Real-Time Traffic Information Providers in the US - Industry Market Research Report

Real-Time Traffic Information Providers in the US - Industry Market Research Report

Real-Time Traffic Information Providers in the US

Every year, traffic costs the US economy about $100 billion, equivalent to the entire cost of engineering and building NASA's Artemis moon rocket. While traffic software cannot resolve traffic, many believe the $5.3 billion in revenue traffic software engineers are anticipated to receive in 2023 is a small price to pay for the economy literally moving more quickly. Traffic information systems take in a massive variety of data from phones, cameras, car manufacturers, event planners, civil engineers, and other traffic companies; this data is then fed into computer systems trained on the provider's coverage area. Traffic data can subsequently be sold to navigation apps, governments, or even the companies that authorized its collection, where the data is fed to the traveling public. In 2023, industry revenue is expected to grow 1.2%, with overall growth at a CAGR of 9.8% over the past five years, owing to the mass adoption of intelligent systems in phones and vehicles.

This industry provides real-time traffic information for GPS systems and location-based service applications.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.