The IoT in Intelligent Transportation Systems Market is expected to grow from USD 77.8 billion in 2020 to USD 274.3 billion by 2026 at a CAGR of 19.7% from 2020 to 2026.
The requirement to manage the transportation systems has emerged with a rising population. With the swift advancements in technology, the integration of data analytics and the Internet of Things (IoT) has resulted in the formation of another interdisciplinary of the IoT referred as Intelligent Transportation Systems. It is an advanced application used to offer more efficient transportation management services where customers can have a better plan of traffic management and the network of transportation routes. IoT in intelligent transportation system is being adopted for smart parking solutions, passenger entertainment, traffic management solutions, fleet management and telematics solutions and security solutions. In addition to this, they help in advanced transportation management system which comprises of traffic control, electronic toll collection and management of networking solutions. Internet of things in intelligence transportation management system utilizes sensing, communications and data-processing technologies to minimize traffic problems and sudden mishaps. New generation IoT based intelligent transportation systems with enhanced performance providing higher precision and flexibility, with easy incorporation into systems will spur the growth in IoT based intelligent transportation systems industry. Besides, a paradigm inclination towards a connected world and rising need for miniaturization is compelling further advancement in the IoT based intelligent transportation systems market and develop smarter products. In addition, the research and development in the IoT based intelligent transportation systems industry to cut down costs and enhance functionality are projected to advance in the medium term. Autonomous vehicles are likely to hit the mainstream as well as rapid increase in AI computing capabilities with better commercials are providing immense opportunities in the IoT Based Intelligent Transportation Systems market. Moreover, the integration of transportation systems coupled with big data analytics and significant emphasis on the research and development of IoT-associated software acts as a major driver in the global IoT based intelligent transportation systems market. On the other hand, the rising complexity in the big data analytics will restrain the market growth.
Few other factors such as the increase in internet penetration, infrastructural development, surge in demand for automation and analytics are the factors which minimize the cost of powerful sensors and controllers utilized in the transportation sector will drive the market growth. Moreover, several tools and software offered by the key market players is used to optimize devices which helps minimize costs and manages the connectivity of devices effectively. Furthermore, the implementation of government rules and regulations is creating more opportunities in the market. Also the data centers are likely to benefit from the deployment of IoT in intelligence transportation system.
The global IoT in Intelligent Transportation Systems Market is segregated on the basis of component as Semiconductor components and Wireless/cellular components. Based on Type the global IoT in Intelligent Transportation Systems Market is segmented in Product, Software and Service. Based on Vertical the global IoT in Intelligent Transportation Systems Market is segmented in Roadways, Railways, Airways and Maritime. Based on Application the global IoT in Intelligent Transportation Systems Market is segmented in Telematics, Infotainment and Advanced driver assistance system.
The global IoT in Intelligent Transportation Systems Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The IoT in Intelligent Transportation Systems Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Cisco Systems, Intel Corporation, Cubic Transportation Systems, Siemens AG, Thales Group and others are among the major players in the global IoT in Intelligent Transportation Systems Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global IoT in Intelligent Transportation Systems Market has been segmented as below:
IoT in Intelligent Transportation Systems Market, By Component
IoT in Intelligent Transportation Systems Market, By Type
IoT in Intelligent Transportation Systems Market, By Vertical
IoT in Intelligent Transportation Systems Market, By Application
IoT in Intelligent Transportation Systems Market, By Region
IoT in Intelligent Transportation Systems Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global IoT in Intelligent Transportation Systems Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global IoT in Intelligent Transportation Systems Market share. Major industry players with significant revenue share include Cisco Systems, Intel Corporation, Cubic Transportation Systems, Siemens AG, Thales Group and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. IoT in Intelligent Transportation Systems Market, By Component
5.1. Key Points
5.2. Semiconductor components
5.3. Wireless/cellular components
6. IoT in Intelligent Transportation Systems Market, By Type
6.1. Key Points
6.2. Product
6.3. Software
6.4. Service
7. IoT in Intelligent Transportation Systems Market, By Vertical
7.1. Key Points
7.2. Roadways
7.3. Railways
7.4. Airways
7.5. Maritime
8. IoT in Intelligent Transportation Systems Market, By Application
8.1. Key Points
8.2. Telematics
8.3. Infotainment
8.4. Advanced driver assistance system
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- IoT in Intelligent Transportation Systems Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. Cisco System
10.2. Intel Corporation
10.3. Cubic Transportation Systems
10.4. Siemens AG
10.5. Thales Group
10.6. TomTom NV
10.7. TransCore Holdings
10.8. Verizon Telematics
10.9. Microsoft Corporation
10.10.Garmin Ltd
10.11. NEC Corporation
10.12. Watson Internet of Things (IBM)
10.13. Huawei Technologies
10.14. Hitachi Transport System
10.15. Iteris Inc.
IoT in Intelligent Transportation Systems Market, By Component
IoT in Intelligent Transportation Systems Market, By Type
IoT in Intelligent Transportation Systems Market, By Vertical
IoT in Intelligent Transportation Systems Market, By Application
IoT in Intelligent Transportation Systems Market, By Company