Smart Highway Market Revenue Growth and Quantitative Analysis Till 2030

1. Market Research Report EXCLUSIVE EDITION Smart Highway Market Report Opportunities, and Forecast By 2030 Global Industry Analysis, Forecast and Trends, 2022-2030 © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

2. Smart Highway Market © 2020 Statsville Consulting Private Limited Market Statsville Group (MSG) A part of Statsville Consulting Private Limited American Office American Office – 416, East Standsberry Street, Perkins, Oklahoma 74059, USA EMEA EMEA– 1165 Budapest 16 Diósy Lajos u. 24., Europe Asia Asia- -Pacific Office Pacific Office – F-178 Subhash Marg C Scheme, Ashok Nagar, Jaipur, Rajasthan, 302001 www.marketstatsville.com Disclaimer Disclaimer: : Any information and/or material provided by Statsville Consulting Private Limited, including any and all the analysis and/or research from Market Statsville Group (MSG), is offered to a selected group of customers in response to orders for such information, material, analysis, and/or research. As a customer of Statsville Consulting, you acknowledge that our information, material, and/or services are for your internal use only, and not for any external use and/or dissemination, or general publication, and/or disclosure to any third parties. Any and all the information and/or material provided by Statsville Consulting are based on primary interviews and/or secondary research, and are, therefore, subject to fluctuation and variance. Statsville Consulting takes no responsibility for any incorrect information and/or material supplied to us by sources we rely on, and no part of our analysis or research may be given, lent, resold, or disclosed to any third parties, including non-customers, without explicit or written permission from Statsville Consulting. Unauthorized reproduction and/or transmission of our information, material, analysis, and/or research in any form and by any means, including photocopying, mechanical/electronic recording,or otherwise, without the explicit and written permission of Statsville Consulting, is expressly and clearly prohibited. Any use of the information, material, analysis, and/or research provided by Statsville Consulting is at your sole risk; you acknowledge that the information, material, analysis, and/or research is provided “as is” and that Statsville Consulting provides no warranty of any kind, express or implied, with regard to the information, material, analysis, and/or research, including but not limited to, merchantability and fitness for any purpose and/or use. At the end, Statsville Consulting will be responsiblefor the final decision of any action. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

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5. Smart Highway Market Revenue Growth and Quantitative Analysis Till 2030 Smart Highway Market by Component (Hardware, Software, Service), by Deployment (On-Premise, Cloud), by Technology (Intelligent Transportation Management System, Intelligent Management System, Communication System), by Region - Global Forecast to 2027 Description The global smart highway market size was valued at USD 32,923.9 million in 2020 and is projected to reach USD 92,090.8 million by 2027, growing at a CAGR of 18.7% from 2021 to 2027. Smart highways are the roads built with the installation of sensors and IoT technology to make driving much safer and greener. Many governments across the globe are investing in building smart highways for providing real-time information to the drivers about the road condition and various traffic information. Smart highways are particularly useful in risky and mountainous regions for making driving safer by providing warnings about the incoming traffic and different landslides. Smart roads also generate energy which helps charge electric lights on the side of the road and provides power to the electric vehicles, which are on the move. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

6. An increase in the number of vehicles on the road and a surge in road traffic injuries drive the market's growth. In addition, the rise in international trade among emerging countries across the globe fuels the development of the market. However, high initial and maintenance costs and a lack of appropriate technical knowledge among the end users hamper the market's growth. Furthermore, the rise in advanced technologies in the transportation sector and the emergence of smart vehicles are expected to provide lucrative opportunities for developing the global market. In addition, smart roads generally consist of different computing technologies, such as sensors and smart monitoring systems, which are all linked into a monitoring unit. Furthermore, the need for better and sustainable highways form across the globe, and demand for safer roads drive the market's growth. In addition, various government initiatives were taken for reducing the rise in pollution and increase in congestions on the roads fuel the development of the market. However, unwillingness to adopt new ways of transport hampers the growth of the market. Furthermore, the surge in advanced technologies in the transportation sector and the emergence of smart vehicles are expected to provide lucrative opportunities for the growth of the global market. Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/smart-highway- market © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

7. Global Smart Highway Market Dynamics Drivers: Rise in the number of vehicles among emerging countries There is an increase in the number of vehicles being sold every year. The inadequate infrastructure for transportation in many countries is the primary factor for the rise in vehicle sales. Also, there is an increase in disposable income of the people with globalization and urbanization. According to the International Organization of Motor Vehicle Manufacturers, about 90.4 million vehicles were sold in 2019, as 75 million were sold in 2010. However, this increase in the number of vehicles is causing heavy traffic, especially in urban areas. Consequently, there is a rise in demand for smart highways and roads that monitor traffic congestion on every route and divert traffic accordingly to have a faster and smoother journey. Restraints: High initial and maintenance cost Various technologies integrated to develop a smart highway require high capital costs. And there is a vast infrastructure gap globally. According to a World Bank report, investments of 4.5% of GDP will enable the developing countries to reach their infrastructure-related sustainable development goals. However, developing countries spend less than required on infrastructure development. For instance, according to the Economic Survey of India 2018-19, India needs to double its annual spending on infrastructure. Hence, high initial and maintenance costs of developing and operating the smart highway for the developing countries are the biggest hurdle in the market growth. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

8. Opportunities: Emergence of smart vehicles IHS Automotive estimates that there will be nearly 2 billion connected cars on roads by 2025. And, Minority Corporate Counsel Association (MCCA) states that autonomous vehicles are anticipated to generate a USD 7 trillion annual revenue stream by 2050. Many multinational companies are investing in the R&D of autonomous vehicles. However, there have been wake incidents such as the death of a pedestrian during an Uber self-driving program and the end of a driver in a Tesla on autopilot mode. Such incidents could be prevented with smart highways. Smart highways, automated vehicles, and monitoring software increases the capability to identify and stop such incidents. Consequently, the emergence of smart vehicles develops potential growth opportunities for smart highways. Scope of the Report The study categorizes the smart highway market based on components, deployment model, technology, and regions. Direct Purchase Report: https://www.marketstatsville.com/buy-now/smart-highway- market?opt=2950 © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

9. By Component Outlook (Sales, 2017-2027, USD Million) •Hardware •Software •Service By Deployment Model Outlook (Sales, 2017-2027, USD Million) •On-Premise •Cloud By Technology Outlook (Sales, 2017-2027, USD Million) •Intelligent Transportation Management System •Intelligent Management System •Communication System •Monitoring System •Others By Region Outlook (Sales, 2017-2027, USD Million) •North America (US, Canada, Mexico) •South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America) •Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe) •Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific) •The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA) © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

10. Services, by Component, is estimated to be the fastest-growing segment during the forecast period By component, the smart highway market is categorized into hardware, software, and services. In 2020 Hardware is accounted for the largest market revenue share of 59.98%, and Services is the fastest-growing segment with a CAGR of 22.9% in the global smart highway market during the forecast period. Emerging countries across the globe are inclining toward the adoption of smart roads hardware for harnessing the power of photovoltaic pavements to build roads, which can convert solar energy into electrical and radioactive elements. In addition, smart highway hardware is used to increase road usability and improve the lighting on the road to save energy and money. Furthermore, this hardware is used to develop a safety precaution system and eco-friendly system, which in turn propels the growth of the smart highway hardware market. In addition, smart road hardware is composed of different elements, including road lighting systems, various types of sensors & surveillance cameras, and traffic congestion systems. This system helps inefficient functioning of the roads in risky and hilly regions. Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.marketstatsville.com/table- of-content/smart-highway-market © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

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