Demand for Efficient Highway Traffic Management to Drive the Intelligent Highway Technologies Market
Against a backdrop of growing traffic volume, escalating congestion and pollution levels, governments, road authorities and road operators are focusing on upgrading the highway and roadway infrastructure. In addition to building wider, multi-lane roads with high-quality materials and efficient lane markings, road infrastructure programs in several parts of the world are increasingly relying on advanced technologies and solutions that help in efficiently managing the flow of traffic on highways. Road authorities and operators are increasingly implementing Intelligent Highway Technologies, which integrate advanced Information Communication Technology (ICT) solutions for on-the-highway and/or in-vehicle deployment. Intelligent Highway Technologies communicate with road authorities and/or motorists to ensure optimization of traffic flow. Benefits such as lower emissions, reduced travel time, fuel efficiency, and higher travel safety are generating significant opportunities for intelligent highway technologies.
The market for intelligent highway technologies is poised to gain from growing budget allocations for new road construction projects and also for upgrading the existing road infrastructure in several countries across the world. Currently, various advanced technologies and solutions such as Electronic Toll Collection (ETC); GPS/GNSS, Automatic Number Plate Recognition (ANPR), Lane Departure Warning (LDW), RFID, and Incident Detection systems are being integrated into intelligent highway programs. In addition, real-time monitoring & communication systems including video surveillance, weather management, voice/video/data communication solutions, and signage displays, are actively being pursued by road infrastructure developers in their intelligent highway programs.
Electronic Toll Collection (ETC) systems with their ability to infuse additional reliability in toll collection and generate a consistent flow of revenues to improve the profitability for road operators, are especially gaining priority among highway developers and operators. Global automakers’ efforts to integrate advanced vehicle features such as intelligent driver assistance systems, and in-vehicle communication & infotainment systems are further poised to drive the demand for intelligent highway technologies. Especially, the preference for technologies that communicate with the road such as in-vehicle GPS/GNSS navigation systems, LDW systems and similar technologies is expected to drive the growth momentum in the market.
As stated by the new market research report on Intelligent Highway Technologies, the United States represents the largest regional market, while Asia-Pacific ranks as the fastest growing market with a projected CAGR of 20.4 % over the analysis period. China along with other developing nations in Asia-Pacific, including South Korea, Taiwan, India, Thailand, and Malaysia among others, will spur future growth in the market.
Major players in the market include Alcatel-Lucent, Cisco Systems Inc., Indra Sistemas S.A., Intelligent Highway Solutions Inc., Kapsch AG, LG CNS, Siemens AG and Schneider Electric SE among others.
The research report titled “Intelligent Highway Technologies: A Global Strategic Business Report,” announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections in US$ for geographic markets such as US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, South Korea and Rest of Asia-Pacific), Latin America, and Rest of World.
For more details about this comprehensive market research report, please click here
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