Global IoT in Intelligent Transport System Market to Reach US$ 29.2 Billion by 2032, Exhibiting a CAGR of 7.5% from 2025 to 2032

The global IoT in intelligent transport system (ITS) market is projected to achieve a valuation of US$ 29.2 billion by 2032, expanding at a steady CAGR of 7.5% between 2025 and 2032, according to the latest industry analysis. The market stood at US$ 17.6 billion in 2025, driven by increasing adoption of connected vehicle technologies, smart city initiatives, and the integration of IoT solutions into urban mobility systems.

The new Persistence Market Research study delivers an in-depth analysis of this dynamic market, offering a comprehensive evaluation of qualitative and quantitative insights, market trends, competitive intelligence, technological roadmaps, and strategic growth opportunities. The report provides valuable information for stakeholders, decision-makers, investors, and policymakers aiming to understand the evolving landscape of intelligent transportation driven by IoT technologies.

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Scope of the Report

The report on the IoT in Intelligent Transport System Market offers a holistic view of current and future market conditions, highlighting factors influencing growth, technological innovations, competitive strategies, and consumer behavior.

It covers:

Historical Data (2019-2024) for accurate trend analysis
Forecast Data (2025-2032) for informed business decisions
Market Valuation in US$ Billion, along with volume metrics where applicable
Regional and Country-Level Insights across North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa
Primary and Secondary Research Methodologies, ensuring data authenticity and reliability

This report also investigates the intersection of IoT technologies-such as sensors, telematics, connectivity modules, and AI-with intelligent transportation frameworks including roadways, railways, airways, and maritime logistics.

Highlights and Key Insights of the Report

• The IoT in Intelligent Transport System Market is expected to grow from US$ 17.6 billion in 2025 to US$ 29.2 billion by 2032, at a CAGR of 7.5%.
• IoT-enabled telematics and vehicle-to-everything (V2X) communications are key drivers, improving road safety, traffic management, and energy efficiency.
• Growing smart city investments in the United States, China, India, and Western Europe are propelling market adoption.
• Rising demand for advanced driver assistance systems (ADAS) and predictive maintenance is reshaping transport ecosystems.
• Increasing government initiatives toward reducing traffic congestion, emissions, and accidents through IoT-driven solutions are fueling expansion.
• Hardware components, including sensors, cameras, and communication modules, currently account for the largest market share, but software and services are projected to experience higher growth due to the surge in data analytics and integration platforms.
• The report includes competitive benchmarking, SWOT analysis, and value chain assessment for key market participants.
• Advanced analytics and AI-based IoT platforms are creating new revenue pockets for system integrators and service providers.
• The study presents a pricing analysis and technology roadmap, guiding stakeholders toward the most lucrative investment opportunities.

Key Players Highlighted in This Report

• Cisco Systems Inc.
• Garmin International Inc.
• Thales Group
• TomTom NV
• Denso Corp
• Sierra Wireless Inc.
• IBM Corporation
• AT&T Inc.
• Nuance Communications
• Alcatel-Lucent

These companies are focusing on strategic partnerships, acquisitions, and product innovations to strengthen their presence in the IoT-enabled transportation ecosystem.

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IoT in Intelligent Transport System Market Outlook by Category:

By Component:

• Hardware
• Software
• Services

By Vertical:

• Roadways
• Railways
• Airways
• Maritime

By Application:

• Telematics
• Infotainment
• Advanced Driver Assistance System (ADAS)

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Regional Overview

North America

North America leads the global market, driven by strong technology infrastructure, widespread adoption of connected vehicles, and active smart city development programs. The United States dominates the regional landscape, with high investments in IoT-based transport analytics, traffic management, and autonomous mobility systems. Canada also contributes significantly through government-backed smart mobility initiatives.

Europe

Europe's market is supported by stringent government regulations on emissions and safety, promoting IoT adoption in road transport and logistics. Countries such as Germany, the UK, France, and Italy are integrating IoT into public transport and freight networks. TomTom NV and Thales Group play key roles in advancing ITS solutions across the region.

Asia Pacific

The Asia Pacific region presents the fastest-growing market, supported by rapid urbanization, increasing vehicle population, and government investments in smart transportation. China, India, Japan, and South Korea are major contributors. IoT adoption is being accelerated by initiatives such as China's "New Infrastructure Plan" and India's "Smart Cities Mission."

Latin America

Countries like Brazil and Mexico are witnessing gradual IoT integration into transport networks, mainly through public-private collaborations aimed at improving road safety and reducing congestion.

Middle East & Africa

The Gulf Cooperation Council (GCC) countries are embracing intelligent transport systems as part of their Vision 2030 strategies, focusing on sustainable mobility. In Africa, countries such as South Africa and Kenya are beginning to explore IoT-based fleet management systems for logistics efficiency.

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Reasons to Purchase this Report

• Comprehensive analysis of the IoT in Intelligent Transport System Market (2019-2032) with detailed segmentation and forecasts.
• Access to quantitative market data and qualitative strategic insights for informed decision-making.
• In-depth understanding of technological advancements, competitive strategies, and market dynamics.
• Evaluation of SWOT, Porter's Five Forces, and PESTLE analysis for competitive benchmarking.
• Detailed insights into regional and country-level market performance.
• Coverage of growth drivers, restraints, challenges, and opportunities shaping market evolution.
• Identification of emerging technologies and future investment hotspots.
• Inclusion of pricing trends, cost structure analysis, and value chain mapping.

Important Issues Resolved in the Report

1. What is the projected market size of the IoT in Intelligent Transport System Market by 2032?
→ The market is expected to reach US$ 29.2 billion by 2032.

2. What is the anticipated CAGR for the forecast period (2025-2032)?
→ The market is projected to expand at a CAGR of 7.5%.

3. Which region currently leads the global market?
→ North America remains the largest market, followed by Europe and Asia Pacific.

4. What are the key factors driving market growth?
→ Rising adoption of connected vehicle technologies, government support for smart cities, traffic management needs, and advancements in IoT connectivity.

5. Who are the top market players?
→ Leading players include Cisco Systems, Garmin International, Thales Group, TomTom NV, IBM, and AT&T Inc.

6. Which segments are expected to show the highest growth?
→ The software and services segments are expected to experience the fastest growth due to demand for analytics and integration platforms.

7. What are the major challenges in this market?
→ Data privacy concerns, high deployment costs, lack of standardization, and limited interoperability across IoT platforms.

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The future of the IoT in Intelligent Transport System Market looks promising, with advancements in AI, 5G connectivity, and edge computing reshaping transportation networks. As governments and enterprises strive to create sustainable, safe, and efficient mobility systems, IoT will play a central role in real-time data exchange, predictive analytics, and automated decision-making.

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