The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the smart roads market. The scope of this report covers the smart roads market by its major segments, which include the types, applications, and the major geographic regions.
With the increase in automated vehicles and traffic worldwide, there is also an increase in the risk of uncertainties. Smart road is an efficient solution for this problem.
Smart roads enable easy driving for the driver as it guides him about the road. It even gives the information about the road that the driver cannot see.
It signals the vehicle about any possible incident likely to happen. Smart roads are equipped with advanced sensors and technological equipment that assists the driver and makes driving more efficient and effortless.
This report studies the current and future aspects of the smart roads market.
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KEY PREMIUM INDUSTRY INSIGHTS
- Rise in automated vehicles and a discrepancy in traffic norms is increasing the chances of road accidents. Drivers need a specialized technology that can not only guide them about the road but also about the vehicle. This will make their driving experience more effortless.
- Smart roads offer the absolute benefit of safe driving. Governments in various countries are taking efforts to make road driving safer, hence creating new growth opportunities for the smart roads market. Developing countries are also taking efforts to minimize road accidents and are using smart road options to cater to this problem.
The global smart roads market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. The North America region holds the highest market share and is the largest revenue contributor for the smart roads market.
The region is dominant because of advancement in technology. Countries like U.S. and Canada are advancing in the field of technology and manufacturing smart road equipment.
They pay more attention to road safety and are therefore promoting the market growth. Next in line is the Europe region which is witnessing a rapid market growth during the forecasted period due to awareness about road safety measures.
Asia-Pacific region is also growing steadily because of increased efforts by government to make roads safer for driving and reduce incidences of road accidents. Countries like China and Japan are paying more attention to road safety and working on creating smart roads.
This report analyzes the smart roads market by the following segments:
- Smart Roads Market, by Technology
- Transportation and Communication
- Traffic Management System
- Smart Roads Market, by Sensor
- Strain Gauges
- Weigh-in-motion Devices
- Temperature Sensors
- Smart Roads Market, by Deployment
KEY MARKET PLAYERS
Key players in the smart roads market include:
- Alcatel Lucent
- Kapsch AG
- Indra Sistemas, S.A.
- LG CNS
- Siemens AG
- Kapsch TrafficCom
- Xerox Corporation
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