The article cited AMA's Global Smart Roads Market Study explored significant growth with CAGR of 20.3%. According to the report, Increasing Demand for Embedded Sensors for Real Time Updates on Road Conditions is one of the primary growth factors for the market. Demand for Integration of Traffic Control Centers and Route Guidance Systems is also expected to contribute significantly to the Smart Roads market. Overall, Urban Traffic applications of Smart Roads, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models – a trend that will continue in the future.

AMA’s Analyst on the Global Smart Roads Market identified that the demand is rising in many different parts of the world due to "Increasing Government Initiatives and Funding for the Development of Smart Roads ". Furthermore, some recent industry insights like "On 9th Dec 2020, IBM announced innovative new capabilities planned for IBM Watson designed to help scale the use of AI by businesses. Developed by IBM Research, the new capabilities are designed to improve the automation of AI, provide a higher degree of precision in natural language processing, and foster greater trust in outcomes derived from AI predictions." is constantly making the industry dynamic. One of the challenges that industry facing is "Huge Upfront Cost and Regular Maintenance of Smart Roads Can Create Challenges"

The Development, such as On-Premise, is boosting the Smart Roads market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Smart Roads market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Smart Roads market and other related sub-markets covered in the study.

o Key & emerging players in the Smart Roads market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Smart Roads market size is calculated using market estimation process, the Smart Roads market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Smart Roads market size has been validated using both top-down and bottom-up approaches.