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

  • Iteris explores intelligent infrastructure 
    April 30, 2021
    Iteris and Continental will utilise automotive sensors and I2V connectivity
    Read More
  • Machine vision standards definition moves forward with establishment of new forum
    December 3, 2012
    The new Future Standards Forum will homogenise standards develop in the machine vision and partnering sectors. Here, machine vision industry experts discuss developments. By Jason Barnes At the Vision Show, which took place in Stuttgart at the beginning of November, the European Machine Vision Association, the US’s Automated Imaging Association and the Japan Industrial Imaging Association (JIIA) established a joint initiative, the Future Standards Forum (FSF). This, said the EMVA’s President Toni Ventura, a
    Read More
  • ITSA’s Shailen Bhatt looks to the future
    March 6, 2018
    The new boss of ITS America is fizzing with ideas. Shailen Bhatt talks to Adam Hill about the need to rebrand the ITS industry, how technology can leverage tax dollars – and where the Star Wars universe fits in to his philosophy. Shailen Bhatt has a big job on his hands. The CEO and president of the Intelligent Transportation Society of America is the second to hold the post in two years following the resignation last July of his predecessor Regina Hopper. It has not been the easiest time for the
    Read More
  • Dynniq’s FlowSense gives green light for city mobility
    March 19, 2019
    Putting an end to traffic jams – including those involving freight - and improving the air people breathe are major goals for city authorities everywhere. With FlowSense, Dynniq thinks it may have some answers. Adam Hill asks how Sitting in traffic is top of the list of many commuters’ pet hates: a necessary evil, perhaps. But at least it doesn’t kill you - the same can’t be said of toxins in the air. Indeed, the World Health Organisation estimates that 4.2 million deaths worldwide are due to outdoor pol
    Read More

Highlighted Content