The global smart highway market is anticipated to grow at a CAGR of 19.1% during the forecast period (2024-2031). Solar power generation, improving operations of autonomous vehicles, lighting, traffic monitoring, and road safety improvement are some of the key factors creating demand for incorporation of advanced technologies in transportation. Roads That Honk system, elect Reon electric charging lanes, self-healing concrete roads, Hikob instant: road weather and traffic management, and the ray are some of the key smart road technologies whose adoption can lead to development of smart highway market across the globe.
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The Roads that Honk system uses Smart Life poles just before sharp turns and hairpin bend. These poles wirelessly communicate with each other and exchange data on incoming traffic. They gauge the speed of the vehicles and alert the drivers of approaching traffic by sounding a horn. It is a solar powered system especially useful in hilly areas. It is a simple and effective concept of alerting the drivers with sounds and honks that they are familiar with. Additionally, this system is an innovative application of IoT to road safety to save lives. The adoption of such kind of advanced technologies for traffic management improvement is flourishing the growth of the global smart highway market.
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Market Coverage
- Segment Covered-
o By Technology
o By Deployment Model
o By Service
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- ABB Ltd., 3M Co., AT & T Inc., Cisco Systems Inc., IBM Corp.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Smart Highway Market Report Segment
By Technology
- Intelligent Transportation Management System
- Intelligent Traffic Management System
- Communication System
- Monitoring System
By Deployment Model
- On-Premise
- Cloud
By Service
- Consultancy Services
- Maintenance & Operational Services
- Managed Services
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