New report says the traffic management industry is transforming
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 $6 billion by 2023 according to a new report from ABI Research.
"The traffic management industry is moving from passive monitoring and traffic information dissemination to active, intelligent rerouting to maintain traffic flows," said 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 artificial intelligence (AI)-based analytics allow adopting preventive measures to avoid or at least reduce the worst instances of foreseeable congestion. Additionally, instruments such as 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 carsharing to smart parking and future driverless mobility.
These findings are from ABI Research's Intelligent Transportation Systems Market Forecast report. The report covers hardware, software and middleware, and services provided by suppliers for the design of intelligent transportation systems. It addresses the DSRC 802.11p V2X standard as well as subscription forecasts for the competing cellular V2X protocol, across its three main implementations (4G V2X D2D, 5G V2X D2D, and 5G V2X network-based / network slicing). Forecasts of dedicated short-range communications (DSRC) roadside units (RSUs) and information on V2X suppliers, solutions, and projects are also given, as well as forecast data for electronic toll collection.