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

  • Australian report calls for a shift in infrastructure development
    February 16, 2016
    The first policy outlook paper issued by the Better Infrastructure Initiative at the University of Sydney, Re-establishing Australia's Global Infrastructure Leadership, claims that Australia could save billions of dollars by focusing infrastructure spending on existing infrastructure networks. The report found that low innovation, declining productivity and a failure to positively engage customers are key factors holding back the nation's infrastructure. It recommends greater transparency, better stan
    Read More
  • Europe’s heavy trucks ‘no more fuel-efficient than ten years ago’
    December 4, 2015
    A study by the International Council on Clean Transportation (ICCT) claims that trucks in the European Union are no more fuel-efficient than they were a decade ago. The study, which analyses data from the European commercial trucking market, looking at key member states, manufacturers and fuel consumption trend, found that heavy-duty vehicles represent only four per cent of the on-road fleet in the European Union, but are responsible for 30 per cent of on-road CO2 emissions. In contrast, the study cla
    Read More
  • Support for speed cameras remains high – but some drivers need convincing
    October 29, 2015
    A national survey by the Institute of Advanced Motorists (IAM) has shown that although most drivers support speed cameras there are big variations across the country – and Londoners and people in the north-east appear to show higher levels of resistance than most. The survey polled 1,000 drivers of all age groups across Britain and asked “It is now common for the authorities to use speed cameras at the side of the road to identify vehicles involved in speeding offences. How acceptable do you think this i
    Read More
  • EU releases first transport infrastructure funds
    April 8, 2014
    Following its decision in March to make the first US$16.4 billion tranche of funding available for trans-European transport network projects, the European commission has now adopted the first work programmes within this framework: a multi-annual work programme covering larger projects with a total budget of US$15.1 billion and an annual work programme for 2014 addressing smaller projects with a budget of US1.3 billion. The funding priorities set out in these programmes include: The closing of missing lin
    Read More

Highlighted Content