IoT technology in transportation is relatively well established, although different sectors are at different stages of penetration and use cases vary. A recurring theme is the use of IoT sensors and analytics to improve the processes involved in moving passengers and freight. Governments and transport operators want to increase profitability, provide a differentiated user experience and generate new revenue streams through IoT in transport. According to a new report from Guidehouse Insights, global IoT spending in transportation is expected to grow at a compound annual growth rate (CAGR) of 14.6% through 2031.
“As customer-facing environments are well-prepared for IoT deployments, thanks to existing Wi-Fi network deployments at airports and train stations, non-customer-facing environments, such as airside operations of a airport, will present a significant growth opportunity,” said Francesco. Radicati, senior research analyst at Guidehouse Insights. “However, the most significant constraint to growth will be ensuring that any new deployment adheres to security protocols, particularly in passenger environments.”
Among the factors driving the deployment of IoT technology in the transport industry are concerns over CO2 emissions and the environment, safe movement of passengers and goods, and a growing demand for trucking in a context of driver shortage. While the early phases of the COVID-19 pandemic have led to a decline in transportation-related emissions, the travel and logistics industries expect demand to return to pre-pandemic levels. However, they will have to meet this demand with fewer resources after two years of cost cutting to stay afloat.
The report, IoT in Transportation Overview, explains how IoT technology is being deployed in the transportation industry, focusing on passenger travel (primarily aviation and rail) and logistics (primarily trucking and ports). It outlines IoT use cases in airports, railway stations, shipping ports and trucks and provides information on key players targeting transportation. The report also provides forecasts for expected investments in each sector by world region until 2031.
For more information :