Prominent Smart Roads Market Trend for 2025: Advanced Neural Network Solutions Revolutionizing Intersection Safety And Traffic Management

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What market dynamics are playing a key role in accelerating the growth of the smart roads market?
The upward trend in highway accidents is anticipated to drive increased evolution in the smart road market. A highway accident is an unplanned and unplanned event that involves one or more vehicles on a highway or expressway, leading to property damage, injuries, or even deaths. The factors contributing to these escalations are weather circumstances, issues with vehicle maintenance, heavy traffic, impaired driving, and inferior road conditions. Intelligent roads aid in curtailing highway mishaps by enhancing traffic control and safety via real-time surveillance, communication between vehicle and infrastructure, and automatic accident identification, bringing about an improvement in the overall safety on the roads. As per a May 2023 report from the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australian government agency that provides statistics and economic analysis related to transport and infrastructure, the casualties due to road crashes ascended to 1,194 in 2022, registering a 5.8% growth versus 2021. Thus, the escalating count of highway accidents is propelling the smart road market's growth.

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How will the growth rate of the smart roads market shape industry trends by 2034?
The size of the smart roads market has been expanding rapidly over the past few years. Its growth is projected to swell from $16.35 billion in 2024 to $20.59 billion in 2025, with a compound annual growth rate (CAGR) calculated at 26.0%. Such spectacular growth in the historical period is due to factors like an increased emphasis on road safety and accident prevention, the escalation in traffic-related injuries, the rising demand for intelligent highways, an intensified need for efficient transit solutions, and the growth of the global population.

The next few years are expected to witness a substantial expansion in the smart roads market, with forecasts suggesting that it will reach a valuation of $51.19 billion in 2029, growing at a compound annual growth rate (CAGR) of 25.6%. This surge throughout the forecast period is due to factors like the growing attraction towards corporate travel, an upsurge in highway mishaps, increased funding in the transport and construction sectors, augmented need for improved safety and convenience for commuters, and the escalating adoption of autonomous and connected vehicles. Notable trends for this period encompass the incorporation of Internet of Things (IoT) technology, the creation of infrastructure for autonomous vehicles, a heightened emphasis on sustainability and environment-friendly materials, the enhancement of road safety via cutting-edge sensor technologies, and the prevalent usage of big data analytics to predict traffic patterns.

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What trends are poised to drive the future success of the smart roads market?
In the smart roads sector, leading corporations are concentrating on the invention of sophisticated solutions like turnkey solutions to improve traffic regulation and augment road safety. A turnkey solution is a fully functioning, ready-to-use product or service, fashioned, and executed by a supplier that requires little to no alterations by the customer. For example, in July 2024, Intelligent Security Systems (ISS), a firm from the USA specializing in video intelligence and data awareness solutions, presented Intellisection, their latest turnkey solution for the automated surveillance of intersections. This superior automated solution excels in identifying, calculating and distinguishing all types of road users, be it vehicles, pedestrians, cyclists, or mobility equipment. It bolsters safety by enabling red-light breach monitoring, near-miss scrutiny, and collision detection. It alerts in real-time through email, text, and browser notifications for a speedy reaction to incidents. It can manage multi-vehicle scenarios across various lanes concurrently, making it suitable for intricate intersections. Complying with NEMA TS-2 standards, it promises to be highly reliable and durable under a range of conditions.

Which primary segments of the smart roads market are driving growth and industry transformations?
The smart roadsmarket covered in this report is segmented -

1) By Type: Transportation And Communication System, Traffic Management System, Other Types
2) By Component: Hardware, Software, Service
3) By Deployment Mode: On-Premise, Cloud
4) By Technology: Intelligent Transportation Management System, Intelligent Management System, Communication System, Monitoring System, Other Technologies
5) By Application: Urban Traffic Management, Highway Traffic Management, Parking Management, Other Applications

Subsegments:
1) By Transportation And Communication System: Vehicle-To-Vehicle (V2V) Communication, Vehicle-To-Infrastructure (V2I) Communication, Intelligent Transportation Systems (ITS), Smart Traffic Signals
2) By Traffic Management System: Traffic Monitoring Systems, Traffic Control Systems, Incident Management Systems, Traffic Flow Optimization Systems
3) By Other Types: Smart Parking Solutions, Road Weather Information Systems (RWIS), Automated Toll Collection Systems

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Which geographical regions are pioneering growth in the smart roads market?
North America was the largest region in the smart roads market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart roads market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the smart roads market landscape?
Major companies operating in the smart roads market are Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, Intel Corporation, Panasonic Holdings Corporation, International Business Machines Corporation, Cisco Systems Inc., Nokia Corporation, Thales Group, Infineon Technologies AG, WSP Global Inc., Indra Sistemas SA, Cubic Corporation, Alcatel-Lucent Enterprise, SWARCO INDUSTRIES Inc., TransCor, Sierra Wireless Inc., Genetec Inc., Iteris Inc., Econolite Group Inc., Intelligent Security Systems, Kapsch TrafficCom AG

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What Is Covered In The Smart Roads Global Market Report?

•Market Size Forecast: Examine the smart roads market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart roads market for a structured understanding.
•Key Players Overview: Analyze major players in the smart roads market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart roads market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart roads market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart roads market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart roads market.
•Competitive Landscape: Review strategic developments in the smart roads market, including expansions, agreements, and new product launches.

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