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

  • Cubic unveils NextTraffic at ITS America 2016 San Jose
    June 13, 2016
    Today, here at ITS America 2016 San Jose, Cubic is launching a new transportation and traffic management solution, NextTraffic, built on the Microsoft Azure cloud platform. The product leverages Cubic’s expertise in transportation payment and information technologies with Microsoft’s leadership in enterprise solutions.
    Read More
  • Benefits of traffic light synchronisation
    January 27, 2012
    Alicia Parkway corridor, located in Orange County, California, was part of Phase 1 of an inter-jurisdictional Traffic Light Synchronisation Programme (TLSP) in Orange County designed to increase mobility and overall drive quality while reducing fuel consumption and greenhouse gas emissions. By increasing average speeds and reducing travel times via the reduction in stops, the programme sought to reduce vehicle acceleration and deceleration events along the corridor; these have been identified as the leadin
    Read More
  • Intel and Inrix collaborate on smart cities platforms
    November 5, 2014
    Inrix and Intel Corporation have announced a strategic collaboration focused on developing next generation smart cities analytics platforms and applications. As part of their collaboration, Intel’s global investment organisation, Intel Capital, is investing US$10 million in Inrix. The two companies recently demonstrated a smart cities application at the White House in Washington, DC. Powered by Inrix real-time traffic information, the application is designed to help the city of San Jose more cost-effect
    Read More
  • Connected car market ‘to grow almost 500 per cent by 2018’
    July 30, 2014
    The market for connected cars is growing rapidly, with an expected compound annual growth rate (CAGR) of 41.2 per cent between 2013 and 2018 and mobile network operators (MNOs) are jumping on the opportunity for new revenue streams and enhancement of customer loyalty that comes with this growth, according to the latest report from research firm Heavy Reading Insider, a research service from Heavy Reading. MNOs Hold the Keys to Success for Connected Cars examines the connected car market, analysing how mo
    Read More

Highlighted Content