Real-Time Traffic Information Providers in the US Industry Market Research Report Now Available from IBISWorld

April 8, 2014

Several advancements have benefited the industry during the past five years, including an increasing number of vehicles with GPS systems and an expanding number of mobile phones with internet technology. For these reasons, industry research firm IBISWorld has added a report on the Real-Time Traffic Information Providers industry to its growing industry report collection.

New York, NY (PRWEB) April 08, 2014

In the five years to 2014, revenue for the Real-Time Traffic Information Providers industry is expected to strongly increase at an average annual rate, including significant growth in 2014. The industry has benefited from an increasing number of vehicles equipped with real-time traffic global-positioning systems (GPS) and a rising number of mobile internet connections. 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.

The proliferation of smartphones has primarily driven industry growth during the past five years. In the five years to 2014, the number of mobile internet connections has significantly increased at an annualized rate. The ability to check traffic in real time, at all times, has caused more consumers to rely on industry services. To meet this demand, according to IBISWorld Industry Analyst Maksim Soshkin, “Industry operators have partnered with more companies to deliver the information, including auto manufactures, mobile-phone companies and mobile-device application developers.” In particular, “Industry operators have been able to use mobile devices as a traffic data source because the devices constantly send out location signals,” says Soshkin. Consequently, the source of real-time traffic data has greatly expanded and the cost of retrieving such data (which was previously only acquired via road sensors and cameras) has declined.

Industry market share concentration is low, as evidenced by the lack of market saturation and stagnant markets. In the five years to 2019, industry revenue is forecast to increase annually on average. Consumers will likely purchase more cars that are equipped with real-time traffic GPS navigation systems as the economy continues to recover from the recession and per capita disposable income rises. Furthermore, industry operators will benefit from an ever-increasing network of crowdsourced information (which involves sourcing data from multiple data points, like smartphones). This factor, coupled with a growing repertoire of value-added services, is expected to boost profit margins. By 2019, industry profit is forecast to continue increasing from its 2014 percentage. Operators will also increase their market by expanding into new coverage areas, including smaller cities and more surface streets.

For more information, visit IBISWorld’s Real-Time Traffic Information Providers in the US industry report page.

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IBISWorld industry Report Key Topics

The Real-Time Traffic Information Providers industry provides real-time traffic information for GPS systems and location-based service applications.

Industry Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

Globalization & Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data

Annual Change

Key Ratios

About IBISWorld Inc.

Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

For the original version on PRWeb visit: http://www.prweb.com/releases/2014/04/prweb11743302.htm

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