logo
logo
Sign in

Global Smart Highway Market to Be Propelled Growing Difficulties from Traffic Congestions, and Large Investments Made Towards the Development of Smart City Projects by CAGR of ~19% During 2023 – 2033

avatar
Kenneth Research
Global Smart Highway Market to Be Propelled Growing Difficulties from Traffic Congestions, and Large Investments Made Towards the Development of Smart City Projects by CAGR of ~19% During 2023 – 2033

Kenneth Research published a report titled Smart Highway Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global smart highway market in terms of market segmentation by technology, component, service, deployment mode, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.


Detailed description: https://www.kennethresearch.com/report-details/global-smart-highway-market/10065224


The global smart highway market is expected to hold a revenue of ~ USD 145 billion by 2033, growing from ~ USD 25 billion in 2022. The market growth can be attributed to the frustrating traffic congestion, the large investments towards smart city projects, carbon dioxide emission from traffic, the use of autonomous vehicles, and concerns over traffic accidents.

The global smart highway market is expected to grow at a CAGR of ~19% from 2023-2033. The market is segmented by deployment mode into on-premise and cloud. Between these, the cloud segment is anticipated to hold the largest market share by the end of 2033, owing to the growth of data being stored in the cloud, cost-effectiveness, scalability, flexibility, reduced downtime, and improved customer service.

The global smart highway market is divided into five major regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is projected to hold the largest market share by the end of 2033, backed by the presence of developed economies, and the government spending on road infrastructure development.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Large Investments for Smart City Projects to Boost the Market Growth    

It is estimated that the global technology spending on the initiatives on smart city projects should reach ~190 billion in 2023. Smart cities aim to achieve minimum environmental impact and better performance in a cost-effective manner with the help of automated services functioning based on the data collected by sensors. Smart highways are inevitable to facilitate the services, planning, construction, and management of smart cities through the use of technologies, including artificial intelligence (AI), the internet of things (IoT), and cloud computing.

However, high investments, limits in technology infrastructure, and the slow adoption of smart highways in some places are expected to operate as key restraints to the growth of the global smart highway market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global smart highway market which includes company profiling of Advanced Services in Mobility S.L. (ASIMOB), Bercman Technologies AS, Cisco Systems, Inc., Delcan Technologies Inc (DTI), Huawei Technologies Co., Ltd., IBI Group Inc., International Business Machines Corporation (IBM Corp.), Indra Sistemas S.A., Infineon Technologies AG, INRIX, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart highway market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     


Request Report Sample@ https://www.kennethresearch.com/sample-request-10065224


Kenneth Research is a leading service provider for strategic market research firm and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

Contact for more Info:

AJ Daniel

Email: [email protected]

U.S. Phone: +1 313 462 0609 


collect
0
avatar
Kenneth Research
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more