Enjoy complimentary customisation on priority with our Enterprise License!
Want a bigger picture? Try a FREE sample of this report now!
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.
According to Technavio’s market research report, the global smart highway construction market will grow rapidly during the forecast period and post a CAGR of more than 93% by 2021. The growing trend towards the adoption of smart cities will drive the growth prospects for the global smart highway construction market throughout the projected period. The increasing need to manage the cities’ assets such as roads, traffic, energy, and water led to the emergence of smart city concept that includes multiple information of communication technology (ICT) and the Internet of things (IoT). Additionally, it also involves expenditure on smart infrastructures such as smart grid and smart highways to ensure sustainable development, which will have a positive influence on the growth of the smart highway construction market.
With the growing focus towards the generation of clean energy through the exposure of sunlight on on roadways, the coming years will witness an increase in the popularity of solar roads in smart highways. Solar roads offer various benefits including the ability to recharge electric vehicles (EVs) anywhere and the potential to reduce GHG emissions and the dependence on fossil fuels. Additionally, solar roads also provide a good return on investment since the energy produced can be utilized to power the nearby villages. With such benefits, the coming years will witness an increase in the adoption of solar roads, which will subsequently, drive the growth of the smart highway construction market.
The global smart highway construction market is characterized by the presence of a number of vendors. With the governments of several countries across the globe focusing on solutions to reduce traffic congestion and road traffic accidents, the market offers significant growth opportunities to the players. Additionally, the rise in urban population that affects the current road infrastructure due to the increasing number of vehicles, will also offer growth opportunities for players in this marketspace. Owing to this increasing demand, the market’s competitive environment will likely intensify during the next few years.
Key vendors in this market are -
Other prominent vendors in the market include ABB, Alcatel-Lucent, Cisco, Colas, Huawei Technologies, IBM, Indra, Kapsch, LG CNS, Schneider Electric, Siemens, Solar Roadways, Studio Roosegaarde, and Xerox.
Get more value with Technavio’s INSIGHTS subscription platform! Gain easy access to all of Technavio’s reports, along with on-demand services. Try the demo
The government funding segment accounted for the major shares and dominated the global smart highway construction market during 2016. A large number of countries are increasingly focusing on the construction of smart highways as a sustainable solution to limit GHG emissions and promote the usage of electric vehicles. Since, the construction of smart highways involves a number of benefits such as shorter trip time, reduced traffic congestion, fewer traffic accidents, and reduced carbon emissions, more countries will increase their funding for the construction of the smart highways during the next few years.
According to this market research and analysis, the smart highway construction market will be dominated by APAC during the next four years. Factors such as the growing number of infrastructural developments in various countries such as India, Australia, and New Zealand, an increase in the number of smart highway projects, and the reduction in traffic congestions and GHG emissions, will stimulate the growth of the smart highway construction market in this region.
Want to dial in on a specific region or segment? We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
Technavio also offers customization on reports based on specific client requirement.
Generally, heavy industry refers to application segments such as construction and demolition, as well as the products used in the manufacturing of engineering equipment. This industry also includes ancillary industries that are related to these application segments. This upcoming market research report on the smart highway construction market is an integral part of the heavy industry sector, which also includes reports for fast-growing segments like construction, engineering tools, unit operations, and many more.
To help clients understand the market space better, Technavio’s market research analysts follow a triangulated research approach of primary and secondary research and also analyze recent market trends, such as the latest technological evolution and the demand for products and services across different geographical areas. Additionally, this market research report on the smart highway construction market also takes into account the growth of similar markets such as the global mini excavators market, which is envisaged to grow at a CAGR of nearly 4% by 2021.
Technavio's industry reports for the heavy industry domain provides actionable insights that can be useful to stakeholders in manufacturing, construction, and government institutions. Our reports also include an analysis of key market trends, drivers, competitors, and the major pain points faced by the major players in the industry.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by source of funding
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Tags: solar roadways, construction equipment, construction materials, construction business, smart highway construction top companies, construction market analyst,
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.