Published Date : Aug 08, 2016
ALBANY, NY, Aug 08, 2016: MarketResearchReports.biz has announced the addition of a new report, titled “Global IoT Market in the Transportation Sector 2016-2020,” to its database. The report consists of highlights of the global IoT market in the transportation sector. A detailed market overview and the various offerings from the key vendors have been presented in the report. It also offers insights into the research methodology and economic indicators used in compiling the research report. Various research tools such as market attractiveness reports and Porter’s five forces reports have been used to carry out the reports.
The Internet of Things (IoT) has evolved as a key tool to fulfill the crucial need for efficient network connectivity beyond smartphones and other telecommunications devices. The IoT is an embedded system with software, electronics, sensors, and actuators allowing data transfer and reception between machines or between machines and human interfaces. It is becoming increasingly popular in various sectors such as retail, energy and utilities, healthcare, and transportation.
The report discusses various market dynamics such as drivers, restraints, and trends, and their market impact. Incorporation of IoT in the transportation sector enables automated transport management solutions, which increase the security, safety, visibility, and efficiency of tracking systems, and also decrease the transportation costs. IoT-enabled smart devices also enable the tracking and monitoring of real-time vehicle position, thereby helping manage the logistics operation. These factors fuel the growth of the global IoT market in the transportation sector.
Another trend impacting the growth of the global IoT market in the transportation sector is the growing use of intelligent transportation systems (ITS). The integration of IoT and ITS enables the transition of messages and signals from one vehicle to another for monitoring and tracking on a real-time basis. This feature has assured greater safety in commercial and passenger vehicles. However, the complexity of integrating the various applications is impeding the growth of the global IoT market in the transportation sector.
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According to the report, the global IoT market in the transportation sector is anticipated to rise at a CAGR of nearly 17% from 2016 to 2020. The market has been segmented based on various criteria such as transportation modes and geography. In terms of geography, the global IoT market in the transportation sector is segmented into the Americas, EMEA, and APAC. The Americas are the leading segment by revenue owing to the increasing transportation issues, such as the increasing environmental threat from vehicle pollution, traffic congestion, and passenger safety. In addition, growth in the investments in vehicle safety applications will fuel the growth of the market. In 2015, this segment accounted for a share of 40% in the global IoT market in the transportation sector.
By mode, the market is segmented into road transportation, air transportation, railway transportation, and marine transportation. The road transportation segment was the leading segment in terms of revenue and represented nearly 29% of the overall market. The leadership of the segment can be attributed to the increasing traffic congestion on the road.
In the final section, the report presents a comprehensive overview of the competitive landscape and the market’s growth prospects in the near future. It also offers a detailed discussion of the key players dealing in the market. The key players in the global IoT market in the transportation sector are AT&T, Alcatel-Lucent, Intel, Cisco Systems, and IBM. Some other vendors influencing the market are Google, GE, ARM Holdings, Amazon Web Services (AWS), Ericsson, Dell, Microsoft, Huawei, Oracle, RTI, Qualcomm, SAP, and Telefonica.
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