Rapid growth in metropolitan area and technological advancement across the world is giving rise to heavy traffic congestions with an increased risk of accidents. Which arises the need of innovative projects such as Smart Roads. Roads which are smart enough to intimate the vehicle about the object ahead of it to reduce the risk of any uncertainties, roads which are capable enough to manage the traffic by providing better traffic management systems. Smart Roads is one such project, in which roads will be equipped with number of sensors, detectors, and devices to turn the roads into smart roads.
Increased global traffic mark, heavy traffic congestion, need for safety and growing technologies are some of the major drivers for global smart roads market. Furthermore, rising government initiatives to promote smart road infrastructure is another driving factor for the market. Whereas issues such as affordability of fund by the government, lack of technical knowledge works as few restraining factor for the market. The rise in the global traffic marks and need for a better traffic management system creating an opportunity for the smart roads market.
The "Global Smart Roads Market Analysis to 2028" is a specialized and in-depth study of the technology, media, and telecommunication industry with a special focus on the global market trend analysis. The smart roads market report aims to provide an overview of the smart roads market with detailed market segmentation by technology, display, services, deployment, and geography. The global smart roads market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading smart roads market players and offers key trends and opportunities in the market.
The global smart roads market is segmented based on technology, display, services, and deployment. Based on technology, the smart roads market is segmented into intelligent transportation systems, traffic management system, communication system, and monitoring system. Based on display, the smart roads market is segmented into variable message signs, digital signage, and others. Based on services, the smart roads market is segmented into consultancy, maintenance and operation, managed. Based on deployment, the smart roads market is segmented into cloud-based, on-premises.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global smart roads market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The smart roads market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the smart roads market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA, and South& Central America after evaluating political, economic, social and technological factors affecting the smart roads market in these regions.
The reports cover key developments in the smart roads market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart roads market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the smart roads market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart roads market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Cisco Systems, Inc
- Huawei Technologies Co Ltd
- Nokia Corporation
- Kapsch BusinessCom AG
- LACROIX Group
- Siemens AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.