Iteris Launches New ClearGuide Signal Trends as a Probe-based Option for Improving Intersection Performance
- ClearGuide Signal Trends enhances signal performance without infrastructure connectivity.
- The solution offers real-time signal performance data and anomaly detection.
- Signal Trends prioritizes signal retiming based on data-driven insights.
- The solution leverages cloud-connected vehicle data for timely adjustments.
- Iteris' ClearGuide platform provides a comprehensive solution for intersection operations and safety.
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Insights
The introduction of ClearGuide® Signal Trends by Iteris, Inc. represents a significant advancement in the field of smart mobility infrastructure management. By utilizing probe data to enhance signal performance at intersections, this solution has the potential to streamline congestion management and minimize the reliance on physical infrastructure. This development is particularly relevant in the context of growing urbanization and the increased need for efficient traffic management systems.
From a transportation systems perspective, the ability to identify and address signal performance issues using cloud-connected vehicle data is a leap forward. It negates the need for traditional traffic counting studies, which are not only labor-intensive but also prone to delays in data collection and analysis. By providing real-time data and visualization, agencies can proactively manage signal retiming, which is a departure from the conventional calendar-based approaches. This shift towards a more dynamic and data-driven strategy can result in improved traffic flow, reduced congestion and enhanced traveler satisfaction.
Moreover, the integration of Signal Trends with Iteris' existing suite of diagnostic solutions allows for a holistic approach to traffic signal and arterial management. The ability to generate comprehensive reports and alerts across various aspects of traffic management – from safety to efficiency – positions Iteris to cater to a broad spectrum of mobility infrastructure needs. This could lead to potential contracts with government agencies looking to upgrade their traffic management systems, thereby impacting Iteris' market position and financial performance in the smart mobility industry.
The announcement of Iteris' ClearGuide® Signal Trends is strategically positioned to attract interest from municipal agencies and could potentially lead to increased sales. The solution's promise of improving intersection performance without additional infrastructure investment is likely to resonate with budget-conscious agencies. By offering a standalone product as well as an integrated component of the ClearGuide suite, Iteris is broadening its market appeal and enhancing cross-selling opportunities.
Financially, the adoption of Signal Trends could lead to a reduction in operational costs for agencies, as it eliminates the need for periodic traffic studies and allows for more targeted maintenance. For Iteris, the recurring revenue model that typically accompanies cloud-based services could provide a stable income stream and improve financial predictability. The company's stock market performance could see a positive impact if the adoption of this new solution meets or exceeds market expectations.
It is important to monitor the adoption rate of Signal Trends post-launch, as this will be a key indicator of its market impact. The company's ability to secure new contracts and expand its client base will be critical in assessing the long-term financial implications of this product launch. Investors should look for evidence of market penetration and client feedback as indicators of the solution's performance and its contribution to the company's revenue growth.
The solution will transform arterial congestion management by identifying where signal performance is compromised without reliance on infrastructure
Iteris Launches New ClearGuide Signal Trends as a Probe-based Option for Improving Intersection Performance (Photo: Business Wire)
Signal Trends complements Iteris’ industry-leading detection and traffic analytics software by enabling agencies to enhance performance at the intersection level without the need for equipment connectivity. The solution is designed to help agencies easily identify maintenance and congestion problems at more intersections, including where they do not yet have traffic sensors or communications infrastructure.
The new solution within ClearGuide provides signal performance data and visualization by region or sub-region, notifies operators of abnormal conditions promptly, eliminates the need for traffic counting studies, and helps agencies better prioritize signal retiming with a data-driven, rather than calendar-based, approach to retiming.
Signal Trends leverages anonymized trajectory data from cloud-connected vehicles to identify when and where there are signal performance issues and how they have changed over time. This enables agencies to make timely adjustments to reduce delays and improve traveler satisfaction.
Signal Trends integrates seamlessly with ClearGuide Roadways, ClearGuide Safety, and ClearGuide SPM. Together these comprehensive diagnostic solutions generate reports, alerts, and recommendations to improve the safety and efficiency of traffic signals and arterials in one user interface. Only Iteris offers both probe Signal Performance Measure (SPM) and Automated Traffic Signal Performance Measure (ATSPM) solutions.
ClearGuide Signal Trends is available to any agency in
“The addition of Signal Trends to the ClearGuide platform allows our customers to instantly see which intersections need attention, across their entire network, so they can prioritize staff time and investments,” said Tiffany Symes, senior director of product management at Iteris. “With Signal Trends, Iteris continues to expand its intersection offerings—that includes vision and radar sensors, connected vehicle technology, curated mobility data, and advanced analytics—to create the industry’s most complete solution for intersection operations, maintenance, and safety.”
The ClearGuide solution is a key component of Iteris’ ClearMobility® Platform, the world’s most complete solution to continuously monitor, visualize and optimize mobility infrastructure. ClearMobility applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient and communities thrive.
About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our AI-powered end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," “feels,” "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “could,” “should,” “will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the benefits and impacts of our ClearGuide solution. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide our services and solutions in a cost-efficient manner; government funding and budgetary delays, issues and timing; the potential impact of product and service offerings from competitors and other competitive pressures; challenges in the development of software-based solutions generally; and the impact of influences and general economic, political, environment, and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
View source version on businesswire.com: https://www.businesswire.com/news/home/20240326489358/en/
Media Contact
Breanna Wallace
Tel: (949) 996-5348
Email: brwallace@iteris.com
Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
Email: todd@mkrir.com
Source: Iteris, Inc.
FAQ
What is the new solution launched by Iteris, Inc. (NASDAQ: ITI)?
How does Signal Trends help agencies enhance performance at intersections?
What data does Signal Trends leverage to identify signal performance issues?
What does ClearGuide Signal Trends offer in terms of signal retiming?
How does Signal Trends integrate with other ClearGuide solutions?
