market statistics

     Rise in the number of vehicles among emerging countries.

There is an increase in the number of vehicles being sold every year. The unsatisfactory infrastructure for transportation in many countries is the primary factor for the rise in vehicle sales. Also, there is an increase in disposable income of the people with globalization and urbanization. According to International Organization of Motor Vehicle Manufacturers, about 95 million of vehicles were sold in 2018 as that of 75 million were sold in 2010. However, this increase in the number of vehicles is causing heavy traffic, especially in urban areas. Consequently, there is a rise in demand for smart highways and roads that monitor traffic congestion on every road and diverts the traffic accordingly to have a faster and smoother travel. https://www.alliedmarketresearch.com/smart-highway-market

According World Health Organization (WHO), 1.35 million people approximately die each year from road traffic crashes. And about 20 – 50 million people suffer non-fatal injuries, with many incurring a disability. As a result, there is an urgency to reduce the number of road traffic injuries and smart highways is considered as one of the best solutions to this problem. The various components of smart highways such as traffic management systems, smart lighting systems, and speed monitoring systems are developed to reduce road traffic injuries. Hence, increase in road traffic injuries fuels the growth of the smart highway market. The 2030 Agenda for Sustainable Development set by the United Nations has an ambitious target of halving the global number of road traffic injuries by 2020. https://www.alliedmarketresearch.com/smart-highway-market