Smart Highway Market Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

 

Smart Highway Market
Smart Highway Market

The global smart highway market is being driven by an increase in the number of vehicles on the road, an increase in road traffic injuries, and international trade. The market is being driven by the increase in the number of vehicles on the road, the increase in traffic-related injuries, and increased international trade, as well as the demand for better highways, the need to reduce traffic congestion, and governmental initiatives. Aside from smart highway development, smart city projects are expected to drive the market.

Among regions, North America is expected to dominate the global smart highway market during the forecast period. This expansion can be attributed to numerous companies in countries such as Canada and the United States focusing on the production of intelligent road tools. Because road safety is highly valued in these countries, it creates numerous growth opportunities for players in the smart road industry in this region. As a result, the market in North America is expected to grow rapidly.

Furthermore, due to increased urbanisation and industrialization in Asia Pacific's emerging countries, Asia Pacific is expected to witness significant growth in the global smart highway market over the forecast period. According to UN-Habitat, China and India alone are expected to contribute more than 239 and 404 million urban dwellers in the Asia Pacific region to the global urban population. As a result, Asia Pacific is expected to experience strong market growth.

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