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

  • Deaths of US pedestrians rise sharply, says GHSA report
    April 2, 2019
    Pedestrian deaths across the US have risen to their highest number in nearly 30 years. Many factors are responsible - including the rise and rise of SUVs - according to a worrying new GHSA report ore pedestrians died on US roads last year than in any year since 1990. The Governors Highway Safety Association (GHSA) suggests that 6,227 pedestrians were killed in 2018 – a 4% increase on 2017. Pedestrian deaths as a percentage of total motor vehicle crash deaths increased from 12% in 2008 to 16% in 2017, whi
    Read More
  • Road safety, fatalities increasing adoption of enforcement cameras, says research
    July 8, 2016
    According to a new market report published by Credence Research, Traffic Enforcement Camera Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015-2022, stringent road safety regulations and efforts to reduce road fatalities across the world are increasing the adoption of traffic enforcement cameras. In addition, road safety programs to improve motorist and pedestrian safety are also expected to influence the market growth in future. Countries across the world are continuously
    Read More
  • Drivewyze & One.network start Oregon safety project
    March 29, 2024
    Umatilla County deal will give truck drivers in-cab, real-time road closure alerts
    Read More
  • C/AV technology will be ‘life-altering revolution’
    July 20, 2018
    Preparing for the challenges - and promises - of connected and automated vehicles and other emerging transportation technologies does not necessarily mean investing in actual hardware. Matthew Smith identifies eight key points that US transportation authorities need to look at. Transportation technology is moving rapidly. With the advent of connected and automated vehicle (C/AV) technology, the nation is on the verge of experiencing a major transportation revolution: a life-altering revolution akin to th
    Read More

Highlighted Content