Smart Highways Market Worth $27,992.0 Million by 2019
DALLAS, October 8, 2014 /PRNewswire/ --
According to new research report "Smart Highway Market by Technology (Intelligent Transportation Management, Intelligent Traffic Management, Communication, Monitoring), and by Display (Variable Message Signs, Digital Signage) - Global Forecast to 2019", by MarketsandMarkets, defines and segments the global Smart Highway market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with insights into trends, opportunities, and challenges.
Browse 75 market tables and 37 figures spread through 141 pages on"Smart HighwayMarket - Global Forecast to 2019"
Early buyers will receive 10% customization on this report.
The increased need for more reliable, safe, and efficient transportation and growth of interstate highways market are playing a major role in shaping the future of Smart Highways Market. As the need for safe, traffic free, and less travel time is increasing organizations are introducing new technologies at an affordable cost. Because of these requirements the transportation and traffic technology vendors companies is witnessing dramatic technological changes, and highways is one of the attractive segment among them. The introduction of Electronic Toll Collection (ETC) has permitted easy payments and has eliminated the idle time at toll. The successful deployment of highway technology, solutions and its increasing adoption has forced the companies to expand into new geographies. This has made smart highways an attractive high growth segment for enterprises.
MarketsandMarkets has segmented the global Smart Highways Market by technology: intelligent transport management system, intelligent traffic management system, communication system and monitoring system; and services: consultancy, managed services, and maintenance and operation services; by display: variable message signs, digital signage, and others; by deployments: on-premise and on-cloud; and by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA). The biggest player of this market who contributes to the major share include Alcatel Lucent, IBM, Schneider Electric, Huawei, Cisco, Siemens AG, Indra, Kapsch AG, LG CNS and Xerox Corporation.
The major forces driving this market are need for more reliable, safe, and congestion free is driving the growth in Smart Highways Market. The prime opportunity which is expected to boost this market is adoption of Intelligent Transport System (ITS) and developing infrastructure.
MarketsandMarkets expects that the global Smart Highways Market is estimated to be $12,564.4 million in 2014 and is expected to grow to $27,992.0 million in 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 17.4% from 2014 to 2019. In the current scenario, APAC is expected to be the biggest market on the basis of need for advance transportation and execution of smart cities projects. MarketsandMarkets further expects that the increasing demand for safety, congestion free, and less travel time consumption is driving the growth of the market.
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