India smart highway market is anticipated to grow at a high
CAGR in the forecast period 2025-2029. The Indian Smart Highway business is rapidly
expanding and altering the country's transportation scene. With rapid urbanization,
a growing population, and an emphasis on infrastructure development, smart
roads have emerged as a critical answer to congestion, safety, and efficiency
issues. This note investigates the key drivers of the India Smart Highway
market, the current condition of the sector, notable developments, and the
prospective influence on India's transport environment.
The India smart highway market is rapidly
expanding, transforming the country's transport infrastructure. Smart highways
have arisen as a vital solution to address congestion, safety, and efficiency
concerns as a result of urbanization, population increase, and an emphasis on
infrastructure development. The India Smart Highway market is gaining traction
quickly, altering the country's transport scene and providing a glimpse into
the future of mobility. With increased urbanization, a growing population, and
a focus on infrastructure development, smart roads have emerged as a critical
answer to the difficulties of traffic congestion, safety concerns, and
transportation efficiency. This detailed report digs into the fundamental
drivers driving the India Smart Highway market's growth, examines its current
position, identifies notable advances, and emphasizes the profound impact it
can have on India's transportation ecosystem.
Increasing
Investments in Smart Cities
Over
the next 20 years, the Indian government intends to invest USD 1 trillion on
smart cities. As smart cities require intelligent transportation systems to
manage traffic and improve safety, this investment is likely to increase demand
for smart highway technologies. Smart city investments have created several
prospects for the expansion of the India smart highway market. The funds
designated for smart city development are used to modernize existing roadways,
build new motorways, and deploy smart technologies for traffic control and
infrastructure monitoring. The integration of intelligent transport systems is
a critical part of the smart highway market in the context of smart cities.
These systems include technology, such as traffic management systems, adaptive signaling,
and real-time data collection and analysis. Smart highways can monitor traffic
patterns, optimize traffic flow, and minimize congestion by utilising these
systems, resulting in increased mobility and reduced trip time for commuters. The
investments in smart cities have facilitated the adoption of emerging
technologies in the smart highway sector. This includes the implementation of
connected vehicle solutions, where vehicles can communicate with infrastructure
and other vehicles, leading to improved safety, efficient traffic management,
and reduced emissions. Additionally, the focus on sustainability and
environmental consciousness in smart cities has propelled the adoption of
electric vehicle charging infrastructure along smart highways.
The
investments in the India smart highway market have also led to collaborations
between the government and private sector entities. Public-private partnerships
(PPPs) have become instrumental in implementing smart highway projects by
leveraging the expertise and resources of private companies, ensuring efficient
execution and timely delivery.
In
conclusion, the increasing investments in smart cities have spurred the growth
of the India smart highway market. These investments have allowed for the
integration of advanced technologies, intelligent transportation systems, and collaborative
efforts between the public and private sectors. As a result, smart highways are
playing a crucial role in transforming India's urban transportation
infrastructure, enhancing mobility, and improving the overall quality of life
for citizens.
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Rising Adoption of Connected and Autonomous
Vehicles
The growing popularity of
connected and autonomous cars (CAVs) is predicted to have a substantial impact
on India's smart highway sector. CAVs are vehicles outfitted with advanced
sensors, communication systems, and artificial intelligence that allow them to
function without or with minimal human interaction. These vehicles have the
potential to transform the transportation industry, and smart roads will be
critical in facilitating their deployment and assuring their safe and efficient
operation. Connected and autonomous
vehicles require a robust infrastructure to function optimally. Smart highways
equipped with advanced communication systems, sensors, and data networks are
essential for facilitating vehicle-to-infrastructure (V2I) and
vehicle-to-vehicle (V2V) communication. This connectivity enables CAVs to
receive real-time information about road conditions, traffic patterns, and
potential hazards, enhancing safety and efficiency. CAVs have the potential to revolutionize
traffic management on highways. Through V2I communication, these vehicles can
receive real-time information about traffic congestion, optimize their routes,
and adjust their speed, accordingly, leading to improved traffic flow and
reduced congestion. Smart highways with advanced traffic management systems and
infrastructure can support the efficient integration and operation of CAVs,
ensuring a smooth and seamless traffic experience. Connected and autonomous
vehicles have the potential to contribute to energy efficiency and
environmental sustainability goals. Through intelligent routing, adaptive
cruise control, and predictive maintenance capabilities, CAVs can optimize fuel
consumption and reduce emissions. Smart highways with integrated renewable
energy solutions, electric vehicle charging infrastructure, and smart grid
connectivity can support the adoption and operation of CAVs, promoting a
greener transportation ecosystem. The increasing deployment of linked and
self-driving vehicles will have a dramatic impact on India's smart highway
sector. Smart highways with modern communication systems, infrastructural
support, and intelligent traffic management skills will be critical for CAVs to
operate safely and efficiently. India can pave the path for a future of safer,
more efficient, and greener transportation by embracing this technology
transition.
Growing Need to Improve Traffic Safety and
Efficiency
The growing demand to improve
traffic safety and efficiency is driving the development of smart motorways in
India. As the country's population and urbanization grow, so does the need for
better transportation infrastructure and administration. Smart highways use
cutting-edge technologies and sophisticated systems to improve road safety,
traffic flow, and overall transportation efficiency. Sensors, cameras,
communication networks, and data analytics are used on these highways to
monitor traffic conditions, manage congestion, and deliver real-time
information to drivers. Rapid urbanization and rising automobile ownership in
India have resulted in substantial traffic congestion and road accidents. As a
result, smart highway solutions to address these difficulties are urgently
needed. The goal is to develop safer and more efficient road networks by using
technology such as intelligent transportation systems, real-time traffic
monitoring, and smart signaling systems. Smart highways can provide various
advantages, including fewer accidents and fatalities, better traffic
management, increased fuel efficiency, shorter travel times, and lower carbon
emissions. These benefits are especially important in countries like India,
where road safety and traffic management are big concerns.
The Indian government has
launched a number of projects and programs to develop smart highways. The
Ministry of Road Transport and motorways, for example, has started the
"Intelligent Transport Systems" project to install smart technologies
on motorways and urban roadways. To improve traffic efficiency and safety, tolling
systems, electronic toll collecting, and real-time traffic information systems
are being implemented.
Recent Developments
- In December 2021, Zuppa, owned by Chennai-based Larsen
& Toubro Limited Pvt. Ltd. (SSAI), announced its intensions to utilize the
cash to build up its existing products, which were created using proprietary
technology. Penetration of current markets, development of fresh applications
for its core drone technology, and expansion of the base for its Vehicle
Tracking and Telematics Systems (VTS) are all on the agenda.
- In October 2022, T.net, an EIT Digital
portfolio firm, launched Smart Road 4.0, an innovative technology capable of
dramatically enhancing mobility and road safety in a smart road, an area in
which connected vehicles send and receive data over a network of intelligent
sensors.
Market
Segments
The India Smart Highway market is segmented into technology,
display, service, end-user industry and region. Based on Technology, the market
is segmented into Intelligent transportation management system (ITS) and Intelligent
traffic management system (ITMS), Communication system and Monitoring system.
Based on Display, the market is divided into Variable Message Signs (VMS), Digital
signage and Others, Distributed Control System (DCS) and Human Machine Interface
(HMI). Based
on Service, the market is segmented into
Managed service, Maintenance and operation service and Consultancy service. Based on
End-User Industry, the market is segmented into Urban Smart Highways and Rural
Smart Highways. The market analysis also studies the regional segmentation to
devise regional market segmentation, divided among East India, West India,
North India, and South India
Market Players
Major
market players of India smart highway
market are Larsen & Toubro Limited, Tata Projects
Limited, Mts Systems Corporation, Schneider Electric India, Cisco Systems India
Private Limited, Siemens Limited, IBM India, ABB India Limited, Honeywell
Automation India Limited, Essel Infraprojects Limited, and Reliance Infrastructure
Limited. To achieve good market growth, businesses that are
active in the market employ organic tactics, such as product launches, mergers,
and partnerships.
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Attribute
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Details
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Base Year
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2023
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Historic
Data
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2019 – 2022
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Estimated Year
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2024
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Forecast
Period
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2025 – 2029
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Quantitative Units
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Revenue in USD Million, and CAGR for
2019-2023 and 2024-2029
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Report
coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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By Technology
By Display
By Service
By End-User Industry
By Region
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Regional
scope
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East India,
West India, North India, South India
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Key companies profiled
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Larsen
& Toubro Limited, Tata Projects Limited, Schneider Electric India, Cisco
Systems India Private Limited, Siemens Limited, IBM India, ABB India Limited,
Honeywell Automation India Limited, Essel Infraprojects Limited, Reliance
Infrastructure Limited.
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Customization
scope
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10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
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|
Pricing and purchase options
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Avail customized purchase options to
meet your exact research needs. Explore purchase options
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Delivery
Format
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PDF and Excel through Email
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special request)
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Report Scope:
In this report, India Smart Highway
Market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:·
India Smart Highway Market, By Technology
o Intelligent transportation
management system (ITS)
o Intelligent traffic management
system (ITMS)
o Communication system
o Monitoring system
·
India Smart Highway Market, By Display
o Variable Message Signs (VMS)
o Digital signage
o Others
·
India Smart Highway Market, By Service
o Managed service
o Maintenance and operation service
o Consultancy service
·
India Smart Highway Market, By End-User Industry
o Urban Smart Highways
o Rural Smart Highways
·
India Smart Highway Market, By Region:
o East India
o West India
o North India
o South India
Competitive Landscape
Company Profiles: Detailed analysis of
the major companies present in India Smart Highway Market
Available Customizations:
India Smart Highway Market with
the given market data, Tech Sci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
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