The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Transportation contributes 5%-10% of the GDP in most countries, which plays the key role in poverty reduction, inclusive growth, and sustainable development. Cities across the world are adopting clean and connected transport systems, including bus rapid transit and urban rail. Transportation in APAC made an investment of around $2.6 trillion during the period 2010–2020. The public transportation sector may radically change when smart devices and travelers are identifiable. Ticketing based on RFID is already widely available; for instance, 10 million daily travelers of the public transport system in Paris already have access to an electronic ticket.This report, based on the extensive research study on the IoT in transportation market, is aimed at identifying the main geographic regions where IoT in transportation is expected to bring about a game-changing revolution in the years to come. The report covers the entire spectrum of the market, along with the sub-segments, through extensive and detailed classifications. It segments the IoT in transportation market into five different segments, such as components, products, software & services, verticals, solutions, and application & geography. The IoT in transportation market is expected to reach $143.93 billion by 2020 at an estimated CAGR of 8.95% from 2014 to 2020. The Americas accounted for the leading market share in the overall IoT in transportation market, followed by Europe and APAC.
The report entails the market analysis and forecasts related to the IoT in transportation market, by component, product, software & service, vertical, and application & geography. It also highlights various IoT in transportation solutions, such as traffic, asset, ticketing, supervision, operations, passenger information, and maintenance, with an overview of their growth potential.
The report deals with all the driving factors, restraints, and opportunities for the IoT in transportation market, which is helpful in identifying the trends and key success factors for the industry. The report also profiles the major companies that are active in the field of developing and manufacturing IoT in transportation related devices along with their strategy, financial details, developments, and competitive landscape. It also highlights the winning imperatives and burning issues pertaining to the IoT in transportation sector.
The market is segmented into five major geographic regions, namely North America, South America, Europe, APAC, and RoW. The current and future trends for each region have been analyzed in this report. It also includes the Porter’s five forces model analysis, market share of the major players, and competitive landscaping.
- The IoT in transportation market is expected to grow at a CAGR of 8.95% during the forecast period of 2014–2020
- The value of IoT products and services would grow as more people use them (according to Metcalfe’s Law). Therefore, several firms are expected to be banding together for the “big bang” launches of IoT products and services; an example is the automotive sector, where the launch of ITS is imminent.
- In the future, the potential financial returns from its “productization” are arguably the biggest incentive for businesses to move ahead with IoT.
- Fitting sensors to existing products can result in new revenue streams and feedbacks into a virtuous circle of a better client service and enhanced product development.
- Innovation would follow new IoT-based products that are yet to be conceived. The most exciting possibilities, perhaps, are expected to emerge from the insight provided by the amount of new data being generated, captured, and analyzed as well as the value that is generated from such information. Connecting 50bn smart things together is going to make the business of “big data” a whole lot bigger.
The report also provides a detailed competitive landscape with the identification of the key players, along with the in-depth market share analysis of their individual revenue.