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
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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
8.1.2.1 Lane Departure Warning System (LDW)
8.1.2.2 Automatic Number Plate Recognition (ANPR)
8.1.2.3 Incident Detection System
8.1.2.4 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
8.2.2.1 Electronic Toll Collection System
8.2.2.2 Global Navigation Satellite System (GNSS)/Global Positioning System (GPS)
8.2.2.3 Real-Time Traffic Management
8.2.3 Market Forecast
8.3 Communication System
8.3.1 Market Trends
8.3.2 Key Segments
8.3.2.1 Radio Network
8.3.2.2 Emergency Network
8.3.2.3 Data Network
8.3.3 Market Forecast
8.4 Monitoring System
8.4.1 Market Trends
8.4.2 Key Segments
8.4.2.1 Traffic Measurement
8.4.2.2 Weather Management
8.4.2.3 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
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 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.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Honeywell International Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Huawei Technologies Co Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Indra Sistemas S.A.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Infineon Technologies AG
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 International Business Machines Corporation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Kapsch Aktiengesellschaft
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 LG CNS (LG Corporation)
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Nokia Oyj
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Schneider Electric SE
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Siemens AG
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Xerox Holdings Corporation
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 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
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