Global Traffic Information Services Market to Reach US$15.2 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Traffic Information Services estimated at US$6.1 Billion in the year 2020, is projected to reach a revised size of US$15.2 Billion by 2027, growing at a CAGR of 14% over the period 2020-2027.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 18.2% CAGR for the Period of 2020-2027
The Traffic Information Services market in the U.S. is estimated at US$1.6 Billion in the year 2020.
The country currently accounts for a 26.96% share in the global market.
China, the world second largest economy, is forecast to reach an estimated market size of US$3.4 Billion in the year 2027 trailing a CAGR of 18.2% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 12.2% respectively over the 2020-2027 period.
Within Europe, Germany is forecast to grow at approximately 11% CAGR while Rest of European market (as defined in the study) will reach US$3.4 Billion by the year 2027.
Competitors identified in this market include, among others:
- Airsage Inc.
- Alibaba Group Holding Limited
- Apple Inc.
- Beijing Lingtu Software Technology Co. Ltd.
- Cubic Corporation
- Garmin International Inc.
- Google Inc.
- HERE Global B.V.
- Infoblu S.p.A.
- INRIX Inc.
- Kapsch TrafficCom AG
- LG CNS
- NavInfo Co. Ltd.
- Q-Free ASA
- Sirius XM Holdings Inc.
- TomTom International B.V.
- TrafficCast International Inc.
- Waze Mobile
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