Smart Highway Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028F Segmented By Technology (Smart Transport Management System, Smart Traffic Management System and Others) By Component (Hardware and Software), By Region

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Summary

Report Description

Global Smart Highway market is expected to grow at a robust pace in the forecast period 2024-2028, owing to the rise in number of smart cities globally and increasing technology in transport system.

Significant advances in computing technology, such as smart traffic technology and smart vehicle systems, have improved the overall quality of transportation around the world, significantly boosting the valuation of the smart road market. One of the most important objectives of smart roads is smart traffic management. Other features include smart parking systems, electronic toll collection (ETC) and automatic traffic control. One of the main drivers of the market is heavy investment by important companies and government actions to promote good infrastructure development. Electrically connected smart roads are a major trend in the smart roads industry and are expected to continue to grow. The use of advanced transportation technology is therefore becoming a major precursor to successful smart city implementations. The aim is to realize digitized means of transportation through information and communication technology, in order to solve current problems such as traffic congestion, accidents, pollution, fuel costs, fuel shortages, and rising insurance premiums. Smart transportation infrastructure includes smart roads, smart streetlights, smart or self-driving cars, and smart traffic signs, in addition to smart highways. Rising global traffic and demand for more effective traffic management systems create opportunities for smart road market demand to build advanced digital road infrastructure. Infrastructure development in developing markets is expected to contribute to the expansion of the smart road market in the coming years.

Rising Demand propelling the Global Smart Highway Market Growth During the Forecast Period

A smart city is a developed urban area that excels in many key areas such as economy, mobility, environment, people, lifestyle, and government. Smart city developments shall drive the smart highway market. This will lead to sustainable economic growth and a superior quality of life. With increasing urbanization and population growth, governments around the world are developing smart cities to optimize economic growth and improve the quality of life of their citizens. The government has taken extensive initiatives to develop smart urban roads, improved water supply, and water sanitation facilities. According to IBEF, the Indian government invested a total of USD28.31 billion in smart city missions, in 2020. Therefore, increasing smart city development is expected to drive smart highways during the forecast period.

Inadequate transport infrastructure in many countries is the main reason for the increase in car sales. Moreover, due to globalization and urbanization, people's disposable income is increasing. Around 85 million cars were to be sold in 2022, according to the International Organization of Motor Vehicle Manufacturers. However, this increase in the number of vehicles will cause an increase in traffic, especially in urban areas. As a result, there is a growing demand for smart highways and roads that monitor traffic congestion on each road and redirect traffic accordingly for faster and smoother travel.

Integrated technology helps with visibility, power generation, communication with connected and self-driving vehicles, and road condition monitoring. This also helps in collecting and analyzing real-time traffic and vehicle data to reduce road traffic and improve e-tolls, payment gateways and parking experiences. Smart highways can help improve traffic and passenger safety, reduce travel times, and reduce pollution. As a result, these various advantages offered by the technology will further drive the overall demand for smart highways, accelerating the growth of the overall market during the forecast period.


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Latest Market Trends fueling the Global Smart Highway Market Growth during the Forecast Period

  • In 2021, EIT Digital's portfolio startup T.net introduced Smart Road 4.0. This is an innovative system that can significantly improve mobility and road safety on smart roads where connected vehicles receive information and send and receive sensors via smart networks.
  • In 2021, India launched USD5.21 billion smart road project. In this project, 37 km of roads have been under the jurisdiction of Thiruvananthapuram Corporation's Area-Based Development (ABD) and have been upgraded to smart roads by relocating all surface utilities underground.
  • In 2021, Central Logic, an orchestration and healthcare access company, acquired Acuity Link, a provider of transportation communication and logistics management software. Acuity Link technology powers Central Logic's new smart transportation capabilities.

Market Segmentation

The Global Smart Highway Market is bifurcated into technology and component. Based on technology, the market is bifurcated into Smart Transport Management System, Smart Traffic Management System, and Others. Based on Construction Method, the market is further bifurcated into hardware and software.

Market players

The main market players in the Global Smart Highway Market are Alcatel-Lucent Enterprise (Nokia Corporation), Cisco Systems Inc., IBM Corporation, Indra Sistemas S.A., Infineon Technologies AG, Huawei Technologies Co. Ltd., Kapsch AG, LG CNS Co. Ltd (LG Electronics Inc.), Schneider Electric SE, Siemens AG.

Attribute

Details

Base Year

2022

Historic Data

2018– 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2017-2021 and 2022-2027

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments Covered

Technology

Component

Regional scope

North America; Asia-Pacific; Europe; South America; Middle East & Africa

Country scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE

Key companies profiled

Alcatel-Lucent Enterprise (Nokia Corporation), Cisco Systems Inc., IBM Corporation, Indra Sistemas SA, Infineon Technologies AG, Huawei Technologies Co. Ltd., Kapsch AG, LG CNS Co. Ltd (LG Electronics Inc.), Schneider Electric SE, Siemens AG

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Global Smart Highway Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Smart Highway Market, By Technology:

o   Smart Transport Management System

o   Smart Traffic Management System

o   Others

Smart Highway Market, By Component:

o   Hardware

o   Software  

Smart Highway Market, By Region:

o   North America

  • United States
  • Canada
  • Mexico

o   Asia-Pacific

  • India
  • Japan
  • South Korea
  • Australia
  • China

o   Europe

  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain

o   South America

  • Brazil
  • Argentina
  • Colombia

o   Middle East

  • Saudi Arabia
  • South Africa
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Smart Highway Market.

Available Customizations:

Global Smart Highway Market report 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 ten).

The Global Smart Highway Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Service Definition

1.2.  Market Scope

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Impact of COVID-19 Global Smart Highway Market

4.    Executive Summary

5.    Voice of Customers

6.    Global Smart Highway Market

6.1.  Market Size & Forecast

6.1.1.            By Value

6.2.  Market Share & Forecast

6.2.1.            By Technology (Smart Transport Management System, Smart Traffic Management System and Others)

6.2.2.            By Component (Hardware, Software)

6.2.3.            By Region

6.2.4.            By Company

6.3.  Market Map

7.    North America Smart Highway Market Outlook

7.1.  Market Size & Forecast

7.1.1.            By Value

7.2.  Market Share & Forecast

7.2.1.            By Technology

7.2.2.            By Component

7.2.3.            By Country

7.3.  North America: Country Analysis

7.3.1.              United States Smart Highway Market Outlook

7.3.1.1.  Market Size & Forecast

7.3.1.1.1.                By Value 

7.3.1.2.  Market Share & Forecast

7.3.1.2.1.                By Technology

7.3.1.2.2.                By Component

7.3.2.              Canada Smart Highway Market Outlook

7.3.2.1.  Market Size & Forecast

7.3.2.1.1.                By Value 

7.3.2.2.  Market Share & Forecast

7.3.2.2.1.                By Technology

7.3.2.2.2.                By Component

7.3.3.              Mexico Smart Highway Market Outlook

7.3.3.1.  Market Size & Forecast

7.3.3.1.1.                By Value 

7.3.3.2.  Market Share & Forecast

7.3.3.2.1.                By Technology

7.3.3.2.2.                By Component

8.    Asia-Pacific Smart Highway Market Outlook

8.1.  Market Size & Forecast

8.1.1.            By Value

8.2.  Market Share & Forecast

8.2.1.            By Technology

8.2.2.            By Component

8.2.3.            By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.              China Smart Highway Market Outlook

8.3.1.1.  Market Size & Forecast

8.3.1.1.1.                By Value 

8.3.1.2.  Market Share & Forecast

8.3.1.2.1.                By Technology

8.3.1.2.2.                By Component

8.3.2.              India Smart Highway Market Outlook

8.3.2.1.  Market Size & Forecast

8.3.2.1.1.                By Value 

8.3.2.2.  Market Share & Forecast

8.3.2.2.1.                By Technology

8.3.2.2.2.                By Component

8.3.3.              Japan Smart Highway Market Outlook

8.3.3.1.  Market Size & Forecast

8.3.3.1.1.                By Value 

8.3.3.2.  Market Share & Forecast

8.3.3.2.1.                By Technology

8.3.3.2.2.                By Component

8.3.4.              South Korea Smart Highway Market Outlook

8.3.4.1.  Market Size & Forecast

8.3.4.1.1.                By Value 

8.3.4.2.  Market Share & Forecast

8.3.4.2.1.                By Technology

8.3.4.2.2.                By Component

8.3.5.              Australia Digital Smart Highway Market Outlook

8.3.5.1.  Market Size & Forecast

8.3.5.1.1.                By Value 

8.3.5.2.  Market Share & Forecast

8.3.5.2.1.                By Technology

8.3.5.2.2.                By Component

9.    Europe Smart Highway Market Outlook

9.1.  Market Size & Forecast

9.1.1.            By Value

9.2.  Market Share & Forecast

9.2.1.            By Value

9.3.  Market Share & Forecast

9.3.1.            By Technology

9.3.2.            By Component

9.4.  Europe: Country Analysis

9.4.1.            Germany Smart Highway Market Outlook

9.4.1.1.  Market Size & Forecast

9.4.1.1.1.                By Value 

9.4.1.2.  Market Share & Forecast

9.4.1.2.1.                By Technology

9.4.1.2.2.                By Component

9.4.2.              United Kingdom Smart Highway Market Outlook

9.4.2.1.  Market Size & Forecast

9.4.2.1.1.                By Value 

9.4.2.2.  Market Share & Forecast

9.4.2.2.1.                By Technology

9.4.2.2.2.                By Component

9.4.3.              France Smart Highway Market Outlook

9.4.3.1.  Market Size & Forecast

9.4.3.1.1.                By Value 

9.4.3.2.  Market Share & Forecast

9.4.3.2.1.                By Technology

9.4.3.2.2.                By Component

9.4.4.              Spain Smart Highway Market Outlook

9.4.4.1.  Market Size & Forecast

9.4.4.1.1.                By Value 

9.4.4.2.  Market Share & Forecast

9.4.4.2.1.                By Technology

9.4.4.2.2.                By Component

9.4.5.              Italy Smart Highway Market Outlook

9.4.5.1.  Market Share & Forecast

9.4.5.1.1.                By Value 

9.4.5.2.  Market Share & Forecast

9.4.5.2.1.                By Technology

9.4.5.2.2.                By Component

10. South America Smart Highway Market Outlook

10.1.   Market Size & Forecast

10.1.1.          By Value

10.2.   Market Share & Forecast

10.2.1.          By Technology

10.2.2.          By Component

10.2.3.          By Country

10.3.   South America: Country Analysis

10.3.1.          Brazil Smart Highway Market Outlook

10.3.1.1.           Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.           Market Share & Forecast

10.3.1.2.1.         By Technology

10.3.1.2.2.         By Component

10.3.2.          Argentina Smart Highway Market Outlook

10.3.2.1.           Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.           Market Share & Forecast

10.3.2.2.1.         By Technology

10.3.2.2.2.         By Component

10.3.3.          Colombia Smart Highway Market Outlook

10.3.3.1.           Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.           Market Share & Forecast

10.3.3.2.1.         By Technology

10.3.3.2.2.         By Component

11. Middle East & Africa Smart Highway Market Outlook

11.1.   Market Size & Forecast

11.1.1.          By Value

11.2.   Market Share & Forecast

11.2.1.          By Technology

11.2.2.          By Component

11.2.3.          By Country

11.3.   Middle East & Africa: Country Analysis

11.3.1.          Saudi Arabia Smart Highway Market Outlook

11.3.1.1.           Market Size & Forecast

11.3.1.1.1.         By Value 

11.3.1.2.           Market Size & Forecast

11.3.1.2.1.         By Technology

11.3.1.2.2.         By Component

11.3.2.          South Africa Smart Highway Market Outlook

11.3.2.1.           Market Size & Forecast

11.3.2.1.1.         By Value 

11.3.2.2.           Market Size & Forecast

11.3.2.2.1.         By Technology

11.3.2.2.2.         By Component

11.3.3.          UAE Smart Highway Market Outlook

11.3.3.1.           Market Size & Forecast

11.3.3.1.1.         By Value 

11.3.3.2.           Market Size & Forecast

11.3.3.2.1.         By Technology

11.3.3.2.2.         By Component

12. Market Dynamics

12.1.   Drivers

12.1.1.      Smart Cities Propelling the Market

12.1.2.      Technology Shaping the Market

12.2.   Challenges

12.2.1.      High Cost

13. Market Trends & Developments

13.1.   Smart Road 4.0 by EIT Digital's portfolio startup T.net

13.2.   Smart Road projects by India

13.3.   Acquisition of Acuity Link by Central Logic

14. Company Profiles

14.1.   Alcatel-Lucent Enterprise (Nokia Corporation)  

14.1.1.      Business Overview

14.1.2.      Key Revenue and Financials

14.1.3.      Recent Developments

14.1.4.      Key Personnel

14.1.5.      Key Product/Services

14.1.6.      SWOT Analysis

14.2.   Cisco Systems Inc.

14.2.1.      Business Overview

14.2.2.      Key Revenue and Financials

14.2.3.      Recent Developments

14.2.4.      Key Personnel

14.2.5.      Key Product/Services

14.2.6.      SWOT Analysis

14.3.   IBM Corporation

14.3.1.      Business Overview

14.3.2.      Key Revenue and Financials

14.3.3.      Recent Developments

14.3.4.      Key Personnel

14.3.5.      Key Product/Services

14.3.6.      SWOT Analysis

14.4.   Indra Sistemas SA

14.4.1.      Business Overview

14.4.2.      Key Revenue and Financials

14.4.3.      Recent Developments

14.4.4.      Key Personnel

14.4.5.      Key Product/Services

14.4.6.      SWOT Analysis

14.5.   Infineon Technologies AG

14.5.1.      Business Overview

14.5.2.      Key Revenue and Financials

14.5.3.      Recent Developments

14.5.4.      Key Personnel

14.5.5.      Key Product/Services

14.5.6.      SWOT Analysis

14.6.   Huawei Technologies Co. Ltd.

14.6.1.      Business Overview

14.6.2.      Key Revenue and Financials

14.6.3.      Recent Developments

14.6.4.      Key Personnel

14.6.5.      Key Product/Services

14.6.6.      SWOT Analysis

14.7.   Kapsch AG

14.7.1.      Business Overview

14.7.2.      Key Revenue and Financials

14.7.3.      Recent Developments

14.7.4.      Key Personnel

14.7.5.      Key Product/Services

14.7.6.      SWOT Analysis

14.8.   LG CNS Co. Ltd (LG Electronics Inc.)

14.8.1.      Business Overview

14.8.2.      Key Revenue and Financials

14.8.3.      Recent Developments

14.8.4.      Key Personnel

14.8.5.      Key Product/Services

14.8.6.      SWOT Analysis

14.9.   Schneider Electric SE

14.9.1.      Business Overview

14.9.2.      Key Revenue and Financials

14.9.3.      Recent Developments

14.9.4.      Key Personnel

14.9.5.      Key Product/Services

14.9.6.      SWOT Analysis

14.10.Siemens AG

14.10.1.   Business Overview

14.10.2.   Key Revenue and Financials

14.10.3.   Recent Developments

14.10.4.   Key Personnel

14.10.5.   Key Product/Services

14.10.6.   SWOT Analysis

15. Strategic Recommendations

15.1.   Key focus on Smart Transport Management System segment

15.2.   Major focus on North America region

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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A smart highway combines physical infrastructure such as sensors and solar panels with software infrastructure such as Artificial Intelligence (AI) and Big Data. Smart road technology is built into roads to improve visibility, generate energy, communicate with self-driving and connected vehicles, and monitor road conditions.

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Speed Sensors, Acoustic Sensors, IP CCTV cameras, Smart Traffic Lights, Condition and Weather Monitoring Systems, and Digital Signage are used in smart highways.

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Major market players for smart highway market are Alcatel-Lucent Enterprise (Nokia Corporation), Cisco Systems Inc., IBM Corporation, Indra Sistemas S.A., Infineon Technologies AG, Huawei Technologies Co. Ltd., Kapsch AG, LG CNS Co. Ltd (LG Electronics Inc.), Schneider Electric SE, Siemens AG

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Using IoT sensors, cameras, radar, and 5G-enabled technology, data can be analyzed in near real-time and used to improve congested roads and optimize traffic flow. Data can also be sent to the cloud for long-term analysis, providing key insights for efforts such as reducing carbon emissions.

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Sakshi Bajaal

Business Consultant
Press Release

Smart Highway Market to be Dominated by Smart Transport Management System Through 2028.

Apr, 2023

Investment in Smart Cities and Increasing Technologies in Transport Systems are the major factors driving the Global Smart Highway market during the forecast period 2024-2028.

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