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Guidehouse Insights expects global IoT spending in transportation to grow at a compound annual growth rate of nearly 15% through 2031

Market drivers include CO concerns2 emissions, the safe movement of passengers and goods and the growing demand for trucking in the context of driver shortages

BOULDER, Col., April 21, 2022 /PRNewswire/ — A new report from Glimpses of the House of Guides explains how Internet of Things (IoT) technology is being deployed in the transportation industry, focusing on passenger travel and logistics.

(PRNewsfoto/Guidehouse Insights)

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 settings are well-prepared for IoT deployments, thanks to existing Wi-Fi network deployments at airports and train stations, non-customer-facing settings 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 safety protocols, particularly with respect to passengers.”

Among the factors driving the deployment of IoT technology in the transportation industry are concerns over CO2 emissions and the environment, the safe movement of passengers and goods, and a growing demand for trucking in the face of driver shortages. While the early phases of the COVID-19 pandemic have resulted in lower 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, Introducing IoT in Transportation, discusses how IoT technology is being deployed in the transportation industry, focusing on passenger travel (primarily aviation and rail) and logistics (primarily trucking and ports). This report describes IoT use cases in airports, railway stations, shipping ports and trucks and provides information on key players targeting transportation. It also provides forecasts of expected investments in each sector by world region until 2031. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data and benchmarking services for today’s rapidly changing and highly regulated industries. Our knowledge is based on an in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, primary end-user research, and demand assessment, coupled with an in-depth review of technology trends, to provide a comprehensive view emerging resilient infrastructure systems. Additional information on Guidehouse Insights is available at www.guidehouseinsights.com.

About Guidehouse
Guidehouse is a leading global provider of advisory services to the public sector and commercial markets, with extensive risk management, technology and advisory capabilities. By combining our public and private sector expertise, we help our clients address their most complex challenges and overcome significant regulatory pressures focused on transformational change, business resilience and technology-driven innovation. Through a range of consulting, advisory, outsourcing and digital services, we create scalable and innovative solutions that help our clients navigate complexity and position them for future growth and success. The company has more than 13,000 professionals in more than 50 locations worldwide. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda issues that drive national and global economies. For more information, please visit www.guidehouse.com.

* The information contained in this press release regarding the report, Introducing IoT in Transportation, is a summary and reflects current expectations of Guidehouse Insights based on market data and trend analysis. Forecasts and market expectations are inherently uncertain and actual results may differ materially from those contained in this press release or report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s findings and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes to update the information contained in this press release or the report.

For more information contact:

Jennifer Peacock
+1.404.575.3859
[email protected]

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SOURCE Guidehouse Insights