Press release
North America Smart Highway Market 2021 Impact of COVID-19 Strategic Trends Growth, Revenue | Conduent, Inc., Telegra, IBI Group
North America Smart Highway Market
North America’s growing reliance on cars and a rapidly aging highway infrastructure compromising safety, efficiency, and promoting congestion are paving the way for deploying smart highway infrastructure solutions. Increasing global trade and rising intercity travel have increased traffic on highways at a tremendous rate. Thus, governments are encouraging the construction of smart highways to reduce the travel time and burden on highways. Intelligent Transportation Systems (ITS) technologies offer the best solutions to a broad range of problems, such as controlling the flow of information among vehicles and the infrastructure, maximizing safety, and relieving congestion and associated costs.
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Various technologies, such as ad-hoc mesh Wi-Fi and Cellular Vehicle-to-Everything (C-V2X), keep the drivers informed of the changes in traffic lights and communicate with other vehicles to avoid collisions. Innovations in digital technologies are anticipated to provide lucrative growth opportunities for the smart highway market players during the forecast period. Governments across the region are significantly investing in connected vehicles technologies to boost the smart highway market growth.
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Major Key players covered in this report:
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd.
• Kapsch TrafficCom AG
• Nokia Coropration
• Siemens AG
• Conduent, Inc.
• Toshiba Corporation
• Nippon Koei, Co., Ltd.
• Telegra
• IBI Group
NORTH AMERICA Smart Highway MARKET SEGMENTATION
North America Smart Highway Market, by Technology
• Smart Transport Management System
• Smart Traffic Management System
• Communication System
• Monitoring System
• Others
North America Smart Highway Market, by Component
• Hardware
• Software
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The enactment of lockdowns and travel restrictions, shutdown of production facilities, and the shortage of employees had adversely affected the performances of major players in the mobility and transportation industry in North America. The US notably witnessed the most severe impact of the COVID-19 outbreak in 2020. The initial data from a national survey of connected vehicles, a 20% drop in the average distances driven and several critical shifts in driving behavior were recorded. Additionally, the survey's key findings reported a 17% rise in speeding, a 10% increase in failures to adhere to road signs, and a 15% increase in harsh-cornering events. The year 2020 has declined growth for the market, however, from the beginning of 2021 market gained the momentum.
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