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

  • US eyes European model for Illinois toll road upgrade
    May 30, 2014
    David Crawford welcomes the adoption of European-style ITS technology by the US. The Jane Addams Memorial Tollway in Illinois, US is well on the way towards becoming a ‘smart traffic corridor’, taking full advantage of active traffic management (ATM or ‘managed lanes’) technology that originated in Europe. It is one of the first American toll roads to do so; preliminary work began in 2014 and will continue through to 2016. Jane Addams is one of four toll roads operated by the publicly-owned Illinois State T
    Read More
  • Sign language reduces human error says Clearview
    September 26, 2019
    Wrong-way warning systems and advanced queue detection can help to reduce human error. They can also cut road accidents – and therefore road deaths, says Clearview Intelligence Where were nearly 1,800 deaths on the UK’s roads in 2018 – an average of five people dying each day. The largest single cause of serious injury is crashes at junctions (accounting for 33% of incidents), while the largest single cause of death was run-off road crashes (30%) “With vehicles increasingly being designed with saf
    Read More
  • US Cities push for smarter poles
    June 25, 2018
    US Cities The need to connect existing infrastructure has led various US transit authorities into imaginative alleyways: David Crawford examines some new roles for street furniture. US cities are vying with each other in developing schemes to create a new generation of connected places. Their strategies include taking advantage of their streetlight poles’ height and ubiquity to give them new roles in supporting intelligent nodes. They are now being equipped for collecting real-time data on key transport
    Read More
  • Making transportation systems safer and more sustainable with connectivity
    August 6, 2021
    Connectivity will make transportation systems safer and more sustainable as Anne-Lise Thieblemont of Qualcomm outlines
    Read More

Highlighted Content