Smart traffic mitigation solutions to ease chronic congestion in Cities will generate $4.4 billion in revenue in 2023, up from $2 billion in 2019, says new report by Juniper Research. These technologies span from Smart Parking systems based on vehicle detection sensors to machine learning software algorithms to dynamically alter traffic light phasing according to traffic levels.

Investments are expected to mostly accelerate in North America, Far East and China, where City mobility decisions will combine smart technology deployment with new policies to release traffic congestion. If considering the impact of traffic innovation on citizens, Juniper accounts Barcelona, San Francisco, Singapore, London and Portland as the leading Cities across the globe. Barcelona leads this ranking thanks to its investment in smart traffic mitigation solutions, electric vehicle charging infrastructure and policy, aimed at improving air quality and lowering private vehicle use.

Globally, technology-driven traffic mitigation solutions will contribute to reduce the emissions footprint of Cities, saving the equivalent of over 780 billion passenger vehicle miles’ worth of greenhouse gas emissions by 2023.