Asia-Pacific smart highway market is anticipated to grow at a CAGR of 20.4% during the forecast period (2021-2027). The rapid development of smart highways across the country owing to the growing interest of public and private authorities is a key factor driving the growth of the smart highway market across the region. In February 2021, Indian PM Narendra Modi has laid the foundation stone of the Integrated Command and Control Centre, and Smart Roads Project in Thiruvananthapuram. With investment cost of $58.5 million the smart road project, envisages converting 37 km of existing roads in Thiruvananthapuram to world-class smart roads by bringing all overhead utilities underneath and undertaking road and junction improvements.
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Further in May 2018, PM Narendra Modi has inaugurated India’s first smart and green highway, the 135 km long Kundli-Ghaziabad-Palwal (KGP) Expressway (Eastern Peripheral Expressway). The Eastern Peripheral Expressway is a green highway that is being lit by solar power and at every 500 metres, as there are eight solar power plants on this Expressway, with a capacity of 4000 KW (4 megawatt) for lighting of the underpasses and running solar pumps for watering plants and also having arrangement for rainwater harvesting on both sides at every 500 meters and there is drip irrigation for plants all along the expressway. Such type of transportation development across the region is paving way for the growth of smart highway market across the region.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Segment Covered-
· By Technology
· By Deployment Model
· By Service
· Competitive Landscape- ABB Ltd., 3M Co., AT & T Inc., Cisco Systems Inc., IBM Corp.
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Asia-Pacific 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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
