A new research report published by Fior Markets with the title E-Highway Technology Market by Component (Software, Hardware, Services), Deployment Mode (On-Premise, Cloud), Technology (Intelligent Management System, Intelligent Transportation Management System, Monitoring System, Communication System, Others), Regions, and Global Forecast 2021-2028.
The global e-highway technology market is expected to grow from USD 29.96 billion in 2020 to USD 99.58 billion by 2028, at a CAGR of 16.2% during the forecast period 2021-2028. Rapid urbanization has resulted in a rise in greenhouse gas (GHG) emissions, resulting in a growing carbon footprint and necessitating the introduction of clean and efficient intelligent transportation technologies. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period from 2021-2028. Emerging APAC economies like India, Indonesia, Vietnam & China, and developed economies like Japan & South Korea are especially lucrative, considering their growth potential. On the other hand, the North America region accounted for the major market share of 30.8% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as large infrastructure projects for repairing & modernizing purposes and facilitating more efficient logistics and supply chain operations.
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Key players in the global e-highway technology market are ALE International, Cisco System Inc., Huawei Technologies Co. Ltd., Honeywell International Inc., Siemens AG, ABB Ltd, AT&T Inc., IBM Corporation, LG CSN, and Schneider Electric SE, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global e-highway technology market.
The component segment consists of software, hardware, and services. Hardware segment dominated the market and held the largest market share of 45.25% in the year 2020. Smart road technologies are being integrated into roads in order to improve the operation of automated vehicles, traffic signals, and street lighting, as well as to track road conditions, traffic volumes, and vehicle speeds. Based on deployment mode the global market has been segmented into on-premise, and cloud. The cloud segment is forecasted to register the highest CAGR of 20.3% during the coming years. On the basis of technology, the e-highway technology market has been divided into intelligent management system, intelligent transportation management system, monitoring system, communication system, and others. Intelligent transportation management system dominated the market and held the largest market share of 31.1% in the year 2020. This can be attributed to the various advantages offered by this technology, including improved road safety, reduced infrastructure damage, traffic management, and traffic data collection.
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About the report:
The global E-Highway Technology market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
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