Global Smart Highways Market is estimated to grow at a CAGR of 16.19% from 2032

Smart Highways Market Highlights

In this rapidly changing environment, highways are the most important elements connecting different regions. Taking into consideration different issues like safety and reliability, smart highways are the most important revolutions in the transport industry. The higher demand for travel and awareness about the time being consumed are driving the smart highways market.

Smart Highways Market is projected to grow from USD 29.43 Billion in 2024 to USD 97.76 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.19% during the forecast period (2024 - 2032).

Constant improvements in the computer technologies and systems have changed the quality of travel and transportation. The technologies are ranging from advanced vehicle systems to intelligent traffic management systems.

The concept of smart highway is to minimize traffic congestion, reduce the road accidents, and minimize the travel time. The technologies which are implemented in the smart highway are lane departure warning system, automatic number plate recognition, incident detection system, and many more.

The smart highways market is growing rapidly over 16% of CAGR and is expected to reach at approx. USD 44 billion by the end of forecast period.

Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Smart Highways Market Research Report -Forecast to 2023”.Smart Highways Market Segmentation

The smart highways market has broadly been segmented on the basis of technology, display system, service and deployment. On the basis of technology, the global smart highway system can be segmented into intelligent transport management system, intelligent traffic management system, intelligent communication system and intelligent monitoring system.

By service, the global smart highway market can be segmented into maintenance and operation services, consultancy services and managed services. By deployment, the global smart highway market can be segmented into on-cloud and on-premise. By displays, the global smart highway market can be segmented into digital signage, variable signage and others.

The prominent players in the smart highways market are- LG CNS Corporation (South Korea), Alcatel-Lucent S.A. (France), Siemens AG (Germany), Kapsch AG (Austria), Cisco Systems (U.S.), Indra Sistemas, S.A. (Spain), IBM Corporation (U.S.), Schneider Electric SE (France), Huawei Technologies Co. Ltd. (China), TrafficCom (Austria), Xerox Corporation (U.S.), among others.

Market Research Analysis:

Regional analysis for smart highways market is studied in different geographic regions as America, Europe, Asia-Pacific and Rest of the World.

The major forces driving this market are the need for more reliable, safe, and congestion free travel experience. This increased need is playing a major role in shaping the future of smart highways market.

The study reveals that Asia-Pacific region is the fastest growing market and is expected to be the biggest market on the basis of need for advancements and execution of smart cities projects.