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. Africa is the leading region in the overall market, followed
by Asia-Pacific (APAC) and the Middle East.
IOT is increasingly
demanding more evolved devices from the semiconductor industry, with long
lasting battery technologies, low power consumption, and the ability to
accurately process and store data at lower costs. The report segments IoT in
transportation market into six different segments such as component, products
& software services, verticals, solutions, application, and geography.
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The concept of IoT
has gone beyond the machine-to-machine (M2M) communication. With technological
advancements and our increasing dependence on them in the day-to-day lives, it
is evident that the IoT concept has a promising future. With the rate of
proliferation of the wireless sensors network, the increasing adoption of
emerging technologies and mainstreaming of many smart consumer applications,
IoT is on its way to becoming the big thing. Few trends in the technology and
application segments are projected to shape the future of IoT. Some of these
critical technology trends, which are expected to have a huge impact on the IoT
evolution, are big data, cloud computing, IPV6, wireless sensor network
proliferation, and faster communication standards such as 4G-LTE and beyond.
The opportunities
for IoT in transportation market are extremely high and mainly depend on
organizations for adopting technological changes that are ever-increasing. With
such a rapid change, it would be possible to have excellent quality of experience
as well as better economic opportunities for users, governments, and
businesses.
The IoT in
transportation market is divided in to six segments, namely components,
products, software & services, verticals, solutions, and applications &
geography. The market, by component, includes the differentiation of components
that are used to enable the proper operation of the technology. The market, by
product, software, and service, gives an in-depth analysis, which helps in
facilitating the growth of IoT in the transportation ecosystem. However, in
case of the market size growth, the market and the product, software, and
service market are taken as mutually exclusive from each other. The verticals
included in IoT in transportation market are roadway, railway, airway, and
maritime. Furthermore, the solution segment includes traffic, asset, ticketing,
supervision, operations, passenger information, maintenance, and logistics.
The applications
segment covers the major applications of IoT in transportation market that are
divided into four segments, namely telematics, infotainment, advanced driver
assistance system, and so on. Moreover, the IoT market in intelligent
transportation systems, by geography, has been divided based on geographic
locations of the countries that include the Americas, Europe, APAC, Middle
East, and Africa. The Americas is the largest market, by geography, which is
due to the easy availability of infrastructure for the deployment of IoT in
transportation in this region.
There are many
companies that have their presence in IoT in transportation market. The
players involved in the IoT market include a host of companies, right from the
semiconductor OEMs to network operators, software companies, and networking
equipment providers. The report profiles all the prominent companies involved
in the field of IoT, such as Garmin International, Ltd. (U.S.), Thales Group
(France), TomTom N.V. (The Netherlands), Denso Corp. (Japan), Alcatel-Lucent
(France), Sierra Wireless, Inc. (Canada), AT&T, Inc. (U.S), Verizon
Communications (U.S.), and Intel Corp. (U.S).
