global smart highway market. Demand for safer and securely guarded roads is another key factor boosting the growth of the global smart highway market. Decrease in traffic congestion, government initiatives in the deployment of smart highways, dramatic technological changes and growing demand of business travel, leisure travel and employment wants are some other crucial aspects driving the growth of the overall global smart highway market.
However, a lack of accurate driver information and inappropriate traffic flow due to poor highway communication infrastructure are major factors hampering the growth of smart highways market. Also, lack of technical knowledge in between drivers and lack of training about the smart highway rules, regulations and technologies are other factors which may hinder the market growth.
Based on technology, the smart highway market is segmented as smart transport management system, smart traffic management system, smart communication system, and smart monitoring system. Increase in population and the need for constructing robust and intelligent transportation management system segment has led to the evolution of smart highways. Electronic toll collection along with lane departure warning and automatic number plate recognition is the latest technological advancements which have catalyzed the growth of smart highway networks across the world.
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North America region which would account for a larger share in the smart highways market in forecasted period. The region has robust connectivity in terms of highways and thus can offer more accurate information which can help in handling traffic issues. The infrastructure of the US region is another contributing key factor that is responsible for its increased market share. The study also observes that the Asia Pacific region is the most rapidly increasing market which is expected to display significant growth in the smart highways market in the forecast period.
Industry News: In December 2017, LG has developed an LTE-based autonomous driving technology as part of its current effort to make a presence in the next-generation vehicle market. The company needs to enable vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I) and vehicle-to-person (V2P) communications at high speeds using long-term evolution (LTE) networks.
In December 2017, Siemens has revealed a new range of passively safe traffic signal poles which they say, proposals customer’s longer life passively safe poles in a wide variety of forms, finish and lengths from 2m to 6m. The new poles are CE marked with a unique requirement label confirming key features as required by BS EN 12899 counting construction material, corrosion resistance and strength characteristics.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Smart Highway Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Smart Highway Market.
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Scope of Global Smart Highway Market
Global Smart Highway Market, by Technology:
• Intelligent Transportation Management System
o Lane Departure Warning System (LDW)
o Automatic Number Plate Recognition (ANPR)
o Incident Detection System
o Radio Frequency Identification (RFID)
• Intelligent Traffic Management System
o Electronic Toll collection System
o Global navigation Satellite System (GNSS)/Global Positioning System (GPS)
o Real-Time Traffic Management
• Communication System
o Radio Network
o Emergency Network
o Data Network
• Monitoring System
o Traffic Measurement
o Weather Management
o Video Surveillance
Global Smart Highway Market, by Displays:
• Variable Message Signs
• Digital Signage
• Others
Global Smart Highway Market, by Service:
• Consultancy Service
• Maintenance and Operation Service
• Managed Service
Global Smart Highway Market, by Deployments:
• On-premise
• On-cloud
Global Smart Highway Market, by Region:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global Smart Highway Market:
• Alcatel-Lucent
• Siemens AG
• Kapsch AG
• LG CSN
• CISCO Systems, Inc.
• Schneider Electric
• International Business Machine (IBM)
• Xerox Corporation
• Huawei Technologies Co., Ltd.
• Infineon Technologies
• Intelligent Highway Solutions Inc.
• Indra Sistemas S.A.
MAJOR TOC OF THE REPORT
Chapter One: Smart Highway Market Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Smart Highway Market Market Competition, by Players
Chapter Four: Global Smart Highway Market Market Size by Regions
Chapter Five: North America Smart Highway Market Revenue by Countries
Chapter Six: Europe Smart Highway Market Revenue by Countries
Chapter Seven: Asia-Pacific Smart Highway Market Revenue by Countries
Chapter Eight: South America Smart Highway Market Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Smart Highway Market by Countries
Chapter Ten: Global Smart Highway Market Market Segment by Type
Chapter Eleven: Global Smart Highway Market Market Segment by Application
Chapter Twelve: Global Smart Highway Market Market Size Forecast (2019-2026)
Browse Full Report with Facts and Figures of Smart Highway Market Market Report at: https://www.maximizemarketresearch.com/market-report/global-smart-highway-market/28259/
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