IOT IN TRANSPORTATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
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New mobility and payment trends
Rapid adoption of IoT technologies in transport is driven by new mobility trends and demands from consumers for smarter, personalized mobility solutions. The preference for shared, on-demand and low-cost mobility has led to rise of shared mobility services like ride-hailing and car-sharing that are heavily dependent on IoT connectivity. Being connected allows such fleet vehicles to be seamlessly booked, tracked and paid for digitally using mobile apps. It has made mobility more affordable and flexible as compared to traditional public or private transport. IoT enabled shared electric scooters and bikes have gained popularity globally as people prefer short point-to-point trips within cities.
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