DUBLIN, Aug. 22, 2023 /PRNewswire/ — The “Smart Highway: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Smart Highway estimated at US$40 Billion in the year 2022, is projected to reach a revised size of US$133 Billion by 2030, growing at a CAGR of 16.2% over the analysis period 2022-2030.
Intelligent Transportation Management, one of the segments analyzed in the report, is projected to record a 17.8% CAGR and reach US$78.4 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Intelligent Traffic Management segment is readjusted to a revised 15.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $16.9 Billion, While China is Forecast to Grow at 14.9% CAGR
The Smart Highway market in the U.S. is estimated at US$16.9 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$7.7 Billion by the year 2030 trailing a CAGR of 14.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.4% and 13.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 17.1% CAGR.
Select Competitors (Total 53 Featured) –
- Alcatel-Lucent SA
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Indra Philippines
- Kapsch AG
- LG CNS
- Schneider Electric SA
- Siemens AG
- Xerox Corporation
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Rise in Smart City Initiatives, the Cornerstone for the Growth of Smart Transportation
- Robust Investments in Smart City ICT Technologies Provides the Foundation for the Growth of Smart Highways in Smart City Enablement: Global Market for Smart City Technologies (Hardware, Software, and Services) In US$ Million for the Years 2017 & 2020
- Growing Investments in Infrastructure Development, Especially Roads & Highways, Drives Demand for a Broad Array of ITS Technologies
- The Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises Robust Opportunity for Smart Highways: Global Cumulative Investments in Roadways Vs Actual Need for the Period 2016-2040 (In US$ Billion)
- Continuous Development of World’s Highways to Expand Market Opportunities for Intelligent Transportation Systems (ITS) & Allied Markets: Length of Road Networks (In 000 Kilometers) in Top 15 Countries Worldwide for the Year 2018
- Proliferation of Smart Cars & Allied Enabling Technologies Preps the Smart Highway Market for Growth
- The Unprecedented Rise of Connected Cars as the Future of Driving Fuels the Viability of Smart Highways: Global Number of Connected Cars Shipped (In 000 Units) for the Years 2017, 2019 and 2022
- Vehicle Telematics Plays a Huge Role in Advancing the Concept of Smart Highways & Smart Roads
- Telematics Plays a Huge Role in Automating Highways & Improving Safety on Roads, Which are the Primary Goals of Smart Highways: Global Automotive Telematics Market (In US$ Billion) for the Years 2017, 2019 and 2022
- Smart Highway – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Focus on Road User Charging as the Only Sustainable Way to Fund Road Infrastructure Development Drives Investments in ETC Systems
- Migration from Manual Toll Gates to Electronic Toll Gates Gains Momentum
- In a World Where Time is Money, the Rising Economic Cost of Excess Travel/Transit Delays Strengthens the Business Case for Electronic Tolling to Manage Vehicular Congestion: Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
- IoT & Cloud Computing Emerge as Linchpin Holding the Smart Highway Concept Together
- Cloud Computing, the Workhorse of Data Analysis for Smart Highway Services
- Smart Roads Embedded with Sensors Make Road Infrastructure Monitoring Easy & Cost Effective
- Smart Parking Emerges as a Solution to Traffic Woes
- Developments in Advanced Intelligent Video Surveillance System (AIVSS) to Benefit Intelligent Traffic Surveillance
- GIS and GPS/GNSS Technology, Vital for Successful Smart Highway Deployment
- Special Focus on Multi-Constellation GNSS
- Wireless Communication Technologies Crucial to Market Growth
- DSRC (Dedicated Short Range Communications), as a Superior Technology to RFID Gains in Prominence
- Automatic Traffic Control & Congestion Monitoring Systems Grow for Emissions Reduction
- China Emerges over the Horizon, With the World’s Most Ambitious Smart Highway Plans
- China Mobile to Become a Pioneer in Setting up the World’s First 5G Smart Highway in Wuhan
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/v7gjvi
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SOURCE Research and Markets
