By: Natasha Taylor
Smart traffic management systems are predicted to save cities $277 billion globally by 2025, according to a forecast summary report by Juniper Research.
The $277 billion in savings will be a 55% increase from $178 billion in 2021, with the forecast summary identifying the use of Vehicle-to-Everything (V2X) technology as the key enabler.
More specifically, it is suggested that V2X is critical to the enhancement of smart management traffic systems by implementing it at smart intersections.
By utilizing V2X connectivity, vehicles and smart infrastructure can communicate directly with one another and provide critical information to drivers and road users.
This allows smart management systems to gather data directly from vehicles instead of relying on traditional traffic actuation methods.
The implementation of V2X at smart intersections means that traffic flow can be monitored and managed using real-time data to improve safety and efficiency.
This will lead to reduced road congestion, with the cost of this alone predicted to make up 95% of the total $277 billion savings.
For each motorist, this will equate to a reduction of over 33 hours of time spent in traffic per annum.
It is estimated that North America and Europe are to make up 75% of these savings due to their high traffic volumes and committed and increasing investment into smart traffic management and V2X technology.
The report also highlights the importance of stakeholder collaboration across V2X and automotive industries for the further development of smart traffic management to enable the integration of various automotive services such as smart parking.
Read more about the benefits of V2X technology here.