Enormous Potential for Smart Transportation System Drives the North American Smart Highway Market

The North American smart highway market is anticipated to grow at a CAGR of 15.9% during the forecast period (2021-2027). Well-developed infrastructure, high penetration of advanced technologies such as AI, IoT, and machine learning, readily adoption of new technologies, and growing autonomous vehicle industry are some of the key contributor for the high share of the regional market. The US is a major contributor to the high market share of smart highway in global market. This is due to the fact that the country is having first mover advantage of smart highway technology. 

Browse the full report description North American 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/north-american-smart-highway-market

In February 2018, the Minnesota Department of Transportation (MnDOT) has selected WSP USA to design Minnesota’s first smart road, which would transform a major state highway west of Minneapolis into a road capable of testing and deploying numerous connected-vehicle applications. MnDOT has selected the 9-mile Trunk Highway 55 (TH-55) corridor between downtown Minneapolis and I-494 as the initial location to deploy this technology. In addition, portions of I-394, which runs parallel to the south of TH-55, may be outfitted with connected-vehicle infrastructure to allow for additional applications. The development of such kind of smart highway projects are further contributing to the market growth.  

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?

North American 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

North American Smart Highway Market Report Segment by Region

• United States
• Canada