Market Overview 2022-2027:
The global smart highway market size reached US$ 34.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 93.3 Billion by 2027, exhibiting a growth rate (CAGR) of 18.16% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Smart highways refer to the infrastructural roads integrated with advanced technologies for improved management and sustainable flow of traffic. The highways are incorporated with artificial intelligence (AI), big data and the Internet of Things (IoT)-enabled speed and acoustic sensors, solar panels, closed-circuit television (CCTV) cameras and digital signages. These technologies are embedded to improve visibility, generate energy, communicate with autonomous and connected vehicles and monitor road conditions. They also collect and analyze traffic and vehicle data in real-time to reduce congestion on the streets and optimize e-tolling, payment gateways and parking experience. Smart highways aid in enhancing traffic and passenger safety, reducing travel time and minimizing pollution levels in the environment.
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Smart Highway Market Trends:
The increasing need for reliable and sustainable highways and transportation systems across the globe is among the key factors driving the growth of the market. Moreover, the widespread adoption of smart transportation management systems (STMS) is providing a thrust to the market growth. STMS uses digital sensors to record data regarding landslides, weather conditions and traffic congestions and can display forecasts and alerts on light-emitting diode (LED) screens across the highways. Governments of both developed and emerging economies are also taking extensive initiatives to improve road safety and prevent accidents and mishaps. Additionally, various technological advancements, such as the integration of lane departure warning, automatic number plate recognition and electronic vehicle charging systems, on highways, are acting as other growth-inducing factors. These innovations aid in reducing the overall travel time and enhance the convenience for travelers. Other factors, including the increasing development of smart cities, along with extensive improvements in the existing infrastructure, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart highway market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment model and technology.
Breakup by Component:
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- Hardware
- Software
- Service
Breakup by Deployment Model:
Breakup by Technology:
- Intelligent Transportation Management System
- Lane Departure Warning System (LDW)
- Automatic Number Plate Recognition (ANPR)
- Incident Detection System
- Radio Frequency Identification (RFID)
- Intelligent Traffic Management System
- Electronic Toll Collection System
- Global Navigation Satellite System (GNSS)/Global Positioning System (GPS)
- Real-Time Traffic Management
- Communication System
- Radio Network
- Emergency Network
- Data Network
- Monitoring System
- Traffic Measurement
- Weather Management
- Video Surveillance
- Others
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Cisco Systems Inc., Honeywell International Inc., Huawei Technologies Co Ltd., Indra Sistemas S.A., Infineon Technologies AG, International Business Machines Corporation, Kapsch Aktiengesellschaft, LG CNS (LG Corporation), Nokia Oyj, Schneider Electric SE, Siemens AG and Xerox Holdings Corporation.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| Segment Coverage |
Component, Deployment Model, Technology, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
Cisco Systems Inc., Honeywell International Inc., Huawei Technologies Co Ltd., Indra Sistemas S.A., Infineon Technologies AG, International Business Machines Corporation, Kapsch Aktiengesellschaft, LG CNS (LG Corporation), Nokia Oyj, Schneider Electric SE, Siemens AG and Xerox Holdings Corporation |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global smart highway market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global smart highway market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment model?
- What is the breakup of the market based on the technology?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global smart highway market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Highway Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Service
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Deployment Model
7.1 On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Technology
8.1 Intelligent Transportation Management System
8.1.1 Market Trends
8.1.2 Key Segments
8.1.2.1 Lane Departure Warning System (LDW)
8.1.2.2 Automatic Number Plate Recognition (ANPR)
8.1.2.3 Incident Detection System
8.1.2.4 Radio Frequency Identification (RFID)
8.1.3 Market Forecast
8.2 Intelligent Traffic Management System
8.2.1 Market Trends
8.2.2 Key Segments
8.2.2.1 Electronic Toll Collection System
8.2.2.2 Global Navigation Satellite System (GNSS)/Global Positioning System (GPS)
8.2.2.3 Real-Time Traffic Management
8.2.3 Market Forecast
8.3 Communication System
8.3.1 Market Trends
8.3.2 Key Segments
8.3.2.1 Radio Network
8.3.2.2 Emergency Network
8.3.2.3 Data Network
8.3.3 Market Forecast
8.4 Monitoring System
8.4.1 Market Trends
8.4.2 Key Segments
8.4.2.1 Traffic Measurement
8.4.2.2 Weather Management
8.4.2.3 Video Surveillance
8.4.3 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Cisco Systems Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Honeywell International Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Huawei Technologies Co Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Indra Sistemas S.A.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Infineon Technologies AG
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 International Business Machines Corporation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Kapsch Aktiengesellschaft
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 LG CNS (LG Corporation)
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Nokia Oyj
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Schneider Electric SE
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Siemens AG
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Xerox Holdings Corporation
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
List of Figures
Figure 1: Global: Smart Highway Market: Major Drivers and Challenges
Figure 2: Global: Smart Highway Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smart Highway Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smart Highway Market: Breakup by Component (in %), 2021
Figure 5: Global: Smart Highway Market: Breakup by Deployment Model (in %), 2021
Figure 6: Global: Smart Highway Market: Breakup by Technology (in %), 2021
Figure 7: Global: Smart Highway Market: Breakup by Region (in %), 2021
Figure 8: Global: Smart Highway (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Smart Highway (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Smart Highway (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Smart Highway (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Smart Highway (Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Smart Highway (Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Smart Highway (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Smart Highway (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Smart Highway (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Smart Highway (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Smart Highway (Intelligent Transportation Management System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Smart Highway (Intelligent Transportation Management System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Smart Highway (Intelligent Traffic Management System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Smart Highway (Intelligent Traffic Management System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Smart Highway (Communication System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Smart Highway (Communication System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Smart Highway (Monitoring System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Smart Highway (Monitoring System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Smart Highway (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Smart Highway (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: North America: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: North America: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: United States: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: United States: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Canada: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Canada: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Asia-Pacific: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Asia-Pacific: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: China: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: China: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Japan: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Japan: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: India: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: India: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: South Korea: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: South Korea: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Australia: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Australia: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Indonesia: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Indonesia: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Others: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Others: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Europe: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Europe: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Germany: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Germany: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: France: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: France: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: United Kingdom: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: United Kingdom: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Italy: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Italy: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Spain: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Spain: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Russia: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Russia: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Others: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Others: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Latin America: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Latin America: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Brazil: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Brazil: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Mexico: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Mexico: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Middle East and Africa: Smart Highway Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Middle East and Africa: Smart Highway Market: Breakup by Country (in %), 2021
Figure 76: Middle East and Africa: Smart Highway Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Global: Smart Highway Industry: SWOT Analysis
Figure 78: Global: Smart Highway Industry: Value Chain Analysis
Figure 79: Global: Smart Highway Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Smart Highway Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smart Highway Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Smart Highway Market Forecast: Breakup by Deployment Model (in Million US$), 2022-2027
Table 4: Global: Smart Highway Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 5: Global: Smart Highway Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Smart Highway Market: Competitive Structure
Table 7: Global: Smart Highway Market: Key Players