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Smart highway construction market Application, New-Innovations in Virtual World & Global industry Analysis 2030
PORTLAND, OR, UNITED STATES, May 16, 2023 /einpresswire.com / -- Smart highway construction refers to the use of advanced technologies and innovative approaches in the planning, design, construction, and maintenance of highways to improve safety, efficiency, and sustainability. These technologies aim to enhance the overall performance of the transportation infrastructure and provide a better experience for road users.
According to AMR, global smart highway construction market size was valued at $20,172.0 million in 2020, and is projected to reach $1,04,777.0 million by 2030, registering a CAGR of 17.3% from 2021 to 2030.
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Smart highway construction is an emerging field that has the potential to revolutionize the way we design, build, and operate highway infrastructure. By incorporating advanced technologies and sustainable materials, smart highways can help reduce congestion, improve safety, and promote more efficient and sustainable transportation.
Moreover, rise in incentives for building smart cities propel the smart highway construction market growth. For instance, in 2019, China announced 500 smart cities pilot projects, which will be funded by the government in the region. Similarly, UAE's goal to achieve the objective of the Smart Dubai Plan 2021 will fuels the adoption of smart highway construction in the Middle East region. Further, increase in commercial construction activities has led to surge in demand, which is anticipated to boost demand for smart highway construction in developing countries. For instance, the commercial construction industry in India is expected to grow by nearly 4.0% from 2016 to 2022. All such instances are anticipated to contribute toward growth of the smart highway construction market.
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Top Players:
Key companies profiled in the smart highway construction market report include Transstroy, Alcatel-Lucent Enterprise, Huawei Technologies Co. Ltd., VINCI Construction, IBM, Heijmans N.V., ABB Ltd., Cisco Systems, Inc., Colas, Nippon Koei Co. Ltd.
Key Findings Of The Study
.The report provides an extensive analysis of the current and emerging smart highway construction market trends and dynamics.
.Depending on solution, the monitoring & detection systems segment dominated the smart highway construction market, in terms of revenue in 2020.
.By technology, the smart transportation system segment registered highest revenue in 2020.
.On-premise sector is projected to register highest growth rate in the coming years.
.The key players within the smart highway construction market are profiled in this report, and their strategies are analyzed thoroughly, which help
understand competitive outlook of the smart highway construction industry.
.The report provides an extensive analysis of the current trends and emerging opportunities of the market.
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David Correa
Allied Analytics LLP
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