Smart Highways Market Size, Share, Industry Key Features and Growth Drivers

Posted by Sakshi Mishra on April 30th, 2021

Market Synopsis

The data analysts of Market Research Future Reports carried out a rigorous research which states that the global smart highways market is anticipated to value USD 44 billion, prospering at a CAGR of 16% during the forecast period from 2017 to 2023.  The growing demand for travelling and the time consciousness are the most crucial factor driving the global smart highways market 2020. There has been a growing demand for congestion free traveling which is propelling the market.  Advanced technologies like automatic number plate recognition, lane departure warning, incident detection system are being implemented which plays a crucial role in market expansion. Moreover, the increasing demand for developed and sustainable roads and highways is the most crucial factor driving the global smart highways market.

On the other hand, the outbreak of COVID-19 has resulted to a change in market dynamics. Several markets have been affected adversely due to the observation of lockdown in several nations. The data analysts at MRFR have done a precise evaluation of COVID-19 aftermath. We will provide COVID-19 impact report analysis.

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Market Segmentation

The worldwide smart highways market can be classified on the basis of display system, technology, deployment, service, and region.

On the grounds of display system, the worldwide smart highways market can be classified on the grounds of Variable message signs, Digital signage, and others.

On the grounds of technology, the worldwide smart highways market can be classified on the grounds of transportation management system, traffic management system, communication system, and monitoring system.

On the grounds of deployment, the worldwide smart highways market can be classified on the grounds of Cloud and on-premise.

On the grounds of service, the worldwide smart highways market can be classified on the grounds of Maintenance and operation, Managed, Consultancy, and others.

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