Smart Highway Construction Market Report 2024

This Smart Highway Construction market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The smart highway construction market size has grown rapidly in recent years. It will grow from $26.16 billion in 2023 to $30.26 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth observed during the historic period can be attributed to increasing government initiatives, rising urbanization, growing traffic congestion, heightened environmental concerns, and increased investments in infrastructure.

The smart highway construction market size is expected to see rapid growth in the next few years. It will grow to $54.46 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The anticipated growth during the forecast period can be attributed to the integration of smart technologies, increasing demand for efficiency, government funding, rising traffic volumes, and upgrades to urban infrastructure. Key trends during this period include the growing use of AI, increased adoption of green technologies, rising demand for smart infrastructure, expanding applications of IoT, and a heightened focus on sustainability.

The growing number of vehicles is expected to drive the expansion of the smart highway construction market in the coming years. The rise in vehicle adoption is fueled by factors such as increasing urbanization, higher disposable incomes, and advancements in automotive technology. Smart highways enhance vehicle connectivity and data sharing, enabling real-time traffic management and improved navigation. For example, in May 2023, a report from the European Automobile Manufacturers Association, a Belgium-based organization, revealed that global motor vehicle production reached 85.4 million units in 2022. As a result, the rising number of vehicles is propelling the growth of the smart highway construction market.

Key players in the smart highway construction market are concentrating on strategic collaborations to drive innovation and improve infrastructure efficiency. These collaborations involve partnerships between organizations to combine resources and expertise for mutual benefit and to foster innovation. For instance, in May 2023, Huawei Technologies Co. Ltd., a China-based provider of information and communications technology (ICT) infrastructure and smart devices, launched the APAC Smart Road, Waterway, and Port Alliance at its Asia Pacific Partners event. This alliance aims to boost collaboration among partners in the Asia-Pacific region to develop and deploy intelligent transportation solutions (ITS) that support smart highway initiatives. These solutions include digital technologies for traffic management, real-time monitoring, and congestion control, which are crucial for smart highway systems. The goal is to build competitive infrastructure that promotes national development, drives economic growth, and enhances the efficiency of transportation networks.

In May 2024, Safety21 S.p.A., an Italy-based provider of cloud-based platforms and outsourcing services, acquired Velocar S.r.l. for an undisclosed amount. This acquisition is expected to strengthen Safety21’s capacity to deliver advanced digital services and AI-driven solutions to public administrations, focusing on improving road safety management through innovative technologies and data analysis. Velocar S.r.l., based in Italy, specializes in software and IoT solutions for road safety and smart mobility.

Major companies operating in the smart highway construction market are Huawei Technologies Co. Ltd., International Business Machines Corporation, Panasonic Corporation, Cisco Systems Inc., Continental Engineering AG, Honeywell International Inc, SAP SE, ABB Ltd, Colas Inc, Indra Incorporation, Heijmans, Costain Group plc, Alcatel-Lucent Inc, Swarco AG, Nippon Koei Group, VINCI Construction, Miovision Inc, RoadBotics Inc, WiTricity Inc, HAAS Alert Inc., Prisma Photonics, Robotiz3d Inc, Urban SDK.

North America was the largest region in the smart highway construction market in 2023. The regions covered in the smart highway construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the smart highway construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Smart highway construction involves integrating advanced technologies and innovative practices into the design, development, and management of highways to enhance safety, efficiency, and sustainability. It utilizes digital tools, sensors, and data analytics to improve various aspects of highway infrastructure.

The main types of smart highway construction include photovoltaic pavement, wireless vehicle charging, frost protection and melting of snow and ice, road markings, and other technologies. Photovoltaic pavement consists of solar panels embedded in road surfaces that generate electricity from sunlight while also serving as functional pavement. The energy sources for these systems include solar, wind, and vibration, and they are typically funded through government initiatives and other sources.

The smart highway construction market research report is one of a series of new reports that provides smart highway construction market statistics, including the smart highway construction industry's global market size, regional shares, competitors with a smart highway construction market share, detailed smart highway construction market segments, market trends and opportunities, and any further data you may need to thrive in the smart highway construction industry. This smart highway construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart highway construction market consists of revenues earned by entities by providing services such as data management and analysis, training and capacity building, compliance, and regulatory services. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart highway construction market also includes sales of adaptive traffic signals, traffic cameras and sensors, pavement with embedded sensors, heat-absorbing or reflective materials, and vehicle-to-infrastructure (v2i) communication systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.