Global Strain Gauges Smart Roads Market, By Technology (Transportation and Communication Systems, Traffic Management System), Deployment (On-Premises, On-Cloud) – Industry Trends and Forecast to 2029.
Strain Gauges Smart Roads Market Analysis and Size
As aging infrastructure becomes progressively prone to failure, this is all due to invisible internal and external forces. Concerns arise over the loss of human life and the possibility of massive property damage. So, the strain gauges smart roads is to measure stress and its variation with time, quantitatively indirectly. The development of the infrastructure in developing markets is likely to contribute to the growth of the strain gauges smart road market in upcoming years.
Data Bridge Market Research analyses that the Strain gauges smart roads market was valued at USD 41793.2 million in 2021 and is expected to reach USD 180,904.63 million by 2029, registering a CAGR of 20.10% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Strain Gauges Smart Roads Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Technology (Transportation and Communication Systems, Traffic Management System), Deployment (On-Premises, On-Cloud)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Schneider Electric (France), IBM (U.S.), Intel Corporation (U.S.), General Electric (U.S.), Accenture (Ireland), Thales Group (France), ABB (Switzerland), AT&T Intellectual Property (U.S.), Honeywell International Inc (U.S.), Infineon Technologies AG (Germany), DNV GL (Norway), ALE International (France), Kapsch TrafficCom AG (Austria), Indra (Spain), LG CNS (South Korea), Siemens (Germany), Cisco (U.S.), Xerox Corporation (U.S.), Huawei Technologies Co., Ltd. (China)
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Market Opportunities
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Market Definition
A strain gauge is a type of device which outputs a voltage relative proportional to an applied weight, force, pressure or tension. When the force changes, the resistance within the strain gauge also changes, allowing the direct measurement of the signal that is proportional to the force. As a result of substantial advancement of computer technologies, such as smart vehicle systems and intelligent traffic technology have improved the overall quality of transportation and roads all over the globe.
Global Strain Gauges Smart Roads Market Dynamics
Drivers
- Increasing introduction of automated vehicles
The growing introduction of automated vehicles has augmented the risk of unpredictability in the smarter world so the smart roads are the addressed solutions for these uncertainties. Strain gauges smart roads are considered the future roads which help drivers understand the incidents happening on the roads such as repair situations and traffic congestion, breakdowns in advance. Strain gauges are used to monitor the technologically advanced wind direction and speed and alert the suitable maintenance department for any uncertainties prior to their occurrence. The increasing introduction of automated vehicles is expected to drive the growth rate of the strain gauges smart roads market during the forecast period.
- Increasing need of strain gauges smart roads due to several issues
The growing need for sustainable and dependable roadways and the increasing necessity for traffic congestion reduction are some primary factors expected to drive the growth of the strain gauges smart roads worldwide. The demand for strain gauges smart roads has substantially increased due to growing desire for healthier, efficient, and less time-consuming transportation. The increasing public awareness regarding the advantages of strain gauges smart roads is also helping impetus this industry considerably during the forecast period.
Moreover, growing adoption of sensor technology, increasing levels of investment by market players for the development of improved and advanced infrastructure are anticipated to boost the growth of the strain gauges smart roads market. Also, increasing introduction of automated vehicles and rising trends of electrically connected smart roads are other major important factors that will be expected to uplift the market growth during the forecast period of 2022-2029.
Opportunities
- Increasing investments and growing adoption of advanced technology
Governments are focusing on building infrastructure, which is a major aspect of societal evolution and economic growth worldwide. While governments in developed economies are investing mainly for infrastructure upgrades and replacement, and in developing nations, investments focus on creating new infrastructure. The expansion of policy measures, the rising need for business travel, and the growing popularity of smart vehicles are all anticipated to contribute to the growth of the strain gauges smart roads market in upcoming years. Also, installing strain gauges help engineers to know about new concrete when it is ready to take on heavy traffic loads. With the help of this information, the engineers can prevent tiny stress cracks which lead to expensive repairs if roads are opened prematurely. Also, fewer repair and maintenance projects to repair or replace the concrete will reduce the traffic bottlenecks, leading to preventable road work. These are some factor which are anticipated to have a favorable impact on the demand for strain gauges smart roads in upcoming years
Moreover, the growing global traffic marks with the increasing need of better traffic management system will also generate numerous opportunities which will boost the growth of the strain gauges smart roads during forecast period.
Restraints/ Challenges
- Issues associated with strain gauges smart roads market
Unwilling to adopt new ways of transportation as well as underdeveloped infrastructure are some major factors acting as market restraints for the demand of strain gauges smart roads and might hinder the growth of the strain gauges smart roads market globally during the forecast period of 2022-2029.
Furthermore, the increasing environmental impact will become the major challenge for the growth of the strain gauges smart roads market.
This strain gauges smart roads market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the strain gauges smart roads market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Strain Gauges Smart Roads Market Scope
The strain gauges smart roads market is segmented on the basis of technology and deployment. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Transportation and Communication Systems
- Traffic Management System
- Advanced Traffic Management
- GPS
Deployment
- On-Premises
- On-Cloud
Strain Gauges Smart Roads Market Regional Analysis/Insights
The strain gauges smart roads market is analysed and market size insights and trends are provided by country, technology and deployment as referenced above.
The countries covered in the strain gauges smart roads market report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the strain gauges smart roads market in terms of revenue growth and market share due to availability of smart road equipment. Canada and The U.S., will lead the North America strain gauges smart roads market due to the prevalence of several manufacturing companies in this region.
Asia-Pacific is projected to be the fastest developing region during the forecast period of 2022-2029 due to the rising number of smart road projects. Japan and china will expect to grow in the Asia-Pacific strain gauges smart roads market due to the increasing attention to the road safety among people in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Strain Gauges Smart Roads Market Share Analysis
The strain gauges smart roads market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to strain gauges smart roads market.
Some of the major players operating in the strain gauges smart roads market are:
- Schneider Electric (France)
- IBM (U.S.)
- Intel Corporation (U.S.)
- General Electric (U.S.)
- Accenture (Ireland)
- Thales Group (France)
- ABB (Switzerland)
- AT&T Intellectual Property (U.S.)
- Honeywell International Inc. (U.S.)
- Infineon Technologies AG (Germany)
- DNV GL (Norway)
- ALE International (France)
- Kapsch TrafficCom AG (Austria)
- Indra (Spain)
- LG CNS (South Korea)
- Siemens (Germany)
- Cisco (U.S.)
- Xerox Corporation (U.S.)
- Huawei Technologies Co., Ltd. (China)
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