According to a new market research report “IoT in Transportation Market by Components (Semiconductor, Wireless, and Others), Products, Software & Services, Verticals (Road, Rail, Air, and Maritime), Solutions, Applications, and Geography – Analysis & Forecast to 2014 – 2020”, the market is expected to have an extensive growth in the near future.
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The IoT market in intelligent transportation systems is expected to reach $143.93 billion by 2020 at an estimated CAGR of 8.95% from 2014 to 2020.
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.
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The report describes the market trends, drivers, and challenges with respect to the IoT in transportation market and forecasts the market till 2020. This global report gives a detailed view of the market across geographies The Americas, Europe, Asia-Pacific (APAC), Middle East, and Africa. The Americas is the largest geography in terms of the IoT in transportation market value. APAC has been identified as the fastest growing region. Europe has a very promising market, while the Middle East and Africa are also impetus to the growth. The report profiles 10 promising players in the IoT in transportation market.
The major players in this field include 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.), Intel Corp. (U.S.), and so on.
Browse 87 market data tables and 75 figures spread through 200 pages and in-depth TOC on “IoT in Transportation Market – Analysis & Forecast to 2014 – 2020″