According to the latest report by IMARC Group, titled “IoT in Transportation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global IoT in transportation market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global IoT in transportation market size reached a value of US$ 97.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 315.5 Billion by 2027, exhibiting a CAGR of 20.60% during 2022-2027.

The Internet of Things (IoT) is a technology-based approach connecting physical devices, vehicles, and objects to the internet. It relies on sensors, actuators, and other connected devices to collect and transmit data about real-world activities such as road conditions, traffic patterns, driving habits, fuel consumption, and speed alerts. It has a variety of applications in transportation, including remote monitoring, traffic management, automotive telematics, security systems, reservation systems, and toll and ticketing systems. It can help improve safety, optimize operations, enhance the customer experience, and streamline maintenance processes by providing real-time monitoring and remote diagnosis. As a result, IoT in transportation is gaining immense traction in airways, railways, maritime, and roadways across the globe.

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IoT In Transportation Market Trends and Drivers:

The global IoT in transportation market is primarily driven by the growing demand for urban transportation options. Moreover, there is a rise in the use of IoT in railway systems to manage timetables, check passenger flow, optimize capacity, and perform predictive maintenance.

In line with this, the development of smart railway systems, which incorporate IoT-enabled sensors and devices to monitor equipment performance and environmental conditions, is positively influencing the market growth. Additionally, the rising popularity of connected mobility solutions for roadway vehicles, which aim to reduce commute time and traffic congestion, is propelling the market growth.

Other factors, including improved internet connectivity, rapid growth in the information and communications technology (ICT) sector, and inflating consumer disposable incomes, are also anticipated to drive the market further.

Global IoT In Transportation Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

IoT In Transportation Companies:

Alcatel-Lucent Enterprise (China Huaxin Post and Telecom Technologies Co. Limited), AT&T Inc., Cisco Systems Inc., DENSO Corporation, Garmin Ltd, International Business Machines Corporation, Microsoft Corporation, Sierra Wireless Inc., Software Aktiengesellschaft, Thales Group, TomTom N.V. and Verizon Communications Inc.

The report has segmented the market on the basis of region, type, mode of transport and application.

Breakup by Type:

  • Hardware
  • Software
  • Services

Breakup by Mode of Transport:

  • Roadways
  • Railways
  • Airways
  • Maritime

Breakup by Application:

  • Traffic Congestion Control Systems
  • Automotive Telematics
  • Reservation, Toll and Ticketing Systems
  • Security and Surveillance Systems
  • Remote Monitoring
  • Others

 Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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 Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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