Press release
Competitive Landscape: Key Market Leaders and New Entrants in the Smart Highway Sector
Smart Highway Market
Projected Market Value and Growth Outlook for the Smart Highway Market
The smart highway market is projected to experience swift expansion, reaching a valuation of $98.71 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 14.8%. The surge is largely fueled by the widespread adoption of connected roadway systems and the growth of autonomous mobility ecosystems. Additionally, increased investments in smart infrastructure, the rising application of AI-driven traffic optimization, and the deployment of cloud-based highway management platforms all contribute to this upward trajectory. Key trends driving market developments include real-time traffic monitoring, the implementation of smart traffic lights with adaptive signaling, automated tolling systems, integration of environmental and road sensors, and ongoing efforts to modernize highways through intelligent technologies.
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Leading Companies Influencing the Smart Highway Industry
A broad range of prominent corporations are actively involved in the smart highway sector. These include Cisco System Inc., International Business Machines Corporation (IBM), Huawei Technologies Co. Ltd., LG Electronics Inc., Schneider Electric SE, Alcatel-Lucent Enterprise, Indra Sistemas SA, Infineon Technologies AG, and HAAS Alert. Other influential players are Miovision, RoadBotics Inc., Urban DK, WiTricity Corporation, Upstream Security, Prisma Photonics, Siemens AG, Xerox Corporation, Kapsch AG, Intelligent Highway Solutions Inc., Vodafone Group PLC, Indra Philippines, Kapsch TrafficCom AG, Panasonic Corporation, Samsung Electronics Co. Ltd., Cubic Corporation, Swarco AG, Traffic Tech Gulf LLC, TransCore LP, Iteris Inc., Clearview Intelligence Ltd., Sensys Gatso Group AB, and Vaisala Oyj.
Strategic Acquisition Enhancing Market Presence
In May 2023, Helios Technologies, a US-based manufacturer specializing in industrial valves, acquired i3 Product Development for an undisclosed amount. This strategic move aims to broaden Helios Technologies' product portfolio and strengthen its market foothold. By combining resources, the company anticipates leveraging synergies to accelerate innovation and operational efficiency. i3 Product Development is recognized for its expertise in product design and development within the manufacturing sector.
View the full smart highway market report:
https://www.thebusinessresearchcompany.com/report/smart-highway-global-market-report
Emerging Trends Shaping the Future of the Smart Highway Market
Cloud-based solutions are becoming a major focus for smart highway companies seeking to increase revenue and improve system performance. These technologies harness cloud computing to manage traffic flow, infrastructure operations, and service delivery on highways, enhancing safety and sustainability. For example, in February 2024, Huawei introduced its Intelligent Transportation System 2.0 (ITS 2.0). The platform utilizes software-defined cameras, radar-integrated cameras, edge computing, and big data analytics to intelligently detect traffic incidents, optimize signal controls, and evaluate traffic conditions. This innovation reportedly boosts overall traffic efficiency by 15%, demonstrating the transformative potential of cloud-based smart highway solutions.
Expanding Market Segments within the Smart Highway Industry
The smart highway market is categorized into several key segments to provide comprehensive insights. These include:
1) Technology: Intelligent Transportation Management System, Intelligent Management System, Communication System, Monitoring System, and Other Technologies.
2) Component: Hardware, Software, and Services.
3) Deployment Mode: On-Premise and Cloud solutions.
Further subdivisions break down the technology segment into:
- Intelligent Transportation Management System, featuring Traffic Signal Control Systems, Traffic Flow Optimization Systems, and Incident Detection and Response Systems.
- Intelligent Management System, which includes Smart Parking Management Systems, Fleet Management Systems, and Roadway Asset Management Systems.
- Communication System, covering Vehicle-to-Infrastructure Communication, Dedicated Short-Range Communications (DSRC), and 5G Communication Systems.
- Monitoring System, with Real-Time Traffic Monitoring Systems, Environmental Monitoring Systems, and Road Condition Monitoring Systems.
- Other Technologies, such as Automated Toll Collection Systems, Smart Lighting Systems, and Integrated Transportation Solutions.
Together, these segments highlight the diverse technological components and deployment methods that define the evolving smart highway market landscape.
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