IOT IN TRANSPORTATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global IoT in transportation market growth is driven by increasing connectivity and adoption of advanced technologies across automotive, logistics and transportation infrastructure sectors. IoT devices help transport operators to improve efficiency, enhance safety and optimize asset usage. Connected vehicles integrated with IoT sensors generate large volumes of useful data that can be analyzed for predictive maintenance, traffic management and consumer experience improvements. Furthermore, IoT technologies enable real-time tracking of shipments and assets, automated toll collection systems and smart parking solutions among others. Growing autonomous vehicles can boost IoT investments as vehicle-to-everything communication becomes essential for coordination between self-driving cars and transportation networks. Data privacy and security concerns can hamper the market growth.

Market Dynamics:

Global IoT in transportation market growth is driven by rising demand for optimized resource utilization, real-time monitoring solutions and safety & efficiency improvements across transport sectors. Increasing connected vehicles, infrastructure developments supporting vehicle communication technologies, adoption of predictive analytics for asset maintenance and increasing investments in autonomous driving can drive the market growth. However, high setup costs and integration challenges can hamper the wider adoption of IoT systems. Data privacy risks and cybersecurity threats can also pose challenges for the market growth. Major market players are focusing on developing advanced and affordable connectivity solutions to tap opportunities arising from trends like car sharing, drone deliveries and smart logistics. Technology advancements in 5G, edge computing, AI and blockchain can offer new opportunities for innovation in IoT powered transportation services and infrastructure. Ongoing collaboration between technology companies, automotive OEMs and infrastructure developers is crucial for realizing the full potential of IoT in transforming mobility.

Key features of the study:

- This report provides in-depth analysis of the global IoT in transportation market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global IoT in transportation market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Amazon Web Services (AWS), ARM Holdings, Dell, Ericsson, Google, Huawei, IBM Corporation, Intel Corporation, Microsoft, Oracle, Qualcomm, RTI, SAP, Siemens, Telefonica

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- Global IoT in transportation market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global IoT in transportation market

Detailed Segmentation:

• By Component
  • Hardware
  • Software
  • Services
• By Mode of Transport
  • Roadways
  • Railways
  • Airways
  • Maritime
• By Application
  • Traffic congestion control system
  • Automotive telematics
  • Reservation, toll, & ticketing systems
  • Security and surveillance system
  • Remote monitoring
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • Amazon Web Services (AWS)
  • ARM Holdings
  • Dell
  • Ericsson
  • Google
  • Huawei
  • IBM Corporation
  • Intel Corporation
  • Microsoft
  • Oracle
  • Qualcomm
  • RTI
  • SAP
  • Siemens
  • Telefonica