Smart Highway Market Increasing at A Phenomenal Pace to reach more than USD 112.68 Billion by 2028

23-Nov-2021 | Zion Market Research

Major companies in Smart Highway market are LG CNS, Schneider Electric, Siemens AG, Kapsch AG, Indra infrastructures, IBM, Cisco, Huawei, Alcatel-Lucent, TrafficCom, Xerox Corporation and others.

According to analysts at Zion Market Research, the global Smart Highway market accounted for more than USD 27.28 Billion in 2020 and is expected to reach more than USD 112.68 Billion by 2028, growing at a CAGR more than of 19.4% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Smart Highway Market by Technology (Intelligent Transportation Management, Intelligent Traffic Management System, Communication System, Monitoring System), by Display (Digital Signage, Message Signs, and Others), by Service (Maintenance and Operation Service, Consultancy Service, Managed Service, and Others), by Deployment (On Cloud and On Premises): Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028.”

Global Smart Highway Market Size

Increased need for safer and reliable transportation to Spur Growth

“The global smart highway market is likely to have a huge growth in coming period. The increased need for more safe, reliable, and efficient transportation is the main reason that has driven the growth of the global market. Adding more to the list, the introduction of Electronic Toll Collection is powering the growth of the global market. Additionally, the growth of the interstate highways market is one of the main factors powering the growth of the global smart highway market. Further, successful deployment of highway technology, solutions, and its increasing adoption is also driving the global smart highway market growth. In addition to this, the introduction of new technologies at an affordable cost for safe, reliable, and efficient transportation is also powering the growth of the global market.

On the contrary, inaccurate driver’s information is hampering the growth of global smart highway market. Moreover, lack of technical knowledge among drivers plays a vital role in the decrement of the global market. Further, inappropriate traffic flow due to poor highway communication infrastructure is one of the main reasons hindering the growth of the global smart highway market. Also, lack of training about the smart highway rules hinders the global market.”

Increased need for safe and efficient transportation in the region to support growth

Area-wise, the global market for the smart highway is bifurcated into the Middle East and Africa, Asia-Pacific, Europe, and North America. The increased need for more safe, reliable, and efficient transportation is boosting the global market in the U.S. and Canada. Successful deployment of highway technology, solutions, and its increasing adoption has elevated the global market in Asia Pacific. Also, the introduction of new technologies at an affordable cost for safe, reliable, and efficient transportation is escalating the global market in Europe.

Browse the full Smart Highway Market By Technology (Intelligent Transportation Management, Intelligent Traffic Management System, Communication System, Monitoring System), By Display (Digital Signage, Message Signs, and Others), By Service (Maintenance and Operation Service, Consultancy Service, Managed Service, and Others) and By Deployment (On Cloud and On Premises): Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/smart-highway-market

The global Smart Highway market is segmented as follows:

By Technology

  • Intelligent Transportation Management System
    • Automatic Number Plate Recognition
    • Lane Departure Warning System
    • Radio Frequency Identification
    • Incident Detection System
    • Others
  • Intelligent Traffic Management System
    • Global Navigation Satellite System
    • Electronic Toll Collection System
    • Real-Time Traffic Management
    • Global Positioning System
    • Others
  • Communication System
    • Emergency Network
    • The Radio Network
    • Data Network
    • Others
  • Monitoring System
    • Weather management
    • Traffic Measurement
    • Video surveillance
    • Others

By Display

  • Variable Digital Signage
  • Message Signs
  • Others

By Service

  • Maintenance and Operation Service
  • Consultancy Service
  • Managed Service
  • Others

By Deployment

  • On Cloud
  • On Premises

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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