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(Wireless-NewsWire.Com, October 07, 2017 ) IoT is the most effective technology that has been progressing well in the present time and many applications are being developed based on this technology, transport is one of them. The advent of an intelligent transportation system in the transport industry will optimize the movement of people and goods, improving economics, public safety and the environment. All such advantages are causing a stir in the transportation industry thereby indicating a bright future for the IoT in intelligent transportation system market, worldwide. To further elaborate on this rapidly growing market activity, Market Research Hub (MRH) has recently broadcasted a new study to its wide repository, which is titled as “IoT in Intelligent Transportation System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025”. The study is a smart collection of data which offers a clear market overview and future evaluation considering major dynamics playing a significant role during the period of 2017-2025.
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As per the report key highlights, the market is predicted to rise at a 19.8% CAGR during the period between 2017 and 2025. At this pace, the market will likely attain a value of US$249.84 bn by the end of 2025 from US$41.57 bn in 2015. Rising congestion on urban roads and growing accidents which need smart transport management solutions leveraging sensing, communications, and data processing technologies are already serving to drive the IoT in intelligent transportation market.
The above findings have been presented in a vital section of the report which comprises qualitative analysis of the overall mobile packaging market considering the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s five force analysis. At first, the report includes discussion of key industry developments in the IoT in Intelligent transportation system market. The research finds that intelligent transportation system is a popular term in transport sector, as it helps in automating railways, roadways, airways and marine which enhances customer experience about the way goods are transported, tracked and delivered.
Moreover, in order to understand and assess opportunities in this market, the report is categorically divided into four key sections on the basis of components and end-user vertical. Apart from that, the IoT in intelligent transportation system market has been analyzed in some of the prime regions, such as North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America; the regions are analyzed in terms of revenue and volume generation. Based on component, the market has been classified into hardware, software and services. Of these, hardware accounted for maximum share in revenue in 2016. While in terms of geography North America at present dominates the market.
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In the later part, the report contains details about the competitive landscape of the market. This competitive landscape offers a dashboard view of the key companies along with market share and company profiles. Key players active in the intelligent transportation system market include Cisco Systems, Thales Group, Cubic Transportation Systems, Garmin Ltd, Siemens AG, TransCore Holdings, Inc., Verizon Telematics, TomTom NV, Intel Corporation, Microsoft Corporation, NEC Corporation, Hitachi Transport System Ltd., Watson Internet of Things (IBM), Huawei Technologies Co., Ltd. and Iteris Inc.
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