The rising adoption of IoT across transportation sector globally has led to the incorporation of various tools along with associated services which ease the transport management through traffic congestion control system; reservation; automotive telematics; toll & ticketing systems; remote monitoring; security and surveillance system; and others. Thus, creating lucrative opportunities for the IoT in Transportation market in the forecast period. .
The extended connectivity and enhanced internet penetration is driving the growth of the IoT in Transportation market. However, high costs associated with the implementation of this system across enterprises may restrain the growth of the IoT in Transportation market. Furthermore, rise in demand for technological upgrade in the transportation sector is anticipated to create market opportunities for the IoT in Transportation market during the forecast period.
The List of Companies
3.Cisco Systems, Inc.
5.Garmin International Inc.
10.Verizon Communications Inc.
The "Global IoT in Transportation market Analysis to 2027" is a specialized and in-depth study of the IoT in Transportation market with a special focus on the global market trend analysis. The report aims to provide an overview of IoT in Transportation market with detailed market segmentation by type, mode of transport, application, and geography. The global IoT in Transportation market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading IoT in Transportation market players and offers key trends and opportunities in the IoT in Transportation market.
IoT technology allows transportation and logistics companies to improve operational efficiency, manage cost, fuel consumption, increase response time to unexpected scenarios, etc. A customized dashboard, geo-fencing, real-time tracking are some of the key benefits that can be availed with fleet management software.
The global IoT in Transportation market is segmented on the basis of type, mode of transport, and application. Based on type the market is fragmented into hardware, software, and services. Based on mode of transport the IoT in transportation market is segmented into roadways, railways, airways, and maritime. Similarly, on the basis of application the market is fragmented into traffic congestion control system, automotive telematics, reservation/toll and ticketing systems, security and surveillance system, remote monitoring, and others.