US: By 2016, revenue for the real-time traffic information providers industry will increase at an average annualised rate of 38.9% to USD 1.6 billion. A new report from industry research firm IBISWorld estimates that while the industry is forecast to continue growing at a phenomenal rate, revenue growth is expected to decelerate compared with the last five years.
The industry’s major players including Nokia and Inrix (a provider of real-time traffic data, tools and related mobile traffic applications) have benefited from an increasing number of vehicles equipped with real-time traffic GPS and a rising number of mobile internet connections. According to IBISWorld, other notable companies that will continue to influence the industry over the next five years include Waze Ltd. and Google Inc. Operators use data from road sensors, GPS-enabled vehicles and mobile phones to gain insight into traffic conditions. The rising number of GPS-connected systems has increased data timeliness and reliability, further boosting demand for industry services.