$5.3bn
$X.Xbn
9,699
170
$X.Xbn
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.Technology has driven traffic monitoring forward aggressively, creating dramatic improvements and keeping profit high. The rising number of GPS-connected systems in phones and vehicles has increased data timeliness and reliability, allowing maps to be re-updated frequently throughout a traveler's route. The proliferation of smartphones also pushed traffic data distribution forward. However, their more direct impact is the ability to collect universally collect live location data from people. While less directly useful than road occupancy data, planning for events and meteorological phenomena before they occur gives extra time for computation and rerouting. Still, advancements in roadside camera technology are not to be discounted, with many systems able to identify cars by license plate, track their speed, and count the number of vehicles on the road, differentiating by type, all without any human input.As congestion and driving continue to rise, traffic forecasters and their systems will likely expand at a CAGR of 2.1%, rising to $5.8 billion by 2028. As the semiconductor chip shortage subsides completely, consumers will purchase more cars equipped with navigation and traffic accessories. Still, growth may slow if a recession hits as anticipated or if concerns about the negative externalities of private vehicles overtake the dominant car culture. Without a multi-lane change, traffic systems will continue to be essential for guiding communities at the vehicle and planning levels.
Industry revenue has grown at a CAGR of 9.8 % over the past five years, to reach an estimated $5.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Here Technologies | 281.9 | 75.7 | 26.9 | |
Traffic Management, Inc. | 129.4 | 34.7 | 26.8 | |
K&D Services Inc. | 61.7 | 16.5 | 26.8 |
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Industry revenue is measured across several distinct product and services lines, including Traffic and routing data for in-car GPS systems, Traffic and routing data for mobile devices and Traffic and routing data for websites. Traffic and routing data for in-car GPS systems is the largest segment of the Real-Time Traffic Information Providers in the US.
In-car GPS systems continue to grow, relying on their sheer convenience even against phones
This industry provides real-time traffic information for GPS systems and location-based service applications.
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NAICS 51821 - Real-Time Traffic Information Providers in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Traffic alert systems have moved from a helpful feature to a practical necessity for many drivers. Without taking their eyes off the road, drivers can reroute themselves arou...
Learn about an industry's products and services, markets and trends in international trade.
Demand for standalone GPS navigation devices has decreased with the availability of mobile devices, but GPS systems are still being sold to car manufacturers. Real-time traff...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Traffic software development companies locate near city centers. However, the rise of remote work is enabling developers to move anywhere and lower their work costs.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Traffic monitoring software developers compete on price, accuracy and insightfulness of traffic data to win contracts. Access to infrastructure and unique data inputs can als...
Learn about the performance of the top companies in the industry.
Major technology companies are not included as companies in the traffic-providing industry. Despite making many of the most popular navigation apps, their business model does...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The US Department of Transportation established an independent a program to monitor traffic and share data. A subprogram called the Traffic Monitoring Guide collects data for...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit margins for data-intense networks are high, but have decreased due to increased competition and wages. The COVID-19 pandemic further weakened industry profitability si...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Real-Time Traffic Information Providers in the US industry in United States is $5.3bn in 2024.
There are 170 businesses in the Real-Time Traffic Information Providers in the US industry in United States, which has grown at a CAGR of 11.9 % between 2019 and 2024.
The market size of the Real-Time Traffic Information Providers in the US industry in United States has been growing at a CAGR of 9.8 % between 2019 and 2024.
Over the next five years, the Real-Time Traffic Information Providers in the US industry in United States is expected to grow.
The biggest companies operating in the Real-Time Traffic Information Providers market in United States are Here Technologies, Traffic Management, Inc. and K&D Services Inc.
Traffic information and routing for in-car GPS navigation systems and Traffic information and routing apps for GPS-enabled mobile devices are part of the Real-Time Traffic Information Providers in the US industry.
The company holding the most market share in United States is Here Technologies.
The level of competition is moderate and increasing in the Real-Time Traffic Information Providers in the US industry in United States.