IoT in Transport Intelligent Systems Market Set to Reach $377.19 Billion by 2034

Real-Time Traffic Monitoring Becoming Way Easier With the Assistance of IoT in Intelligent Transport System: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, January 22, 2025 /EINPresswire.com/ — According to the newly published report by Fact.MR, a market research and competitive intelligence provider, the global IoT in intelligent transport system market is evaluated to reach US$ 158.32 billion in 2024 and the market is further forecasted to rise at a CAGR of 9.1% between 2024 and 2034.

The demand for the Internet of Things (IoT) in intelligent transport systems is experiencing noteworthy growth worldwide, driven by urbanization and the need for smarter mobility solutions. Cities from Singapore to Stockholm are increasingly adopting IoT technologies to transform their transport networks into interconnected ecosystems. This surge in adoption stems from IoT’s versatile applications, ranging from real-time traffic management to predictive maintenance of infrastructure. Cities implementing these systems report significant improvements in traffic flow, with congestion reductions of up to 30% and corresponding decreases in emissions.

The market reflects this growing demand, with the global IoT in the transportation market expected to expand at a noteworthy pace. Transportation authorities are particularly drawn to IoT’s ability to deliver tangible benefits, including reduced operational costs, enhanced safety, and improved user experience. Leading technology companies are responding by developing increasingly sophisticated IoT solutions, while governments worldwide are allocating larger budgets to smart transport initiatives, recognizing their crucial role in building sustainable, efficient cities of the future.

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Key Takeaways from Market Study

The global IoT in intelligent transport system market is projected to reach a valuation of US$ 377.19 billion by the end of 2034.The North American market is evaluated to account for a 27.8% share of the global market by 2034.

The East Asian market for IoT in intelligent transport systems is projected to expand at a CAGR of 9.6% from 2024 to 2034.Sales of IoT in intelligent transport systems in Mexico are forecasted to rise at a CAGR of 7.2% through 2034.

The market in Japan is approximated to account for a share of 24.2% in East Asia by 2034.Sales of hardware components are analyzed to increase at a CAGR of 8.2% from 2024 to 2034.

“Rich data from IoT devices enables better long-term planning and investment decisions for more effective transport infrastructure,” says a Fact.MR analyst.

New Innovations in Intelligent Transport Systems Improving the Market Condition Globally

Advanced AI-powered sensors, edge computing capabilities, and 5G integration are creating more sophisticated and responsive transport networks than ever before. Cutting-edge developments include smart intersections that autonomously optimize traffic flow. In addition, predictive maintenance systems using machine learning to forecast infrastructure repairs and advanced vehicle-to-everything (V2X) communication platforms are also possible with these systems. These innovations enable vehicles to communicate seamlessly with infrastructure and each other, paving the way for safer autonomous driving.

The emergence of digital twin technology in transport systems allows cities to simulate and optimize their networks in real time. Meanwhile, blockchain integration is enhancing security and data integrity across IoT networks, addressing previous concerns about cybersecurity.

IoT-integrated system sales are increasing due to trends in robotics and digitization.

In order to solve the labor crisis and improve operational performance, the logistics industry is quickly digitizing via the use of robotics, self-driving technologies, and data analytics. In addition to addressing the labor deficit, the use of robots in data analytics, supply chain management, warehousing, and machine learning is increasing technical efficiency. Logistics operations are changing as a result of these digital transformation projects.

AI technologies are revolutionizing the industry by eliminating human labor and optimizing procedures. They promise to deliver orders on schedule, which shows their dependability. The latest 5G wireless network technology offers fast data transfer and secure infrastructure in addition to Internet of Things offerings. This will accelerate the growth of IoT in logistics and transportation
over the next 10 years.

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Country-specific Perspectives

Due to the ongoing trend of digitalization, several governments worldwide are placing a high priority on enhancing their infrastructure. The makers of IoT systems are becoming increasingly wealthier as a result.

The United States, South Korea, Canada, Japan, China, and other top nations all make significant contributions to this industry. By 2034, the US market is predicted to account for 73.3% of the North American market share for IoT in transport intelligent systems.

The digital revolution in the US, which has been essential for controlling transportation infrastructure, has boosted market expansion. IoT investment in the nation is expected to be driven by an increase in supply chain businesses, IoT solutions, and internet consumption.

Many businesses in the logistics and supply chain sectors are using cloud-based technologies, such Oracle Blockchain Applications Cloud and Internet of Things devices, to increase supply chain transparency. The cost-consciousness of large American corporations has led to a sharp rise in the adoption of cloud-based software.

Explore More Studies Published by Fact.MR Research:

Internet of Things (IoT) Market From 2024 to 2034, the size of the worldwide Internet of Things (IoT) market is expected to increase from US$ 1,90,180.8 million to US$ 8,83,156.2 million. From 2024 to 2034, the worldwide IoT market is anticipated to grow at a 16.6% CAGR.

Transportation Management System Market Revenue from the global transportation management system market is expected to reach US$ 23.35 billion by the end of 2034, growing at a compound annual growth rate (CAGR) of 10.3% from its predicted US$ 8.76 billion in 2024.

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