Smart Highways Market Research Report - Global Forecast 2027

Smart Highways Market, By Technology (Intelligent Transportation Management System, Intelligent Traffic Management System), Service (Maintenance and Operations, Consultancy and Managed), Display (Variable Message Signs)- Global Forecast 2027

ID: MRFR/ICT/2155-HCR | February 2021 | Region: Global | 100 pages

Market Overview:

The worldwide Smart Highways Market Size is relied upon to develop at approx. USD 44 Billion by 2023, at 16% of CAGR somewhere in the range of 2017 and 2023. 

Smart Highways Market is those which are worked in with various advancements to make everyday traffic stream sensible and straightforward. The more appeal for movement and mindfulness about the time being burned-through are driving the Smart Highways Market. The expanded requirement for more reliable, safe, and proficient transportation and development of interstate expressways market is assuming a significant part in forming the fate of Smart Highways Market. 

The Smart Highways Market Research is showing enormous development. It's fundamentally because it's liberated from a clog, it's dependable, and there is a developing interest for an improved travel insight among end clients. Smart Highways essentially implies joining an assortment of innovations into the street to create sun-oriented energy, improve the activity of independent vehicles, or light and screen the street. Developing interest for better and more economical streets and expressways is one of the key drivers driving the development of the Smart Highways Market Demand.

COVID-19 Analysis:

The ascent in the quantity of COVID-19 cases has made a significant blow to the transportation business. With most governments implementing segregation rehearses, there is a significant decrease in the transportation business. The US is encountering the beginning phases of the pandemic; notwithstanding, a drop in traveler numbers would already be seen. In New York, ridership on the metro is significantly down. In nations like China and the US, a wide range of cost and toll assortments have been halted. China is likewise setting up a no-stop, no-check, complementary approach for vehicles shipping crisis supplies and fundamental faculty. This will diminish the weight of coordination organizations that are now under serious tension. Such activities will likewise guarantee the smooth and convenient conveyance of basic supplies. A portion of the activities incorporates parking spots into café food get zones, postpone travel charges, and change over vehicle paths for people on foot and cyclists.

Market Dynamics:

Drivers

The fruitful execution of Smart Highways Market arrangements vigorously relies upon the numerous aspects of innovations, like information correspondence, cloud, portability, and sensors that together structure the IoT design. 

Fast progressions there, lately, have empowered better availability of articles, bringing about the improvement of more intelligent environments. The presentation of the Internet Protocol variant empowers pretty much every gadget in reality to interface with the web. This article's network advances a superior comprehension of clients' conduct and subsequently brings about a better dynamic.

Opportunities

Semi-self-sufficient and self-sufficient vehicles are seeing a rapid development with considerable mechanical progressions. Programmed vehicles are the Smart Highways Market Opportunities that drive themselves with little or no human mediation. 

The pattern of creating driverless vehicles can be noticed all through the transportation business. Although the enormous scope reception of self-ruling vehicles would take critical time, a few transportation administrators are relied upon to acquaint themselves with semi-independent vehicles later on. The semi-self-ruling vehicle innovation is right now sent in vehicles by specific organizations, which give versatility on-request benefits. The sending of independent vehicles is significant for the development of the Smart Highways industry, as these vehicles don't need drivers and would bring about a cost decrease for portability specialist co-ops. 

Restraints

Smart Highways Market includes different components, like various advances, equipment, and programming offered by numerous sellers. 

Smart Highways Market Trends prompts an absence of normalization and consistency in the arrangements prompting similarity issues. Besides, various nations and locales have distinctive correspondence and organization guidelines and conventions that limit merchants from offering their answers worldwide. For example, to gather and break down information traffic in the European area, rules are lopsided or here and there missing. Henceforth, a typical convention for correspondence and work process for traffic the executive’s frameworks is essential to empower the worldwide appropriation of traffic the board arrangements. Along these lines, the absence of internationally restricting orders, techniques, and details for traffic arrangement the board arrangements is a limitation for market development.

Challenges

The brilliant transportation environment incorporates numerous innovation components, like programming, equipment, and organization components, and includes various sellers. 

The mix of shrewd innovation components with heritage transportation frameworks is exceptionally unpredictable because of the absence of an open interface and convention issues. These combination issues would then prompt correspondence holes between conventional frameworks and innovatively progressed frameworks. Likewise, the upgradation of inheritance frameworks requests high ventures. These intricacies are relied upon to confine Smart Highways Market Share development in the coming years.

Cumulative Growth Analysis

The expanding prerequisites for business travel ascend in government activities. The increasing interest in savvy vehicles will probably help Smart Highways Market Growth in the years to come.

Aside from this, the mechanical headways, for example, path takeoff cautioning, programmed number plate acknowledgment, and electronic cost assortment, are likewise expected to consider decidedly the interest for a brilliant roadway over the course of the following, not many years. The market might be hampered sooner rather than later by helpless correspondence the board, off base traffic stream, and the shortage of mechanical information among customers.

Technology Analysis

Smart Highways Market is turning out to be famous, given the innovation's capacity to ease clog and improve street wellbeing by compelling checking and the executives of vehicular traffic. One of the significant driving elements for the Smart Highways Market arrangements in streets is to diminish the accident rate and increment street wellbeing for drivers, travelers, and people on foot. Roadways are progressively being outfitted with cutting-edge radar and in-asphalt notice lights that caution parkway traffic from pushing drivers forward. The branch of Transportation (DOT) is producing creative arrangements, for example, incline metering, to decrease gridlock on streets.

 

Smart Highways Market

Smart Highways Market

Segment Overview:



  • Based on technology, the worldwide shrewd thruway framework can be fragmented into the astute vehicle the executive’s framework, wise traffic the board framework, clever correspondence framework, and wise observing framework. 

  • Based on services, the worldwide savvy thruway market can be sectioned into upkeep and activity administrations, consultancy benefits, and oversaw administrations.

  • Based on deployment, the worldwide brilliant roadway market can be fragmented into on-cloud and on-premise. By shows, the worldwide shrewd parkway market can be divided into computerized signage, variable signage, and others.



Regional Analysis

The regional analysis of Smart Highways Market is being read for locales like the Asia Pacific, North America, Europe, and the Rest of the World. It has been seen that U.S. locale would represent a more extensive offer in keen interstates market. The locale has solid availability and can give more exact data, which helps deal with the traffic issues. The framework of the U.S. district is another contributing component that represents its higher piece of the overall industry. The examination uncovers that the Asia-Pacific district is the quickest developing business sector which is relied upon to display a massive development in the keen interstates market in the gauge time frame. In Asia-Pacific, nations like China, Japan, and Korea will prod future development on the lookout. 

The transportation organizations are giving wise expressway arrangements and administrations to empower savvy city projects. Likewise, the public authority supports the roadway innovation merchants and provider organizations through ventures to help them grow new advancements and items.

Competitive Landscape

The Smart Highways Market key players include:-



  • LG CNS Corporation (South Korea)

  • Alcatel-Lucent S.A. (France)

  • Siemens AG (Germany)

  • Kapsch AG (Austria)

  • Cisco Systems (U.S.)

  • Indra Sistemas, S.A.

  • IBM Corporation (U.S.)

  • Schneider Electric SE (France)

  • Huawei Technologies Co. Ltd. (China)

  • TrafficCom (Austria)

  • Xerox Corporation (U.S.)



Recent Developments



  • In April 2019, IBM worked together with Sund and Bælt, which possesses and works the absolute most considerable foundation on the planet, to build up an AI-Powered IoT answer to assist customers with overseeing and screen spans, passages, roadways, and rail routes. IBM Maximo for Civil Infrastructure expands the IBM Maximo portfolio while giving profound industry and undertaking explicit functionalities to help associations oversee, screen, and regulate their foundation resources. 

  • In January 2019, Cisco and Iteris cooperated to convey associated streets through IoT innovation. For this association, the two organizations sent an edge-preparing IoT arrangement with the City of Las Vegas, Nevada, that would join information takes care of from the Iteris Vantage Next video location stage with the Cisco Kinetic programming answer for examining multimodal information from vehicles, bikes, and people on foot for some, high-esteem use cases to improve traffic stream and lessen blockage.



Report Overview:



  • Market overview highlights the global recognition of the Smart Highways Market Analysis

  •  Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis for the Smart Highways Market Report Research.

  • Market segmentation overview

  • The regional analysis of the Smart Highways Market

  •  Competitive landscape analysis

  • Recent Developments of Smart Highways Market Statistics



The report highlights Smart Highways Market Growth includes its revenue hike's growth potential by the end of the forecast years in 2028.



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Frequently Asked Questions (FAQ) :


Increasing road traffic has led to a rise in demand for efficient management. This, in turn, is poised to drive the expansion of the smart highways market.

The smart highways market is expected to mark 16% CAGR.

The smart highways market is expected to earn USD 44 Bn by 2023.

The segments of the smart highways market on the basis of technology are intelligent traffic management system and intelligent transportation management system.

The segments of the smart highways market on the basis of technology are consultancy, maintenance and operations, and managed

TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH TYPE

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS

3.1 INTRODUCTION

3.2 MARKET DRIVERS

3.3 MARKET CHALLENGES

3.4 MARKET OPPORTUNITIES

3.5 MARKET RESTRAINTS

4. EXECUTIVE SUMMARY

5. MARKET FACTOR ANALYSIS

5.1 PORTER’S FIVE FORCES ANALYSIS

5.2 SUPPLY CHAIN ANALYSIS

6 SMART HIGHWAYS MARKET, BY SEGMENTS

6.1 INTRODUCTION

6.2 MARKET STATISTICS

6.2.1 BY TECHNOLOGY

6.2.1.1 BY INTELLIGENT TRANSPORTATION MANAGEMENT SYSTEM

6.2.1.1.1 AUTOMATIC NUMBER PLATE RECOGNITION

6.2.1.1.2 LANE DEPARTURE WARNING SYSTEM

6.2.1.1.3 RADIO FREQUENCY IDENTIFICATION

6.2.1.1.4 INCIDENT DETECTION SYSTEM

6.2.1.2 BY INTELLIGENT TRAFFIC MANAGEMENT SYSTEM

6.2.1.2.1 GLOBAL NAVIGATION SATELLITE SYSTEM

6.2.1.2.2 ELECTRONIC TOLL COLLECTION SYSTEM

6.2.1.2.3 REAL-TIME TRAFFIC MANAGEMENT

6.2.1.2.4 GLOBAL POSITIONING SYSTEM

6.2.1.3 BY COMMUNICATION SYSTEM

6.2.1.3.1 RADIO NETWORK

6.2.1.3.2 EMERGENCY NETWORK

6.2.1.3.3 DATA NETWORK

6.2.1.4 BY MONITORING SYSTEM

6.2.1.4.1 WEATHER MANAGEMENT

6.2.1.4.2 TRAFFIC MEASUREMENT

6.2.1.4.3 VIDEO SURVEILLANCE

6.2.2 BY DISPLAY SYSTEM

6.2.5.1 VARIABLE MESSAGE SIGNS

6.2.5.2 DIGITAL SIGNAGE

6.2.5.3 OTHERS

6.2.6 BY SERVICE

6.2.6.1 MAINTAINENCE AND OPERATION SERVICE

6.2.6.2 CONSULTANCY SERVICE

6.2.6.3 MANAGED SERVICE

6.2.6.4 OTHERS

6.2.7 BY DEPLOYMENT

6.2.7.1 ON CLOUD

6.2.7.2 ON PREMISE

6.2.8 BY GEOGRAPHY

6.2.8.1 NORTH AMERICA

6.2.8.2 EUROPE

6.2.8.3 ASIA-PACIFIC

6.2.8.4 REST OF THE WORLD

7 COMPETITIVE ANALYSIS

7.1 MARKET SHARE ANALYSIS

7.2 COMPANY PROFILES

7.2.1 ALCATEL-LUCENT S.A. (FRANCE)

7.2.2 CISCO SYSTEMS, INC. (U.S.)

7.2.3 HUAWEI TECHNOLOGIES CO. LTD. (CHINA)

7.2.4 INTERNATIONAL BUSINESS MACHINE (U.S.)

7.2.5 KAPSCH AG (AUSTRIA)

7.2.6 LG CNS CORPORATION (SOUTH KOREA)

7.2.7 SCHNEIDER ELECTRIC (FRANCE)

7.2.8 SIEMENS AG (GERMANY)

7.2.9 XEROX CORPORATION (U.S.)

7.2.10 TRAFFICCOM (AUSTRIA)

7.2.11 OTHERS


LIST OF TABLES

TABLE 1 SMART HIGHWAYS MARKET, BY TECHNOLOGY

TABLE 2 SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 3 SMART HIGHWAYS MARKET, BY SERVICE

TABLE 4 SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 5 SMART HIGHWAYS MARKET, BY GEOGRAPHY

TABLE 6 NORTH AMERICA SMART HIGHWAYS MARKET, TECHNOLOGY

TABLE 7 NORTH AMERICA SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 8 NORTH AMERICA SMART HIGHWAYS MARKET, BY SERVICE

TABLE 9 NORTH AMERICA SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 10 U.S. SMART HIGHWAYS MARKET, TECHNOLOGY

TABLE 11 U.S. SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 12 U.S. SMART HIGHWAYS MARKET, BY SERVICE

TABLE 13 U.S. SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 14 CANADA SMART HIGHWAYS MARKET, TECHNOLOGY

TABLE 15 CANADA SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 16 CANADA SMART HIGHWAYS MARKET, BY SERVICE

TABLE 17 CANADA SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 18 EUROPE SMART HIGHWAYS MARKET, TECHNOLOGY

TABLE 19 EUROPE SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 20 EUROPE SMART HIGHWAYS MARKET, BY SERVICE

TABLE 21 EUROPE SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 22 GERMANY SMART HIGHWAYS MARKET, BY TECHNOLOGY

TABLE 23 GERMANY SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 24 GERMANY SMART HIGHWAYS MARKET, BY SERVICE

TABLE 25 GERMANY SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 26 FRANCE SMART HIGHWAYS MARKET, BY TECHNOLOGY

TABLE 27 FRANCE SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 28 FRANCE SMART HIGHWAYS MARKET, BY SERVICE

TABLE 29 FRANCE SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 30 U.K. SMART HIGHWAYS MARKET, BY TECHNOLOGY

TABLE 31 U.K. SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 32 U.K. SMART HIGHWAYS MARKET, BY SERVICE

TABLE 33 U.K. SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 34 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY TECHNOLOGY

TABLE 35 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 36 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY SERVICE

TABLE 37 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY DEPLOYMENT

TABLE 38 REST OF THE WORLD SMART HIGHWAYS MARKET, BY TECHNOLOGY

TABLE 39 REST OF THE WORLD SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM

TABLE 40 REST OF THE WORLD SMART HIGHWAYS MARKET, BY SERVICE

TABLE 41 REST OF THE WORLD SMART HIGHWAYS MARKET, BY DEPLOYMENT 
LIST OF FIGURES

FIGURE 1 RESEARCH TYPE

FIGURE 2 SMART HIGHWAYS MARKET, TECHNOLOGY (%)

FIGURE 3 SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM (%)

FIGURE 4 SMART HIGHWAYS MARKET, BY SERVICE (%)

FIGURE 5 SMART HIGHWAYS MARKET, BY DEPLOYMENT (%)

FIGURE 6 SMART HIGHWAYS MARKET, BY GEOGRAPHY (%)

FIGURE 7 NORTH AMERICA SMART HIGHWAYS MARKET, BY TECHNOLOGY (%)

FIGURE 8 NORTH AMERICA SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM (%)

FIGURE 9 NORTH AMERICA SMART HIGHWAYS MARKET, BY SERVICE (%)

FIGURE 10 NORTH AMERICA SMART HIGHWAYS MARKET, BY DEPLOYMENT (%)

FIGURE 11 EUROPE SMART HIGHWAYS MARKET, BY TECHNOLOGY (%)

FIGURE 12 EUROPE SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM (%)

FIGURE 13 EUROPE SMART HIGHWAYS MARKET, BY SERVICE (%)

FIGURE 14 EUROPE SMART HIGHWAYS MARKET, BY DEPLOYMENT (%)

FIGURE 15 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY TECHNOLOGY (%)

FIGURE 16 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM (%)

FIGURE 17 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY SERVICE (%)

FIGURE 18 ASIA-PACIFIC SMART HIGHWAYS MARKET, BY DEPLOYMENT (%)

FIGURE 19 REST OF THE WORLD SMART HIGHWAYS MARKET, BY TECHNOLOGY (%)

FIGURE 20 REST OF THE WORLD SMART HIGHWAYS MARKET, BY DISPLAY SYSTEM (%)

FIGURE 21 REST OF THE WORLD SMART HIGHWAYS MARKET, BY SERVICE (%)

FIGURE 22 REST OF THE WORLD SMART HIGHWAYS MARKET, BY DEPLOYMENT (%)