North American smart highway market is predicted to grow considerably at a CAGR of 15.9% during the forecast period (2021-2027). Technological advancement in smart highway technologies, rising need of such technologies to reduce road accidents, high penetration of smart technologies such as AI and IoT are some of the key factors driving the growth of North American smart highway market. According to the study of National Highway Traffic Safety Administration, the economic cost of all road accidents in the US amounts to $871 billion per annum. Additionally, the North American countries are experiencing ever increasing maintenance costs to keep the road network in a good and safe condition. 

Therefore, North American countries are focusing on development of smart highways. For instance, in February 2018, the Minnesota Department of Transportation (MnDOT) has selected WSP USA to design Minnesota’s first smart road, which would transform a major state highway west of Minneapolis into a road capable of testing and deploying numerous connected-vehicle applications.

North American smart highway market is segmented based on technology, deployment type and service. Based on technology, the smart highway market is segmented into intelligent traffic management system, intelligent transportation management system, monitoring system, and communication system. Based on the deployment type, the market is segmented into on-premise and cloud. Based on service, the market is segmented into consultancy service, maintenance & operation service, and managed service.  

Cisco Systems Inc., IBM Corp., ABB Ltd., 3M Co., and AT & T Inc., among others are some of the key players operating in the North American smart highway market. These market players are adopting various growth strategies such as technological advancement, partnerships, collaborations, mergers & acquisitions among others to sustain a strong position in the market. 

Research Methodology

The market study of the North American smart highway market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, researchpapers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North American Smart highway Market Research and Analysis by Technology
2. North American Smart highway Market Research and Analysis by Deployment Model
3. North American Smart highway Market Research and Analysis by Service

The Report Covers

• Comprehensive research methodology of the North American smart highway market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American smart highway market.
• Insights about market determinants that are stimulating the North American smart highway market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.