Global IoT in Intelligent Transportation System Market: Snapshot
Internet of Things (IoT) is poised to disrupt almost every sector and transportation is one of them. By generating an intelligent transportation system (ITS), it can help optimize logistics and fleet management, tracking and monitoring of goods and services, traffic management, driver assistance, etc. In fact, it can automate an entire vehicle. All such advantages are causing a stir in the transportation industry thereby spelling a bright future for the IoT in intelligent transportation system market, worldwide.
Congestion on urban roads and rising accidents which need smart transport management solutions leveraging sensing, communications, and data processing technologies are already serving to drive the IoT in intelligent transportation market. Not just that, IoT is used for smart parking solutions, traffic management solutions, passenger entertainment, fleet management and telematics solutions, and security solutions. Moreover, prices of sensors are projected to come down in the near future. This is also expected to drive sales.
Being a sunrise sector and on account of so many advantages, the global IoT in intelligent transportation system market is predicted to make gigantic strides in the near future. Transparency Market Research forecasts the market to clock a phenomenal 19.8% CAGR between 2017 and 2025 to become worth US$249.84 bn by 2025 from US$41.57 bn in 2015.
Sensors Drive up Revenue in Hardware Segment
The global IoT in intelligent transportation system market can be segmented based on different parameters. Based on component, for example, it can be divided into software, hardware, and services. At present, the hardware segment dominates vis-à-vis revenue. This is mainly on account of the sensors which are a type of hardware that form an integral part of IoT solutions. Besides, networking hardware such as RFID are also seeing significant uptake in road vehicles.
In terms of growth rate, however, the segment of software is slated to outpace all others in the IoT in intelligent transportation system market. Logistics and fleet management solutions are providing maximum fillip to the software segment currently. In addition, in the services segment, the installation and integration services is expected gross substantial revenue in the overall market. Support service and maintenance and management service will also likely contribute to revenue significantly.
Presence of Key Players Makes North America Dominant Region
From a geographical standpoint, North America currently leads the global market for IoT in intelligent transportation system with maximum share. This is because of the presence of a considerable number of key players in the region. The report by TMR predicts the market in North America to retain its dominant share by rising at a 19.2% CAGR in the forecast period. At this rate, it forecasts the market to become worth US$85.87 bn by 2025.
Vis-à-vis the pace of growth, however, Europe is anticipated to emerge as the topmost region in the global market for IoT in intelligent transportation system. The market in the region is predicted to clock a CAGR of 21.2% between 2017 and 2025. The railway sector in Europe, which has leveraged IoT, is at the forefront of powering its market. Asia Pacific is another key region which is expected to expand at a cracking pace on the back of countries such as China, Japan, and Australia.
Prominent participants in the global IoT in intelligent transportation system market are Cisco Systems, Intel Corporation, Cubic Transportation Systems, Siemens AG, Thales Group, TomTom NV, TransCore Holdings, Inc., Verizon Telematics, Microsoft Corporation, Garmin Ltd, NEC Corporation, Watson Internet of Things (IBM), Huawei Technologies Co., Ltd., Hitachi Transport System Ltd. and Iteris Inc.
Global IoT in Intelligent Transportation System Market: Overview
AnchorThis report on the global IoT in intelligent transportation system market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global IoT in intelligent transportation system market growth during the said period. IoT solutions that are playing a major role in driving the global IoT in intelligent transportation system market have also been covered in the study.
The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of revenue and volume estimates (in US$ Bn & Thousand Units), across different geographies. Internet of things (IoT) is transforming the transportation sector with the generation of intelligent transportation system (ITS) that is eventually optimizing logistics & fleet management, movement of people, goods & services, traffic management and driver assistance. Intelligent transportation system helps in automating railways, roadways, airways and marine which enhances customer experience about the way goods are transported, tracked and delivered.
The report also includes key industry developments in the IoT in Intelligent transportation system market. Porter Five Force analysis is also included in the report. Value chain analysis which identifies the process of distribution of the IoT solutions in transportation is also covered in the report. The report also covers segment wise, market attractiveness analysis and market positioning analysis for all regions covered in the scope of study.
This report shows market attractiveness analysis for all the segments and for all the regions in the scope of the study which identifies and compares segments market attractiveness on the basis of CAGR and market share index.
Global IoT in Intelligent Transportation System Market: Segmentation
The IoT in intelligent transportation system market has been segmented on the basis of components and end-use vertical. Based on component, the market has been classified into hardware, software and services. The hardware component is further classified into sensors, cameras, screen/display, networking hardware, positioning hardware and others. The software component is further segmented into ticketing, advance driver assistance, traffic management, operation, passenger, logistics & fleet solutions and others. The services component is further classifies as support service, maintenance and management service, installation and integration services. By end-use vertical, the market is further classified into roadways, railway, airways and maritime.
Geographically, the report is segmented into the IoT in intelligent transportation system market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America; the regions are analyzed in terms of revenue and volume generation. Furthermore, the study also includes quantitative analysis of the competitive scenario for region wise prominent countries which are covered in the report include the following - the U.S, Canada, Germany, France, the U.K., China, India, Japan, Australia, GCC, Brazil and Argentina. The market size and forecast for each region has been provided for the period from 2015 to 2025 along with the CAGR (%) for the forecast period from 2017 to 2025.
Global IoT in Intelligent Transportation System Market: Competitive Landscape
The report also includes competition landscape which include competition matrix, market position analysis of major players in the global IoT in Intelligent transportation system market based on their 2016 revenues, profiling of major players. Competition matrix benchmarks leading players on the basis of their capabilities and potential to grow. Factors including market position, offerings and R&D focus are attributed to company’s capabilities. Factors including top line growth, market share, segment growth, infrastructure facilities and future outlook are attributed to company’s potential to grow. This section also identifies and includes various recent developments carried out by the leading players.
Company profiling includes company overview, major business strategies adopted, SWOT analysis and market revenues for past years. The key players profiled in the global IoT in
intelligent transportation system market include Cisco Systems, Intel Corporation, 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.
The global IoT in intelligent transportation system market is segmented as below:
Global IoT in Intelligent Transportation System Market, By Component
- Networking hardware (Antennas, Routers, Hub, RFID, NFC)
- Positioning Hardware
- Advance driver assistance
- Traffic management
- Intelligent Signalling
- Traffic Analytics
- Communication Solutions
- The incident detection
- Passenger Management
- Revenue Management
- Workforce Management
- Station/On-Board System
- Location based information
- Multimedia Solutions
- Logistics and Fleet Solutions
- Management Solutions
- Tracking Solutions
- Support Service
- Maintenance and Management Service
- Installation and Integration Services
Global IoT in Intelligent Transportation System Market, By End-Use Vertical
Global IoT in Intelligent Transportation System Market, By Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America