Europe Smart Highway Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Smart Transport Management System, Smart Traffic Management System, Communication System, Monitoring System, and Others) and Component (Hardware and Software)
Market Introduction
With increasing investments from government and developments of enhanced public transport, the Europe smart highway market is anticipated to witness a significant growth during the forecast period. Technological advancements, such as photovoltaic panels, solar panels, the Internet of Things (IoT), and sustainable landscaping have further boosted the demand of the smart highway market. Europe is one of the leading regions in the development of electric vehicles. Thus, smart highways with the facility of charging electric car batteries on the go are anticipated to provide huge potential for the market’s growth in the region. There are currently various developments and facilities being tested, such as the European Union’s FABRIC program, which is expected to pave the way for future e-mobility. The growing implementation of the smart city concept and technology-driven logistics to better manage traffic flow on Europe’s busiest roads are leading the region’s smart highway market. Automakers are working with infrastructure providers to establish the necessary telematics equipment and communication protocols. The European Commission has set an objective of reducing road fatalities by increasing the use of technology on Europe’s motorways.
In Europe, the timing and the degree of response by different countries to the COVID-19 pandemic and then gradually restarting economies resulted in a variety of impacts to the road network. Across the region. The significant European mobility and transportation industry players are expected to suffer an economic hit due to the lack of raw materials from the global supply chain. Moreover, the smart highway solutions use a combination of several electronic components and devices, such as transponders, cameras, RFID chips, controllers, and processors, along with systems such as smart signboards, smart streetlights, and electrified roadways. Since the borders are sealed and strict lockdowns are enforced as preventive measures, the pandemic directly impacts the supply chain of electronic components and devices. However, with the uplifting of lockdowns and implementation of the vaccination process, the road and highway construction activities have started again, increasing the need for intelligent transportation systems to ensure seamless and safe mobility of vehicles on highways. The impact of the COVID-19 pandemic has resulted in cities and municipalities adopting sustainable, future-oriented solutions to address increasing mobility demand and growing environmental pollution. Various prominent companies in the European region, such as Siemens, are rigorously implementing eco-friendly traffic management and digital solutions for building an efficient and safer highway transport system across the region. Therefore, after a slowdown in transportation and infrastructural activities in Europe, the smart highway market is attracting positive avenues due to the accelerating shift in mobility management trends and rising focus on adequate eco-friendly transportation.
Market Overview and Dynamics
The smart highway market in Europe is expected to grow US$ 7,549.47 million in 2021 to US$ 24,952.35 million by 2028; it is estimated to grow at a CAGR of 18.6% from 2021 to 2028. Various technologies, such as ad-hoc mesh Wi-Fi and Cellular Vehicle-to-Everything (C-V2X), keep the drivers informed of the changes in traffic lights and communicate with other vehicles to avoid collisions. Innovations in digital technologies are anticipated to provide lucrative growth opportunities for the smart highway market players during the forecast period. Governments across the region are significantly investing in connected vehicles technologies to boost the smart highway market growth. In the coming years digital Reality is expected to play a greater role in the smart car interactions with infrastructures around them. The automotive industry has made huge strides on the Internet of Vehicles (IoV). Machine learning can enable automakers to monitor their vehicles in real-world environment handling scenarios, such as changes in driving conditions. Glow in dark roads and road lights activated by motion sensors to illuminate a particular section are also growing rapidly. Solar-powered roadways are gaining rapid traction among highway professionals. Many countries have been investing in creating parts of smart highways, with specific efforts focusing on solar roads and smart traffic infrastructures. The Netherlands established the Solar Road pilot project, creating a 70-meter stretch of a bike path and producing nearly 10,000 kWh in October 2014. More projects moving to more heavy traffic areas are in progress for testing. Therefore digital reality and mobility innovation are the factors expected to drive the demand for smart highway market during the forecast period.
Key Market Segments
In terms of technology, the smart transport management system segment accounted for the largest share of the Europe smart highway market in 2020. In term of component, hardware segment held a larger market share of the smart highway market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the smart highway market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cisco Systems, Inc.; Huawei Technologies Co., Ltd.; Kapsch TrafficCom AG; Nokia Coropration; Siemens AG; Conduent, Inc.; Toshiba Corporation; Nippon Koei, Co., Ltd.; Telegra; and IBI Group among others.
Reasons to buy report
- To understand the Europe smart highway market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe smart highway market
- Efficiently plan M&A and partnership deals in Europe smart highway market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe smart highway market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.
Europe Smart Highway Market Segmentation
Europe Smart Highway Market – By Technology
- Smart Transport Management System
- Smart Traffic Management System
- Communication System
- Monitoring System
- Others
Europe Smart Highway Market – By Component
Europe Smart Highway Market – By Country
- France
- Germany
- UK
- Italy
- Russia
- Rest of Europe
Europe Smart Highway Market – Companies Mentioned
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Kapsch TrafficCom AG
- Nokia Coropration
- Siemens AG
- Conduent, Inc.
- Toshiba Corporation
- Nippon Koei, Co., Ltd.
- Telegra
- IBI Group
Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Smart Highway Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe Smart highway Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Integration of Traffic Control Centers and Route Guidance Systems
5.2 Key Market Restraints
5.2.1 Inadequacy of Supporting Infrastructure, Unawareness, and Unwillingness to Adopt New Ways
5.3 Key Market Opportunities
5.3.1 Escalating Digital Reality and Mobility Innovation
5.4 Future Trends
5.4.1 Rise of Smart City Concepts
5.5 Impact Analysis of Drivers And Restraints
6. Europe Smart Highway Market Analysis
6.1 Europe Smart highway Market Overview.
6.2 Europe Smart Highway Market Revenue Forecast and Analysis
7. Europe Smart highway Market Analysis – By Technology
7.1 Overview
7.2 Europe: Smart highway Market, By Technology
7.3 Smart Transport Management System
7.3.1 Overview
7.3.2 Smart transport management system: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.4 Smart Traffic Management System
7.4.1 Overview
7.4.2 Smart Traffic Management System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.5 Communication System
7.5.1 Overview
7.5.2 Communication System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.6 Monitoring System
7.6.1 Overview
7.6.2 Monitoring System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
8. Europe Smart highway Market Analysis – By Component
8.1 Overview
8.2 Europe: Smart highway Market, By Component
8.3 Hardware
8.3.1 Overview
8.3.2 Hardware: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
8.4 Software
8.4.1 Overview
8.4.2 Software: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
9. Europe Smart highway Market – Country Analysis
9.1 Overview
9.1.1 Europe: Smart highway Market, By Country
9.1.1.1 Germany: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Germany: Smart highway Market, By Technology
9.1.1.1.2 Germany: Smart highway Market, By Component
9.1.1.2 France: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 France: Smart highway Market, By Technology
9.1.1.2.2 France: Smart highway Market, By Component
9.1.1.3 Italy: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Italy: Smart highway Market, By Technology
9.1.1.3.2 Italy: Smart highway Market, By Component
9.1.1.4 UK: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 UK: Smart highway Market, By Technology
9.1.1.4.2 UK: Smart highway Market, By Component
9.1.1.5 Russia: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Russia: Smart highway Market, By Technology
9.1.1.5.2 Russia: Smart highway Market, By Component
9.1.1.6 Rest of Europe: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: Smart highway Market, By Technology
9.1.1.6.2 Rest of Europe: Smart highway Market, By Component
10. Europe Smart highway Market – COVID-19 Impact Analysis
10.1 Overview
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Development
12. Company Profiles
12.1 Cisco Systems, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Huawei Technologies Co., Ltd.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Kapsch TrafficCom AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Nokia Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Siemens AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Telegra
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Conduent, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Toshiba Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Nippon Koei Co., Ltd.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 IBI Group
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe Smart Highway Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Smart highway Market, By Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 5. France Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 6. France Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 7. Italy Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 8. Italy Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 9. UK Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 10. UK Smart highway Market, By Component– Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 12. Russia Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Europe Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Smart Highway Market Segmentation
Figure 2. Europe Smart Highway Market Segmentation – By Country
Figure 3. Europe Smart Highway Market Overview
Figure 4. Europe Smart Highway Market, By Technology
Figure 5. Europe Smart Highway Market, By Component
Figure 6. Europe Smart Highway Market, By Country
Figure 7. Europe PEST Analysis
Figure 8. Europe Smart highway Market- Ecosystem Analysis
Figure 9. Europe Smart Highway Market Impact Analysis of Drivers and Restraints
Figure 10. Europe Smart Highway Market Revenue Forecast and Analysis to 2028 (US$ Million)
Figure 11. Europe: Smart highway Market Revenue Share, By Technology (2020 and 2028)
Figure 12. Smart transport management system: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 13. Smart Traffic Management System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 14. Communication System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 15. Monitoring System: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 16. Others: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 17. Europe: Smart highway Market Revenue Share, By Component (2020 and 2028)
Figure 18. Hardware: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 19. Software: Smart Highway Market – Revenue and Forecast to 2028 (USD Million)
Figure 20. Geographic Overview of Europe Smart highway Market
Figure 21. Europe: Smart highway Market Revenue Share, By Country (2020 and 2028)
Figure 22. Germany: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. France: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Italy: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. UK: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Russia: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of Europe: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Impact of Covid-19 Pandemic in Europe Country Markets
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Kapsch TrafficCom AG
- Nokia Coropration
- Siemens AG
- Conduent, Inc.
- Toshiba Corporation
- Nippon Koei, Co., Ltd.
- Telegra
- IBI Group
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