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

  • Sensys wins breakthrough order from Qatar
    January 8, 2015
    Following targeted long-term marketing efforts, Sensys Traffic has succeeded in winning an order for traffic safety systems worth US$754,000 from a customer in Qatar. The Middle East is now Sensys’ second largest market and the order from Qatar means the company now has customers in eight of the region’s 14 countries. In light of this development, Sensys has decided to establish a local presence in the Middle East during 2015, in order to better meet demand from both existing and new customers. The mai
    Read More
  • Iteris reports growth in sensors and transportation systems
    February 6, 2015
    Intelligent traffic management systems supplier Iteris has reported financial results for its fiscal third quarter ended 31 December 2014, and the sixth consecutive quarter of double-digit year-over-year growth in roadway sensors revenues. Total revenues in the third quarter of fiscal 2015 increased six per cent to US$17.5 million compared to US$16.5 million in the same quarter a year ago. The increase was primarily driven by a ten per cent increase in roadway sensors and a four per cent increase in transp
    Read More
  • Intelematics: five takeaways from ITS World Congress in Singapore
    October 31, 2019
    If you weren’t fortunate enough to be at the 26th ITS World Congress in Singapore – fear not! Stephen Owens of Intelematics takes you through his highlights of the show… Having recently topped the world’s first Smart City Index, Singapore was the ideal host city for this year’s ITS World Congress and provided a fantastic opportunity to bring the International ITS community to the Asia-Pacific (APAC) region. Themed ‘smart mobility, empowering cities,’ it was an enjoyable week full of networking and lea
    Read More
  • Managed motorways, hard shoulder running aids safety, saves time
    January 30, 2012
    The announcement that, in 2012/13, work to extend Managed Motorways to Junctions 5-8 of the M6 near Birmingham in the West Midlands is scheduled to start marks the next step for the UK's hard shoulder running concept, first introduced on the M42 in 2006. The M6 scheme is in fact one of several announced; over the next few years work will start on applying Managed Motorways to various sections of the M1, M25 London Orbital, M60 and M62. According to Paul Unwin, senior project manager with the Highways Agency
    Read More

Highlighted Content