Portland, OR -- (SBWIRE) -- 06/13/2018 -- Smart highway incorporates different technologies into highways by utilizing solar energy, improving operation of autonomous cars, and monitoring conditions of roads. It uses information and communication technologies in transport systems, traffic management, and utility management. Photovoltaic pavements have been installed to generate electricity through collection of solar power. In addition, parking lots, driveways, and highways will be will be used for creation of electricity by installing photovoltaic cells. Solar road panels will replace asphalt rocks to generate electricity. Electric wireless charging stations are installed on highways to power electric cars through electromagnetic induction.

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Market Drivers and Restraints:

The global smart highway market is driven by factors such as rise in demand of connected or smart cars, need for sustainable and improved highway infrastructure, and need to more safe and secure roads. On the other hand, continuously developing infrastructure and lack of technology awareness among drivers restrain growth in the industry.

Market Segmentation:

By System
Intelligent traffic management system
Intelligent transport management system
Communication system
Traffic monitoring system

By Service
Consulting services
Operational and maintenance services
Other services

By Deployment type
On premise
On-cloud

By Geography
North America
U.S.
Canada
Mexico

Europe
UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific

LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players:

Key industry players active in the global smart highway market are discussed in the research to help market players and new entrants gain information on market competition along with strategies to be adopted to acquire leading position in the industry. Market players explored in the research are Alcatel Lucent, Huawei, LG CNS, IBM, Kapsch AG, Cisco, Siemens AG, TrafficCom, Schneider Electric, and Xerox Corporation. They have adopted various strategies including expansion, joint ventures, partnerships, mergers & acquisitions, collaborations, and others to strengthen position in the market.

Key Takeaways from the Report:

The study provides a comprehensive analysis of the global smart highway market based on current trends and projections by 2025.
The report offers a detailed information on changing market trends to help industry players gain insights on current scenario and investment feasibility.
The research offers an in-depth analysis of drivers, restraints, and opportunities along with factors that impact the global market.
The study on the global smart highway market offers an extensive information for the historic period and the forecast period along with steps to be taken to gain leading position in the market.
Porter's Five Forces analysis provides information on competitive intensity of the market and outlines potency of buyers and suppliers.