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Global IoT in Intelligent Transportation System Market: Investments by Players to Develop Solutions Drives Impressive Growth, Finds TMR


News provided by

Transparency Market Research

08 Sep, 2017, 12:30 GMT

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ALBANY, New York, September 8, 2017 /PRNewswire/ --

Some of the prominent participants in the global market for Internet of Things (IoT) in intelligent transportation system are Intel Corporation, Cisco Systems, Cubic Transportation Systems, Siemens AG, Thales Group, TomTom NV, TransCore Holdings, Inc., Verizon Telematics, Microsoft Corporation, Garmin Ltd., NEC Corporation, Watson Internet of Things (IBM), Huawei Technologies Co., Ltd., Hitachi Transport System Ltd., and Iteris Inc.

Most of them are investing heavily in developing such solutions. As a result, the market for IoT in intelligent transportation system is slated to make gigantic progress in the years to come. A report by Transparency Market Research predicts the market to rise at a 19.8% CAGR during the period between 2017 and 2025. At this pace, the market will likely attain a value of US$249.84 bn by 2025-end from US$41.57 bn in 2015.

Based on component, the global market for IoT in intelligent transportation system can be broadly divided into software, hardware, and services. Among them, the segment of hardware accounted for maximum share in revenue in 2016. Hardware such as RFID, sensors, etc. is installed in vehicles plying on the road. They help to monitor the speed of the vehicle, jumping of signals, and other things which serve to up the safety of drivers.

Geographically, the key segments of the global market for IoT in intelligent transportation system are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America at present dominates the market with 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 bn by 2025. North America's dominance is the result of the presence of numerous key players in the region.

Get PDF Sample for this Research Report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27206

Intelligent Transportation System Generated by IoT Boosts Market 

"IoT is transforming the transportation sector with the generation of intelligent transportation system (ITS) that helps to optimize logistics and fleet management, goods and services, traffic management driver assistance, etc. ITS helps in automating railways, roadways, airways and marine vessels. It also helps in tracking and delivery of goods," explains the lead analyst of the TMR report. On account of so many unique perceived benefits, the global market for IoT in intelligent transportation system is expected to rise at a solid pace.

Wide Array of Applications Promote Uptake 

IoT in intelligent transportation system 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 system that includes 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 keeping a tab on drivers.

Sharp drop in price of sensors is predicted to have a positive impact on the market too, in the upcoming years.  

This review is based on the findings of a TMR report, titled, "IoT in Intelligent Transportation System Market (Component - Hardware (Sensors, Cameras, Screen/Display, Networking Hardware, and Positioning Hardware; Software (Ticketing, Advanced Driver Assistance, Traffic Management, Operations, Passengers, and Logistics and Fleet Solutions; Services (Support Service, Maintenance and Management Service, and Installation and Integration Service; End-Use Vertical - Roadway, Railway, Airway, and Maritime) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025."

Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/iot-in-intelligent-transportation-systems-market.htm

The global IoT in Intelligent Transportation System Market is segmented as below:

Global IoT in Intelligent Transportation System Market, by Component 

  • Hardware
    • Sensors
    • Cameras
    • Screen/Display
    • Networking hardware (Antennas, Routers, Hub, RFID, NFC)
    • Positioning Hardware
    • Other
  • Software
    • Ticketing
    • Advance driver assistance
    • Traffic management
      • Intelligent Signalling
      • Traffic Analytics
      • Communication Solutions
      • The incident detection
    • Operation
      • Passenger Management
      • Revenue Management
      • Workforce Management
    • Passenger
      • Station/On-Board System
      • Location based information
      • Multimedia Solutions
    • Logistics and Fleet Solutions
      • Management Solutions
      • Tracking Solutions
    • Others
  • Services
    • Support Service
    • Maintenance and Management Service
    • Installation and Integration Services
    • Others

Global IoT in Intelligent Transportation System Market, by End-Use Vertical 

  • Roadways
  • Railways
  • Airways
  • Maritime

Global IoT in Intelligent Transportation System Market, by Geography 

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • The U.K
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • India
    • China
    • Japan
    • Australia
    • Rest of APAC
  • Middle East and Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America

Top Research Report by TMR: 

Telecom API Platform Market: http://www.transparencymarketresearch.com/telecom-api-platform-market.html

Home Networking Device Market: http://www.transparencymarketresearch.com/home-networking-device-market.html

About Us 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
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90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

TMR Blog: http://www.editiontruth.com/

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