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U.S. Smart Highway Market Navigating Change A Comprehensive Guide to Future-Proofing Your Business

U.S. Smart Highway Market Navigating Change A Comprehensive Guide to Future-Proofing Your Business

The latest research report, “U.S. Smart Highway Market”, covers various aspects of the industry, including market size, status, trends, and future insights for the next 10 years. It provides a detailed analysis of competitors and key market drivers, highlighting growth opportunities. The report includes analysis of top players, revenue streams, CAGR status, as well as SWOT and PESTLE analysis for each geographic region. This comprehensive research combines qualitative and quantitative data from primary and secondary sources. It aims to provide an in-depth understanding of the current market scenario and the impact of COVID-19 on the industry. The report thoroughly examines each segment of the market.

The U.S. smart highway market size was valued at $6.90 billion in 2019, and is projected to reach $18.52 billion by 2027, growing at a CAGR of 18.2% from 2019 to 2026. Smart road is referred to as a different way in which technologies are incorporated into roads for improving the connection between two or more autonomous vehicles running on the same track and to monitor the road more closely. Numerous benefits of smart roads include improving mass transit systems, reducing driving time, reducing accidents on the roads, and improving traveler safety and the desire for travel. The main purpose of smart roads is to reduce the travelers’ time and lower pollution level on the highways.

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Market Overview: 

This research report provides valuable insights into the current market situation, drawing information and analysis from various sources. It scrutinizes prominent industry players, presenting details on their product specifications, pricing analysis, sales figures, market share, and raw material suppliers. Moreover, the report highlights the principal market trends and drivers, giving a holistic overview of the entire landscape. 

Unveiling the Significant Growth Factors: 

The report delves into the intricate tapestry of factors driving the growth of the Market. A comprehensive analysis of market drivers includes the surging demand for energy-efficient and environmentally friendly solutions, the relentless march of industrialization, and the expansion of the manufacturing sector. These factors, among others, contribute to the market’s upward trajectory. 

Market Performance of Leading Companies: 

The market research report closely monitors the performance of companies in the market. It provides strategic analysis, micro and macro market trends and scenarios, pricing analysis, and a holistic overview of the market situation during the forecast period. The report also examines key players, major collaborations, mergers, and acquisitions, trending innovations, and business policies. 

Increase in the number of vehicles on the road and surge in road traffic injuries drive the growth of the U.S. market. In addition, increase in international trade among the emerging countries across the globe fuels the smart highway market growth. However, high initial and maintenance cost and lack of appropriate technical knowledge among the end users hamper the growth of the market. Furthermore, rise in advance technologies in the transportation sector and emergence of smart vehicles are expected to provide lucrative opportunities for the growth of the market.

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The intelligent transportation system segment is expected to garner significant share during the forecast period. Numerous benefits such as improving the traffic safety, reducing the infrastructure damage, controlling the traffic and gathering traffic data, provided by this system drive the growth of the smart highway market in this segment. However, the monitoring system sector is expected to grow at a highest rate during the forecast period, owing to rapid adoption of this system by various government across the globe for reducing the accidents on roads and helps in prevention of vehicle theft. Thus, driving the growth of the market in this segment.

By connectivity technology, the U.S. smart highway market was led by wireless personal area network (WPAN) segment in 2019 and is projected to maintain its dominance during the forecast period. However, the NB-IoT segment is expected to grow at a highest rate during the forecast period. The report focuses on the growth prospects, restraints, and trends of the U.S. smart highway market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers in the U.S. smart highway market.

Key benefits for stakeholders
– The study provides an in-depth analysis of the U.S. smart highway market share along with the current & future trends to elucidate the imminent investment pockets.
– Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
– Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
– An extensive analysis of the key segments of the industry helps to understand the U.S. smart highway market trends.
– The quantitative analysis of the U.S. smart highway market from 2020 to 2027 is provided to determine the market potential.

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Major Segments of the market: 

The research report includes specific market segments based on region (country), manufacturers, type, and application. Each segment provides information about production and consumption during the forecast period, aiding in the identification of key factors that contribute to market growth. 

Segment review
The U.S. smart highway market is segmented on the basis of component, deployment model, technology, and region. In terms of component, it is bifurcated into hardware, software, services and connectivity technology. As per connectivity type, the market is further bifurcated into cellular IoT, LoRa, NB-IoT, Wi-Fi, SIGFOX, wireline, wireless personal area network (WPAN), and others. By deployment model, the software market is segmented into on-premise and cloud. As per technology, it is segmented into intelligent transportation management system, intelligent management system, communication system, monitoring system, and others.

Top impacting factors
Rise in the number of vehicles among emerging countries
There is an increase in the number of vehicles being sold every year. The unsatisfactory infrastructure for transportation in many countries is the primary factor for the rise in vehicle sales. Also, there is an increase in disposable income of the people with globalization and urbanization. According to International Organization of Motor Vehicle Manufacturers, about 95 million of vehicles were sold in 2018 as that of 75 million were sold in 2010. However, this increase in the number of vehicles is causing heavy traffic, especially in urban areas. Consequently, there is a rise in demand for smart highways and roads that monitor traffic congestion on every road and diverts the traffic accordingly to have a faster and smoother travel.

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Increase in road traffic injuries
According World Health Organization (WHO), 1.35 million people approximately die each year from road traffic crashes. And about 20 – 50 million people suffer non-fatal injuries, with many incurring a disability. As a result, there is an urgency to reduce the number of road traffic injuries and smart highways is considered as one of the best solutions to this problem. The various components of smart highways such as traffic management systems, smart lighting systems, and speed monitoring systems are developed to reduce road traffic injuries. Hence, increase in road traffic injuries fuels the growth of the smart highway market. The 2030 Agenda for Sustainable Development set by the United Nations has an ambitious target of halving the global number of road traffic injuries by 2020.

Key market segments
By Component
– Solution
o Hardware
? Surveillance Camera
? Digital Signage
? Networking Devices
? Monitoring & Detection Systems
? Others
o Software
– Service
o Implementation & Integration Service
o Training & Support Service
o Consulting Service
– Connectivity Technology
o Cellular IoT
? 2G & 3G
? 4G+
o LoRa
o NB-IoT
o Wi-Fi
o SIGFOX
o Wireline
o Wireless Personal Area Network (WPAN)
o Others

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By Deployment Model
– On-Premise
– Cloud

By Technology
– Intelligent Transportation Management System
o Lane Departure Warning (LDW) System
o Automatic Number Plate Recognition (ANPR)
o Incident Detection System (IDS)
o Radio Frequency Identification (RFID)
– Intelligent Management System
o Electronic Toll Collection (ETC) System
o Global Navigation Satellite System (GNSS)/Global Positioning System (GPS)
o Real-Time Traffic Management System
– Communication System
o Radio Network
o Emergency Network
o Data Network
– Monitoring System
o Traffic Measurement
o Weather Management
o Video Surveillance
– Others

Questions & Answers Market Research/Analysis Report Contains to your following:

What is the current size of the market and how is it expected to grow in the future?

What are the key drivers influencing market growth?

What are the major challenges or constraints faced by market participants?

What are the emerging trends and opportunities in the market?

Who are the major competitors in the market and what is their market share?

What are the key customer segments and their preferences within the market?

What are the regional or geographic trends and variations within the market?

What are the regulatory and legal factors impacting the market?

What are the technological advancements or innovations shaping the market?

What are the pricing trends and strategies observed in the market?

What are the distribution channels and their effectiveness in reaching the target market?

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Study Objectives:

  • Conduct a SWOT analysis to evaluate global manufacturers’ market competition.
  • Define, describe, and forecast the market based on type, application, and region.
  • Assess global and regional market potential, advantages, opportunities, challenges, constraints, and risks. Identify drivers and barriers to market growth.
  • Recognize high-growth categories for stakeholder analysis. Strategically analyze growth trends and submarket contributions.
  • Examine competitive developments like expansions, agreements, new product launches, and acquisitions.
  • Create detailed growth profiles of key players and assess their expansion strategies.

Research Methodology:

  • Establish research goals, questions, and hypotheses.
  • Outline the research design, approach, data collection methods, and sampling strategy.
  • Detail data collection procedures, including primary and secondary sources, instruments, and data cleaning processes.
  • Explain data analysis methods, encompassing statistical tests and qualitative coding.
  • Address study limitations, biases, sources of error, and data constraints.
  • Consider ethical considerations, including informed consent, participant confidentiality, and minimizing harm.

Report Scope:

  • Offer comprehensive market segmentation and revenue estimates across verticals and regions.
  • Highlight key market drivers, restraints, challenges, and opportunities for stakeholders.
  • Enhance stakeholders’ comprehension of competitors and bolster their business positioning.
  • Incorporate competitor ecosystem, new product development, agreements, and acquisitions in the competitive landscape section.

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About Report Ocean:

Report Ocean stands as a preeminent provider of market research reports within the industry. Renowned globally, we are acclaimed for delivering insightful and informative research reports. Our commitment lies in furnishing clients with a comprehensive blend of both quantitative and qualitative research outcomes. As an integral component of our expansive global network and thorough industry coverage, we offer an in-depth reservoir of knowledge that empowers strategic and well-informed business decisions. Our approach integrates cutting-edge technology, advanced analysis tools, and our proprietary research models, all underpinned by years of expertise. This synergy allows us to craft essential details and facts that consistently surpass expectations.

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