Smart Highway Market Size, Share, Trends, Analysis and Forecast 2021-26

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According to the latest report by IMARC Group, titled “Smart Highway Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global smart highway market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 18% during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Smart highways are the infrastructural roads integrated with advanced technologies for enhanced management and sustainable traffic flow. These highways are incorporated with artificial intelligence (AI), the Internet of Things (IoT)-enabled speed, big data, acoustic sensors, solar panels, etc. They improve visibility, monitor road conditions, generate energy, etc. Smart highways also accumulate and analyze traffic and vehicle data in real-time to minimize congestion on the streets and optimize e-tolling, payment gateways, parking experience, etc. Thereby, they aid in ensuring the smooth flow of traffic and passenger safety, reducing travel time, lowering pollution levels in the environment, etc.

The growing need for reliable and sustainable highways and transportation systems across the globe is one of the key factors driving the smart highway market. Furthermore, the increasing adoption of smart transportation management systems (STMS) is also propelling the product demand. Besides this, several technological advancements, including the integration of lane departure warning, automatic number plate recognition, electronic vehicle charging systems, etc., are further augmenting the global market. Moreover, numerous government bodies are launching various favorable initiatives to prevent accidents and improve road safety, which is also catalyzing the market growth. Apart from this, the development of smart cities and continuous enhancements in the existing infrastructures across countries are expected to fuel the smart highway market over the forecasted period.

Smart Highway Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

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

Some of these key players include:

  • 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

Key Market Segmentation:

The report has segmented the global smart highway market on the basis of component, deployment model, technology and region.

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
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/smart-highway-market

Key highlights of the report:            

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Industry Trends
  • Market Drivers and Success Factors
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • 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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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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