Published Date : Apr 10, 2018
ALBANY, New York, Apr 10, 2018 – An intelligence report on the IoT in transportation market has been added to the burgeoning portfolio of MarketResearchReports.biz. Titled, “Global IoT in Transportation Market Size, Status and Forecast 2025,” the comprehensive report discusses the trends and predictions regarding the market in the coming years.
Transportation contributes 5%-10% of the GDP in most countries, which plays the key role in poverty reduction, inclusive growth, and sustainable development. Cities across the world are adopting clean and connected transport systems, including bus rapid transit and urban rail.
The adoption of IoT in the transportation industry has led to the incorporation of various tools & services that facilitate better transport management through traffic congestion control system; automotive telematics; reservation; toll & ticketing systems; security and surveillance system; remote monitoring; & others. Furthermore, the major tools used in the global industry include omnichannel commerce solutions, sales, inventory & operations planning, manufacturing & supply chain optimization, quality monitoring, system software development & integration, big data & edge data analytics, and fleet reliability reports.
The adoption of IoT in the transportation industry facilitates better operation & control, material management, energy management, traffic planning, staff & passenger information management, data analytics, and others. Moreover, it offers unscheduled aircraft maintenance, tail allocation, sensory inputs, reliable & secure communications, and cloud application development services.
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One of the primary drivers for this market is the rising need to automate transportation management systems. Automated transport management solutions increase safety, security, and visibility, the efficiency of tracking systems, and also reduce the transportation costs. The IoT-enabled smart devices help to manage the logistics operations by monitoring and tracking real-time vehicle position in the supply chain management system. The increasing adoption of intelligent transportation management solution in the transportation sector will augment growth in this market during the forecast period.
Intelligent Transport Systems (ITS) use a set of integrated technologies such as communication systems, sensors, and smart devices to connect the transportation system in a real-time environment. The incorporation of intelligent systems and IoT solutions in the transportation sector enables vehicles to transfer message and signals to other vehicles for tracking and monitoring on a real-time basis. The integration of ITS with IoT applications help to sense the data from surroundings and increases safety in passenger and commercial vehicles.
Vendors are integrating connected vehicles with IoT applications to track vehicle location. IoT solutions enhance road transportation system through intelligent IT solutions for transit management and smart traffic management systems. IoT applications integrated with analytics solutions are used to gather and analyze data collected from smart and connected devices with the help of telematics and sensor technology.
Key vendors operating in the global IoT in transportation market are Denso Corp., Verizon Communications, IBM Corp, Cisco Systems and AT&T Inc.
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