Market Overview:
The global smart roads market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for smart transportation and communication systems, traffic management systems, and others. In addition, the growing adoption of smart roads in urban traffic and highway applications is also contributing to the growth of this market. However, factors such as high installation costs and lack of standardization are restraining the growth of this market. On the basis of type, the global smart roads market can be segmented into transportation and communication system, traffic management system, and others. The transportation and communication system segment is expected to account for a major share of this market during the forecast period owing to its growing demand for advanced vehicular safety features such as collision avoidance systems (CAS), lane departure warning (LDW), adaptive cruise control (ACC), automatic emergency braking (AEB) among others.
Product Definition:
A smart road is a type of intelligent transportation system that uses sensors and communication devices to manage traffic flow, optimize safety and reduce environmental impact. Smart roads are typically used in urban areas where traffic congestion is a major problem. They can help improve traffic flow by monitoring the speed and location of vehicles, adjusting the timing of signals accordingly, and providing real-time information to drivers. Smart roads can also help reduce emissions by optimizing fuel consumption and reducing idling time.
Transportation and Communication System:
Transportation and communication system, also known as T&C systems or transportation & communication systems, is a set of equipment that facilitates the safe and efficient movement of people and goods. These are majorly used in roadways to ensure smooth traffic flow between two points. They can be categorized into two types: fixed-wing aircraft (helicopters, gyroplanes) and mobile platforms (road vehicles).
Traffic Management System:
A traffic management system is a set of integrated software and hardware that controls, monitors and analyzes the flow of vehicles on a road. It helps in reducing congestion by providing real-time information related to traffic volume on roads, accidents & incidents, weather conditions etc. The data obtained from these systems is used for making informed decisions to reduce travel time along with avoiding potential hazards due to overcrowding of roads.
Application Insights:
The highway segment dominated the global smart roads market, accounting for over 60.0% share of the overall revenue in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing government investments in improving and expanding existing road infrastructure and construction of new highways across various regions, including North America and Europe. For instance, according to a study conducted by GPS manufacturer garmin in 2018, it was estimated that around USD 3 trillion will be invested globally between 2019 and 2030 on new or improved roads under six major economies; China, India, U.S., Russia Germany & UK.
The others application segment includes transportation systems such as bus rapid transit (BRT), light rail transit (LRT), monorail etc., which are equipped with sensors for monitoring traffic conditions along the route as well as at stations/stops where they stop passengers from boarding or alighting.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing government funding for road infrastructure development and favorable initiatives undertaken by governments of countries, such as U.S., Canada, and Mexico for developing smart roads solutions based on IoT technology.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising demand from developing countries like China and India for advanced traffic management systems that help in efficient utilization of limited road space, reduction of travel time, enhanced safety features among others’ Such factors are expected contribute towards regional growth during the forecast period.
Growth Factors:
- Increasing demand for smart transportation and logistics solutions
- Rising number of vehicular accidents and the need for safety measures
- Proliferation of IoT and big data technologies
- Government initiatives for smart city development
- Growing demand from the automotive industry
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Roads Market Research Report
By Type
Transportation and Communication System, Traffic Management System, Others
By Application
Urban Traffic, Highway, Others
By Companies
Indra Sistemas, IBM, Swarco Holding, Alcatel Lucent, Kapsch, LG CNS, Siemens, Cisco Systems, Schneider Electric, Xerox, Huawei
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
145
Number of Tables & Figures
102
Customization Available
Yes, the report can be customized as per your need.
Global Smart Roads Market Report Segments:
The global Smart Roads market is segmented on the basis of:
Types
Transportation and Communication System, Traffic Management System, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Urban Traffic, Highway, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Indra Sistemas
- IBM
- Swarco Holding
- Alcatel Lucent
- Kapsch
- LG CNS
- Siemens
- Cisco Systems
- Schneider Electric
- Xerox
- Huawei
Highlights of The Smart Roads Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Transportation and Communication System
- Traffic Management System
- Others
- By Application:
- Urban Traffic
- Highway
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Roads Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Roads is a technology that uses sensors and data analytics to improve traffic flow and safety. It can be used in both urban and rural areas, and can help reduce congestion, improve air quality, and save time.
Some of the key players operating in the smart roads market are Indra Sistemas, IBM, Swarco Holding, Alcatel Lucent, Kapsch, LG CNS, Siemens, Cisco Systems, Schneider Electric, Xerox, Huawei.
The smart roads market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Roads Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Roads Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Roads Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Roads Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Roads Market Size & Forecast, 2020-2028
4.5.1 Smart Roads Market Size and Y-o-Y Growth
4.5.2 Smart Roads Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Transportation and Communication System
5.2.2 Traffic Management System
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Urban Traffic
6.2.2 Highway
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Roads Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Roads Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Transportation and Communication System
9.6.2 Traffic Management System
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Urban Traffic
9.10.2 Highway
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Transportation and Communication System
10.6.2 Traffic Management System
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Urban Traffic
10.10.2 Highway
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Transportation and Communication System
11.6.2 Traffic Management System
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Urban Traffic
11.10.2 Highway
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Transportation and Communication System
12.6.2 Traffic Management System
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Urban Traffic
12.10.2 Highway
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Transportation and Communication System
13.6.2 Traffic Management System
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Urban Traffic
13.10.2 Highway
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Roads Market: Competitive Dashboard
14.2 Global Smart Roads Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Indra Sistemas
14.3.2 IBM
14.3.3 Swarco Holding
14.3.4 Alcatel Lucent
14.3.5 Kapsch
14.3.6 LG CNS
14.3.7 Siemens
14.3.8 Cisco Systems
14.3.9 Schneider Electric
14.3.10 Xerox
14.3.11 Huawei
