IoT in Transportation Market to Reach $143.93B by 2020


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Research and Markets has announced the addition of the "IoT in Transportation Market by Components, Products, Software & Services, Verticals, Solutions, Applications, and Geography - Analysis & Forecast to 2014 - 2020" report to their offering.

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.

Key Take-Away:

- 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.

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