Smart Highways Market 2017 to 2023 – Market Share, Growth, Industry Segments, Competitor Landscape, Key Players, Trends and Forecasts

Market Highlights:
The global smart highways market is showing immense growth; mainly due to the growing need for congestion free, reliable and improved travel experience among the end users. Smart highways basically refer to incorporation of different technologies into the roads for generating solar energy, for improving the operation of autonomous cars or for lighting and monitoring the condition of the roads. Increasing need for better and sustainable roads and highways is one major factor responsible for driving the growth of smart highways market.
According to a recent study report published by Market Research Future, The global market of smart highways is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Smart Highways Market are gaining popularity with growing need for reliable, safe and congestion free is driving the growth of smart highways market. Technological advancements and economic growth is influencing the industry dynamics. Also, increasing demand for smart highways from medium and small enterprises is one major factor driving the market growth. Increasing adoption of intelligent transport system (ITS) and developing infrastructure are major factors expected to boost the growth of smart highways market.
On the other hand, lack of accurate driver information and inappropriate traffic flow due to poor highway communication infrastructure are major factors hindering the growth of smart highways market. Moreover, lack of technical knowledge among drivers and lack of training about the smart highway rules, regulations and technologies are other factors which may hamper the market growth.
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Major Key Players:
• LG CNS Corporation (South Korea)
• Alcatel-Lucent S.A. (France)
• Siemens AG (Germany)
• Kapsch AG (Austria)
• Cisco Systems (U.S.)
• Indra Sistemas, S.A. (Spain)
• IBM Corporation (U.S.)
• Schneider Electric SE (France)
• Huawei Technologies Co. Ltd. (China)
• rafficCom (Austria)
• Xerox Corporation (U.S.)

Smart Highways Market Segmentation:
The smart highways market can be classified into 5 key segments for the convenience of the report and enhanced understanding;
Segmentation by Technology: Comprises of intelligent transportation management system, intelligent traffic management system, communication system and monitoring system
Segmentation by Display: Comprises of variable message signs, digital signage and others
Segmentation by Deployment: Comprises of cloud and on premise
Segmentation by Service: Comprises of managed service, maintenance and operation service and consultancy service
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.

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Regional Analysis:
The regional analysis of smart highways market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World.

It has been observed that U.S. region would account for larger share in smart highways market. The region has strong connectivity and therefore can provide more accurate information which helps in managing the traffic issues. The infrastructure of the U.S. region is another contributing factor that accounts for its higher market share.

The study reveals that Asia-Pacific region is the fastest growing market which is expected to exhibit a significant growth in smart highways market in the forecast period. In Asia-Pacific countries like China, Japan and Korea will spur future growth in the market.

The transportation companies are providing intelligent highway solution and services to enable smart city projects. The government is also supporting the highway technology vendors and supplier companies through investments to support them in developing new technologies and products.

Intended Audience:
• Technology investors
• Integrated device manufacturers (IDMs)
• Original manufacturers (OEMs)
• Smart grid integrators
• Research/Consultancy firms
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Industry News:
December 2017 – LG has developed an LTE-based autonomous driving technology as part of its ongoing effort to make a presence in the next-generation vehicle market. The company wants to enable vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I) and vehicle-to-person (V2P) communications at high speeds using long-term evolution (LTE) networks.
December 2017 – Siemens has unveiled a new range of passively safe traffic signal poles which they say, offers customers longer life passively safe poles in a wide variety of forms, finish and lengths from 2m to 6m. The new poles are CE marked with a unique specification label confirming key features as required by BS EN 12899 including construction material, corrosion resistance and strength characteristics.
December 2017 – Siemens has been awarded new ITS contract in Northern Ireland. A new long-term contract to maintain traffic management equipment throughout Northern Ireland for a minimum of four years has been awarded to Siemens by the Department for Infrastructure (DfI), NI. The principal objectives of the contract are to maintain a high level of equipment availability and to respond and rectify any faults which may arise on the equipment. Siemens will also carry out routine maintenance inspections and lamp changes at the appropriate intervals to check they adhere to current standards.

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