According to a new report published by Allied Market Research, titled, “Smart Highway Construction Market by Solution, Deployment And Technology: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the 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.
Smart highways integrate sensors, advanced computing technologies, and monitoring systems into a unified framework for intelligent motorways. This enables solutions like traffic management, communication, and transportation optimization to gain traction. Traffic technology vendors are introducing innovative solutions to address growing congestion, with roads being a key focus area. Countries with inefficient transportation and logistics systems face significant challenges, prompting governments worldwide to invest in smart highway development. As trade drives economic growth, smart highways are increasingly vital for enhancing trading activities.
Additionally, the push for smart city development is fueling the smart highway construction market. For example, in 2019, China launched 500 smart city pilot projects, supported by government funding. Similarly, the UAE’s Smart Dubai Plan 2021 is driving smart highway adoption in the Middle East. Furthermore, the rise in commercial construction activities, particularly in developing nations, is boosting demand for smart highways. For instance, India’s commercial construction sector is projected to grow by approximately 4.0% from 2016 to 2022. These factors are expected to significantly contribute to the expansion of the smart highway construction market.
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Smart Highway Construction Market Segmentation:
By SOURCE OF ENERGY
SOLAR
WIND
VIBRATION
By SOURCE OF FUNDING
GOVERNMENT FUNDING
OTHER FUNDING
By GEOGRAPHY
NORTH AMERICA
U.S
Canada
Mexico
EUROPE
Germany
France
UK
Itaiy
Rest of Europe
ASIA-PACIFIC
Japan
China
Australia
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Rest of LAMEA
Many players in smart highway construction market are using various strategic moves such as agreement, collaboration, partnership, and product development to strengthen their position in smart highway construction market. For instance, in August 2021, Colas agreed to purchase Destia, a key participant in Finland’s road and rail industries. In Finland, the Destia Group is a prominent participant in road, rail, and energy infrastructure. Such mergers and agreements provide lucrative growth opportunities for the smart highway construction market growth.
However, owing lockdowns imposed in countries such as China, the U.S., and India due to coronavirus, numerous manufacturers in the global smart highway construction market had to halt their business production. This disruption has led to a direct impact on sales of smart highway construction equipment. However, it is expected that reopening of production facilities and introduction of coronavirus vaccines would lead to reopening of smart highway construction firms.
Key Market Players
- Heijmans
- Vinci Construction
- Cisco
- Nippon Koei Co., Ltd.
- Colas Ltd.
- Continental Engineering Corporation
- ABB Limited
- Alcatel-Lucent Enterprise
- Huawei Technologies Co., Ltd.
- Schneider Electric
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Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging smart highway construction market trends and dynamics.
- In-depth emerging smart highway construction market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
- Extensive analysis of the emerging smart highway construction market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global emerging smart highway construction market forecast analysis from 2021 to 2030 is included in the report.
- The key players within emerging smart highway construction market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the emerging smart highway construction industry.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging smart highway construction market trends and dynamics.
- In-depth emerging smart highway construction market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
- Extensive analysis of the emerging smart highway construction market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global emerging smart highway construction market forecast analysis from 2021 to 2030 is included in the report.
- The key players within emerging smart highway construction market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the emerging smart highway construction industry.
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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