Investment by players in global IoT in intelligent transportation systems drives growth, finds TMR

Some of the major players in the global market for internet of things (IoT) in intelligent transportation systems are investing heavily in developing solutions, according to Transparency Market Research. As a result, it predicts that the market for IoT in intelligent transportation systems will rise at a 19.8 per cent CAGR during the period between 2017 and 2025. At this pace, the market is likely to attain a value of US$249.84 billion by the end of 2025 from US$41.57 billion in 2015.
September 11, 2017 Read time: 2 mins
Some of the major players in the global market for internet of things (IoT) in intelligent transportation systems are investing heavily in developing solutions, according to 7801 Transparency Market Research. As a result, it predicts that the market for IoT in intelligent transportation systems will rise at a 19.8 per cent CAGR during the period between 2017 and 2025. At this pace, the market is likely to attain a value of US$249.84 billion by the end of 2025 from US$41.57 billion in 2015.


Based on components, the global market for IoT in intelligent transportation systems can be broadly divided into software, hardware and services. Among them, the hardware segment accounted for a maximum share in revenue in 2016. Hardware such as RFID, sensors, etc. is installed in vehicles. They help to monitor vehicle speeds, crossing traffic signals, and other things which serve to increase the safety of drivers.

Geographically, the key segments of the global market for IoT in intelligent transportation systems are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America at present dominates the market with a maximum share in revenue. In the years ahead too, the region is expected to hold on to its leading position to become worth US$85.87 billion by 2025. North America's dominance is the result of the presence of numerous key players in the region.

IoT in intelligent transportation systems is being leveraged for smart parking solutions, traffic management solutions, passenger entertainment, fleet management and telematics solutions, and security solutions. In addition, they aid in advanced transportation management systems that include traffic control, electronic toll collection and management of networking solutions. IoT in advanced transportation management system uses communications, sensing, and data-processing technologies to reduce traffic problems and sudden incidents.

Demand for fleet management solutions to improve freight services is also bolstering the IoT in intelligent transportation system market, globally. These solutions help in managing commercial vehicles by tracking them, reducing fuel consumption, and monitoring drivers.

Location Based Systems

For more information on companies in this article

Related Content

  • Electrify to double EV charging network
    August 16, 2021
    Plans include an EV charging highway to the upper Midwest
    Read More
  • Updated M2M specifications issued
    March 23, 2016
    The European Telecommunications Standards Institute (ETSI) has announced the publication of the complete set of updated oneM2M Release 1 specifications, the global standards initiative for machine-to-machine (M2M) and the Internet of Things (IoT). Each oneM2M partner standards body publishes the complete set of oneM2M specifications as its own local specifications, ensuring there is one global set of specifications, recognised in each region. ETSI says these specifications show a development that promise
    Read More
  • Solid growth for IRD
    April 14, 2015
    International Road Dynamics showed solid growth for the three months ended 28 February, with revenue up 3.6 per cent in key geographic markets and product segments. The company’s gross margin continues to strengthen, up 11.6 per cent from last year's first quarter, rising to 30.6 per cent of revenues from 28.4 per cent last year. It reports a stable financial position with working capital rising to US$7.7 million and forecasts continued growth through the balance of fiscal 2015. "Following solid growth
    Read More
  • Boost to infrastructure, autonomous cars in UK budget
    March 17, 2016
    The UK chancellor announced in his spring budget what he called the biggest investment, US$87.5 billion (£61 billion), in transport infrastructure in generations and is increasing capital investment in the transport network by 50 per cent over this Parliament compared to the last. The government plans to establish the UK as a global centre for excellence in connected and autonomous vehicles by establishing a US$24.1 million (£15 million) ‘connected corridor’ from London to Dover to enable vehicles to com
    Read More

Highlighted Content