Smart Highway Global Market Size, Share, By Component, By Technology, By Display, By Deployment, By Service, By Region Forecast to 2033 | Cisco System Inc., HAAS Alert, Miovision, RoadBotics Inc., Tevva Motors

Smart Highway Market
Spread the love

Overview and Scope
Smart highway refers to technologically advanced roads integrated with advanced technologies and sensors for improved management and sustainable traffic flow. Smart highways can help reduce the alarming number of traffic fatalities and the hours wasted in backups. Smooth traffic flow results in more efficient fuel use and even fewer roads when they are constructed.

Sizing and Forecast
The smart highway market size has grown rapidly in recent years. It will grow from $37.18 billion in 2023 to $43.24 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing urban population, the rise in traffic congestion, growing environmental concerns, safety improvements, government investments and initiatives for infrastructure development.

The smart highway market size is expected to see rapid growth in the next few years. It will grow to $76.57 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%.  The growth in the forecast period can be attributed to connected and autonomous vehicles (cavs), renewable energy integration, sustainability, emergency response integration, technological advancements. Major trends in the forecast period include connected vehicle technology, solar roadways, dynamic road markings, eco-friendly materials, electrification of roadways.

To access more details regarding this report, visit the link:

https://www.thebusinessresearchcompany.com/report/smart-highway-global-market-report

Segmentation & Regional Insights
The smart highway market covered in this report is segmented –

1) By Technology: Intelligent Transportation Management System, Intelligent Management System, Communication System, Monitoring System, Other Technologies
2) By Component: Hardware, Software, Services
3) By Deployment Mode: On-Premise, Cloud

North America was the largest region in the smart highway market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart highway market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7050&type=smp

Major Driver Impacting Market Growth
The development of smart cities is driving the smart highway market. A smart city is a developed urban area that excels in a number of critical areas, including economy, mobility, environment, people, lifestyle, and government. This results in sustainable economic growth and excellent quality of life. Due to rising urbanization and the growing population, governments across the globe are developing smart cities to optimize economic growth and improve the quality of life for citizens. The government is taking extensive initiatives to develop smart urban roads, upgraded water supply, water disposal facilities, and others. In April 2022, the U.S. federal government launched strengthening mobility and revolutionizing transportation (SMART) grant program. SMART funding program, has allocated $500 million to smart city initiatives, is a noteworthy initiative that supports and encourages the development of sustainable and intelligent transportation solutions in smart cities. Thus, the growing development of smart cities is expected to demand smart highways during the forecast period .

Key Industry Players
Major companies operating in the smart highway market include  Cisco System Inc., International Business Machines Corporation (IBM), Huawei Technologies Co. Ltd., LG Electronics Inc., Schneider Electric SE, Alcatel-Lucent Enterprise, Indra Sistemas SA, Infineon Technologies AG, HAAS Alert, Miovision, RoadBotics Inc., Tevva Motors, Urban DK, WiTricity Corporation, Upstream Security, Prisma Photonics, Siemens AG, Xerox Corporation, Kapsch AG, Intelligent Highway Solutions Inc., Vodafone Group PLC, Indra Philippines, Kapsch TrafficCom AG, Panasonic Corporation, Samsung Electronics Co. Ltd., Cubic Corporation, Swarco AG, Traffic Tech Gulf LLC, TransCore LP, Iteris Inc., Clearview Intelligence Ltd., Sensys Gatso Group AB, Vaisala Oyj

The smart highway market report table of contents includes:
1. Executive Summary

  1. Smart Highway Market Characteristics
  2. Smart Highway Market Trends And Strategies
  3. Smart Highway Market – Macro Economic Scenario
  4. Global Smart Highway Market Size and Growth

…..

  1. Global Smart Highway Market Competitive Benchmarking
  2. Global Smart Highway Market Competitive Dashboard
  3. Key Mergers And Acquisitions In The Smart Highway Market
  4. Smart Highway Market Future Outlook and Potential Analysis
  5. Appendix

Explore the trending research reports from TBRC:

https://topprnews.com/non-volatile-memory-express-market

https://topprnews.com/oral-care-market-size

https://topprnews.com/panel-filters-market-growth

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info

Healthcare Blog: https://healthcareresearchreports.com

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model


Spread the love

About Top PR News

TopPRnews Leads Drives Search Engine Visibility For Your Press Release Content. Our Global Network Reaches Important Contacts, Media Partners And Websites And Journalists. Happy Postings! If You Have Any Queries Please Contact Official Mail At [[email protected]}

View all posts by Top PR News →