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

  • Study reveals in-car devices aid positive changes to driver behaviour
    December 3, 2012
    The results of a four-year study by the Field Operational Tests of Aftermarket and Nomadic devices in Vehicles (TeleFOT) Consortium were presented at a recent conference in Brussels. The study focused on the assessment of the impact of driver support functions provided by in-vehicle aftermarket and nomadic devices on driving and driver behaviour. Coordinated by the Technical Research Centre of Finland (VTT) and with a budget of US$19.5 million, the four-year TeleFOT project is one of the biggest traffic IC
    Read More
  • ATFI disputes toll survey findings
    September 15, 2014
    According to a recent poll by infrastructure group HNTB, 79 per cent of US residents would support "would support the addition of a toll on a non-tolled surface transportation facility if it resulted in a safer, congestion-free and more reliable trip." The poll also found 83 per cent of its respondents would also support tolls on highways that are currently free, which has been a source of contentious debate in Washington. HNTB Toll Services Chairman Jim Ely said the finding bolstered the argument o
    Read More
  • Maintaining momentum: learning lessons from the London Olympics
    November 15, 2013
    Japan will not only host this year’s ITS World Congress but has been selected for the 2020 Olympics. So what can Japan, and indeed Brazil, learn from the traffic management for London 2012 - Geoff Hadwick finds out. It was a key moment when Olympic boss Jacques Rogge signed off London 2012, calling the Games “happy and glorious.” Scarred by the logistical disaster of Atlanta 1996 and the last-minute building panic for Athens 2008, Rogge clearly thought London 2012 was an object lesson in how to plan and
    Read More
  • The inside story of how traffic chaos was avoided after I-95 collapse
    August 23, 2023
    June’s collapse of major US roadway I-95 in Pennsylvania could have caused lengthy traffic chaos. But - relatively speaking at least - it didn’t and gridlock was avoided. Alan Dron finds out why
    Read More

Highlighted Content