IoT in Transportation Market Worth $143.93 Billion by 2020
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.
IoT in transportation is a very dynamic market and entails a great potential across many industry verticals. The advancements in technology due to the never ending R&D in this sector makes it one of the prominent segments in the current IT industry scenario. The components, devices, and products have continuously developed from their traditional operations to meet the demands of the growing IoT technology. The software has a major role to play in this sector due to the cost effective matrix, and it leads to a longer life cycle of devices and systems with greater reliability. The highlighting features of IoT in transportation include higher efficiency, better properties to withstand rough environmental conditions, and a longer life that is best-suited for multiple transportation applications.
The report describes the market trends, drivers, and challenges with respect to the IoT in Transportation Market and forecasts the market till 2020. This global report gives a detailed view of the market across geographies The Americas, Europe, Asia-Pacific (APAC), Middle East, and Africa. The Americas is the largest geography in terms of the IoT in transportation market value. APAC has been identified as the fastest growing region. Europe has a very promising market, while the Middle East and Africaare also impetus to the growth. The report profiles 10 promising players in the IoT in transportation market.
The competitive landscape of the IoT in Transportation Market presents a very interesting picture, where a large number of small players have become a force to reckon with. The market is witnessing a large scale collaboration and partnership across the value and supply chain with a number of tier-one players around the globe.