Smart Highway Construction Market Business Insights, Trends And Forecast To 2030
PORTLAND, OR, UNITED STATES, June 20, 2023/EINPresswire.com/ — Smart highways consist of sensors, smart computing technologies, and smart monitoring systems, which are all integrated into a single monitoring unit in smart motorways. As a result, solutions including traffic control, communication, and transportation management are becoming more popular. Vendors of traffic technology are offering innovative modifications to minimize rising traffic, with roads being one of the most appealing areas. The countries with inefficient systems of transportation and logistics face many challenges. Thus, governments of many countries are investing in developing smart highways. As trade enables overall economic growth for any country, smart highways are gaining momentum to propel trading activities.
The global smart highway construction market size was valued at $20,172.0 million in 2020, and is projected to reach $1,04,777.0 million by 2030, registering a CAGR of 17.3% from 2021 to 2030.
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Top Players:
Key companies profiled in the smart highway construction market report include Transstroy, Alcatel-Lucent Enterprise, Huawei Technologies Co. Ltd., VINCI Construction, IBM, Heijmans N.V., ABB Ltd., Cisco Systems, Inc., Colas, Nippon Koei Co. Ltd.
Many players in smart highway construction market are using various strategic moves such as agreement, collaboration, partnership, and product development to strengthen their position in smart highway construction market. For instance, in August 2021, Colas agreed to purchase Destia, a key participant in Finland’s road and rail industries. In Finland, the Destia Group is a prominent participant in road, rail, and energy infrastructure. Such mergers and agreements provide lucrative growth opportunities for the smart highway construction market growth.
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However, owing lockdowns imposed in countries such as China, the U.S., and India due to coronavirus, numerous manufacturers in the global smart highway construction market had to halt their business production. This disruption has led to a direct impact on sales of smart highway construction equipment. However, it is expected that reopening of production facilities and introduction of coronavirus vaccines would lead to reopening of smart highway construction firms.
Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging smart highway construction market trends and dynamics.
• Depending on solution, the monitoring & detection systems segment dominated the smart highway construction market, in terms of revenue in 2020.
• By technology, the smart transportation system segment registered highest revenue in 2020.
• On-premise sector is projected to register highest growth rate in the coming years.
• The key players within the smart highway construction market are profiled in this report, and their strategies are analyzed thoroughly, which help
understand competitive outlook of the smart highway construction industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.
• In-depth smart highway construction market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
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Rajneesh Singh is a journalist at Asian News, specializing in entertainment, culture, international affairs, and financial technology. With a keen eye for the latest trends and developments, he delivers fresh, insightful perspectives to his audience. Rajneesh’s passion for storytelling and thorough reporting has established him as a trusted voice in the industry.
