Report ID: SQMIG60H2001
Report ID:
SQMIG60H2001 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
Smart Highway Market size was valued at USD 37.56 Billion in 2021 and is poised to grow from USD 43.23 Billion in 2022 to USD 106.21 Billion by 2030, at a CAGR of 16.7% during the forecast period (2024-2031).
The global smart highway market is driven by the increasing adoption of intelligent transportation systems and the growing need for efficient and safe road infrastructure. One of the major drivers of the smart highway market is the rising demand for effective traffic management solutions. With the rapid urbanisation and increasing vehicle population in many regions, traffic congestion has become a significant challenge. Smart highways offer advanced traffic monitoring and control systems, including real-time traffic information, intelligent signalling, and adaptive traffic management, which help reduce congestion and improve traffic flow efficiency. Governments and transportation authorities worldwide are investing in smart highway projects to alleviate traffic-related issues, thereby fueling the market growth.
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Report ID: SQMIG60H2001