KITCHENER, Ontario, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Miovision, a global leader in intelligent traffic solutions, has been named one of Canada’s Top Growing Companies in The Globe and Mail’s 2024 Report on Business with a 348% revenue growth over the past three years. This achievement highlights the company’s expanding footprint in transportation management, driven by significant milestones in capital raising, strategic acquisitions, and commitment to transform transportation infrastructure worldwide.
“We are honoured to be acknowledged as one of Canada’s Top Growing Companies,” said Kurtis McBride, CEO of Miovision. “This accolade is a direct result of the hard work and innovation of our team, and the trust our customers have placed in us. Our mission to provide actionable insights and innovative traffic solutions has driven our growth and solidified our industry standing."
New Opportunities for Innovative Companies
Miovision helps agencies address the growing challenges associated with urban transportation, including traffic congestion. The Texas A&M Transportation Institute estimates that congestion in the United States cost $166 billion in 2019, including direct costs—fuel and time—and indirect costs such as lost productivity. Solving these challenges in new ways is creating a fast-growing market, and Miovision is the innovator in this space.
By leveraging advanced data collection and safety analytics, Miovision enhances road safety, reduces congestion, and promotes sustainable urban development. From real-time data analytics to advanced traffic signal management, the company’s scalable solutions—Miovision One, Scout Plus, and Opticom—are revolutionizing how cities approach real-world traffic problems. To date, the company has helped 68 countries make informed decisions, benefiting the safety of motorists and pedestrians, as well as improving the efficiency and sustainability of critical intersections.
Recent Milestones
Over the last three years, Miovision has made major strides that propelled its growth, including:
- Global Traffic Technologies (GTT) Acquisition: GTT is behind Opticom which provides green light priority to emergency responders and public transit vehicles. Currently installed at over 90,000 intersections across North America, it helps reduce emergency response times by up to 25%.
- Traffic Technology Services (TTS) Acquisition: This move expanded Miovision’s reach to 170,000 intersections globally, with agreements with 180 traffic agencies in place.
- Cloud Integration: Miovision’s transition to a cloud-based traffic management system has enhanced its scalability and real-time platform capabilities.
- Intersection Safety Challenge: Miovision was shortlisted by the U.S. Department of Transportation for the Intersection Safety Challenge, recognizing its efforts to develop next-generation solutions that improve road safety at intersections.
- Expansion into V2X Technology: Miovision made a foray into V2X (vehicle-to-everything) technology, debuting at the Auto Show.
- ITSWC 2024: Miovision’s presence on the global stage was recently demonstrated by its attendance at the Intelligent Transportation Systems World Congress 2024 (ITSWC) in Dubai.
“We remain committed to driving innovation in traffic management and helping cities worldwide become safer and more efficient. Our goal is to empower policymakers with the data they need for informed decisions and positive community change," added Lyne Jacques, Chief Revenue Officer.
About Miovision
Miovision enables cities to reduce traffic congestion and vehicle emissions, while improving public safety through scalable intelligent transportation solutions. Our permanent and portable systems have detected more than 77 billion vehicles and 3 billion pedestrians and cyclists, providing accurate, actionable traffic data and insights that help make transportation safer and more efficient for all. Miovision is headquartered in Kitchener, Canada, and has offices in Germany, Serbia, and the United States. Since its start in 2005, Miovision has served over 5,000 customers in 68 countries.
