Overview and Scope
The transportation analytics refers to a platform built on advanced analytics to monitor the effectiveness of transportation. These analytics include data on the driver, the drivetime, the route, and the unloading period. The transportation system makes use of a number of different elements, including traffic sensors, monitoring display systems, electronic access, mobility management systems, and global positioning systems.
Sizing and Forecast
The transportation analytics market size has grown exponentially in recent years. It will grow from $16.75 billion in 2023 to $20.33 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to demand for operational efficiency, traffic management, government initiatives, safety and compliance requirements, environmental sustainability, customer expectations..
The transportation analytics market size is expected to see rapid growth in the next few years. It will grow to $41.61 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to autonomous vehicle integration, predictive analytics adoption, growth of mobility as a service (maas), climate change and emission reduction goals, big data handling, cybersecurity concerns.. Major trends in the forecast period include integration of real-time data and iot sensors, advanced predictive analytics for maintenanc, enhanced fleet management and optimization, integration of gis (geographic information system) technology, cybersecurity measures for connected vehicles, continued advancements in machine learning and ai..
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Segmentation & Regional Insights
The transportation analytics market covered in this report is segmented –
1) By Analytics Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics
2) By Component: Solutions, Services
3) By Deployment: On-Premise, Cloud, Hybrid
4) By Mode of Transportation: Railways, Roadways, Maritime, Airways
5) By Application: Remote Sensing, Transit Management, Traffic Management, Incident Management, Logistics Management, Other Applications
North America was the largest region in the transportation analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the transportation analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing government initiatives for the development of smart cities and advanced commute systems are driving the growth of the transportation analytics market. A smart city is a developed urban area that excels in a number of critical areas, including economy, mobility, environment, people, lifestyle, and government. Smart cities use transportation analytics to monitor and manage their traffic systems. Monitoring equipment, such as sensors, is built into traffic lights and signals that continuously track traffic movement. For instance, in March 2023, according to Global X ETF, a US-based fund management firm, with the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) in November 2021, the United States took a significant step towards improving its infrastructure. Over the next ten years, the IIJA is going to invest $550 billion to improve roads, bridges, airports, and railroads, extend access to clean drinking water and broadband internet, and achieve environmental justice. Therefore, rising government initiatives to develop smart cities are driving the growth of the transportation analytics market.
Key Industry Players
Major companies operating in the transportation analytics market report are International Business Machines Corporation, OmniTracs LLC, Cubic Corporation, Alteryx Inc., Cellint Corporation, Inrix Corporation, Siemens AG, Hitachi Limited, Conduent Inc., Oracle Corporation, Thales Group, Iteris Inc., Dataiku Inc., Ridecell Inc., Mara Labs Inc., GoFreight Inc., SmartDrive Systems Inc., Kapsch Trafficcom AG, Indra Sistemas S.A., Trimble Inc., TomTom N.V., CARTO Inc., Ticpoi Pte. Ltd., WeighMAST Limited, AirportTransfer.com, MoveInSync Rentlz Inc., Foley & Lardner LLP, SENGERIO Inc., Veritec Solutions LLC, StreetLight Data Inc., Arity LLC, Flexe Inc.
The transportation analytics market report table of contents includes:
1. Executive Summary
2. Transportation Analytics Market Characteristics
3. Transportation Analytics Market Trends And Strategies
4. Transportation Analytics Market – Macro Economic Scenario
5. Global Transportation Analytics Market Size and Growth
…..
32. Global Transportation Analytics Market Competitive Benchmarking
33. Global Transportation Analytics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Transportation Analytics Market
35. Transportation Analytics Market Future Outlook and Potential Analysis
36. Appendix
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