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

Related Content

  • March 31, 2021
    Digital Transformation is the way to comprehensive transportation 
    Transportation worldwide needs to keep up with a variety of challenges: Frederic Giron of Forrester Consulting explains how digital technologies will be the key to making the necessary changes...
    Read More
  • December 16, 2016
    US fuel economy for light duty vehicles 2022-2025 ‘will reduce consumption and emissions’
    According to researchers at the University of Michigan, the 2022-2025 fuel-economy (CAFE) standards for light-duty vehicles, which were reaffirmed by the EPA on 30 November 2016 in the midterm evaluation of the standards, will substantially reduce future fuel consumption and emissions, even if the future vehicle mix (cars vs light trucks) does not change. However, in addition to these direct benefits, indirect benefits can also be expected via the influence of more stringent standards on the future mix o
    Read More
  • March 14, 2012
    39 million micro-hybrids by 2017
    Micro-hybrids will grow nearly eight-fold to 39 million vehicles in 2017 and create a $6.9 billion market for energy storage devices as the fuel-saving alternative technology finds ready adoption, driven by stricter emission standards.
    Read More
  • May 26, 2015
    China's RFID market value forecast to reach US$4.3 billion by 2025
    According to a new report by IDTechEx, RFID in China 2015-2025, not only will the use of RFID in China become a US$4.3 billion market in 2025, but that figure will almost double if the value of tags and readers made in the country and exported elsewhere is included. Already in 2015 China had 85 per cent of the global manufacture capacity of RFID tags, with over 150 RFID companies operating in the country.
    Read More

Highlighted Content