Global IoT in Transportation Market to 2030 - Opportunity Analysis and Industry Forecasts

DUBLIN, May 4, 2022 /PRNewswire/ -- The "IoT in Transportation Market by Type, Mode of Transport, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the global IoT in transportation market size was valued at $83.25 billion in 2020, and is projected to reach $495.57 billion by 2030, registering a CAGR of 19.9% from 2021 to 2030. 

The Internet of Things (IoT) is the interconnection of physical equipment and vehicles, with applications in industries such as automobile, electronics, insurance, manufacturing, and retail. It uses device interconnectivity to control or detect items remotely. It provides a number of services, including traffic congestion control, automobile telematics, and reservation, toll and ticketing systems, security and surveillance systems, remote monitoring, and more. It's found in smart homes, smart cities, smart grids, and virtual power plants, among other things. The Internet of Things (IoT) is one of the most important platforms for applications such as smart energy management systems (SEMS) and smart cities.

Enhanced internet penetration and decreased cost of powerful sensors & controllers drive the growth of the market. In addition, growth in information, communication, & technology (ICT) fuels the growth of the market. However, poor internet infrastructure in the developing nations is expected to impede the market growth. Furthermore, adoption of cloud computing and analytics is expected to provide lucrative opportunities for the market growth.

The global IoT in transportation market is segmented based on type, mode of transport, application, and geography. Based on type, it is categorized into hardware, software, and services. Based on mode of transport, it is divided into roadways, railways, airways, and maritime. Based on application, it is classified into traffic congestion control systems; automotive telematics; reservation, toll, & ticketing systems; security & surveillance systems; remote monitoring; and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global IoT in transportation market includes Alcatel-Lucent, AT&T Inc., Garmin International Inc., IBM Corp., Denso Corp., Thales Group, General Electric, Verizon Communications Inc., Cisco Systems, Inc., and TomTom N.V. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits 

• The study provides an in-depth analysis of the global IoT in transportation market forecast along with the current trends and future estimations to explain the imminent investment pockets
• Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report
• Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry
• The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential

Key Topics Covered:

Chpter 1: Introduction

For more information about this report visit https://www.researchandmarkets.com/r/3351ah?

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