The latest revolution in the transport industry happens to be the smart highways. Highways are one of the most important elements connecting the trade among inter cities, states and countries. As the demand for travel is increasing these days, there is a need for safe, reliable, pollution free and less time consuming travel experience. Companies are coming up with new and innovative ideas to implement and renovate highway networks and make the most of available infrastructure.
Due to poor highway communication network, the problems arising mainly are due to the accuracy of information availability. To overcome this problem, technical advancements will be required for proper progress of Smart Highways Market and smart cities projects. The government is also supporting such projects through investments in developing new technologies and products too.
According to Market Research Future Analysis, Smart Highways Market has been valued at approx. USD 44 Billion by the end of forecast period with 16% of CAGR during forecast period 2017 to 2023.
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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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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.
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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• Technology investors
• Integrated device manufacturers (IDMs)
• Original manufacturers (OEMs)
• Smart grid integrators
• Research/Consultancy firms
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