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In a recently published report, Global Smart Highway market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Highway Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Smart Highway refers to the various proposals to incorporate new technologies into roads for better user experience, generating solar energy, lighting and improving operation of autonomous cars. It's a one stop solution to the issue of congested, unreliable, time consuming and polluted roads. The need for reliable, safe and efficient travel and movement is playing a major role in growth of the Global Smart Highway Market. The transport and traffic technology vendor companies are witnessing huge technological shifts and highways are the most sought segment in the same. The Smart Highway Market is expected to reach US$40.607 Billion by the end of the forecasted period of five years exhibiting a CAGR of 19.4%.
End-user/Technology
There is a huge demand for intelligent traffic management system owing to the increasing rates of fatal accidents and congestions on the highways. Hence, the Global Market of smart highway is going to see a high growth and research.
The smart systems have integrated digital sensors which record and analyze data in a case of bad weather, traffic congestion or landslides. It displays alerts and forecasts across LED screens on the highway.
Market Dynamics
Need of better and economical streets and roadways is a key component driving the development of the worldwide smart highway concept. Interest for more secure and safely monitored streets is another prime factor boosting the development of the same. Lessening in rush hour gridlock clog, government activities in arrangement of keen streets/expressways, dramatic technological changes and expanding interest of business travel, relaxation travel and work needs are some other essential viewpoints fuelling the development of the general global smart highway market.
Market Segmentation
The market for Global Smart Highway can be segmented based on four aspects: technology, display, deployment and by service. Based on the technology used, Smart Highway can be segmented into four types: Smart Transport Management System, Smart Traffic Management, Smart Communication System and Smart Monitoring System. Based on the display, it can be segmented into two types: Digital Signage and Variable Signage. Based on the deployment, market can be segmented into two segments, on premise and on cloud. Finally, based on the service, the market can be segmented into three segments, Consultancy Service, Operation and Management Service and Managed Service.
Regional/Geographic Analysis
The major regions of Global Smart Highway Market are North and Latin America, Europe, Asia Pacific, Japan, Middle East and Africa.
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Opportunities
The major opportunities in the Global Smart Highway Market are raising laws and funds for this project, developing and incorporating advanced technologies and infrastructure expansion. Smart highways can also incorporate photovoltaic cells which will help use solar energy for electronic toll booths.
Key Players
The key players in the Global Smart Highway Market are Alcatel Lucent, LG CNS, Kapsch AG, Siemens AG, Indra infrastructures, Cisco, Schneider Electric, IBm, TrafficCom, Huawei, Continental Engineering, Heijmans, Nippon Koei, Transstroy, VINCI Construction and Xerox Corporation.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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Leonard Thomas
Leonard Thomas is an energetic and versatile freelance writer for 5 years, he pen down any type of articles and web content. he is a Cambridge University Business English Certificate (Europe Level) holder . he is analytical, enthusiastic and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses .
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