El Segundo, Calif. - Although its been slow to catch on so far, real-time traffic information is about to take off, becoming a must-have feature in navigation, with subscribers growing by more than 10-fold, said iSuppli.
The number of U.S. subscribers to real-time traffic service will skyrocket to 51.1 million in 2014, up from 4.6 million in 2008, the research firm said. This year, subscribers will almost double to 8.1 million, reaching 12.6 million next year. On a worldwide scale, subscribers will soar to 184.9 million in 2014, up from 18.5 million in 2008, said iSuppli.
Revenue from real-time traffic subscribers will climb to $1.28 billion by 2014, up from $.11 billion in 2008; it will reach $0.20 billion this year and $0.32 billion in 2010. On a worldwide basis, revenue will climb to $4.7 billion in 2014, up from only $268 million in 2008, iSuppli said.
The estimates include traffic service charges on portable and fixed navigation devices and cellphones.
"Within a few years, such traffic information will become so common that it will be an essential feature on navigation and telematics solutions." said iSuppli automotive research VP Phil Magney."
Real-time traffic provides up-to-date information to drivers about traffic jams, incidents, projected delays and alternate routes.