The Transportation Predictive Analytics And Simulation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Transportation Predictive Analytics And Simulation Global Market Report 2024, The transportation predictive analytics and simulation market size has grown strongly in recent years. It will grow from $2.54 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to emergence of iot, early smart city concepts, data collection efforts, government initiatives, transportation infrastructure growth.
The transportation predictive analytics and simulation market size is expected to see strong growth in the next few years. It will grow to $3.91 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to rise in smart cities, increasing iot adoption, demand for traffic management solutions, focus on sustainability.. Major trends in the forecast period include big data integration, artificial intelligence and machine learning, demand for smart transportation, climate and environmental concerns,integration of ai and ml.
The growing instances of road accidents are expected to propel the growth of the transportation predictive analytics and simulation market going forward. Road accidents refer to accidents that occur on roads, highways, and other thoroughfares. This has resulted from an increase in the number of vehicles on the road, changes in traffic patterns or road conditions, driver error, or changes in weather patterns. Transportation predictive analytics and simulation help in reducing the number of road accidents by identifying high-risk areas, improving traffic flow, predicting and preventing accidents, and identifying and addressing driver behavior, thus increasing the adaption of transportation predictive analytics and simulation. For instance, in May 2022, the National Highway Traffic Safety Administration, a part of the US Department of Transportation, in 2021, around 42,915 people died in motor vehicle traffic accidents, this number has rose by 10.5% as compared to 38,824 fatalities in the previous year. Therefore, the growing instances of road accidents are driving the transportation predictive analytics and simulation market.
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The transportation predictive analytics and simulation market covered in this report is segmented –
1) Transportation Predictive Analytics And Simulation Market By Component: Software, Services
2) Transportation Predictive Analytics And Simulation Market By Simulation Method: Microscopic, Macroscopic, Mesoscopic
3) Transportation Predictive Analytics And Simulation Market By Type: On-Premise, Cloud-based
4) Transportation Predictive Analytics And Simulation Market By Application: Roadways, Railways, Airways, Seaways, Other Applications
Top Major Players
SAP AG
IBM Corporation
T-Systems International GmbH
Xerox Corporation
Cubic Corporation
Product innovations are the key trends gaining popularity in the transportation predictive analytics and simulation market. Companies operating in the transportation predictive analytics and simulation market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Geotab Intelligent Transportation Systems, a Canada-based telematics technology provider for GPS fleet management, launched Stop Analytics for commercial vehicle parking insights. Stop analytics is a data analytics module designed to improve the movements of goods and services, create safer truck stops and roadways, strategically identify new real estate sites, develop more efficient curbside management programs, and pinpoint where to place electric vehicle charging infrastructure. Stop analytics helps to identify parking for heavy-duty trucks and improves driver safety.
The transportation predictive analytics and simulation market report table of contents includes:
1. Executive Summary
2. Transportation Predictive Analytics And Simulation Market Characteristics
3. Transportation Predictive Analytics And Simulation Market Trends And Strategies
4. Transportation Predictive Analytics And Simulation Market – Macro Economic Scenario
5. Global Transportation Predictive Analytics And Simulation Market Size and Growth
……
31. Global Transportation Predictive Analytics And Simulation Market Competitive Benchmarking
32. Global Transportation Predictive Analytics And Simulation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Transportation Predictive Analytics And Simulation Market
34. Transportation Predictive Analytics And Simulation Market Future Outlook and Potential Analysis
35. Appendix
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