Government Intervention to Boost the US Smart Highway Market

The US smart highway market is anticipated to grow at a CAGR of 14.8% during the forecast period (2021-2027). The increasing government intervention in development of smart highways owing to their offered benefits is a key factor driving the growth of the US smart highway market.  For instance, 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. 

Browse the full report description US 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/us-smart-highway-market

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 country. Moreover, rapid inclination towards renewable sources of energy to lit traffic lights to reduce carbon emission to further drive the market growth. 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 US 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 region and segment

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

US 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