Press release
Smart Highways Market to Reach New Heights by 2027 | IBM, Xerox, Siemens
Smart Highways Market
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Brief Overview on Smart Highways:
The smart highway can be defined as a highway that embedded with smart technologies and has an advanced infrastructure. The smart highway has a real-time monitoring system to manage the traffic. Also, rising new technologies such as cloud computing, big data, Internet of Things and artificial intelligence have been making highways smarter than before. In addition to this, increasing government initiatives for better and sustainable highways and rising demand for safer roads and traffic control management system due to increasing road accident are the major driving factors for the market. Whereas, the rising trend of intelligent transportation systems to reduce greenhouse gas emission and fuel consumption have been supplementing the overall growth of the market. However, lack of technical knowledge, lack of awareness about smart highways among drivers and time taking construction process are the factors that are limiting the market.
Challenges:
The Smart Highway Construction Takes More Time, Leads to Traffic Congestion
Restraints:
Lack of Technical Knowledge and Lack of Awareness about Smart Highways among Drivers
Key Market Trends:
Rising Trend of Intelligent Transportation Systems to Reduce Green House Gas Emission and Fuel Consumption
Opportunities:
Increasing Investment in Transportation Infrastructure across the Globe
Increasing Adoption of Advanced Technologies such as Sensor Technology to Manage Highway Traffic
Market Growth Drivers:
Increasing Government Initiatives for Better and Sustainable Highways
Rising Demand for Safer Roads and Traffic Control Management System Due To Increasing Road Accident
On February 13, 2019, China had announced lunch of first 5G smart highway. In this project, China will test the self-driving system and new project offers real-time monitoring of traffic. The new highway is the first 5G highway which is embedded with latest technologies such as cloud computing, big data, Internet of Things and artificial intelligence.
Segmentation of the Global Smart Highways Market:
by Intelligent Traffic Management System (Electronic Toll Collection (ETC) System, Global Navigation Satellite System (GNSS), Global Positioning System (GPS), Real-Time Traffic Management System), Management System Type (Intelligent Transport Management System, Intelligent Traffic Management System, Intelligent Communication System, Intelligent Monitoring System), Intelligent Transportation Management System (Lane Departure Warning (LDW) System, Automatic Number Plate Recognition (ANPR), Incident Detection System (IDS), Radio Frequency Identification (RFID)), Monitoring System (Traffic Measurement, Weather Management, Video Surveillance), Service Type (Consultancy Services, Maintenance and Operation Services, Managed Services), Communication System (Radio Network, Emergency Network, Data Network Grade), Display (Variable Message Signs, Digital Signage, Others)
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Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
Furthermore, the years considered for the study are as follows:
Historical data - 2016-2021
The base year for estimation - 2021
Estimated Year - 2022
Forecast period** - 2022 to 2027 [** unless otherwise stated]
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Summarized Extracts from TOC of Global Smart Highways Market Study
Chapter 1: Exclusive Summary of the Smart Highways market
Chapter 2: Objective of Study and Research Scope the Smart Highways market
Chapter 3: Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis
Chapter 4: Market Segmentation by Type, End User and Region/Country 2016-2027
Chapter 5: Decision Framework
Chapter 6: Market Dynamics- Drivers, Trends and Challenges
Chapter 7: Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 8: Appendix, Methodology and Data Source
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Advance Market Analytics is Global leaders of Market Research Industry provides the quantified B2B research to Fortune 500 companies on high growth emerging opportunities which will impact more than 80% of worldwide companies' revenues.
Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources, our analysts and consultants derive informative and usable data suited for our clients business needs. The research study enable clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As.
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