Product ID: UCMIG45B2006
IoT in Transportation Market Size, Share, Growth Analysis, By Component(Hardware, Software) - Industry Forecast 2024-2031
Report ID:
UCMIG45B2006 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
IoT in Transportation Market Insights
Market Overview:
The Internet of Things (IoT) for transportation refers to the networking of items via embedded sensors, actuators, and other devices that collect and transmit data on real-world activities. The use of IoT-enabled technology is altering the way the transportation industry operates. Increased internet penetration and lower costs of powerful sensors and controllers drive market expansion. Furthermore, expansion in information, communication, and technology (ICT) fuel industry growth. Poor internet infrastructure in underdeveloped countries, on the other hand, is projected to stymie market expansion. Furthermore, cloud computing and analytics use are likely to give the attractive potential for market expansion. Key players dominating the market are Alcatel-Lucent, AT&T Inc., Garmin International Inc., IBM Corp. and others.
IoT in Transportation Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the IT Consulting & Other Services by segment aggregation, the contribution of the IT Consulting & Other Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
IoT in Transportation Market Report Snapshots
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