European smart highway market is anticipated to grow at a CAGR of 17.4% during the forecast period (2021-2027). The growing adoption of connected cars, autonomous cars, GPS navigation, route optimization apps and ride-hailing services are driving European smart highway market. Looking towards, the benefits of smart transportation, state governments and transport authorities are investing in smart road technologies. For instance, the Ministry of Economic Development and Technology of Slovenia has invested $371.2 million in V2I Smart Highway project that offers a deployable real-time communication between vehicles and infrastructure, a new addition to the world of intelligent transportation systems (ITS).
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The system keeps drivers informed of the state of the road in real time and allows reactions that lead to less congestion, less accidents, less stops and spinning, faster travel times and cleaner air; therefore, a comfortable, safe and economical driving experience. In addition to this, a real-time working communication can be developed between V2I traffic process server and V2I unit; V2I unit and V2I traffic process server; V2I traffic process server and administrative control centre; and V2I units and V2X devices in vehicles. The project has been completed in September 2019. The growing funding for development of smart highways to improve traffic management is anticipated to drive the growth of the European smart highway market.
A Full Report of European Smart Highway Market is Available at: https://www.omrglobal.com/industry-reports/europe-smart-highway-market
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Technology
o By Deployment Model
o By Service
- Competitive Landscape- ABB Ltd., 3M Co., AT & T Inc., Cisco Systems Inc., IBM Corp.
European Smart Highway Market Report Segment
By Technology
- Intelligent Transportation Management System
- Intelligent Traffic Management System
- Communication System
- Monitoring System
By Deployment Model
- On-Premise
- Cloud
By Service
- Consultancy Services
- Maintenance & Operational Services
- Managed Services
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
