Smart Highway Market, By Component, By Deployment Mode, By Technology, By Geography

Description

The smart highway market is estimated to be valued at US$ 58.43 Bn in 2024 and is expected to reach US$ 152.03 Bn by 2031, growing at a compound annual growth rate (CAGR) of 14.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 58.43 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	14.60%	2031 Value Projection:	US$ 152.03 Bn

Figure. Smart Highway Market Share (%), By Region, 2024

Smart highways are next generation highways that leverage advanced technologies like Internet of Things (IoT), Artificial Intelligence (AI), and connected vehicles to enhance road safety, traffic management, and infrastructure optimization. By integrating sensors, cameras, and wireless communication networks into roadways and vehicles, smart highways are able to actively monitor traffic flows, detect accidents, or breakdowns and optimize traffic signal timings in real-time to reduce congestion. For travelers, smart highways promise safer and more efficient journeys through features like adaptive cruise control, collision alerts, and automated lane changing assistance. For transportation agencies, they enable remote monitoring of road conditions, predictive maintenance of assets and data-driven planning of highway capacity expansions. As countries focus on upgrading aging infrastructure and reducing emissions, smart highways are emerging as a promising solution to modernize surface transportation networks globally.

Market Dynamics:

The growth of the smart highway market is driven by rising investments in developing intelligent transportation systems by governments worldwide. Rapid urbanization has led to increased vehicle ownership outpacing the expansion of road networks, boosting investments in smart technologies for traffic management and improved throughput. However, high initial costs of deploying smart infrastructure and lack of standardized communication protocols poses challenges to the market. Nevertheless, growing focus on reducing road accidents and promoting autonomous and connected vehicles present lucrative opportunities. Coordinated efforts by automakers, technology companies, and highway authorities to develop interconnected ecosystems will further propel the market growth in the coming years.

Key features of the study:

This report provides an in-depth analysis of the global smart highway market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global smart highway market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Schneider Electric SE, Siemens AG, SAP SE, Indra Sistemas S.A., Panasonic Corporation, Honeywell International Inc., Masstrans Technologiies Pvt. Ltd., Kapsch AG, Infineon Technologies AG, ALE International, ALE USA Inc, Kapsch TrafficCom AG, Huawei Technologies Co., Ltd., Cisco Systems Inc., IBM Corporation, General Electric Company, and ABB Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global smart highway market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart highway market.

Detailed Segmentation-

By Component
- Hardware
- Software
- Service
By Deployment Mode
- On-Premise
- Cloud
By Technology
- Intelligent Transportation Management System
- Intelligent Management System
- Communication System
- Monitoring System
- Others
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players
- Schneider Electric SE
- Siemens AG
- SAP SE
- Indra Sistemas S.A.
- Panasonic Corporation
- Honeywell International Inc.
- Masstrans Technologiies Pvt. Ltd.
- Kapsch AG
- Infineon Technologies AG
- ALE International, ALE USA Inc
- Kapsch TrafficCom AG
- Huawei Technologies Co., Ltd.
- Cisco Systems Inc.
- IBM Corporation
- General Electric Company
- ABB Ltd.

Product Code: CMI5340

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Component
- Market Snippet, By Deployment Mode
- Market Snippet, By Technology
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of the COVID-19 Pandemic

4. Global Smart Highway Market, By Component, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Hardware
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Software
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Service
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

5. Global Smart Highway Market, By Deployment Mode, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
On-Premise
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Cloud
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

6. Global Smart Highway Market, By Technology, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Intelligent Transportation Management System
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Intelligent Management System
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Communication System
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Monitoring System
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

7. Global Smart Highway Market, By Region, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Deployment Mode, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - U.S.
  - Canada
  - Europe
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Deployment Mode, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - U.K.
  - Germany
  - Italy
  - France
  - Russia
  - Rest of Europe
  - Asia Pacific
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Deployment Mode, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - China
  - India
  - ASEAN
  - Australia
  - South Korea
  - Japan
  - Rest of Asia Pacific
  - Latin America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Deployment Mode, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Deployment Mode, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - GCC Countries
  - South Africa
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Schneider Electric SE
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Siemens AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- SAP SE
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Indra Sistemas S.A.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Panasonic Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Honeywell International Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Masstrans Technologiies Pvt. Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kapsch AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Infineon Technologies AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ALE International, ALE USA Inc
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kapsch TrafficCom AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Huawei Technologies Co., Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cisco Systems Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- IBM Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- General Electric Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ABB Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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