Smart Highways Market Size, Business Analysis, Demand, Growth Strategy 2022, Technology Development and Forecast 2027
The global smart highway market is growing at a growth rate (CAGR) of 18.16% during the period 2022-2027.
SHERIDAN, WY, USA, September 21, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Smart Highways Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes market insights into the global smart highways market share. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. The Global smart highway market size reached US$34.8 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$93.3 billion by 2027, showing a growth rate (CAGR) of 18.16% over the period 2022-2027.
Smart highways represent road infrastructure integrated with communication and network technologies to make driving safe and improve connectivity. It uses acoustic and speed sensors, closed circuit television (CCTV) cameras and digital signage as standard solutions powered by the Internet of Things (IoT). These systems alleviate traffic congestion and provide connectivity between multiple autonomous vehicles. Apart from this, smart highways include parking systems, electronic tolls (ETCs) and intelligent traffic management systems that evaluate real-time data to reduce driving time and traffic accidents and minimize traffic accidents. pollution levels.
Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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The growth of the global smart highway market can be attributed to the increasing cases of road accidents and the growing need for smart transportation technologies to deliver improved road safety and data-based control. Additionally, rising greenhouse gas (GHG) emissions and escalating environmental concerns have prompted governments to use the smart highway to reduce carbon footprint by monitoring air quality in time. real. Additionally, growing population, traffic congestion, international trade, and emerging travel trends for educational, business, leisure and recreational purposes complement product demand. In addition, the advent of intelligent transport management systems (STMS) and the integration of advanced electronic toll collection with lane departure warnings, automatic license plate recognition and electronic vehicle (EV) charging systems propel the growth of the market. Additionally, the continuous development of smart cities, significant improvements in existing infrastructure, and strategic collaborations among key players to launch advanced smart highway solutions are supporting the growth of the market.
Competitive Analysis and Segmentation of the Smart Highways Market 2022-2027
Competitive landscape with key players:
• Cisco Systems Inc.
• Honeywell International Inc.
• Huawei Technologies Co Ltd.
• Indra Systems SA
• Infineon Technologies AG
• International Commercial Machinery Society
• Kapsch Aktiengesellschaft
• LG CNS (LG Corporation)
• Nokia Oyj
• Schneider Electric SE
• Siemens AG
• Xerox Holdings Corporation
Competitive analysis and segmentation:
Competitive landscape with key players:
The competitive landscape of the Smart Highways Market has been studied in the report along with the detailed profiles of key players operating in the market.
Key Market Segmentation:
Breakdown by component:
Breakdown by deployment model:
• On the site
Breakdown by technology:
• Intelligent transport management system
• Intelligent traffic management system
• Communication system
• Surveillance system
Breakdown by region:
• North America: (United States, Canada)
• Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, others)
• Middle East and Africa
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Main highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Market trends
• Market drivers and success factors
• Impact of COVID-19
• Value chain analysis
• Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.
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