Smart Highway Market CAGR Seeing 18.7% Growth to Worth $92.38 Billion by 2026

The global market for smart highway is expected to grow at a CAGR of 18.7% from 2019 to 2026 and will surpass $92.38 billion by 2026, claims a new research report published by Big Market Research.

Portland, OR, April 30, 2020 (GLOBE NEWSWIRE) -- As per the report, the increase in road traffic injuries and growth in the number of vehicles on the road are major factors boosting the growth of global smart highway market. In addition, rise in international trade among the developing economies across the globe is impelling the market growth. Smart highways provide several benefits such as enhancing traveler safety, reducing road accidents, reducing driving time, and enhancing mass transit systems. Particularly, smart highways are useful in risky and mountainous region as it provides warning regarding the incoming traffic as well as different landslides and makes driving safer. Also, emergence of smart vehicles and technological advancements in the transportation sector is likely to create lucrative opportunities in the global smart highway market. Many governments of the developed and developing countries are investing more in building smart highways to providing real-time information to the drivers regarding the traffic information and road condition. However, lack of proper technical knowledge and high maintenance costs associated with smart highways is expected to hinder the market growth in the coming years.

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The key insights offered in the report include:

1. Market drivers, scope, challenges, market restraints, market opportunities, and key market players.

2. Comprehensive qualitative and quantitative analysis of trends and market valuation that helps in evaluating the future scope of the market.

3. A broad summary of the market by means of prominent players and key product standings.

4. In-depth insights about the market based on the regions, sales, revenue, and market growth during the period of forecast.

5. Opportunities, recent developments, and current trends in the global smart highway market.

6. Market shares and company profiles of key merchants from 2019 to 2026.

The research report also provides detailed information on the key segments of the Global Smart Highway Market. The key segments are component, deployment mode, technology, and region. By component, the report categorizes the market into hardware, software, and service. Based on deployment mode, the industry is classified into on-premise and cloud. On the basis of technology, the market is bifurcated into international transportation management system, communication system, intelligent management system, monitoring system, and others. Furthermore, this report focuses on the regions comprising Asia Pacific, North America, LAMEA, and Europe. In addition, the report sketches the competitive scenarios of different regions to help investors, market vendors, and new entrants to determine developing economies.

Along with this, the report provides information about major key players as well as small players of the smart highway market. Some of these players are BB Ltd, AT&T Inc., ALE International, Cisco System Inc., Huawei Technologies Co. Ltd., IBM Corporation, LG CSN, Schneider Electric SE, Honeywell International Inc., Siemens AG, and others.

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The research report presents performance of each player operating in the industry. Furthermore, the study provides an overview of recent developments of each player in the market.

To conclude, this report is a valuable source of information and direction for companies and individuals interested in the industry. Additionally, we strive to offer customized reports to fulfill on demand and special requirements of our clients.

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