Intelligent Highway System Market Size, Share, Value and Forecast 2032

Intelligent Highway System Market Insights

According to Zion Market Research, the global Intelligent Highway System Market was worth USD 25.48 Billion in 2023. The market is forecast to reach USD 61.27 Billion by 2032, growing at a compound annual growth rate (CAGR) of 10.24% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Intelligent Highway System Market industry over the next decade.

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Global Intelligent Highway System Market: Overview

Intelligent Highway System is an advanced application that offers innovative services relating to different modes of transport and traffic management and enables users to be better informed and make safer, more co-ordinate, and smarter use of transport network. It reduces the travel time of commuters as well as enhances their safety and comfort. It gives regular information to daily commuters about public issues, bus timings, seat availability, the current location of the bus, time is taken to reach a particular destination and the density of passengers inside the bus.

The entrance of new players in the Intelligent Highway System market is also set to propel the market growth. For instance, in July 2017, IBM declared the rollout of 2 new security testing practice regions aimed on the Internet of Things (IoT) and automotive security. The new services will be set up through an elite group of researchers from IBM X-Force Red aimed on testing backend apps, processes, and physical hardware employed for the management of smart systems and to control access, boosting the intelligent highway system market.

The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand of auto parts of the vehicles. The market would remain bullish in upcoming year.  The significant decrease in the global Intelligent Highway System market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Intelligent Highway System Market: Growth Factors

The major factor towering the development of intelligent highway system market is incessantly growing requirement for safer and better highways. Since there are a number of road accidents occurring, the government is also taking measures to deal with this issue. On the other hand, in developing nations, deployment of smart infrastructure to replace the older one is a huge task and does need a big investment. This hampers the development of the global intelligent highway system market.

Nevertheless, many private firms are surfacing to make investments in infra projects in association with government. This will assist to setup enhanced infrastructure at a quicker speed.

Intelligent Highway System Market: Segment Analysis Preview

On the basis of technology the intelligent highway system market is divided as intelligent traffic management system, intelligent transportation management system, monitoring system, and communication system. In the technology section, the intelligent traffic management system is expected to develop at a significant rate due to stringent government rules all over the areas

Based on service, the intelligent highway system market is additionally segmented into operation & maintenance service, managed service, and consultancy service. The intelligent highway system market for managed service is likely to develop at a noteworthy rate.

Intelligent Highway System Market: Report Scope

Intelligent Highway System Market: Regional Analysis Preview

Asia Pacific area includes developing nations such as India and China. Recently the government has developed stringent rules in these regions for better and safer highways to slash down a number of road accidents, boosting the intelligent highway system market.

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Intelligent Highway System Market: Players & Competitive Landscape

The major players operating Intelligent Highway System market are

• Alcatel-Lucent
• Indra
• Siemens AG
• Kapsch AG
• LG CSN
• CISCO Systems
• Schneider Electric
• International Business Machine (IBM)
• Xerox Corporation
• Huawei Technologies Co. Ltd

The global Intelligent Highway System market is segmented as follows:

By Technology

• Intelligent Transportation Management System
• Intelligent Traffic Management System
• Communication System
• Monitoring System

By Services     

• Consultancy Service
• Maintenance and Operation Service
• Managed Service

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa