IoT in Transportation Market High-Flying Market Size to Drive Big Profits in the Future | Alcatel-Lucent, AT&T , Garmin International

Internet of Things (IoT) is the internetworking of physical devices and vehicles, providing solutions to various industry verticals such as, automotive, electronics, insurance, manufacturing, and retail. It controls or remotely senses the objects through interconnectivity of devices. It offers various services such as, traffic congestion control system, automotive telematics, and reservation, toll & ticketing systems, security and surveillance system, remote monitoring, and others. It is incorporated in various technologies such as smart homes, smart cities, smart grids, and virtual power plants. IoT is one of the major platforms, which provide applications such as, smart energy management system (SEMS) and smart city.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market.Global ICT exports are anticipated to increase 3.9% on average year fromUS$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by228.2%year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

The global IoT in transportation market has witnessed significant growth in the recent years, and is expected to continue this trend in the near future. Moreover, plummeting cost of connected devices, such as sensors & controllers, assist key players to increase their customer base in the global market. Furthermore, growth in wireless technologies, such as Insteon, Zigbee, and Z-wave, is expected to fuel the market growth. However, data piracy and poor internet infrastructure in the developing and the underdeveloped regions hinder the market growth.

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The global IoT in transportation market is segmented based on type, mode of transport, application, and geography. Based on type, it is categorized into hardware, software, and services. Based on mode of transport, it is divided into roadways, railways, airways, and maritime. Based on application, it is classified into traffic congestion control system; automotive telematics; reservation, toll, & ticketing systems; security & surveillance system; remote monitoring; and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS

In-depth analyses of the global IoT in transportation market and dynamics are provided to understand the market scenario.
Quantitative analyses of the current trends and future estimations from 2017 to 2023 are provided to assist strategists and stakeholders to capitalize on the prevailing opportunities.
Porter's five forces analysis examines the competitive structure of the global market and explains about the factors that influence the market entry and expansion.
A detailed analysis of various regions enables identification of profitable segments for the market players.
Comprehensive analyses of the trends, sub segments, and key revenue pockets are provided in the report.
Detailed analyses of the key players operating in the global market and their business strategies are anticipated to assist stakeholders to take informed business decisions.

The key players profiled in the report are as follows

Alcatel-Lucent
AT&T Inc.
Garmin International Inc.
IBM Corp.
Denso Corp.
Thales Group,
General Electric
Verizon Communications Inc.
Cisco Systems, Inc.
TomTom N.V.

KEY MARKET SEGMENTS

BY COMPONENT

Hardware
Software
Services

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BY MODE OF TRANSPORT

Roadways
Railways
Airways
Maritime

BY APPLICATION

Traffic Congestion Control System
Automotive Telematics
Reservation, Toll, & Ticketing Systems
Security & Surveillance System
Remote Monitoring
Others

BY GEOGRAPHY

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

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