Global Smart Highway Market 2022 is expected to grow at a CAGR of 18% and forecast to 2028

The smart highway market is valued at around USD 27.81 billion in 2019 and is expected to grow with a healthy growth rate of over 18% over the forecast period 2020-2026.

This press release was originally distributed by SBWire

London, UK – (SBWIRE) – 02/17/2022 – publishes a new market study on – “Smart Highway Market Global Outlook and Research 2022-2028”.

Smart highways include smart computing technologies, sensors and intelligent monitoring systems, all linked into a single monitoring unit. Smart highways monitor the traffic jams on each road and consequently avoid traffic to have a smoother and faster journey. Growing need for durable and reliable roads, increasing number of vehicles on the road as well as growing need to reduce traffic accidents are key factors influencing the global market. According to the International Organization of Motor Vehicle Manufacturers, the number of motor vehicle sales rose to 95 million units in 2018 from 75 million in 2010.

In addition, according to the WHO, approximately 1.35 million people die each year as a result of road accidents worldwide. With these road traffic congestion problems, it is necessary to reduce the number of road injuries, moreover smart highways are considered as one of the best solutions to this problem. The many components of smart highways, such as smart lighting systems, traffic management systems and speed monitoring techniques, are created to reduce traffic accidents. Rising awareness of the benefits of smart highways, such as reducing traffic congestion, is propelling the smart highway market too considerably. Furthermore, technological advancements in the transportation sector along with the emergence of smart vehicles are expected to create significant growth opportunities in the market over the forecast period. However, high initial and maintenance costs are hampering the growth of the market during the forecast period 2020-2026.

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Major Company Profiles included in the Smart Highways Market are:

-Alcatel-Lucent SA
-Cisco Systems Inc.
-IBM Corporation
-Indra Systems SA
-Infineon Technologies AG
-Intelligent Highway Solutions Inc.
-Kapsch AG
-LG CNS Co.Ltd
-Schneider Electric SE
-Siemens AG

Most up-to-date studies will offer you well-known assessment of the global Smart Highways market along with elements influencing future growth, capacity possibilities, and cutting-edge trends. This report gives a top view of the over-researched market. The statement studies the earnings market duration in addition to market drivers, restraints, and opportunities over the forecast period 2022-2028. The appearance further represents the competitive outlook of the agency’s crucial competition, similar to the percentage market share of top agencies.

This look appears on Global Smart Highway Market Share, Segmentation, Fee Increase, and Revenue Percentage Comparisons. Market research helps you look at a number of crucial variables, with regards to product execution, market percentage boom, and investing in a growing market, to name a few. . This review studies the smart highway market in depth. The market estimates and forecasts contained in the study report are mainly based on major secondary studies, primary interviews, and resident expert examinations. These market forecasts and estimates consider the impact of several available political, social, and monetary issues on the market boom similar to the current market conditions.

Smart Highways Market Segmentation Analysis

This report examines earnings growth globally, locally and nationally, similarly to the adjustments of modern business enterprise employers in each sub-phase. This segmentation gives a complete picture of the market over the forecast period 2022-2028. This phase delves into the global smart highways market segmentation through utilization of global regions and locations, following a breakdown of revenue, market share, and capacity to growth opportunities.

The detailed segments and sub-segments of the market are explained below:

By product technology:
-Intelligent transport management system
-Intelligent traffic management system
-Communication system
-Surveillance system
-Other product technologies

By Services:
-Consulting services
-Maintenance and operation services
-Managed Services

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COVID-19 Impact Analysis

The cause for this has been examined is to test the global and country effect of COVID-19 on the Smart Highway market. Assessment of the effects of COVID-19 is likely a useful and beneficial resource for market humans in applying pandemic preparedness techniques. The purpose of this test is to analyze the choice of components and provide results in the target market. This appearance depended on primary and secondary studies, as well as private databases and paid statistics, to be delivered in the planned period 2022-2028.

Smart Highway Market Competitive Outlook

This section discusses elements of each of the company’s major competitions, including their modern marketplace functionality. The Smart Highway market report includes monetary damages on leading individuals in the international marketplace, which includes employer operations review, monetary records, product description, and strategic desires. The studies for the report consist of splendid individuals in the market whose offers may suit the dreams of the client over the predicted span of 2022-2028.

Table of Contents – Main Key Points

Chapter 1. Executive Summary

Chapter 2. Definition and Scope of the Global Smart Highways Market

Chapter 3. Global Smart Highways Market Dynamics

Chapter 4. Global Smart Highways Market: Industry Analysis

Chapter 5. Global Smart Highways Market, By Product Technology

Chapter 6. Global Smart Highways Market, By Services

Chapter 7. Global Smart Highways Market, Regional Analysis

Chapter 8. Competitive Intelligence

Chapter 9. Research Process

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