Global Smart Highway Construction Market Forecast, 2020-2027 | Key Segments, Benefits & Top Leading Players

A smart highway consists of photovoltaic pavements which can collect solar energy to be used for vehicle charging facilities for the solar and battery-operated vehicles. Smart highways are the highway roads that are safer, smarter, and more energy efficient. It aims at generating electricity by harnessing solar, wind, and vibration energy.

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This electricity can be used for electric vehicles, power street lamps, and to power traffic monitoring systems. Electronic Toll Collection (ETC), Variable Message Signs, Lane departure warning System (LDW), Intelligent Transport Systems (ITS) are the technologies to achieve the smart highways.

The need for safe, reliable and pollution free road drives the smart highway construction market. Government innovations in achieving safer, cleaner and more efficient roads and the rapid technological changes are the major drivers for this market. Lack of drivers training for the smart highways and also the lack of government funding proves to be the major hindrance to the growth of the market. Moreover, the growing smart city adoption trend is expected to create a huge number of opportunities in future.

Key Segments

The market is segmented on the basis of source of energy, and source of funding. Based on source of energy, the market is segmented into solar, wind, and vibration. On the basis of source of funding, the market is segmented into government funding, and other funding. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Key Players

The key players operating in the market includes Continental Engineering Corpo., Heijmans, Nippon Koei Co., Ltd., Schneider Electric, VINCI CONSTRUCTION, ABB Limited., Alcatel-Lucent Enterprise, Cisco, Colas Ltd., and Huawei Technologies Co., Ltd.

Key Benefits

Porters Five Forces model helps to analyze the potential of buyers & suppliers, and the competitive sketch of the market, which is expected to guide the market players to develop strategies accordingly.

It outlines the current trends and future scenario of the market from 2016 to 2023 to understand the prevailing opportunities and the investment pockets.

This report provides an in-depth analysis of the smart highway construction market to identify the potential investment pockets.

The key drivers, restrains, and opportunities and their detailed impact analyses have been elucidated.

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