Smart Highway Market Report 2022 : Size, Share, Growth, Trend And Forecast 2031 | Cisco System Inc., IBM Corporation, LG CSN, Schneider Electric SE, Siemens AG
The global smart highway market report by the business research company identifies the development of smart cities is driving to be a major growth driver for the smart highway market. A smart city is a developed urban area that excels in a number of critical areas, including economics, mobility, the environment, people, lifestyle, and government. This results in sustainable economic growth and an excellent quality of life. Due to rising urbanization and a growing population, governments across the globe are developing smart cities to optimize economic growth and improve the quality of life for citizens. The government is taking extensive initiatives to develop smart urban roads, upgrade water supply, water disposal facilities, and others. According to IBEF, the government of India invested a total of Rs 205,018 crore (US$ 28.31 billion) for the smart city mission in 2020. Thus, the growing development of smart cities is expected to increase the demand for smart highways during the forecast period.
The global smart highway market size is expected to grow from $27.05 billion in 2021 to $32.41 billion in 2022 at a compound annual growth rate (CAGR) of 19.82%. The global smart highway market size is expected to reach $62.37 billion in 2026 at a CAGR of 17.78%.
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North America was the largest region in the smart highway market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global smart highway market during the forecast period. The regions covered in the global smart highway market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the smart highway market are Cisco System Inc., IBM Corporation, Huawei Technologies Co. Ltd., LG CSN, Schneider Electric SE, Siemens AG, Honeywell International Inc., ABB Ltd, ALE International, AT&T Inc., Indra, Alcatel-Lucent, Kapsch TrafficCom AG, Nippon Koei Co., Ltd., and Toshiba Infrastructure Systems & Solutions Corporation.
The global smart highway market is segmented -
1) By Technology: Intelligent Transportation Management System, Intelligent Management System, Communication System, Monitoring System, Others
2) By Component: Hardware, Software, Services
3) By Deployment Mode: On-Premise, Cloud
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The Smart highway Market Report Contents Include
1. Executive Summary
2. Smart Highway Market Characteristics
3. Smart Highway Market Trends And Strategies
4. Impact Of COVID-19 On Smart Highway
5. Smart Highway Market Size And Growth
26. Africa Smart Highway Market
27. Smart Highway Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Highway Market
29. Smart Highway Market Future Outlook and Potential Analysis
This report covers the trends and market dynamics of the smart highway market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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