IoT in Transportation Market is Expected to Reach $143.93 Billion by 2020

Date: 2015-08-30

“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. Transportation in APAC made an investment of around $2.6 trillion during the period 2010–2020. The public transportation sector may radically change when smart devices and travelers are identifiable. Ticketing based on RFID is already widely available; for instance, 10 million daily travelers of the public transport system in Paris already have access to an electronic ticket.

This report, based on the extensive research study on the IoT in transportation market, is aimed at identifying the main geographic regions where IoT in transportation is expected to bring about a game-changing revolution in the years to come. The report covers the entire spectrum of the market, along with the sub-segments, through extensive and detailed classifications. It segments the IoT in transportation market into five different segments, such as components, products, software & services, verticals, solutions, and application & geography. The IoT in transportation market is expected to reach $143.93 billion by 2020 at an estimated CAGR of 8.95% from 2014 to 2020. The Americas accounted for the leading market share in the overall IoT in transportation market, followed by Europe and APAC.

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