Global IoT Market in Intelligent Transportation Systems Market Size and Forecast to 2025
At Verified Market Intelligence, we provide a market study that encompasses both qualitative and quantitative assessments of latest trends for the market segmentations classified by our analysts. According to our research team, the Global IoT Market in Intelligent Transportation Systems Market was valued at USD 112.84 billion in 2017 and is projected to reach USD 219.95 billion by 2025, growing at a CAGR of 8.7% from 2018 to 2025. Our research study mainly includes an in-depth study of the market which includes major drivers, restraints, opportunities and challenges faced in the market along with the latest industrial trends.
The need to manage the transportation systems has emerged with growing population. With rapid advancement in technology, incorporation of data analytics and Internet of Things (IoT) has led to formation of another interdisciplinary of the IoT market named Intelligent Transportation Systems. It is an advanced application used to provide a more efficient transportation management services wherein customers can have a better idea of traffic management and network of transportation routes. The intelligent transportation systems include high technology based on the predictive analytics and other information systems which has IoT analytics and IoT market forecast.
Integration of transportation systems along with big data analytics and extensive emphasis on the R&D of IoT related software acts a potential driver in the global IoT market in intelligent transportation systems market whereas increased complexity in the big data solutions poses a great threat to the market and acts as a market restraint for the global market.
The “Global IoT Market in Intelligent Transportation Systems Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Cisco Systems, Inc., Garmin International Inc., Thales Group, Tomtom NV, Denso Corp, Sierra Wireless, Inc., IBM and AT&T Inc. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
As a part of market estimation, the study also comprises a list of tables and figures for the “Global IoT Market in Intelligent Transportation Systems Market” which focuses on a constructive knowledge essential for the companies or individuals interested in the market study report. As a part of market segmentation, our study exhibits a market analysis on the basis of product, component, vertical and geography. Asia Pacific accounts for the fastest growing market due to the presence of numerous developing countries in this region along with their emerging markets. The Chinese market has a major share in this region.
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