Global IoT in Intelligent Transportation Systems Market Outlook 2019-2026

Posted by Karthik Pilla on February 28th, 2020

Bharat Book Bureau Provides the Trending Market Research Report on "Global IoT Market in Intelligent Transportation Systems Size study, by Component (Semiconductor Components and Wireless/Cellular Components), by Products, Software & Services (Products, Software and Services), by Verticals (Roadways, Railways, Airways and Maritime), by Transportation Solutions (Traffic, Asset, Ticketing, Supervision Solutions, Operation Solutions, Passenger Information, Maintenance, Maintenance Scheduling Solutions, Predective Analytics and Logistics and Fleet Solution), by Application (Telematics, Infotainment and Advanced Driver Assistance System (ADAS)) and Regional Forecasts 2019-2026" under Transportation category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

Global IoT Market in Intelligent Transportation Systems is valued approximately at USD 121.1 billion in 2018 and is anticipated to grow with a growth rate of more than 9% over the forecast period 2019-2026. IoT Market in Intelligent Transportation System refers the integration of communication and information processing across transportation systems for real-time interaction. For instance, satellites-based navigation system which is known as Global Positioning system (GPS). 

Internet of Things (IoT) involves connecting physical objects to the Internet for developing smart systems and universal mobile accessibility with advanced technologies like Intelligent Transportation System (ITS). Intelligent Transportation System (ITS) is the process to communicate between vehicles using IoT which brings new era of communication in ITS. IoT based Intelligent Transportation System enhances automation in railways, airways, roadways and marine, that helps consumer to experience advanced transporting, tracking and delivering of their goods.

Rapid expansion of automotive industries, along with increasing smart cities development as well as huge investments in the R&D of IoT related software and dedicated short-range communications for the V2V Communication are the few factors responsible for high CAGR of the market over the forecast period. For instance, as per Statista, the internet of things (IOT) spending was USD $ 257 billion in consumer sector, $ 115 billion in cross industry business and $ 567 billion in vertical specific business in 2014 and is anticipated to rise up to USD $ 1,494 billion in consumer sector, $ 567.6 billion in cross industry business and $ 863.6 billion in vertical specific business in 2020, throughout the world. 

Further, integration of technologies helps develop better solutions in transportation and rising on-demand infotainment and traffic navigation, along with safety and security features in automotive are likely to impel the demand for IoT Market in Intelligent Transportation System over the forecast period. However, big data increases complexity as well as improvements are required in battery related technologies is the major factor restricting the growth of global IoT Market in Intelligent Transportation Systems during the forecast period.

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The regional analysis of global IoT Market in Intelligent Transportation Systems is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the wide advancements in IoT Market in Intelligent Transportation Systems along with rapid growth in automotive sector across the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period of 2019-2026.

Major market player included in this report are:

• Garmin Ltd.
• Thales Group
• TomTom N.V.
• Nuance Communication
• Denso Corp.
• Alcatel-Lucent S.A
• AT&T Inc.
• Verizon Communications Inc.
• Sierra Wireless
• IBM Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. 

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

• Semiconductor Components
• Wireless/Cellular Components

By Products, Software & Services:

• Products
• Software
• Services

By Verticals:

• Roadways
• Railways
• Airways
• Maritime

By Transportation Solutions:

• Traffic
• Asset
• Ticketing
• Supervision Solutions
• Operation Solutions
• Passenger Information
• Maintenance
• Maintenance Scheduling Solutions
• Predective Analytics
• Logistics and Fleet Solution

By Application:

• Telematics
• Infotainment
• Advanced Driver Assistance System (ADAS)

By Region:

- North America
• U.S.
• Canada

- Europe
• UK
• Germany

- Asia Pacific
• China
• India
• Japan

- Latin America
• Brazil
• Mexico

- Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global IoT Market in Intelligent Transportation Systems in Market Study:

• Key Consulting Companies & Advisors
• Large, medium-sized, and small enterprises
• Venture capitalists
• Value-Added Resellers (VARs)
• Third-party knowledge providers
• Investment bankers
• Investors

Browse our full report with Table of Content :

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Karthik Pilla

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Karthik Pilla
Joined: March 29th, 2019
Articles Posted: 651

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