The smart highway market is expected to grow from US$ 24,885.5 million in 2021 to US$ 81,335.6 million by 2028; it is estimated to grow at a CAGR of 18.4% from 2021 to 2028.
Various developing and developed economies across the world have initiated multiple programs in designing and implementing smart cities. For instance, China has over 300 smart city projects in the pipeline with prominent involvement by crucial industries and government offices. Similarly, India allocates trillions in its budget every year to facilitate the building of over 100 smart cities. According to the Chinese national smart cities working group, smart cities bring a new concept and model, which facilitate planning, construction, management, and smart services of cities, with the help of IoT, cloud computing, Big Data, space-geographical information integration, and other modern technologies. The use of advanced transportation technologies, thus, becomes a dominant precursor in the successful implementation of smart cities. The purpose of implementing transportation, digitally enabled with info-communication technologies, is to solve the current problems of traffic jams, accidents, pollution, fuel cost, fuel scarcity, and high insurance costs. Smart transportation infrastructure, along with smart highways, includes smart roads, smart streetlights, smart or autonomous vehicles, and smart traffic signs. The emergence of various transportation technologies has led to the introduction of vehicle-to-vehicle communications, vehicular ad hoc networks, electrified roads, harvesting of energy from roads, smart road intersection, self-weighing roads, intelligent transportation systems, cooperative emergency rescue, methods to capture driving behavior, smart-street light, and wireless digital traffic signs.
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Smart Highway Market: Strategic Insights
Market Size Value in US$ 24,885.5 million in 2021 Market Size Value by US$ 81,335.6 million by 2028 Growth rate CAGR of 18.4% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Smart Highway Market: Strategic Insights
| Market Size Value in | US$ 24,885.5 million in 2021 |
| Market Size Value by | US$ 81,335.6 million by 2028 |
| Growth rate | CAGR of 18.4% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Smart Highway Market
The onset of the COVID-19 crisis in 2020 led to a grinding halt in infrastructure and construction activities worldwide. All the major regions considered for this market analysis suffered a significant downturn in workloads during the first half of 2020. The lowering economic growth and delayed highway projects had negative impact on the smart highway market in 2020. However, in 2021, the pandemic highlighted the importance for intelligent mobility and roadways solutions, especially in Europe, the US, and China. The UNDA project on “Transport and Trade Connectivity in the Age of Pandemics: Contactless, Seamless and Collaborative UN Solutions” supports the plan of significant economies to adopt information and communication technologies (ICTs) and intelligent transport systems. Major global smart highway market players have been implementing intelligent transport systems and traffic management solutions in various countries to create a supporting ecosystem complementing the development of future-ready connected, contactless, and safer mobility. For instance, around the onset of the pandemic at the end of 2019, Siemens Mobility launched the new Plus+ traffic control solution, which were installed under COVID-secure conditions in cities across the UK.
Lucrative Regions for Smart Highway Providers
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Smart Highway Market Insights
Augmenting Demands for Sustainable Highways to Reduce Traffic Issues Boost Smart Highway Market Growth
A sustainable highway enables societal development and economic growth, and reduces negative impacts on the environment. According to the Federal Highway Administration (FHWA), sustainable highways are an integral part of sustainable development that should be assessed throughout their lifecycle, from design through construction, operations, and maintenance. In addition to addressing environmental and natural resource needs, a sustainable highway caters to the demand for accessibility of transportation services, and safe and comfortable walking, cycling, and transit routes. Highway authorities in the US are addressing sustainability through intelligent transportation systems (ITS), recycling, planning, and environmental relations, along with an adherence to the National Environmental Policy Act (NEPA) requirements. There is an increasing demand for making roads interactive, using light, energy, and information reflecting traffic conditions. In 2015, the Indian government launched the Green Highways (Plantation, Transplantation, and Beautification & Maintenance) Policy, intending to promote the greening of highway corridors with the community, farmers, private sector, NGOs, and government institutions. The project also incorporates a robust monitoring mechanism using satellite systems. The Green Highway Policy is an initiative to make the country pollution-free and curtail the number of road accidents in it. Advancements in the eco-friendly national highway corridors with the collaboration of the private sectors and government institutions are anticipated to pave the way towards sustainable development.
Component Based Market Insights
Traffic management teams, civil engineers, and highway maintenance crews face many challenges to maintaining traffic flow and improving safety. Therefore, they are using a coordinated array of hardware, software, and cloud solutions to address these issues. Vendors are providing software platforms with core functionalities—including traffic management, tunnel management, management of equipment, video surveillance, video incident detection, SCADA integration, reporting engine, and alarm management empowered with fully automated scenario management for fast and reliable system response to incidents. Growing demands for consultancy service, maintenance and operation service, and managed service is further anticipated to bolster the growth of the smart highway market.
Smart Highway Market, by Component – 2020 and 2028 (%)
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Note: The outer circle represents market size for 2028, and the inner circle represents market size for 2020.
Players operating in the smart highway market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In 2021, the City of Vienna and Kapsch TrafficCom collaboratively launched the Traffic Management 2.0 for ensuring climate-friendly mobility in the future. This initiative can help UK achieve its net zero target by 2050, and it will help Kapsch in expanding its geographic presence.
- In 2020, Nokia entered a strategic partnership with China Mobile/CMCC Guangxi to deliver a landslide monitoring and early warning systems for highways operations management company, BGIGC Group (Guangxi Beibu Gulf Investment Group Co. Ltd). This project uses the Nokia IMPACT IoT platform designed to offer a secure, simplified platform comprising device management, data collection and analysis, rule engine, alarm management, and statistical report and analytics capabilities.
The global Smart Highway Market has been segmented as follows:
Smart Highway Market – by Technology
- Smart Transport Management System
- Smart Traffic Management System
- Communication System
- Monitoring System
- Others
Smart Highway Market – by Component
- Hardware
- Software
Smart Highway Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- Cisco Systems, Inc
- Huawei Technologies Co., Ltd
- Kapsch TrafficCom AG
- Nokia Corporation
- Siemens AG
- Telegra
- Conduent, Inc.
- Toshiba Corporation
- Nippon Koei Co., Ltd.
- IBI Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, and Component
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Augmenting Demands for Sustainable Highways to Reduce Traffic Issues
Rising Integration of Traffic Control Centers and Route Guidance Systems
Various technologies, such as ad-hoc mesh Wi-Fi and Cellular Vehicle-to-Everything (C-V2X), keep the drivers informed of the changes in traffic lights and communicate with other vehicles to avoid collisions. Innovations in digital technologies are anticipated to provide lucrative growth opportunities for the smart highway market players during the forecast period. Governments across the globe are significantly investing in connected vehicles technologies to boost the smart highway market growth.
Based on component, the global smart highway market is segmented into software and hardware. Traffic management teams, civil engineers and highway maintenance crews face many challenges to maintain traffic flow and improve safety. The hardware segment led the smart highway market with a largest market share.
Asia Pacific (APAC) is the fastest-growing region in the global smart highway market. The high rate of smart highway R&D in several emerging Asian economies is attributed to the rising interest of government authorities, public and private organizations, and other vital stakeholders. For instance, in February 2021, Indian PM Narendra Modi inaugurated the Integrated Command and Control Centre and Smart Roads Project in Thiruvananthapuram with a total investment cost of US$58.5 million.
Key companies operating in the smart highway industry include Cisco Systems, Inc; Huawei Technologies Co., Ltd; Kapsch TrafficCom AG; Nokia Corporation; Siemens AG; Telegra; Conduent, Inc.; Toshiba Corporation; Nippon Koei Co., Ltd.; and IBI Group Several other players are also operating in the global market, contributing significant revenue shares every year.
North America dominated The smart highway market in 2020 with a share of more than 30%; it would continue to dominate the market during the forecast period of 2021- 2028.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Smart Highway Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Smart highway Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Augmenting Demands for Sustainable Highways to Reduce Traffic Issues
5.1.2 Rising Integration of Traffic Control Centers and Route Guidance Systems
5.2 Key Market Restraints
5.2.1 Lack of Supporting Infrastructure, Unawareness, and Unwillingness to Adopt New Ways
5.3 Key Market Opportunities
5.3.1 Digital Reality and Mobility Innovation
5.4 Future Trends
5.4.1 Advent of Smart City Concepts
5.5 Impact Analysis of Drivers And Restraints
6. Smart Highway – Global Market Analysis
6.1 Global Smart highway Market Overview
6.2 Global Smart Highway Market Revenue Forecast and Analysis
6.3 Market Positioning – Five Key Players
7. Smart highway Market Analysis – By Technology
7.1 Overview
7.2 Smart highway Market, By Technology (2020 and 2028)
7.3 Smart Transport Management System
7.3.1 Overview
7.3.2 Smart transport management system: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.4 Smart Traffic Management System
7.4.1 Overview
7.4.2 Smart Traffic Management System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.5 Communication System
7.5.1 Overview
7.5.2 Communication System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.6 Monitoring System
7.6.1 Overview
7.6.2 Monitoring System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
8. Smart highway Market Analysis – By Component
8.1 Overview
8.2 Smart highway Market, By Component (2020 and 2028)
8.3 Hardware
8.3.1 Overview
8.3.2 Hardware: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
8.4 Software
8.4.1 Overview
8.4.2 Software: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
9. Smart highway Market – Geographic Analysis
9.1 Overview
9.2 North America: Smart highway Market
9.2.1 North America: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.2.2 North America: Smart highway Market, By Technology
9.2.3 North America: Smart highway Market, By Component
9.2.4 North America: Smart highway Market, By Country
9.2.4.1 United States: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.1.1 United States: Smart highway Market, By Technology
9.2.4.1.2 United States: Smart highway Market, By Component
9.2.4.2 Canada: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Smart highway Market, By Technology
9.2.4.2.2 Canada: Smart highway Market, By Component
9.2.4.3 Mexico: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Smart highway Market, By Technology
9.2.4.3.2 Mexico: Smart highway Market, By Component
9.3 Europe: Smart highway Market
9.3.1 Europe: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.3.2 Europe: Smart highway Market, By Technology
9.3.3 Europe: Smart highway Market, By Component
9.3.4 Europe: Smart highway Market, By Country
9.3.4.1 Germany: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.1.1 Germany: Smart highway Market, By Technology
9.3.4.1.2 Germany: Smart highway Market, By Component
9.3.4.2 France: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.2.1 France: Smart highway Market, By Technology
9.3.4.2.2 France: Smart highway Market, By Component
9.3.4.3 Italy: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.3.1 Italy: Smart highway Market, By Technology
9.3.4.3.2 Italy: Smart highway Market, By Component
9.3.4.4 UK: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.4.1 UK: Smart highway Market, By Technology
9.3.4.4.2 UK: Smart highway Market, By Component
9.3.4.5 Russia: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.5.1 Russia: Smart highway Market, By Technology
9.3.4.5.2 Russia: Smart highway Market, By Component
9.3.4.6 Rest of Europe: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Smart highway Market, By Technology
9.3.4.6.2 Rest of Europe: Smart highway Market, By Component
9.4 Asia-Pacific: Smart highway Market
9.4.1 Asia-Pacific: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.4.2 Asia-Pacific: Smart highway Market, By Technology
9.4.3 Asia-Pacific: Smart highway Market, By Component
9.4.4 Asia-Pacific: Smart highway Market, By Country
9.4.4.1 Australia: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.1.1 Australia: Smart highway Market, By Technology
9.4.4.1.2 Australia: Smart highway Market, By Component
9.4.4.2 China: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.2.1 China: Smart highway Market, By Technology
9.4.4.2.2 China: Smart highway Market, By Component
9.4.4.3 India: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.3.1 India: Smart highway Market, By Technology
9.4.4.3.2 India: Smart highway Market, By Component
9.4.4.4 Japan: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.4.1 Japan: Smart highway Market, By Technology
9.4.4.4.2 Japan: Smart highway Market, By Component
9.4.4.5 South Korea: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.5.1 South Korea: Smart highway Market, By Technology
9.4.4.5.2 South Korea: Smart highway Market, By Component
9.4.4.6 Rest of Asia-Pacific: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.6.1 Rest of Asia-Pacific: Smart highway Market, By Technology
9.4.4.6.2 Rest of Asia-Pacific: Smart highway Market, By Component
9.5 Middle East and Africa: Smart highway Market
9.5.1 Middle East and Africa: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.5.2 Middle East and Africa: Smart highway Market, By Technology
9.5.3 Middle East and Africa: Smart highway Market, By Component
9.5.4 Middle East and Africa: Smart highway Market, By Country
9.5.4.1 South Africa: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.1.1 South Africa: Smart highway Market, By Technology
9.5.4.1.2 South Africa: Smart highway Market, By Component
9.5.4.2 Saudi Arabia: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.2.1 Saudi Arabia: Smart highway Market, By Technology
9.5.4.2.2 Saudi Arabia: Smart highway Market, By Component
9.5.4.3 U.A.E: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.3.1 U.A.E: Smart highway Market, By Technology
9.5.4.3.2 U.A.E: Smart highway Market, By Component
9.5.4.4 Rest of Middle East and Africa: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.4.1 Rest of Middle East and Africa: Smart highway Market, By Technology
9.5.4.4.2 Rest of Middle East and Africa: Smart highway Market, By Component
9.6 South America: Smart highway Market
9.6.1 South America: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.6.2 South America: Smart highway Market, By Technology
9.6.3 South America: Smart highway Market, By Component
9.6.4 South America: Smart highway Market, By Country
9.6.4.1 Brazil: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Smart highway Market, By Technology
9.6.4.1.2 Brazil: Smart highway Market, By Component
9.6.4.2 Argentina: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Smart highway Market, By Technology
9.6.4.2.2 Argentina: Smart highway Market, By Component
9.6.4.3 Rest of South America: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of South America: Smart highway Market, By Technology
9.6.4.3.2 Rest of South America: Smart highway Market, By Component
10. Smart highway Market - Covid-19 Impact Analysis
10.1 Overview
10.2 North America: Impact Assessment of Covid-19 Pandemic
10.3 Europe: Impact Assessment of Covid-19 Pandemic
10.4 Asia Pacific: Impact Assessment of Covid-19 Pandemic
10.5 Middle East & Africa: Impact Assessment of Covid-19 Pandemic
10.6 South America Impact Assessment of Covid-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Development
12. Company Profiles
12.1 Cisco Systems, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Huawei Technologies Co., Ltd.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Kapsch TrafficCom AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Nokia Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Siemens AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Telegra
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Conduent, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Toshiba Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Nippon Koei Co., Ltd.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 IBI Group
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Global Smart Highway Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Smart highway Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 4. North America: Smart highway Market Revenue Share, By Country
Table 5. United States Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 6. United States Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 11. Europe Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 12. Europe Smart highway Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 13. Europe Smart highway Market, By Country – Revenue and Forecast to 2027 (US$ Million)
Table 14. Germany Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 15. Germany Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 16. France Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 17. France Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 18. Italy Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 19. Italy Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 20. UK Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 21. UK Smart highway Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 22. Russia Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 23. Russia Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 24. Rest of Europe Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 25. Rest of Europe Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 26. Asia-Pacific Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 27. Asia-Pacific Smart highway Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 28. Asia-Pacific Smart highway Market, By Country – Revenue and Forecast to 2027 (US$ Million)
Table 29. Australia Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 30. Australia Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 31. China Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 32. China Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 33. India Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 34. India Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 35. Japan Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 36. Japan Smart highway Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 37. South Korea Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 38. South Korea Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 39. Rest of Asia-Pacific Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 40. Rest of Asia-Pacific Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 41. Middle East and Africa Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 42. Middle East and Africa Smart highway Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 43. Middle East and Africa Smart highway Market, By Country – Revenue and Forecast to 2027 (US$ Million)
Table 44. South Africa Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 45. South Africa Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 46. Saudi Arabia Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 47. Saudi Arabia Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 48. U.A.E Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 49. U.A.E Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 50. Rest of Middle East and Africa Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 51. Rest of Middle East and Africa Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 52. South America Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 53. South America Smart highway Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 54. SAM Smart highway Market, By Country – Revenue and Forecast to 2028 (USD Million)
Table 55. Brazil Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 56. Brazil Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 57. Argentina Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 58. Argentina Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 59. Rest of South America Smart highway Market, By Technology– Revenue and Forecast to 2027 (US$ Million)
Table 60. Rest of South America Smart highway Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 61. List of Abbreviation
LIST OF FIGURES
Figure 1. Smart Highway Market Segmentation
Figure 2. Smart Highway Market Segmentation – By Geography
Figure 3. Global Smart Highway Market Overview
Figure 4. Smart Highway Market, By Technology
Figure 5. Smart Highway Market, By Component
Figure 6. Smart Highway Market, By Geography
Figure 7. North America PEST Analysis
Figure 8. Europe PEST Analysis
Figure 9. APAC – PEST Analysis
Figure 10. MEA PEST Analysis
Figure 11. SAM PEST Analysis
Figure 12. Smart highway Market- Ecosystem Analysis
Figure 13. Smart Highway Market Impact Analysis of Drivers and Restraints
Figure 14. Geographic Overview of Smart highway Market
Figure 15. Global Smart Highway Market Revenue Forecast and Analysis (US$ Million)
Figure 16. Smart highway Market Revenue Share, by Product Type (2020 and 2028)
Figure 17. Smart transport management system: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 18. Smart Traffic Management System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 19. Communication System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 20. Monitoring System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 21. Others: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 22. Smart highway Market Revenue Share, by Technology (2020 and 2028)
Figure 23. Hardware: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 24. Software: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 25. Global Smart highway Market Revenue Share, By Region (2020 and 2028)
Figure 26. North America: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. North America: Smart highway Market Revenue Share, By Technology (2020 and 2028)
Figure 28. North America: Smart highway Market Revenue Share, By Component (2020 and 2028)
Figure 29. North America: Smart highway Market Revenue Share, By Country (2020 and 2028)
Figure 30. United States: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Canada: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Mexico: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Europe: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Europe: Smart highway Market Revenue Share, By Technology (2020 and 2028)
Figure 35. Europe: Smart highway Market Revenue Share, By Component (2020 and 2028)
Figure 36. Europe: Smart highway Market Revenue Share, By Country (2020 and 2028)
Figure 37. Germany: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. France: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Italy: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. UK: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. Russia: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 42. Rest of Europe: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 43. Asia-Pacific: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 44. Asia-Pacific: Smart highway Market Revenue Share, By Technology (2020 and 2028)
Figure 45. Asia-Pacific: Smart highway Market Revenue Share, By Component (2020 and 2028)
Figure 46. Asia-Pacific: Smart highway Market Revenue Share, By Country (2020 and 2028)
Figure 47. Australia: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 48. China: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. India: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 50. Japan: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 51. South Korea: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 52. Rest of Asia-Pacific: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 53. Middle East and Africa: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 54. Middle East and Africa: Smart highway Market Revenue Share, By Technology (2020 and 2028)
Figure 55. Middle East and Africa: Smart highway Market Revenue Share, By Component (2020 and 2028)
Figure 56. Middle East and Africa: Smart highway Market Revenue Share, By Country (2020 and 2028)
Figure 57. South Africa: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 58. Saudi Arabia: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 59. U.A.E: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 60. Rest of Middle East and Africa: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 61. South America: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 62. South America: Smart highway Market Revenue Share, By Technology (2020 and 2028)
Figure 63. South America: Smart highway Market Revenue Share, By Component (2020 and 2028)
Figure 64. South America: Smart highway Market Revenue Share, By Country (2020 and 2028)
Figure 65. Brazil: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 66. Argentina: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 67. Rest of South America: Smart Highway Market – Revenue and Forecast to 2027 (US$ Million)
Figure 68. Impact of Covid-19 Pandemic in North American Country Markets
Figure 69. Impact of Covid-19 Pandemic in Europe Country Markets
Figure 70. Impact of Covid-19 Pandemic in Asia Pacific Country Markets
Figure 71. Impact of Covid-19 Pandemic In Middle East & Africa Country Markets
Figure 72. Impact of Covid-19 Pandemic in South America Country Markets
The List of companies - Smart Highway Market
- Cisco
- Conduent, Inc.
- Huawei Technologies Co., Ltd.
- IBI Group
- Kapsch TrafficCom AG
- Nippon Koei Co., Ltd.
- Nokia
- Siemens
- Telegra
- Toshiba Infrastructure Systems & Solutions Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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