Smart Roads Market Research Report by Forecast to 2023
Pune, India -- (SBWIRE) -- 12/26/2018 -- Market Highlights:
With technology, the world becomes smarter. However, the introduction of automated vehicles has increased the risk of on-road accidents by such vehicles. Smart roads guide the drivers of vehicles against any object that is in front of the vehicle, which the driver is not able to see. The sensors deployed give signals to the vehicle about any possible incident that could happen and the damage that might occur to the vehicle and to the driver. Heavy investment by major players and government initiatives towards the promotion of the good infrastructure is one of the major drivers of the market.
A major trend in the Smart Roads Market is the electrically connected smart roads. These roads along with related technologies try to reduce the vehicle emissions by identifying the best and shortest route for any vehicle to reach its destination. Additionally, the rise in the global traffic marks and need for a better traffic management system creating an opportunity for the smart roads market to develop an advanced infrastructure for the connected vehicles and roadside assistance.
Many integrated systems are applied in the smart roads such as vehicle infrastructure integration, structural health monitoring for roads (highways and state roads), intelligent transportation system or connected vehicle system, photovoltaic pavement, wireless vehicle charging system, and road markings. Photovoltaic pavements are a type of pavement that generate electricity by gathering solar radiations with photovoltaic. These photovoltaic materials can be used in parking lots, footpaths, driveways, streets and highways. Smart roads are a crucial component for a smart city to be operational.
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Major Key Players:
- Alcatel Lucent (France)
- Kapsch AG (Austria)
- Indra Sistemas
- S.A. (Madrid)
- LG CNS (South Korea)
- Siemens AG (Germany)
- Cisco (U.S.)
- Kapsch TrafficCom (Austria)
- Xerox Corporation (U.S.)
- Huawei (China)
- On the basis of technology, the market is segmented into transportation and communication system (ANPR- Automatic Number Plate Recognition, Lane warning/keeping systems, Wireless Radio Communication) and Traffic Management System (GPS and Advanced Traffic Management System).
- On the basis of the sensor, the market is segmented into anemometers, strain gauges, accelerometers, weigh-in-motion devices, temperature sensors among others.
- On the basis of deployment, the market is segmented into on-premise and on-cloud.
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North America is the leading region in global smart roads market. Industrialization and various investment of the local and central government bodies in the North American region and the presence of technologically advanced countries such as the U.S. and Canada are providing enterprises with a competitive advantage over other regions. Europe, on the other hand, holds the second largest share of the global smart roads market. This stronghold over the market is due to the presence of several developed countries such as Germany, France, Italy, the U.K. and the Netherlands in the region.
On the other hand, Asia Pacific region is expected to emerge as the fastest growing market among all the regions during the forecast period. The market is majorly driven by the various initiative of the government of Asian countries such as China, Japan, and India. Additionally, China and India are one of the largest potential markets where the enterprises are willing to make investment leading to heavy demand for smart road components. In the last ten years, the government of these countries has announced a various collaboration with the multinational companies for upgrading their current infrastructure, which includes roads as well. The companies are working closely with the local bodies of the government for the development and up-gradation of the instructor.
- Smart Roads Market services providers
- IT providers
- Smart components manufacturers
- Government agencies
- Cloud Service providers
- Auto components manufacturers
- Value-added resellers
- Construction builders
- Research firms
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research objective
1.3 Market Structure
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