Smart Highway Market Size & Share to Surpass $84.6 Billion by 2030 | Vantage Mar… – Press Release


WASHINGTON, Aug. 16, 2023 (GLOBE NEWSWIRE) — As per Vantage Market Research, the Global Smart Highways Market has steadily grown over the years due to the significance of intelligent transportation systems and technical breakthroughs. Effective transportation solutions are especially needed in developed nations like the United States and developing nations, with greater emphasis on enhancing transportation safety and efficiency while saving money. This emphasis has raised interest in smart motorways as a cutting-edge and practical approach to enhance safety, lessen congestion, and improve traffic flow. Smart Highways gather data on traffic conditions using various technologies, including sensors, cameras, and radar, and then utilize that data to alter traffic signals and other infrastructure in real-time.

According to Vantage Market Research, the global Smart Highway Market is estimated to be valued at USD 84.6 Billion by 2030 and is expected to exhibit a CAGR of 18.9% from 2023 to 2030. The Smart Highway market grew to USD 25.2 Billion in 2022.

The Smart Highway market greatly benefits the transportation industry, especially during heavy traffic and accidents like the COVID-19 epidemic. Because of Smart Highways’s advancement of intelligent transportation systems (ITS) might go on a new path. Researchers can examine creative and useful ideas using information on traffic conditions gathered by sensors and other technology. Since the market for Smart Highways has grown, efficiency, traffic flow, and the overall state of transportation have all improved, particularly in lowering congestion and accidents.

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Key Highlights

  • By Technology, the Intelligent Traffic Management Systems segment will increase the Market from 2023 to 2030.
  • By Display, the Variable Message Signs segment dominated the largest market share globally…