Press release
Prominent Smart Highway Construction Market Trend for 2025: Strategic Collaborations In Smart Highway Construction Enhanced Digital Transformation
Smart Highway Construction
The smart highway construction market's growth is anticipated to be fuelled by a rising number of vehicles. This increase in vehicle usage is due to a growing urban population, superior spending power, and cutting-edge advancements in car technology. Smart highway construction offers vehicles the advantage of amplified connectivity and data sharing, which in turn provides real-time traffic control and heightened navigation. For example, in May 2023, a report from the Belgium-based European Automobile Manufacturers Association revealed that global motor vehicle production had hit 85.4 million units in 2022. Consequently, the escalating number of vehicles is propelling the growth of the smart highway construction market.
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How will the growth rate of the smart highway construction market shape industry trends by 2034?
In recent years, the smart highway construction market has seen a significant boost. The market size, which was $30.26 billion in 2024, is expected to reach $35.09 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.0%. The historical growth can be credited to factors such as growing government initiatives, escalating urbanization, increasing traffic congestion, enhancing environmental awareness and greater infrastructure investments.
The size of the smart highway construction market is forecasted to experience swift expansion in the coming years. It is estimated to reach $62.98 billion in 2029, with a compound annual growth rate (CAGR) of 15.7%. The surge in the projection period is attributed to the integration of smart technologies, escalating demands for efficiency, government subsidies, increasing traffic flow, and enhancements in urban infrastructure. The forecast period is also marked by trends such as the growing use of AI, increased embrace of eco-friendly technologies, escalating demand for smart infrastructure, proliferation in IoT applications, and a heightened emphasis on sustainability.
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What trends are poised to drive the future success of the smart highway construction market?
Leading firms in the smart highway construction market are prioritizing strategic alliances as a way to foster innovation and increase infrastructure effectiveness. These strategic alliances are essentially partnerships among corporations that pool their resources and expertise to achieve shared objectives and promote innovation. A case in point is Huawei Technologies Co. Ltd., a Chinese based company specializing in ICT infrastructure and smart devices, which unveiled the APAC Smart Road, Waterway, and Port Alliance in May 2023, during its Asia-Pacific Partners convention. The purpose of this alliance is to boost cooperation among partners in the Asia-Pacific area with the objective of designing and executing intelligent transportation solutions (ITS) in support of smart highway projects. Key areas of this include utilizing digital technologies for traffic management, live monitoring, and bottleneck control - all critical ingredients of smart highway structures. The aim is to build competitive infrastructure that not only propels national development but also fuels economic growth and increases the efficiency of transportation systems.
Which primary segments of the smart highway construction market are driving growth and industry transformations?
The smart highway constructionmarket covered in this report is segmented -
1) By Type: Photovoltaic Pavement, Wireless Vehicle Charging, Frost Protection And Melting Snow Ice, Road Markings, Other Types
2) By Source Of Energy: Solar, Wind, Vibration
3) By Application: Government Funding, Other Fundings
Subsegments:
1) Photovoltaic Pavement: Solar Road Panels, Integrated Solar Systems, Energy Harvesting Pavements
2) Wireless Vehicle Charging: Inductive Charging Systems, Dynamic Wireless Charging, Stationary Wireless Charging
3) Frost Protection And Melting Snow Ice: Heating Systems, De-icing Solutions, Embedded Heating Cables
4) Road Markings: Smart Traffic Lines, Thermoplastic Markings, Reflective Markings
5) Other Types: Intelligent Traffic Management Systems, Smart Roadside Infrastructure, Connected Vehicle Technologies
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Which region dominates the smart highway construction market?
North America was the largest region in the smart highway construction market in 2024. The regions covered in the smart highway construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the smart highway construction market landscape?
Major companies operating in the smart highway construction market are Huawei Technologies Co. Ltd., International Business Machines Corporation, Panasonic Corporation, Cisco Systems Inc., Continental Engineering AG, Honeywell International Inc, SAP SE, ABB Ltd, Colas Inc, Indra Incorporation, Heijmans, Costain Group plc, Alcatel-Lucent Inc, Swarco AG, Nippon Koei Group, VINCI Construction, Miovision Inc, RoadBotics Inc, WiTricity Inc, HAAS Alert Inc., Prisma Photonics, Robotiz3d Inc, Urban SDK
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What Is Covered In The Smart Highway Construction Global Market Report?
•Market Size Forecast: Examine the smart highway construction market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart highway construction market for a structured understanding.
•Key Players Overview: Analyze major players in the smart highway construction market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart highway construction market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart highway construction market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart highway construction market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart highway construction market.
•Competitive Landscape: Review strategic developments in the smart highway construction market, including expansions, agreements, and new product launches.
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