Global Smart Highway Construction Market 2017-2021

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Overview of the global smart highway construction market

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.

Competitive landscape and key vendors

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 -

• Continental Engineering
• Heijmans
• Nippon Koei
• Transstroy
• VINCI Construction

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.

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Segmentation by source of funding and analysis of the smart highway construction market

• Government funding
• Other funding

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.

Segmentation by geography and analysis of the smart highway construction market

• Americas
• APAC
• EMEA

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.

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global smart highway construction market?
• What are the key market trends impacting the growth of the global smart highway construction market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart highway construction market?
• What are the market opportunities and threats faced by the vendors in the global smart highway construction market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global smart highway construction market?

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.