The Smart Highway Market : Global Opportunity Analysis and Industry Forecast 2019-2026

According to the report published by Allied Market Research, The Smart Highway Market : Global Opportunity Analysis and Industry Forecast 2019-2026. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Increase in the number of vehicles on the road and surge in road traffic injuries drive the growth of the market. In addition, increase in international trade among the emerging countries across the globe fuels the smart highway market growth. However, high initial and maintenance cost and lack of appropriate technical knowledge among the end users hamper the growth of the market. Furthermore, rise in advance technologies in the transportation sector and emergence of smart vehicles are expected to provide lucrative opportunities for the growth of the global market.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/756

The global smart highway market size was valued at $23.67 billion in 2018, and is projected to reach $92.38 billion by 2026, growing at a CAGR of 18.7% from 2019 to 2026.

Smart Highways are installed to integrate technologies such as developing solar energy with photovoltaic pavements, refining the operation of transport vehicles, and for monitoring the condition of the highway and roads. In addition, smart roads generally consist of different computing technologies, such as sensors and smart monitoring systems, which are all linked into a monitoring unit.

Smart highways integrate various technologies to improve traffic management, safety, and sustainability. Key components include intelligent transportation management systems (ITMS), intelligent traffic management systems, communication systems, and monitoring systems​. ITMS, which encompasses technologies like lane departure warning systems, automatic number plate recognition, and incident detection systems, represents the largest segment in the market due to its critical role in optimizing traffic flow and enhancing road safety​.

For Report Customization: https://www.alliedmarketresearch.com/connect-to-analyst/756

Based on deployment, the on-premise segment contributed to nearly three-fifths of the global smart highway market revenue in 2018, and is anticipated to lead the trail from 2019 to 2026. Increase in adoption of these systems due to enhanced security features provided by the on-premise models have boosted the growth of the segment. The cloud segment, on the other hand, would manifest the fastest CAGR of 22.3% during the estimated period, owing to the emergence of an array of different services provided by the cloud.

Based on components, the hardware segment accounted for nearly three-fifths of the global smart highway market share in 2018, and is expected to retain its dominance throughout the forecast period. The fact that hardware components of smart highway are cheaper than software and are faster to deploy fuel the growth of the segment. At the same time, the services segment would portray the fastest CAGR of 22.9% by the end of 2026. Rise in demand for different services such as managed services and professional services drives the segment growth.

By technology, the global smart highway market was led by the intelligent transportation management system segment in 2018 and is projected to maintain its dominance during the forecast period. The major factors that drive the adoption of intelligent transportation management system in smart highway market include rise in adoption of smart transport system to reduce the traffic congestion problems and various government initiatives for smart transport infrastructure. However, the monitoring system segment is expected to grow at a highest rate during the forecast period, owing to surge in adoption of various monitoring system for tracking the speed of the vehicle and to increase the safety of the road.

Buy Now & Get Upto 50% Discount on Exclusive Report at: https://www.alliedmarketresearch.com/smart-highway-market/purchase-options

Region-wise, the smart highway market was dominated by North America in 2018 and is expected to retain its position during the forecast period. The major factors that drive the growth of the market in this region include growing demand for smart road from several developed countries and increase in government funding for development of smart roads. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period due to technological advancement and different government initiatives for smart highway projects.

Major players in the smart highway market include Alcatel-Lucent Enterprise (Nokia Corporation), Cisco Systems Inc., IBM Corporation, Indra Sistemas SA, and Infineon Technologies AG. These companies are focusing on partnerships, acquisitions, and the development of innovative solutions to maintain a competitive edge​.

Overall, the smart highway market is poised for robust growth, driven by ongoing investments in infrastructure, the rise of connected and autonomous vehicles, and the increasing emphasis on sustainable and intelligent transportation systems.

Access the full summary at: https://www.alliedmarketresearch.com/smart-highway-market

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have special requirements, please tell us, and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur's stakeholder's researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.