Guidehouse Insights Expects Global Spending for IoT on Transportation to Grow at a Compound Annual Growth Rate of Nearly 15% Through 2031

Market drivers include concerns around CO₂ emissions, the safe movement of passengers and cargo, and increasing demand for trucking amid shortage of drivers

BOULDER, Colo., April 21, 2022 /PRNewswire/ -- A new report from Guidehouse Insights discusses how Internet of Things (IoT) technology is being deployed in the transportation sector, focusing on passenger travel and logistics.

IoT technology in transportation is relatively well-established, though different sectors are at different stages of penetration and use cases vary. One consistent theme is the use of IoT sensors and analytics to improve processes involved in moving passengers and cargo. Governments and transportation operators want to increase cost efficiency, offer a differentiated user experience, and generate new revenue streams through IoT in transportation. According to a new report from Guidehouse Insights, global spending for IoT on 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 in airports and train stations, non-customer-facing settings such as an airport's airside operations will present an important opportunity for growth," says Francesco Radicati, senior research analyst with Guidehouse Insights. "However, the most important constraint to growth will be ensuring that any new deployments adhere to safety protocols, particularly in passenger settings."

Among the factors driving the deployment of IoT technology in the transportation industry are concerns around CO₂ emissions and the environment, the safe movement of passengers and cargo, and an increasing demand for trucking amid a shortage of drivers. While the early phases of the COVID-19 pandemic led to a decrease in transportation-related emissions, the travel and logistics industries are expecting demand to return to pre-pandemic levels. However, they will have to address that demand with fewer resources after two years of cost-cutting to remain afloat.

The report, IoT in Transportation Overview, discusses how IoT technology is being deployed in the transportation sector, focusing on passenger travel (primarily aviation and rail) and logistics (primarily trucking and ports). This report describes IoT use cases in airports, rail stations, shipping ports, and trucks and provides information on key players targeting transportation. It also provides forecasts for the expected investment in each sector by global region through 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 insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

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

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