The Future Looks Bright for Smart Highways

According to the latest report by IMARC Group, titled “Smart Highway Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Market Outlook:

The global smart highway market size reached US$ 34.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 93.3 Billion by 2027, exhibiting a growth rate (CAGR) of 18.16% during 2022-2027.

Smart highways represent a roadway infrastructure that is integrated with communication and network technologies to make driving safe and improve connectivity. It uses acoustic and speed sensors, closed-circuit television (CCTV) cameras, and digital signage as standard solutions that are powered by the Internet of Things (IoT). These systems mitigate traffic congestion and ensure connectivity between multiple autonomous vehicles. Apart from this, smart highways include parking systems, electronic toll collection (ETC), and intelligent traffic management systems that evaluate real-time data to reduce driving time and road accidents and minimize pollution levels.

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Market Trends:

The global smart highway market growth can be attributed to the growing instances of road accidents and the increasing need for intelligent transportation technologies to offer improved traffic safety and data-driven control. Furthermore, rising greenhouse gas (GHG) emissions and escalating environmental concerns have prompted governments to use the smart highway to reduce carbon footprints by monitoring real-time air quality. Moreover, the growing population, traffic congestion, international trade, and the emerging trends of traveling for educational, business, leisure, and recreational purposes are supplementing product demand. Furthermore, the advent of smart transportation management systems (STMS) and the integration of advanced electronic toll collection with lane departure warnings, automatic number plate recognition, and electronic vehicle (EV) charging systems are propelling the market growth. Besides this, the ongoing development of smart cities, significant enhancements in existing infrastructures, and strategic collaborations amongst key players to launch advanced smart highway solutions are supporting the market growth.

Competitive Analysis and Segmentation

Competitive Landscape with Key Players:

  • Cisco Systems Inc.
  • Honeywell International Inc.
  • Huawei Technologies Co Ltd.
  • Indra Sistemas S.A.
  • Infineon Technologies AG
  • International Business Machines Corporation
  • Kapsch Aktiengesellschaft
  • LG CNS (LG Corporation)
  • Nokia Oyj
  • Schneider Electric SE
  • Siemens AG
  • Xerox Holdings Corporation

Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the smart highway market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

Breakup by Component:

  • Hardware
  • Software
  • Service

Breakup by Deployment Model:

  • On-premises
  • Cloud-based

Breakup by Technology:

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

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Ask Analyst for Customization and Explore full report with TOC & List of Figures:

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Smart Highway Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Component
    6.1    Hardware
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Software
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Service
        6.3.1 Market Trends
        6.3.2 Market Forecast
7   Market Breakup by Deployment Model
    7.1    On-premises
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cloud-based
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Technology
    8.1    Intelligent Transportation Management System
        8.1.1 Market Trends
        8.1.2 Key Segments
  Lane Departure Warning System (LDW)
  Automatic Number Plate Recognition (ANPR)
  Incident Detection System
  Radio Frequency Identification (RFID)
        8.1.3 Market Forecast
    8.2    Intelligent Traffic Management System
        8.2.1 Market Trends
        8.2.2 Key Segments
  Electronic Toll Collection System
  Global Navigation Satellite System (GNSS)/Global Positioning System (GPS)
  Real-Time Traffic Management
        8.2.3 Market Forecast
    8.3    Communication System
        8.3.1 Market Trends
        8.3.2 Key Segments
  Radio Network
  Emergency Network
  Data Network
        8.3.3 Market Forecast
    8.4    Monitoring System
        8.4.1 Market Trends
        8.4.2 Key Segments
  Traffic Measurement
  Weather Management
  Video Surveillance
        8.4.3 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
9   Market Breakup by Region
    9.1    North America
        9.1.1 United States
  Market Trends
  Market Forecast
        9.1.2 Canada
  Market Trends
  Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
  Market Trends
  Market Forecast
        9.2.2 Japan
  Market Trends
  Market Forecast
        9.2.3 India
  Market Trends
  Market Forecast
        9.2.4 South Korea
  Market Trends
  Market Forecast
        9.2.5 Australia
  Market Trends
  Market Forecast
        9.2.6 Indonesia
  Market Trends
  Market Forecast
        9.2.7 Others
  Market Trends
  Market Forecast
    9.3    Europe
        9.3.1 Germany
  Market Trends
  Market Forecast
        9.3.2 France
  Market Trends
  Market Forecast
        9.3.3 United Kingdom
  Market Trends
  Market Forecast
        9.3.4 Italy
  Market Trends
  Market Forecast
        9.3.5 Spain
  Market Trends
  Market Forecast
        9.3.6 Russia
  Market Trends
  Market Forecast
        9.3.7 Others
  Market Trends
  Market Forecast
    9.4    Latin America
        9.4.1 Brazil
  Market Trends
  Market Forecast
        9.4.2 Mexico
  Market Trends
  Market Forecast
        9.4.3 Others
  Market Trends
  Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10  SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13  Price Analysis
14  Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Cisco Systems Inc.
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.2    Honeywell International Inc.
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.3    Huawei Technologies Co Ltd.
  Company Overview
  Product Portfolio
        14.3.4    Indra Sistemas S.A.
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.5    Infineon Technologies AG
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.6    International Business Machines Corporation
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.7    Kapsch Aktiengesellschaft
  Company Overview
  Product Portfolio
        14.3.8    LG CNS (LG Corporation)
  Company Overview
  Product Portfolio
        14.3.9    Nokia Oyj
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.10    Schneider Electric SE
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.11    Siemens AG
  Company Overview
  Product Portfolio
  SWOT Analysis
        14.3.12    Xerox Holdings Corporation
  Company Overview
  Product Portfolio
  SWOT Analysis

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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