Smart Highway Market
Global Smart Highway Market Size, Share & Trends Analysis Report by Technology (Intelligent Traffic Management System, Intelligent Transportation Management System, Monitoring System, Communication System), By Deployment Model (On-Premise, Cloud), By Service (Consultancy Service, Maintenance & Operational Service, Managed Service) Forecast Period 2021-2027 Update Available - Forecast 2024-2030
Global smart highway market is anticipated to grow at a considerable CAGR of 19.1% during the forecast period (2021-2027). The rapid urbanization across the globe has led to expansion of carbon footprint which has promoted the need for the adoption sustainable technology for intelligent transportation. The growing adoption of connected cars, autonomous cars, GPS navigation, route optimization apps and ride-hailing services are promoting the adoption of smart highways across the globe. Looking towards, the benefits of smart transportation, many governments and transport authorities are investing in smart road technologies.
In September 2020, Colombia’s highway authority Invías has launched a $15 million tender to develop a “smart highway” monitoring network that will cover 2,400km of roads across the country. The contract involves installing 210 surveillance stations that will monitor and report on traffic speeds, emergency information, and data on stolen vehicles and cargo, among other services. The growing participation from government & transportation authority in development of smart roads is a key factor driving the growth of the smart highway market across the globe. However, the high cost of intelligent traffic management system, intelligent transportation management, and monitoring systems among others is a major factor that may restrain the growth of the smart highway market. The rapid expansion of smart city projects across the globe, especially in emerging economies is anticipated to offer lucrative opportunities for the market growth.
Impact of COVID-19 Pandemic on Global Smart Highway Market
COVID-19 pandemic led negative impact on the growth of the smart highway market. The governments of several countries are revising their budgets to allocate more budget for healthcare services. This move of governments will have annual gap in infrastructure investment in the short to medium term, except with interventions. Thus, it can be anticipated that the COVID-19 pandemic is impacting smart highway projects in place and in planning phase. However, with becoming situation such losses are expected to decline.
Segmental Outlook
The global smart highway market is segmented based on technology, deployment type and service. Based on technology, the smart highway market is segmented into intelligent traffic management system, intelligent transportation management system, monitoring system, and communication system. Based on the deployment type, the market is segmented into on-premise and cloud. Based on deployment mode, cloud based smart highway solutions are anticipated to hold considerable share during the forecast period 2021-2027. The growing adoption of cloud based solutions owing to their offered advantages is a key factor driving the growth of the cloud deployment mode; which in turn driving the growth of this market segment. Based on service, the market is segmented into consultancy service, maintenance & operation service, and managed service.
Global Smart Highway Market Share by Technology, 2020 (%)
Intelligent Transportation Management System Segment holds the significant share in the Market
Reduction in stops and delays at intersections, speed control & improvement, travel time improvement, capacity management, and incident management are some of the key benefits of using intelligent transportation management system. The growing adoption of these systems owing to their offered benefits is a key factor driving the growth of this market segment.
Regional Outlooks
The global Smart Highway market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, France, Spain, Germany, and Rest of Europe), Asia-Pacific (India, Japan, China, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). North America held a major market position in the global Smart Highway market in 2020. The well-developed infrastructure, high implementation of advanced technologies, high budget allocation for infrastructure development, high presence of smart cities are some of the key factors driving the growth of the regional market. The growing investments in smart highway projects are further contributing to the market growth.
Global Smart Highway Market Growth, by Region 2021-2027
Asia-Pacific is projected to have a considerable share in the global Smart Highway market
Asia-Pacific is anticipated to exhibit highest growth in global smart highway market. The growth factors for the regional market includes development of smart highway projects in major cities, immense development in the field of autonomous cars, growing penetration of advanced technologies. Rapid urbanization that seeks development of transportation routes to minimize traffic over highways, increase in infrastructure development funding by public authorities along with specific interest over smart cities development are some other factors that are contributing to the market growth.
Market Players Outlook
Cisco Systems Inc., Siemens AG, IBM Corp., Schneider Electric SE, and Xerox Holdings Corp. among others are some of the key players operating in the global smart highway market. These market players are adopting various growth strategies such as technological advancement, partnerships, collaborations, mergers & acquisitions among others to sustain a strong position in the market.
Recent Development
- In May 2021, Velodyne Lidar, Inc. has launched its intelligent infrastructure solution designed to solve some of the most challenging and pervasive infrastructure problems. This new solution combines Velodyne’s award-winning lidar sensors and Bluecity’s powerful AI software to monitor traffic networks and public spaces. It generates real-time data analytics and predictions to improve traffic and crowd flow efficiency, advance sustainability and protect vulnerable road users.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Smart Highway market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Smart Highway Industry
• Recovery Scenario of Global Smart Highway Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Smart Highway Market, By Technology
5.1.1. Intelligent Transportation Management System
5.1.2. Intelligent Traffic Management System
5.1.3. Communication System
5.1.4. Monitoring System
5.2. Global Smart Highway Market, By Deployment Model
5.2.1. On-Premise
5.2.2. Cloud
5.3. Global Smart Highway Market, By Service
5.3.1. Consultancy Services
5.3.2. Maintenance & Operation Services
5.3.3. Managed Services
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. 3M Co.
7.2. ABB Ltd.
7.3. Alcatel-Lucent S.A.
7.4. AT&T Inc.
7.5. Cisco Systems, Inc.
7.6. Honeywell International Inc.
7.7. Huawei Technologies, Inc.
7.8. IBM Corp.
7.9. Indra Sistemas, S.A.
7.10. Infineon Technologies AG
7.11. Intelligent Highway Solutions Inc.
7.12. Kapsch Group
7.13. LG CNS Co. Ltd.
7.14. Schneider Electric SE
7.15. Siemens AG
7.16. Xerox Holdings Corp.
1. GLOBAL SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027($ MILLION)
2. GLOBAL INTELLIGENT TRANSPORTATION MANAGEMENT SYSTEM FOR SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
3. GLOBAL INTELLIGENT TRAFFIC MANAGEMENT SYSTEM FOR SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
4. GLOBAL COMMUNICATION SYSTEM FOR SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
5. GLOBAL MONITORING SYSTEM FOR SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
6. GLOBAL SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2020-2027($ MILLION)
7. GLOBAL ON-PREMISE BASED SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
8. GLOBAL CLOUD BASED SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
9. GLOBAL SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY SERVICE, 2020-2027($ MILLION)
10. GLOBAL CONSULTANCY SERVICES FOR SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
11. GLOBAL MAINTENANCE & OPERATION SERVICES FOR SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
12. GLOBAL MANAGED SERVICES FOR SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027($ MILLION)
13. NORTH AMERICAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027($ MILLION)
14. NORTH AMERICAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027($ MILLION)
15. NORTH AMERICAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2020-2027($ MILLION)
16. NORTH AMERICAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY SERVICE, 2020-2027($ MILLION)
17. EUROPEAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027($ MILLION)
18. EUROPEAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027($ MILLION)
19. EUROPEAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2020-2027($ MILLION)
20. EUROPEAN SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY SERVICE, 2020-2027($ MILLION)
21. ASIA-PACIFIC SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027($ MILLION)
22. ASIA-PACIFIC SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027($ MILLION)
23. ASIA-PACIFIC SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2020-2027($ MILLION)
24. ASIA-PACIFIC SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY SERVICE, 2020-2027($ MILLION)
25. REST OF THE WORLD SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027($ MILLION)
26. REST OF THE WORLD SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027($ MILLION)
27. REST OF THE WORLD SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2020-2027($ MILLION)
28. REST OF THE WORLD SMART HIGHWAY MARKET RESEARCH AND ANALYSIS BY SERVICE, 2020-2027($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL SMART HIGHWAY MARKET, 2020-2027($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL SMART HIGHWAY MARKET BY SEGMENT, 2020-2027($ MILLION)
3. RECOVERY OF GLOBAL SMART HIGHWAY MARKET, 2021-2027(%)
4. GLOBAL SMART HIGHWAY MARKET SHARE BY TECHNOLOGY, 2020 VS 2027(%)
5. GLOBAL SMART HIGHWAY MARKET SHARE BY DEPLOYMENT MODEL, 2020 VS 2027(%)
6. GLOBAL SMART HIGHWAY MARKET SHARE BY SERVICE, 2020 VS 2027(%)
7. GLOBAL SMART HIGHWAY MARKET SHARE BY GEOGRAPHY, 2020 VS 2027(%)
8. GLOBAL INTELLIGENT TRANSPORTATION MANAGEMENT SYSTEM FOR SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
9. GLOBAL INTELLIGENT TRAFFIC MANAGEMENT SYSTEM FOR SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
10. GLOBAL COMMUNICATION SYSTEM FOR SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
11. GLOBAL MONITORING SYSTEM FOR SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
12. GLOBAL ON-PREMISE BASED SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
13. GLOBAL CLOUD BASED SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
14. GLOBAL CONSULTANCY SERVICES FOR SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
15. GLOBAL MAINTENANCE & OPERATION SERVICES FOR SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
16. GLOBAL MANAGED SERVICES FOR SMART HIGHWAY MARKET SHARE BY REGION, 2020 VS 2027(%)
17. US SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
18. CANADA SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
19. UK SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
20. FRANCE SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
21. GERMANY SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
22. ITALY SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
23. SPAIN SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
24. REST OF EUROPE SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
25. INDIA SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
26. CHINA SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
27. JAPAN SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
28. SOUTH KOREA SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
29. REST OF ASIA-PACIFIC SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
30. REST OF THE WORLD SMART HIGHWAY MARKET SIZE, 2020-2027($ MILLION)
