IOT is increasingly demanding more evolved devices from the semiconductor industry, with long lasting battery technologies, low power consumption, and the ability to accurately process and store data at lower costs. The report segments IoT in transportation market into six different segments such as component, products & software services, verticals, solutions, application, and geography.
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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. Africa is the leading region in the overall market, followed by Asia-Pacific (APAC) and the Middle East.
The concept of IoT has gone beyond the machine-to-machine (M2M) communication. With technological advancements and our increasing dependence on them in the day-to-day lives, it is evident that the IoT concept has a promising future. With the rate of proliferation of the wireless sensors network, the increasing adoption of emerging technologies and mainstreaming of many smart consumer applications, IoT is on its way to becoming the big thing. Few trends in the technology and application segments are projected to shape the future of IoT. Some of these critical technology trends, which are expected to have a huge impact on the IoT evolution, are big data, cloud computing, IPV6, wireless sensor network proliferation, and faster communication standards such as 4G-LTE and beyond.
The opportunities for IoT in transportation market are extremely high and mainly depend on organizations for adopting technological changes that are ever-increasing. With such a rapid change, it would be possible to have excellent quality of experience as well as better economic opportunities for users, governments, and businesses.
The IoT in transportation market is divided in to six segments, namely components, products, software & services, verticals, solutions, and applications & geography. The market, by component, includes the differentiation of components that are used to enable the proper operation of the technology. The market, by product, software, and service, gives an in-depth analysis, which helps in facilitating the growth of IoT in the transportation ecosystem. However, in case of the market size growth, the market and the product, software, and service market are taken as mutually exclusive from each other. The verticals included in IoT in transportation market are roadway, railway, airway, and maritime. Furthermore, the solution segment includes traffic, asset, ticketing, supervision, operations, passenger information, maintenance, and logistics.
The applications segment covers the major applications of IoT in transportation market that are divided into four segments, namely telematics, infotainment, advanced driver assistance system, and so on. Moreover, the IoT market in intelligent transportation systems, by geography, has been divided based on geographic locations of the countries that include the Americas, Europe, APAC, Middle East, and Africa. The Americas is the largest market, by geography, which is due to the easy availability of infrastructure for the deployment of IoT in transportation in this region.
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There are many companies that have their presence in IoT in transportation market. The players involved in the IoT market include a host of companies, right from the semiconductor OEMs to network operators, software companies, and networking equipment providers. The report profiles all the prominent companies involved in the field of IoT, such as Garmin International, Ltd. (U.S.), Thales Group (France), TomTom N.V. (The Netherlands), Denso Corp. (Japan), Alcatel-Lucent (France), Sierra Wireless, Inc. (Canada), AT&T, Inc. (U.S), Verizon Communications (U.S.), and Intel Corp. (U.S).