North America 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)

Code: TIPRE00026829 | Pages: 124 | Industry: Automotive and Transportation | Date: Jan 2022
Covid

Market Introduction

North America’s growing reliance on cars and a rapidly aging highway infrastructure compromising safety, efficiency, and promoting congestion are paving the way for deploying smart highway infrastructure solutions. Increasing global trade and rising intercity travel have increased traffic on highways at a tremendous rate. Thus, governments are encouraging the construction of smart highways to reduce the travel time and burden on highways. Intelligent Transportation Systems (ITS) technologies offer the best solutions to a broad range of problems, such as controlling the flow of information among vehicles and the infrastructure, maximizing safety, and relieving congestion and associated costs. Other benefits offered by the ITS solutions include collision detection and warning, guidance devices, electronic brakes, and electronically controlled steering, which is anticipated to boost the market growth during the forecast period. The government is investing actively towards the improved use of existing roadways, construction of new highways, reduction in traffic accidents, and conservation of energy resources. The US Department of Energy & Transportation is promoting R&D to help develop innovative smart transportation solutions and alternative fuel technologies. The Automated Highway System (AHS) program is a government-industry-academia collaboration to improve the safety, mobility, and quality of highway travel in the US using automated control technologies. The growing incorporation of intelligent systems in a highway setting and on vehicles is promoting the AHS's objectives and bolstering the smart highway market growth in North America.

The enactment of lockdowns and travel restrictions, shutdown of production facilities, and the shortage of employees had adversely affected the performances of major players in the mobility and transportation industry in North America. The US notably witnessed the most severe impact of the COVID-19 outbreak in 2020. The initial data from a national survey of connected vehicles, a 20% drop in the average distances driven and several critical shifts in driving behavior were recorded. Additionally, the survey's key findings reported a 17% rise in speeding, a 10% increase in failures to adhere to road signs, and a 15% increase in harsh-cornering events. The year 2020 has declined growth for the market, however, from the beginning of 2021 market gained the momentum. Various industry players have been developing and implementing solutions to keep motorists informed and safe on the roads, more so to avoid the pandemic's spread and ensure travelers' safety in a scenario of changing driving behavior. For instance, IBI Group collaborated with the Ministry of Transportation of Ontario (MTO) to develop the 511 Ontario mobile application, introducing the Trucker Mode feature, which enables commercial vehicle operators to access helpful information about the essential touch points along their highway routes, including service and rest stations that are open throughout the crisis. Furthermore, as the electrification of vehicles, including trailers, trucks, and transit buses, becomes pervasive and an ongoing trend of electric cars, traversing the route efficiently also requires intelligent electric vehicle charging solutions along the highway. Therefore, the market is gaining momentum in the region, owing to the infrastructural readiness of the region and the rising requirement of intelligent traffic management and mobility solutions for smart highways.

Market Overview and Dynamics

The smart highway market in North America is expected to grow US$ 8,909.89 million in 2021 to US$ 28,375.15 million by 2028; it is estimated to grow at a CAGR of 18.0% 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. For instance, The Colorado Department of Transportation plans to equip 2,500 government vehicles with C-V2X and Dedicated Short-Range Communications (DSRC) technologies in 10 years. 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.

Key Market Segments

In terms of technology, the smart transport management system segment accounted for the largest share of the North America 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 North America 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 North America 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 North America smart highway market
  • Efficiently plan M&A and partnership deals in North America 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 North America smart highway market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Smart Highway Market Segmentation

 

North America Smart Highway Market – By Technology

  • Smart Transport Management System
  • Smart Traffic Management System
  • Communication System
  • Monitoring System
  • Others

North America Smart Highway Market – By Component

  • Hardware
  • Software

North America Smart Highway Market – By Country

  • US
  • Canada  
  • Mexico     

North America 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.           North America Smart Highway Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinions

5.           North America Smart highway Market – Key Market Dynamics

5.1         Key Market Drivers

5.1.1        Broadening Demands for Sustainable Highways to Reduce Traffic Issues

5.1.2        Increasing Integration of Traffic Control Centers and Route Guidance Systems

5.2         Key Market Restraints

5.2.1        Absence of Supporting Infrastructure, Unawareness, and Unwillingness to Adopt New Ways

5.3         Key Market Opportunities

5.3.1        Growing Digital Reality and Mobility Innovation

5.4         Future Trends

5.4.1        Emergence of Smart City Concepts

5.5         Impact Analysis of Drivers And Restraints

6.           North America Smart Highway Market Analysis

6.1         North America Smart highway Market Overview

6.2         North America Smart Highway Market Revenue Forecast and Analysis

7.           North America Smart highway Market Analysis – By Technology

7.1         Overview

7.2         North America: 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.           North America Smart highway Market Analysis – By Component

8.1         Overview

8.2         North America: 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.           North America Smart highway Market – Country Analysis

9.1         Overview

9.1.1        North America: Smart highway Market, By Country

9.1.1.1          United States: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1          United States: Smart highway Market, By Technology

9.1.1.1.2          United States: Smart highway Market, By Component

9.1.1.2          Canada: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1          Canada: Smart highway Market, By Technology

9.1.1.2.2          Canada: Smart highway Market, By Component

9.1.1.3          Mexico: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1          Mexico: Smart highway Market, By Technology

9.1.1.3.2          Mexico: Smart highway Market, By Component

10.        North America 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.             North America Smart Highway Market Revenue and Forecast to 2028 (US$ Million)

Table 2.             North America: Smart highway Market Revenue Share, By Country

Table 3.             United States Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)

Table 4.             United States Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)

Table 5.             Canada Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)

Table 6.             Canada Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)

Table 7.             Mexico Smart highway Market, By Technology– Revenue and Forecast to 2028 (US$ Million)

Table 8.             Mexico Smart highway Market, By Component – Revenue and Forecast to 2028 (US$ Million)

Table 9.             List of Abbreviation

 


LIST OF FIGURES

Figure 1.           North America Smart Highway Market Segmentation

Figure 2.           North America Smart Highway Market Segmentation – By Country

Figure 3.           North America Smart Highway Market Overview

Figure 4.           North America Smart Highway Market, By Technology

Figure 5.           North America Smart Highway Market, By Component

Figure 6.           North America Smart Highway Market, By Country

Figure 7.           North America PEST Analysis

Figure 8.           North America Smart highway Market- Ecosystem Analysis

Figure 9.           North America Smart Highway Market Impact Analysis of Drivers and Restraints

Figure 10.        North America Smart Highway Market Revenue Forecast and Analysis (US$ Million)

Figure 11.        North America: 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.        North America: 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 North America Smart highway Market

Figure 21.        North America: Smart highway Market Revenue Share, By Country (2020 and 2028)

Figure 22.        United States: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Canada: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        Mexico: Smart Highway Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25.        Impact of Covid-19 Pandemic in North American Country Markets

 

 

  1. Cisco Systems, Inc.                                                                               
  2. Huawei Technologies Co., Ltd.                                                           
  3. Kapsch TrafficCom AG                                                                         
  4. Nokia Coropration                                                                                 
  5. Siemens AG                                                                                            
  6. Conduent, Inc.                                                                                       
  7. Toshiba Corporation                                                                              
  8. Nippon Koei, Co., Ltd.                                                                           
  9. Telegra                                                                                                  
  10. IBI Group                                                                                              
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America smart highway market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America smart highway market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the smart highway market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution  

 

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