Smart Highways refer to roads/highways, incorporated with different technologies to ensure an easily manageable and sustainable flow of traffic. Intensive alliance between developers and builders have resulted in the much talked about concept Smart Highway. Furthermore, sustainability, perception as well as safety are the key components of the smart highway market. The aforementioned components are manifested in the latest technologies use for creating smart highways. Emergence of smart highway market has offered a facelift to the transportation industry. Furthermore, the technology is serving demands such as safety, pollutionfree environment, and less travel time among others, thus gaining greater importance.
There are many drivers, restraints and opportunities defining the presence of smart highway market. Innovative technologies introduced to fill in the gap of disquiet caused to transport management enterprises, commuters and others are now driving the smart highway market. Some of these technologies are electronic toll collection system (ETC), lane driver warning system (LDW), and incident detection system amongst others. However, factors including inaccurate driver data and poorly developed infrastructures resulting in inappropriate traffic flow have hindered the market growth to a greater extent. Other than this, lack of appropriate technical knowledge and training about the technologies and their implementation, work as key restraining factors. Nonetheless, the business expansion in sectors such as travel and need for cutting edge transport infrastructure would create greater opportunities for the market. Further, increasing government investments in infrastructure, would also provide growth opportunities.
The market is segmented in terms of technology, deployment models, geography, displays, service and geography. In terms of technology, the market includes monitoring systems, traffic management system, communication system and others. On-premise as well as cloud are the two deployment models discussed in the report. The service segment includes consultancy services, maintenance services and others. Display segment consists of digital signage, variable message signs and other. Regions including North America, Europe, AsiaPacific, and LAMEA would observe major developments in the smart highway market.
Business strategies such as collaboration, joint ventures, and acquisition and mergers have contributed to the growth of the market in a big way. Continuous inflow and upgradations of solutions and technologies have also enabled the market players to further strengthen their market positions. Some of the notable market leaders in the domain include Xerox Corporation, LG CNS, Siemens AG, Indra Kapsch, International Business Machine, Cisco, Siemens AG, Huawei Technologies Co., Ltd. and others.
KEY BENEFITS FOR STAKEHOLDERS
SMART HIGHWAY MARKET SEGMENTS
Market By Technology
Market By Deployment Model
Market By Service
Market By Geography
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