[197+ Pages Report] We at Facts & Factors have recently published a report titled “Global Transportation Analytics Market” that encompasses the spectacle of the market in an analytical and comprehensive manner. In this study, the global transportation analytics market is estimated to value around USD 25.5 Billion by 2026 from an initial value of USD 10.2 Billion in the year 2020 growing at a CAGR value of 20.7%.
Global Transportation Analytics Market: Overview
Transportation analytics is the process of dealing with complex factors such as transport network congestions, fleet costs, and traffic-related networks. These solutions offer advanced data analytics measures for automation of predictive analysis for projecting future trends, identifying business needs, and building long terms strategies for optimizing revenue-based streams. Additionally, these factors allow for on-time deliveries with a dashboard that presents its users with a customized dashboard.
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Global Transportation Analytics Market: Growth Factors
The factors triggering the significant market growth of the global transportation analytics market are the rising number of government initiatives for building operating smart cities coupled with rising population and the populous regions around the globe to name a few. Additionally, factors contributing to the rising adoption of smart transport initiatives coupled with a rising application for advanced traffic management systems (ATMs) are expected to increase the footprint of the global transportation analytics market during the advent of the forecast period. Moreover, the shifting of consumers to transport analytics management due to increased integration of artificial intelligence and machine learning practices is further expected to open new revenue opportunities for the global transportation analytics market during the forecast period.
The global transportation analytics market is expected to be driven by factors attributed to the rising use of transport analytics systems such as intelligent transport systems (ITS) coupled with rapid urbanization to name a few. Factors contributing to the growing global transportation analytics market are the rising demands for reducing traffic jams couple with minimizing collisions to name a few. However, a higher cost of implementation and less consumer awareness is expected to hamper the growth of the global transportation analytics market during the advent of the forecast period.
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Global Transportation Analytics Market: Segmentation
The global transportation analytics market is segmented into type, deployment mode, application, and region.
On the basis of type, the global transportation analytics market is divided into descriptive, predictive, and prescriptive. The segment pertaining to descriptive is expected to witness the largest market share during the advent of the forecast owing to the rising adoption of smart cities and smart transportation coupled with the rising number of reliable vendors and integration of descriptive analysis to name a few. Based on deployment mode, the global transportation analytics market is classified into on-premise, cloud-based, and hybrid. The cloud deployment segment is expected to witness the largest market share during the advent of the forecast owing to factors pertaining to scalability, flexibility, rising security aspects, and intense control over the flow of data to name a few. Based on application, the global transportation analytics market is fragmented into traffic management, logistics management, planning & maintenance, and others. The traffic management category is expected to witness the largest market share during the advent of the forecast owing to the integration of technologies such as video analytics helping with traffic congestion issues coupled with rising demand for analytics aiding reduction of carbon emissions to name a few.
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Global Transportation Analytics Market: Regional Analysis
Europe is expected to witness the largest market share during the advent of the forecast owing to early adoption of the technology coupled with well-suited infrastructure along the region to name a few. Additionally, factors contributing to the significant market growth in the region include the rising services and solutions in terms of innovative solutions. Moreover, the presence of key market players in the region in terms of adoption of various growth strategies, product enhancements & launches, partnerships, and acquisitions is expected to increase the consumer base for the transportation analytics market during the advent of the forecast. Asia-Pacific is expected to witness the fastest growing CAGR during the advent of the forecast owing to increased adoption of smart cities by emerging economies such as China, Japan, and India coupled with the rising number of government-based initiatives for increasing the presence of transportation analytics to name a few.
Global Transportation Analytics Market: Competitive Players
The key market participants for the global transportation analytics market are IBM, Siemens, Cubic, Cellint, Alteryx, Kapsch Trafficcom, INRIX, Indra Sistema, Trimble, TomTom, Conduent, Hitachi, Thales, OmniTracs, Techvantage, CARTO, Synthelic, SmartDrive Systems, and Envista, among others.
Browse detail report with in-depth TOC @ Global Transportation Analytics Market, 2021-2026
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