IoT in Intelligent Transport System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region

Description

Global landscape of transportation is undergoing a profound transformation with the advent of Internet of Things (IoT) technology. As connectivity becomes increasingly pervasive, the intersection of IoT and Intelligent Transport Systems (ITS) is poised to revolutionize how we navigate and manage transportation networks worldwide. With a projected market valuation of US$ 350 billion by 2031, the IoT in Intelligent Transport System market is set to redefine efficiency, safety, and sustainability in the transportation sector.

Driving Forces Behind Market Growth:

The surge in demand for reliable and secure transportation solutions has fueled the adoption of IoT in smart transportation systems. Governments worldwide are investing heavily in smart transportation infrastructure to enhance effectiveness, dependability, and safety. By leveraging IoT-enabled technologies, transportation networks can optimize traffic flow, alleviate congestion, and bolster safety measures.

Harnessing Real-Time Data for Optimization:

The proliferation of connected vehicles equipped with sensors and communication tools has empowered transportation systems to gather and analyze real-time data. This data enables intelligent decision-making, optimizing traffic flow, reducing congestion, and enhancing overall safety. With an estimated 1.45 billion cars on the road in 2022, projected to reach 2 billion by 2031, the need for IoT-integrated intelligent transport systems has never been more pressing.

Regional Insights:

North America emerges as a significant hotspot for IoT in intelligent transport systems, with a market size reaching US$ 68.9 billion in 2022 and projected to soar to US$ 140 billion by 2031. The region's substantial car ownership rate, exemplified by cities like New York and Los Angeles, underscores the urgency for traffic optimization solutions. Likewise, the United States of America, with its 91% household car ownership rate, showcases a burgeoning demand for IoT-driven transportation solutions to combat increasing traffic congestion.

United Kingdom's Traffic Congestion Challenge:

In the United Kingdom, where 77% of households own cars, traffic congestion poses a significant economic and logistical challenge. London, with drivers losing an average of 69 hours in traffic in 2020, stands as a poignant example. The implementation of IoT in intelligent transport systems offers a promising solution to mitigate congestion and optimize traffic flow, thereby reducing economic losses and improving commuter experiences.

China's Rapid Urbanization and Transportation Demands:

As a global hub for automobile sales, China faces mounting pressure to address traffic congestion amidst rapid urbanization. With over 21.8 million passenger cars sold in 2021, the country's IoT in intelligent transport system market is estimated to reach US$ 30 billion by 2031. The integration of IoT technologies presents an opportunity to alleviate congestion and enhance transportation efficiency across China's burgeoning urban centers.

Component and Vertical Insights:

The hardware segment within IoT-enabled traffic management systems is poised for significant growth, driven by the crucial role of sensors, cameras, and GPS receivers in optimizing traffic flow and enhancing safety. Furthermore, the roadways vertical is set to witness substantial expansion, leveraging IoT technologies to facilitate communication between vehicles and infrastructure, thus streamlining traffic operations and reducing accidents.

Competitive Analysis and Future Outlook:

Key market players are actively expanding their global footprint through strategic initiatives such as joint ventures, acquisitions, and collaborations. Investment in research and development projects underscores the industry's commitment to innovation, driving the evolution of IoT-integrated intelligent transport systems. As the market continues to mature, stakeholders are primed to capitalize on emerging opportunities and shape the future of transportation through IoT innovation.

Key Companies Profiled

Cisco Systems Inc.
Garmin International Inc.
Thales Group
Tomtom NV
Denso Corp
Sierra Wireless Inc.
IBM
AT&T Inc.
Nuance Communications
Alcatel-Lucent

IoT in Intelligent Transport System Market Outlook by Category:

By Component:

Hardware
Software
Services

By Vertical:

Roadways
Railways
Airways
Maritime

By Application:

Telematics
Infotainment
Advanced Driver Assistance System (ADAS)

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

1. Executive Summary

1.1. Global IoT in Intelligent Transport System Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2022
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global IoT in Intelligent Transport System Market Outlook, 2018 - 2031

3.1. Global IoT in Intelligent Transport System Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Hardware
  - 3.1.1.2. Software
  - 3.1.1.3. Services
3.2. Global IoT in Intelligent Transport System Market Outlook, by Vertical, Value (US$ Bn), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Roadways
  - 3.2.1.2. Railways
  - 3.2.1.3. Airways
  - 3.2.1.4. Maritime
3.3. Global IoT in Intelligent Transport System Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. Telematics
  - 3.3.1.2. Infotainment
  - 3.3.1.3. Advanced Driver Assistance System (ADAS)
3.4. Global IoT in Intelligent Transport System Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa

4. North America IoT in Intelligent Transport System Market Outlook, 2018 - 2031

4.1. North America IoT in Intelligent Transport System Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Hardware
  - 4.1.1.2. Software
  - 4.1.1.3. Services
4.2. North America IoT in Intelligent Transport System Market Outlook, by Vertical, Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Roadways
  - 4.2.1.2. Railways
  - 4.2.1.3. Airways
  - 4.2.1.4. Maritime
4.3. North America IoT in Intelligent Transport System Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. Telematics
  - 4.3.1.2. Infotainment
  - 4.3.1.3. Advanced Driver Assistance System (ADAS)
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America IoT in Intelligent Transport System Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 4.4.1.2. U.S. IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 4.4.1.3. U.S. IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 4.4.1.4. Canada IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 4.4.1.5. Canada IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 4.4.1.6. Canada IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe IoT in Intelligent Transport System Market Outlook, 2018 - 2031

5.1. Europe IoT in Intelligent Transport System Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Hardware
  - 5.1.1.2. Software
  - 5.1.1.3. Services
5.2. Europe IoT in Intelligent Transport System Market Outlook, by Vertical, Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Roadways
  - 5.2.1.2. Railways
  - 5.2.1.3. Airways
  - 5.2.1.4. Maritime
5.3. Europe IoT in Intelligent Transport System Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Telematics
  - 5.3.1.2. Infotainment
  - 5.3.1.3. Advanced Driver Assistance System (ADAS)
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe IoT in Intelligent Transport System Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.2. Germany IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 5.4.1.3. Germany IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.4.1.4. U.K. IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.5. U.K. IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 5.4.1.6. U.K. IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.4.1.7. France IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.8. France IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 5.4.1.9. France IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.4.1.10. Italy IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.11. Italy IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 5.4.1.12. Italy IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.4.1.13. Turkey IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.14. Turkey IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 5.4.1.15. Turkey IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.4.1.16. Russia IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.17. Russia IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 5.4.1.18. Russia IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.4.1.19. Rest of Europe IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.20. Rest of Europe IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 5.4.1.21. Rest of Europe IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Cassava Starch Market Outlook, 2018 - 2031

6.1. Asia Pacific Cassava Starch Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Hardware
  - 6.1.1.2. Software
  - 6.1.1.3. Services
6.2. Asia Pacific IoT in Intelligent Transport System Market Outlook, by Vertical, Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Roadways
  - 6.2.1.2. Railways
  - 6.2.1.3. Airways
  - 6.2.1.4. Maritime
6.3. Asia Pacific IoT in Intelligent Transport System Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Telematics
  - 6.3.1.2. Infotainment
  - 6.3.1.3. Advanced Driver Assistance System (ADAS)
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific IoT in Intelligent Transport System Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 6.4.1. Key Highlights
  - 6.4.1.1. China IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.2. China IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 6.4.1.3. China IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.4.1.4. Japan IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.5. Japan IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 6.4.1.6. Japan IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.4.1.7. South Korea IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.8. South Korea IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 6.4.1.9. South Korea IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.4.1.10. India IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.11. India IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 6.4.1.12. India IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.4.1.13. Southeast Asia IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.14. Southeast Asia IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 6.4.1.15. Southeast Asia IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.4.1.16. Rest of Asia Pacific IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.17. Rest of Asia Pacific IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 6.4.1.18. Rest of Asia Pacific IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America IoT in Intelligent Transport System Market Outlook, 2018 - 2031

7.1. Latin America IoT in Intelligent Transport System Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Hardware
  - 7.1.1.2. Software
  - 7.1.1.3. Services
7.2. Latin America IoT in Intelligent Transport System Market Outlook, by Vertical, Value (US$ Bn), 2018 - 2031
7.3. Latin America IoT in Intelligent Transport System Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Telematics
  - 7.3.1.2. Infotainment
  - 7.3.1.3. Advanced Driver Assistance System (ADAS)
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America IoT in Intelligent Transport System Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 7.4.1.2. Brazil IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 7.4.1.3. Brazil IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.4.1.4. Mexico IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 7.4.1.5. Mexico IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 7.4.1.6. Mexico IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.4.1.7. Argentina IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 7.4.1.8. Argentina IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 7.4.1.9. Argentina IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.4.1.10. Rest of Latin America IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 7.4.1.11. Rest of Latin America IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 7.4.1.12. Rest of Latin America IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa IoT in Intelligent Transport System Market Outlook, 2018 - 2031

8.1. Middle East & Africa IoT in Intelligent Transport System Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Hardware
  - 8.1.1.2. Software
  - 8.1.1.3. Services
8.2. Middle East & Africa IoT in Intelligent Transport System Market Outlook, by Vertical, Value (US$ Bn), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Roadways
  - 8.2.1.2. Railways
  - 8.2.1.3. Airways
  - 8.2.1.4. Maritime
8.3. Middle East & Africa IoT in Intelligent Transport System Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa IoT in Intelligent Transport System Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.2. GCC IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 8.4.1.3. GCC IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.4.1.4. South Africa IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.5. South Africa IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 8.4.1.6. South Africa IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.4.1.7. Egypt IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.8. Egypt IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 8.4.1.9. Egypt IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.4.1.10. Nigeria IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.11. Nigeria IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 8.4.1.12. Nigeria IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.4.1.13. Rest of Middle East & Africa IoT in Intelligent Transport System Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.14. Rest of Middle East & Africa IoT in Intelligent Transport System Market by Vertical, Value (US$ Bn), 2018 - 2031
  - 8.4.1.15. Rest of Middle East & Africa IoT in Intelligent Transport System Market by Application, Value (US$ Bn), 2018 - 2031
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. By Application vs by Vertical Heat map
9.2. Manufacturer vs by Vertical Heatmap
9.3. Company Market Share Analysis, 2022
9.4. Competitive Dashboard
9.5. Company Profiles
- 9.5.1. Cisco Systems Inc.
  - 9.5.1.1. Company Overview
  - 9.5.1.2. Product Portfolio
  - 9.5.1.3. Financial Overview
  - 9.5.1.4. Business Strategies and Development
- 9.5.2. Garmin International Inc.
  - 9.5.2.1. Company Overview
  - 9.5.2.2. Product Portfolio
  - 9.5.2.3. Financial Overview
  - 9.5.2.4. Business Strategies and Development
- 9.5.3. Thales Group
  - 9.5.3.1. Company Overview
  - 9.5.3.2. Product Portfolio
  - 9.5.3.3. Financial Overview
  - 9.5.3.4. Business Strategies and Development
- 9.5.4. Tomtom NV
  - 9.5.4.1. Company Overview
  - 9.5.4.2. Product Portfolio
  - 9.5.4.3. Financial Overview
  - 9.5.4.4. Business Strategies and Development
- 9.5.5. Denso Corp
  - 9.5.5.1. Company Overview
  - 9.5.5.2. Product Portfolio
  - 9.5.5.3. Financial Overview
  - 9.5.5.4. Business Strategies and Development
- 9.5.6. Sierra Wireless Inc.
  - 9.5.6.1. Company Overview
  - 9.5.6.2. Product Portfolio
  - 9.5.6.3. Financial Overview
  - 9.5.6.4. Business Strategies and Development
- 9.5.7. IBM
  - 9.5.7.1. Company Overview
  - 9.5.7.2. Product Portfolio
  - 9.5.7.3. Financial Overview
  - 9.5.7.4. Business Strategies and Development
- 9.5.8. AT&T Inc.
  - 9.5.8.1. Company Overview
  - 9.5.8.2. Product Portfolio
  - 9.5.8.3. Financial Overview
  - 9.5.8.4. Business Strategies and Development
- 9.5.9. Nuance Communications
  - 9.5.9.1. Company Overview
  - 9.5.9.2. Product Portfolio
  - 9.5.9.3. Financial Overview
  - 9.5.9.4. Business Strategies and Development
- 9.5.10. Alcatel-Lucent
  - 9.5.10.1. Company Overview
  - 9.5.10.2. Product Portfolio
  - 9.5.10.3. Financial Overview
  - 9.5.10.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations