Smart Roads Global Market Overview:
With technology, the world becomes smarter. However, the introduction of automated vehicles has increased the risk of on-road accidents by such vehicles. Smart roads guide the drivers of vehicles against any object that is in front of the vehicle, which the driver is not able to see. The sensors deployed give signals to the vehicle about any possible incident that could happen and the damage that might occur to the vehicle and to the driver. Heavy investment by major players and government initiatives towards the promotion of the good infrastructure is one of the major drivers of the market. A major trend in the smart roads market is the electrically connected smart roads. These roads along with related technologies try to reduce the vehicle emissions by identifying the best and shortest route for any vehicle to reach its destination. Additionally, the rise in the global traffic marks and need for a better traffic management system creating an opportunity for the smart roads market to develop an advanced infrastructure for the connected vehicles and roadside assistance.
Many integrated systems are applied in the smart roads such as vehicle infrastructure integration, structural health monitoring for roads (highways and state roads), intelligent transportation system or connected vehicle system, photovoltaic pavement, wireless vehicle charging system, and road markings. Photovoltaic pavements are a type of pavement that generate electricity by gathering solar radiations with photovoltaic. These photovoltaic materials can be used in parking lots, footpaths, driveways, streets and highways. Smart roads are a crucial component for a smart city to be operational.

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Major Key Players:
Alcatel Lucent (France), Kapsch AG (Austria), Indra Sistemas, S.A. (Madrid), LG CNS (South Korea), Siemens AG (Germany), Cisco (U.S.), Kapsch TrafficCom (Austria), Xerox Corporation (U.S.), Huawei (China) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global smart roads market. There are various factors which is driving the market of smart roads market. Heavy investment by the key companies and government initiatives towards the promotion of the good infrastructure are some of major driving factors.

Industry News:

July, 2017, Alcatel-Lucent Enterprise said that India will grow faster than any other market in the Asia-Pacific region. The company is collaborating with the various companies and government bodies for advancement in various industries including smart cities and smart roads. For the development of smart cities project, the company have collaborated with Nokia where both the companies will be working towards single aim of developing smart cities concept into reality. Huge potential in the infrastructure sector around the world is also one of the major reason why Alcatel-Lucent Enterprise in making collaboration with the other companies.

January, 2017, Kapsch TrafficCom AG and Fluidtime Data Services GmbH (Fluidtime) have announced they are joining forces in the area of integrated mobility solutions, with Kapsch buying a 75% stake in Fluidtime. Kapsch says the acquisition of Fluidtime strengthens its position to act as a platform- and service provider for forthcoming Mobility-as-a-Service (MaaS) schemes for cities, corporations and transport agencies. According to Kapsch, Fluidtime mobility platform provides urban travellers with real-time information about transport options and multimodal routes.

Smart Roads Global Market - Segmentation
Segmentation by Technology: Transportation and communication systems (ANPR- Automatic Number Plate Recognition, Lane warning/keeping systems, Wireless Radio Communication), Traffic Management System (GPS and Advanced Traffic Management System)

Segmentation by Sensor: Anemometers, strain gauges, accelerometers, weigh-in-motion devices, temperature sensors among others

Segmentation by Deployment: On-Premise & On-Cloud

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Smart Roads Global Market - Regional Analysis
North America is dominating the market of smart roads market. Industrialization and investment of the local bodies in North American countries and presence of technologically advanced countries such as U.S. and Canada in the region gives a competitive advantage to the North America over other regions. Whereas Europe stands as second largest market of smart roads. Presence of several developed countries such as Germany, France, Italy, U.K. and Netherlands in the region is helping the market of smart roads in the Europe region. On the other hand, Asia-Pacific region has emerged as fastest growing market among all the regions.

The market is being driven by the various initiative of government of Asian countries such as China, Japan and India. China and India are also one of the largest potential market where the companies are making investment leading to heavy demand for smart road components. In the last ten years, the government of these countries have announced various collaboration with the multinational companies for upgrading their current infrastructure which includes roads as well. The companies are working closely with the local bodies of the government for the development and upgradation of the instructor.

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