Growing Funding for Smart Highway Project: Key Factor to Drive European Smart Highway Market

European smart highway market is anticipated to grow at a CAGR of 17.4% during the forecast period (2021-2027). The growing adoption of connected cars, autonomous cars, GPS navigation, route optimization apps and ride-hailing services are driving European smart highway market. Looking towards, the benefits of smart transportation, state governments and transport authorities are investing in smart road technologies.  For instance, the Ministry of Economic Development and Technology of Slovenia has invested $371.2 million in V2I Smart Highway project that offers a deployable real-time communication between vehicles and infrastructure, a new addition to the world of intelligent transportation systems (ITS).

Browse the full report description European 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 at https://www.omrglobal.com/industry-reports/europe-smart-highway-market

The system keeps drivers informed of the state of the road in real time and allows reactions that lead to less congestion, less accidents, less stops and spinning, faster travel times and cleaner air; therefore, a comfortable, safe and economical driving experience. In addition to this, a real-time working communication can be developed between V2I traffic process server and V2I unit; V2I unit and V2I traffic process server; V2I traffic process server and administrative control centre; and V2I units and V2X devices in vehicles. The project has been completed in September 2019. The growing funding for development of smart highways to improve traffic management is anticipated to drive the growth of the European smart highway market. 

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered- 

o By Technology

o By Deployment Model

o By Service

• Competitive Landscape- ABB Ltd., 3M Co., AT & T Inc., Cisco Systems Inc., IBM Corp. 

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

European Smart Highway Market Report Segment

By Technology

• Intelligent Transportation Management System
• Intelligent Traffic Management System
• Communication System
• Monitoring System

By Deployment Model

• On-Premise
• Cloud

By Service

• Consultancy Services
• Maintenance & Operational  Services
• Managed Services

European Smart Highway Market Report Segment by Region

• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe