Smart highways consist of advanced digital technologies and networking solutions that help manage traffic flow, enhances road safety, and aid autonomous and connected vehicles. Elements like variable message signs, surveillance cameras, toll collection systems, passenger information displays are installed along highways for efficient traffic monitoring and management. The global Smart Highway Market is estimated to be valued at US$ 52.5 Mn in 2023 and is expected to exhibit a CAGR of 10.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Connected infrastructure is one of the primary drivers of the smart highway market. Installation of devices like routers, sensors and intelligent transportation systems enables real-time data collection and sharing between vehicles and traffic control centers. This helps boost operational efficiency, safety and sustainability of highways. Connected roads facilitate vehicle-to-everything (V2X) communication that allows autonomous vehicles to process traffic information and transportation data from road-side units. As more countries undertake projects to upgrade highways and expressways with latest connectivity solutions, opportunities in the global smart highway market are expected to surge significantly over the coming years.
SWOT Analysis
Strength: Smart highway technologies help improve road safety and reduce accidents by monitoring traffic and road conditions. They also enable efficient traffic management.
Weakness: High initial investment costs associated with deploying smart highway infrastructure. Dependence on advanced connectivity could pose challenges in rural areas.
Opportunity: Growing demand for intelligent transportation systems provides opportunities for technology providers. Developing economies are investing heavily in smart highway projects.
Threats: Cybersecurity threats could compromise smart highway networks. Delays in project timelines and budget overruns pose risks.

Key Takeaways
The global Smart Highway Market Share is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis
The Asia Pacific region dominates the smart highway market currently. Countries like China, India, and South Korea are investing heavily in building intelligent transportation infrastructure. China has the world's largest high-speed national highway network.

Key players operating in the smart highway market are Xerox Corporation, Alcatel-Lucent Enterprise (Nokia Corporation), Siemens AG, Cisco Systems Inc., Schneider Electric SE, IBM Corporation, LG CNS Co. Ltd (LG Electronics Inc.), Indra Sistemas SA, Kapsch AG, Infineon Technologies AG, and Huawei Technologies Co. Ltd. Major technology providers are focusing on integrating advanced connectivity, cloud, and edge computing solutions to enable smart highways.

For more details on the report, Read-
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