Global Smart Highways Market Accelerates to $133 Billion by 2030; Intelligent Transportation Management Leads at 17.8% CAGR
Wednesday, August 30, 2023
DUBLIN, Aug. 22, 2023 /PRNewswire/ -- The "Smart Highway: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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The global market for Smart Highway estimated at US$40 Billion in the year 2022, is projected to reach a revised size of US$133 Billion by 2030, growing at a CAGR of 16.2% over the analysis period 2022-2030.
Intelligent Transportation Management, one of the segments analyzed in the report, is projected to record a 17.8% CAGR and reach US$78.4 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Intelligent Traffic Management segment is readjusted to a revised 15.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $16.9 Billion, While China is Forecast to Grow at 14.9% CAGR
The Smart Highway market in the U.S. is estimated at US$16.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.7 Billion by the year 2030 trailing a CAGR of 14.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.4% and 13.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 17.1% CAGR.
Select Competitors (Total 53 Featured) -
-- Alcatel-Lucent SA
-- Cisco Systems, Inc.
-- Huawei Technologies Co., Ltd.
-- Indra Philippines
-- Kapsch AG
-- LG CNS
-- Schneider Electric SA
-- Siemens AG
-- Xerox Corporation
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
-- Influencer Market Insights
-- World Market Trajectories
-- Rise in Smart City Initiatives, the Cornerstone for the Growth of Smart
Transportation
-- Robust Investments in Smart City ICT Technologies Provides the
Foundation for the Growth of Smart Highways in Smart City Enablement:
Global Market for Smart City Technologies (Hardware, Software, and
Services) In US$ Million for the Years 2017 & 2020
-- Growing Investments in Infrastructure Development, Especially Roads &
Highways, Drives Demand for a Broad Array of ITS Technologies
-- The Growing Need to Bridge Infrastructure Gap Which is the Highest for
Roadways Promises Robust Opportunity for Smart Highways: Global
Cumulative Investments in Roadways Vs Actual Need for the Period
2016-2040 (In US$ Billion)
-- Continuous Development of World's Highways to Expand Market
Opportunities for Intelligent Transportation Systems (ITS) & Allied
Markets: Length of Road Networks (In 000 Kilometers) in Top 15 Countries
Worldwide for the Year 2018
-- Proliferation of Smart Cars & Allied Enabling Technologies Preps the
Smart Highway Market for Growth
-- The Unprecedented Rise of Connected Cars as the Future of Driving Fuels
the Viability of Smart Highways: Global Number of Connected Cars Shipped
(In 000 Units) for the Years 2017, 2019 and 2022
-- Vehicle Telematics Plays a Huge Role in Advancing the Concept of Smart
Highways & Smart Roads
-- Telematics Plays a Huge Role in Automating Highways & Improving Safety
on Roads, Which are the Primary Goals of Smart Highways: Global
Automotive Telematics Market (In US$ Billion) for the Years 2017, 2019
and 2022
-- Smart Highway - Global Key Competitors Percentage Market Share in 2022
(E)
-- Competitive Market Presence - Strong/Active/Niche/Trivial for Players
Worldwide in 2022 (E)
-- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
-- Focus on Road User Charging as the Only Sustainable Way to Fund Road
Infrastructure Development Drives Investments in ETC Systems
-- Migration from Manual Toll Gates to Electronic Toll Gates Gains Momentum
-- In a World Where Time is Money, the Rising Economic Cost of Excess
Travel/Transit Delays Strengthens the Business Case for Electronic
Tolling to Manage Vehicular Congestion: Breakdown of Annual Hours of
Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
-- IoT & Cloud Computing Emerge as Linchpin Holding the Smart Highway
Concept Together
-- Cloud Computing, the Workhorse of Data Analysis for Smart Highway
Services
-- Smart Roads Embedded with Sensors Make Road Infrastructure Monitoring
Easy & Cost Effective
-- Smart Parking Emerges as a Solution to Traffic Woes
-- Developments in Advanced Intelligent Video Surveillance System (AIVSS)
to Benefit Intelligent Traffic Surveillance
-- GIS and GPS/GNSS Technology, Vital for Successful Smart Highway
Deployment
-- Special Focus on Multi-Constellation GNSS
-- Wireless Communication Technologies Crucial to Market Growth
-- DSRC (Dedicated Short Range Communications), as a Superior Technology to
RFID Gains in Prominence
-- Automatic Traffic Control & Congestion Monitoring Systems Grow for
Emissions Reduction
-- China Emerges over the Horizon, With the World's Most Ambitious Smart
Highway Plans
-- China Mobile to Become a Pioneer in Setting up the World's First 5G
Smart Highway in Wuhan
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/v7gjvi
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