In this article, we will be taking a look at the most congested city in North America. If you want to learn about more cities, head straight to 20 Most Congested Cities in North America.
Global Traffic Management Market: Growth, Challenges, and Regional Insights
The global traffic management market is projected to grow from USD 42.3 billion in 2023 to USD 72.5 billion by 2028, at a CAGR of 11.4%. The traffic management industry is a big one in the US, where major companies like Cisco, IBM, Siemens, and others are involved. By 2033, the US is anticipated to hold a significant 25% market share in the worldwide traffic management industry. To lessen traffic and improve road safety, the nation makes significant investments in traffic control technologies. With a compound annual growth rate (CAGR) of 9.03%, the global integrated traffic systems market is expected to reach $66.14 billion by 2032 from $28.05 billion in 2022.
According to a recent CDC analysis, road accidents claim 1.35 million lives worldwide each year or about 3,700 deaths per day. These accidents include automobile, bus, motorbike, and bicycle fatalities. Estimated to be the seventh leading cause of death worldwide by 2030, with an astounding financial burden of $1.8 trillion. Interestingly, the death rate from crashes is three times greater in low-income nations. Over $300 billion is spent on traffic congestion in the US each year; in 2017, Los Angeles alone incurred $19 billion in expenditures.
Due to reduced commute times per 10 km, Dublin almost missed out on the title of most crowded city in 2023, although topping the global congestion records. There are serious traffic problems in other places, such as Mexico City, Lima, Bengaluru, and Bangkok. In the meantime, traffic in New York City was heavy and took almost twenty-four minutes for a six-mile trip; in contrast, Detroit was found to be among the easiest cities to travel through, taking less than nine minutes. Beyond the amount of traffic, other factors that affect travel speeds include the quality of the road and topographical elements like hills and rivers.
Tech Giants Combat Traffic Congestion with Innovative Solutions and Robust Financial Performance
Traffic congestion is being addressed by tech companies such as Conduent Incorporated (NASDAQ:CNDT) and Alphabet Inc. (NASDAQ:GOOG) with their Google and advanced analytics services, respectively. Drivers can report incidents for real-time updates on Waze, operated by Google. With tools like UberX Share, Uber (NYSE:UBER) encourages ridesharing and lessens the number of single-occupant vehicles on the road.
Through the provision of real-time updates to users, Alphabet Inc.’s (NASDAQ:GOOG) crowdsourced data-powered Google Maps efficiently reduces travel congestion. It forecasts traffic patterns with the use of sophisticated machine learning, which helps academics and policymakers. Precise traffic data is guaranteed worldwide by Google’s dedication to improving its AI algorithms and collaborations with research centers such as DeepMind. Notwithstanding difficulties in the internet advertising space, Alphabet Inc. (NASDAQ:GOOG) revealed robust earnings in Q1 2024, with $69.79 billion in revenue and an approved $70 billion share repurchase. With sales of $7.45 billion, Google Cloud proved profitable.
Conduent Incorporated (NASDAQ:CNDT) is also tackling urban traffic congestion, with cutting-edge transportation management techniques including tolling, congestion pricing, and transit connections. To improve mobility and lessen traffic, they employ human-centered design and cutting-edge imaging technology, placing a focus on data-driven and environmentally friendly tactics that advance social justice. Conduent Incorporated (NASDAQ: CNDT) is well-positioned to serve public sector transportation agencies, enhance passenger experiences, and lower emissions and congestion thanks to its excellent financial performance, which includes $953 million in revenue in Q4 2023 and $3,722 million in revenue for the whole year.
Our Methodology
For our methodology, we have ranked the most congested cities in North America based on hours lost per driver in 2022. For the accuracy of data, we relied on Inrix’s 2022 Global Traffic Scorecard.
The Most Congested City in North America
1. Chicago, Illinois
Hours Lost per Driver: 155
Chicago tops the list for being one of the most congested cities in North America. According to the survey, Chicago drivers increased their gasoline expenses by $288 between 2022 and 2021 when commuting to work. During weekday rush hours, the average speed in Chicago was only 19 mph, compared to an optimal travel time of 27 mph.
If you are curious to know which other cities in North America are congested, head straight to our full exclusive list on the 20 Most Congested City in North America.
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Disclosure. None: The 20 Most Congested City in North America is originally published on Insider Monkey.