New Report Predicts Major Opportunities in IoT Transportation

Night Road 1Market research firm Research and Markets has unveiled a new report on the smart car market and related IoT systems. The report, entitled “Analysis of Connected Vehicle Opportunities in the Age of the Internet of Things (IoT)“, paints a picture of a near future in which a range of transportation devices are connected online and communicating with each other.

While the firm is tight-lipped about dollar predictions for the future of this market landscape, a report synopsis does not mince words in referring to “a gold mine of possibilities arising for sensors, biometrics, and micro controllers required to operate connected vehicle features such as payment systems, mobile traffic services, health monitoring systems, and infotainment.” The synopsis also suggests that the Internet of Things will undergo “explosive growth”, adding that in the connected city of the future, “Tremendous opportunities lie in providing citywide traffic monitoring systems, infrastructure for electric vehicle charging, parking, tolling and congestion management, integrated ticket and fare management solutions, traffic prediction tools, and integrated traffic management.”

If it sounds hyperbolic, it’s worth noting that excitement over the Internet of Things is prompting major organizations like IBM to invest billions of dollars in R&D in that area. Moreover, we’re already starting to see some pretty advanced connected car technology emerge, such as the Dragon Drive system, which uses voice recognition technology to offer a personalized driving experience. Meanwhile, it looks like Apple is developing its own electric car; and if true, it’s a pretty safe bet that too will offer some significant measure of interconnectivity with other devices, just like all of Apple’s other major products. This kind of industrial activity seems indicative that the hype over the IoT – and its applications in the world of transportation – may be worth believing.