Pune, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Smart Highways Market had a valuation of $25.47 billion in 2022. Projections suggest that it could reach $95.09 billion by 2030, experiencing a compound annual growth rate (CAGR) of 17.9% throughout the forecast duration spanning from 2023 to 2030”.
Market Report Scope
Smart highways, also known as intelligent highways or smart roads, refer to an innovative and technologically advanced approach to designing and managing roadways. These highways incorporate various cutting-edge technologies to enhance safety, efficiency, sustainability, and overall user experience. Unlike traditional roads that merely serve as conduits for vehicular traffic, smart highways integrate a range of digital features to create a more interconnected and adaptable transportation network.
Download Free PDF Sample Report: https://www.snsinsider.com/sample-request/3200
Market Analysis
The global landscape of transportation is rapidly evolving, and at the forefront of this transformation are smart highways. These innovative roadways, equipped with cutting-edge technologies and integrated systems, are poised to revolutionize the way we perceive and utilize transportation networks. The smart highways market is experiencing robust growth, driven by a confluence of factors that promise enhanced safety, efficiency, and sustainability. The surge in technological advancements, particularly in fields like Internet of Things (IoT), sensors, and data analytics, has paved the way for the development of smart highways. These technologies enable the creation of interconnected road networks that can monitor traffic, weather conditions, and vehicle movements in real time.
Smart Highways Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 25.47 billion |
| Market Size by 2030 | USD 95.09 billion |
| CAGR | CAGR of 17.9% |
| Key Segments | By Displays (Variable Message Signs, Digital Signage, and Others) By Technology (Intelligent Transportation Management System, Communication System, Intelligent Management System, Monitoring System, and Others) By Service (Managed Service, Consultancy Service, and Maintenance and Operation Service) By Deployments (On-Cloud and On-Premises) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico) Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe) Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific) The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa) Latin America (Brazil, Argentina, Rest of Latin America) |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
| Pricing & Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options. |
Impact of Recession
Despite potential challenges, it's important to note that smart highways' long-term prospects remain positive. Economic downturns are cyclical, and eventually, economies recover. As they do, governments and private entities may reinvest in infrastructure projects, including smart highways, as a means of stimulating economic growth and creating jobs. The efficiency and sustainability benefits offered by smart highway systems could make them an attractive choice once economic conditions improve.
Impact of Russia-Ukraine War
The Russia-Ukraine war has cast a shadow of uncertainty over various industries, including the emerging smart highways market. While some of the impacts are direct, such as disrupted supply chains and cybersecurity concerns, others are more indirect, like changes in government priorities and economic instability. The long-term consequences will depend on the duration and intensity of the conflict, as well as the ability of governments and stakeholders to adapt to the evolving situation while continuing to invest in technological advancements and infrastructure development.
Key Regional Development
The smart highways market's regional dynamics are shaped by a multitude of factors, including technological innovation, government policies, economic conditions, and local infrastructure needs. The adoption of smart highway technologies is driven by a common goal: to create safer, more efficient, and sustainable transportation networks that cater to the unique challenges and opportunities of each region. As technology continues to advance and global awareness of environmental issues grows, the market is poised to witness further expansion and transformation across the globe.
Key Takeaway from Smart Highways Market Study
- At the heart of the smart highway revolution lies the Communication System Segment. This segment is the linchpin that enables seamless interaction between various components of the highway ecosystem, including vehicles, sensors, traffic management systems, and even pedestrians.
- The Managed Service Segment is the dynamic engine that ensures the optimal operation and maintenance of smart highways. In an environment teeming with complex sensors, data streams, and interconnected devices, managing and interpreting this influx of information can be overwhelming. This is where managed services step in.
Recent Developments Related to Smart Highways Market
- In a groundbreaking collaboration, Plus, a leading autonomous trucking company, has joined forces with the Malaysian Global Innovation & Creativity Centre (MaGIC) to embark on an ambitious venture aimed at revolutionizing the transportation industry.
- In a strategic move set to reshape the healthcare access landscape, Central Logic has successfully completed its acquisition of Acuity Link, a cutting-edge provider of transportation communications and logistics management software.
Buy Complete Research Report Which Provide Detail Impact Analysis of COVID-19, Russia-Ukraine War & Ongoing Recession: https://www.snsinsider.com/checkout/3200
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Smart Highways Market Segmentation, By Displays
8.1 Variable Message Signs
8.2 Digital Signage
8.3 Others
9. Smart Highways Market Segmentation, By Technology
9.1 Intelligent Transportation Management System
9.2 Communication System
9.3 Intelligent Management System
9.4 Monitoring System
9.5 Others
10. Smart Highways Market Segmentation, By Service
10.1 Managed Service
10.2 Consultancy Service
10.3 Maintenance and Operation Service
11. Smart Highways Market Segmentation, By Deployments
11.1 On-Cloud
11.2 On-Premises
12. Regional Analysis
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Middle East & Africa
12.6. Latin America
13 Company Profile
13.1 Cisco Systems Inc.
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Product/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Huawei Technologies Co. Ltd.
13.3 Alcatel-Lucent S.A.
13.4 Kapsch AG
13.5 TrafficCom
13.6 IBM
13.7 Indra Sistemas S.A.
13.8 Schneider Electric
13.9 Siemens
13.10 Xerox Corporation
13.11 LG CNS Corporation
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
About SNS Insider
At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That's why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.
