IoT In Intelligent Transportation System Market Business Segmentation by Revenue, Present Scenario and Growth Prospects 2032

By connecting mobile devices, real-time data exchange and remote data access are made possible by IoT in intelligent transportation systems, making it simple for users to access transportation services.
IoT in intelligent transportation systems provides essential information for tracking driver behaviour, managing routes simply, analysing fuel usage, and many other key aspects.
With its real-time data transfer for better management of user schedules and enhanced communication through internet connectivity, IoT in intelligent transportation systems provides a better user experience and is anticipated to drive IoT in intelligent transportation systems market across the globe.
In developed economies, IoT integration with automobiles is gaining pace, which offers the market for intelligent transportation systems intriguing growth potential.
The Internet of Things (IoT) is altering virtually every aspect of how things works. Intelligent transportation systems are expected to have a significant impact in a number of areas, including transportation (ITS). It improves traffic control, driver assistance systems, and fleet management and logistics. ITS has made it possible to automate air, sea, rail, and road traffic.

Market: Key Drivers
IoT in the market for intelligent transportation systems is being driven by a growing focus on data collecting related to vehicle performance, tyre wear and tear tracking, telematics feedback, user driving behaviour, and vehicle efficiency.
The main drivers of the growth of the IoT in intelligent transportation systems market over the forecast period are the increased emphasis on R&D to enhance IoT integrated software and lower the cost associated with its operation.
In the upcoming years, it is projected that there will be a rise in the need for intelligent traffic control, increased transportation safety thanks to IoT-connected devices, and investments made by industry leaders to diversify their product lines with cutting-edge IoT-driven technology.
IoT is in high demand in the market for intelligent transportation systems as end-user sectors including infrastructure, automotive, and travel and tourism recognise the future potential of the technology. For instance, in January 2019, Iteris, Inc., a provider of software and solutions for intelligent transportation and agriculture, partnered with Cisco Systems Inc. to enable the company to incorporate IoT solutions offered by the latter company into its public transportation services in the United States.
The main obstacles impeding the expansion of IoT in the market for intelligent transportation systems, however, are rising data security concerns and expensive setup costs.

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Global IoT in Intelligent Transportation System Market: Major Players
• Watson Internet of Things (IBM)
• Huawei Technologies
• NEC Corporation
• Cisco Systems
• TomTom NV
• Microsoft Corporation
• Siemens AG
• Intel Corporation
• Verizon Telematics
• Iteris Inc.
• Thales Group
• Hitachi Transport System
• Cubic Transportation Systems
• TransCore Holdings
• Garmin Ltd

Global IoT in Intelligent Transportation System Market: By Types
• Hardware
• Software
• Services

Global IoT in Intelligent Transportation System Market: By Applications
• Roadway
• Railway
• Airway
• Maritime

Global IoT in Intelligent Transportation System Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global IoT in Intelligent Transportation System market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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