The traffic information services market has been forecast to reach a value of US$3.8 billion by the year 2018, driven by the continued increase in vehicular population and consequent strain on the existing road infrastructure.
Furthermore, the utilisation of traffic services is expected to accelerate in all major regions across the globe, driven by hectic traffic, higher penetration of navigation units and the development of communication technologies.
The leading players in the traffic information services market, such as INRIX, Mediamobile, TomTom, Be-Mobile and Navteq, are continuing to expand their coverage with the aim of being able to offer a 'one-stop shop' global provision to vehicle manufacturers and their Tier-1 suppliers.
Approximately 40 vehicle manufacturers are using traffic information services across the world. In most markets, the number of OEMs that have contracts with commercial service providers remains relatively small. France, UK and US are the exception to this trend with most vehicle manufacturers paying to access traffic services in these markets.
The US represents the largest region within the traffic information services market. Traffic congestion in the US is estimated to cost the nation over $150 billion each year. In 2010 alone, US drivers were estimated to have wasted 3.8 billion gallons of fuel while waiting in traffic.
In Europe, congestion of roads attributes to a cost implication of 1.0% of the region's GDP. The most developed markets in the region for traffic information services are France, Germany and the UK, where services are provided mainly for controlled access roads.
For more information on the traffic information services market, see the latest research: Traffic Information Services Market
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