Transforming traffic management industry to generate over US$6 billion in system revenues by 2023
Aug 22, 2018
London, United Kingdom - 22 Aug 2018
Traffic management approaches are evolving from legacy monitoring solutions based on embedded road sensors and centralized, manually operated control centers to closed loop systems leveraging real-time, hyper-granular traffic data crowdsourcing and allowing active response management. These transformative technologies and business models will create shifts in the types of traffic management revenues but will continue to drive growth rates of around 10% to generate over US$6 billion by 2023 according to a new report from ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies.
“The traffic management industry is moving from passive monitoring and traffic information dissemination to active, intelligent rerouting to maintain traffic flows,” says Dominique Bonte, Vice President End Markets at ABI Research. "(Semi-) automated response management to incidents is accomplished through adaptive digital signage, road section closures, alternative routing, and seamless integration with backup public transport. Suppliers like Kapsch, Siemens, and PTV Group (Porsche SE) are among the leading actors in this transforming landscape.”
From a planning perspective, predictive traffic data and advanced AI-based analytics allow adopting preventive measures to avoid or at least reduce the worse instances of foreseeable congestion. Additionally, instruments like HOV lanes, intelligent traffic lights, congestion zones, and dynamic Road User Charging (RUC) allow either prioritizing or influencing traffic levels. Traffic data can also be used for long-term urban planning and design.
However, the inherent limitations of traffic management solutions in terms of their incremental and reactive nature can only be offset through long-term structural solutions, ranging from car sharing to smart parking and future driverless mobility.
These findings are from ABI Research’s Intelligent Transportation Systems Market Forecast report. This report is part of the company’s Intelligent Transportation and eFreight research service, which includes research, data, and Executive Foresights.
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