Report Feature
Smart Highway Trends and Forecast
The future of the global smart highway market looks promising with opportunities in the intelligent transportation management system, intelligent traffic management system, communication system, and monitoring system markets. The global smart highway market is expected to reach an estimated $154.20 billion by 2030 with a CAGR of 19.0% from 2024 to 2030. The major drivers for this market are requirement for better and sustainable highways, rising number of vehicles on the road,and increase in traffic-related injuries.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Smart Highway by Segment
The study includes a forecast for the global smart highway by component, deployment type, technology, and regionSmart Highway Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
• Service
Smart Highway Market by Deployment Model [Shipment Analysis by Value from 2018 to 2030]:
• On-Premises
• Cloud-Based
Smart Highway Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
• Intelligent Transportation Management System
• Intelligent Traffic Management System
• Communication System
• Monitoring System
• Others
Smart Highway Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Smart Highway Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart highway companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart highway companies profiled in this report include-• Cisco Systems
• Honeywell International
• Huawei Technologies
• Indra Sistemas
• Infineon Technologies
• International Business Machines
• Kapsch Aktiengesellschaft
• LG
• Nokia
• Schneider Electric
Smart Highway Market Insights
Lucintel forecast that hardwareis expected to witness highest growth over the forecast period due to growing utilization of modern traffic equipments to enables intelligent traffic management, adaptive signs, and incident detection, which reduces traffic and enhances the driving experience. Intelligent transportation management system is expected to witness highest growth over the forecast perioddue to its ability to reduce traffic, travel times, and improve road safety. North America is expected to witness highest growth over the forecast period due to supportive investment in the construction and road infrastructure, increasing need for intelligent transportation solutions for improved mobility and transportation safety, and rising number of smart infrastructure projects in the region.Features of the Global Smart Highway Market
Market Size Estimates: Smart highway market size estimation in terms of value ($B). Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions. Segmentation Analysis: Smart highway market size by various segments, such as by component, deployment model, technology, technology, and region in terms of value ($B). Regional Analysis: Smart highway market breakdown by North America, Europe, Asia Pacific, and Rest of the World. Growth Opportunities: Analysis of growth opportunities in different component, deployment model, technology, technology, and region for the smart highway market. Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart highway market. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.FAQ
Q.1 What is the smart highway market size? Answer: The global smart highway market is expected to reach an estimated $154.20 billion by 2030. Q.2 What is the growth forecast for smart highway market? Answer: The global smart highway market is expected to grow with a CAGR of 19.0% from 2024 to 2030 Q.3 What are the major drivers influencing the growth of the smart highway market? Answer: The major drivers for this market are requirement for better and sustainable highways, rising number of vehicles on the road,and increase in traffic-related injuries. Q4. What are the major segments for smart highway market? Answer: The future of the smart highway market looks promising with opportunities in the intelligent transportation management system, intelligent traffic management system, communication system, and monitoring system markets. Q5. Who are the key smart highway market companies? Answer: Some of the key smart highway companies are as follows:• Cisco Systems
• Honeywell International
• Huawei Technologies
• Indra Sistemas
• Infineon Technologies
• International Business Machines Corporation
• Kapsch Aktiengesellschaft
• LG
• Nokia
• Schneider Electric Q6. Which smart highway market segment will be the largest in future? Answer: Lucintel forecast that hardwareis expected to witness highest growth over the forecast period due to growing utilization of modern traffic equipments to enables intelligent traffic management, adaptive signs, and incident detection, which reduces traffic and enhances the driving experience. Q7. In smart highway market, which region is expected to be the largest in next 5 years? Answer: North America is expected to witness highest growth over the forecast period due to supportive investment in the construction and road infrastructure, increasing need for intelligent transportation solutions for improved mobility and transportation safety, and rising number of smart infrastructure projects in the region. Q.8 Do we receive customization in this report? Answer: Yes, Lucintel provides 10% customization without any additional cost.
Table of Contents
1. Executive Summary
6.2 Emerging Trends in the Global Smart Highway Market
6.1.1 Growth Opportunities for the Global Smart Highway Market by Component
6.1.2 Growth Opportunities for the Global Smart Highway Market by Deployment Model
6.1.3 Growth Opportunities for the Global Smart Highway Market by Technology
6.1.4 Growth Opportunities for the Global Smart Highway Market Region
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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Key Questions
- • What are some of the most promising, high-growth opportunities for the smart highway market by component (hardware, software and service), deployment mode (on premises and cloud), technology (intelligent transportation management system, intelligent traffic management system, communication system, monitoring system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
- • Which segments will grow at a faster pace and why?
- • Which region will grow at a faster pace and why?
- • What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- • What are the business risks and competitive threats in this market?
- • What are the emerging trends in this market and the reasons behind them?
- • What are some of the changing demands of customers in the market?
- • What are the new developments in the market? Which companies are leading these developments?
- • Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- • What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- • What M&A activity has occurred in the last 5 years and what has its impact been on the industry? For any questions related to Smart Highway Market, Smart Highway Market Size, Smart Highway Market Growth, Smart Highway Market Analysis, Smart Highway Market Report, Smart Highway Market Share, Smart Highway Market Trends, Smart Highway Market Forecast, Smart Highway Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
