|By Business Wire||
|May 15, 2014 10:48 AM EDT||
According to ABI Research, global traffic information revenues are expected to grow from $414 million in 2014 to $675 million in 2019 mainly driven by deployments in developing regions and countries such as China, Brazil, and Russia.
“Main trends in traffic information services for travelers include predictive data, improved granularity and coverage of secondary roads, and free traffic offered by players such as Google. Vendors previously mainly active in North America and Europe have started to expand into developing regions. Recent announcements include INRIX launching traffic information services in Russia with Audi as the first customer and TomTom launching services in Asia (China, Taiwan and Singapore) and Latin America (Brazil),” says VP and practice director Dominique Bonte.
Traffic information also starts to be offered by car OEMs such as Toyota sourcing probe data from its own connected vehicles in Japan as well as governments and cities launching traffic service for citizens. Additionally, a host of local providers are increasingly forming partnerships such as the pan-European V-Traffic RDS-TMC consortium consisting of Mediamobile, Be-Mobile, Trafficmaster, Infoblu, and TrafficNav.
However, traffic data are just one piece of the puzzle. As part of a big push towards Intelligent Transportations Systems, advanced traffic management systems are required consisting of a wide array of components including modelling and simulation tools, traffic monitoring platforms, operations centers, and control systems such as intelligent traffic lights and digital road signage. In a smart cities context, these elements require close integration in cooperation between governments and the private sector to address the rampant urban congestion challenges in a growing number of mega cities across the world. Global traffic management system revenues are expected to grow from $2.2 billion in 2014 to $4.4 billion in 2019 with key suppliers including IBM, Cisco, Siemens, AGT, Kapsch, and PTV.
These findings are part of ABI Research’s Smart Transportation Market Research (https://www.abiresearch.com/market-research/service/intelligent-transportation-systems/) which covers urbanization and mega city trends, cooperative ITS technologies, electric vehicles and charging infrastructure, Vehicle-to-Vehicle and Vehicle-to-Infrastructure, Electronic Toll Collect, and Traffic Management and Information Systems including real-time and predictive traffic information, traffic monitoring and simulation, and traffic control systems.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.
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