Smart Highway Market Size, Overview, Key Players and Forecast 2026 | Cisco Systems Inc., Honeywell International Inc., Siemens AG

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 to grow at a CAGR of around 18% during 2021-2026. 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.

COVID-19 Impact:

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.

Market Trends and Drivers:

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.

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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

Smart Highway Market Competitive Analysis and Segmentation:

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

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Key highlights of the report:

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• 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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