Press Release

Transportation Analytics Market Size will be propelled by Growing Need for Efficient Transportation Systems

Date : Feb 21, 2023

The global Transportation Analytics Market Size is predicted to be worth over USD 54.5 billion by 2030, increasing at a CAGR of more than 19.7% between 2022 and 2030, according to Ameco Research

Transportation analytics refers to the collection, analysis, and interpretation of data related to transportation networks, systems, and processes. It involves the use of data analytics tools and techniques to optimize the performance of transportation systems, improve efficiency, and reduce costs. The transportation analytics market value has been growing rapidly in recent years, driven by factors such as the increasing use of big data and analytics in transportation management, the growing need for real-time information and insights to support decision-making, and the rising demand for intelligent transportation systems (ITS) and smart transportation solutions.

The global transportation analytics market is being driven by the increasing demand for real-time information and insights to support decision-making, as well as the growing need for predictive analytics and machine learning algorithms to optimize transportation operations. The market is also being fueled by the rising adoption of connected vehicles and IoT technologies, which are generating vast amounts of data that can be analyzed to improve transportation efficiency and safety.

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Global Transportation Analytics Market Growth Factors

•    Increasing demand for real-time data
•    Growing need for efficient transportation systems
•    Increasing focus on safety and security
•    Growing adoption of smart transportation systems
•    Rising need for sustainable transportation solutions

Global Transportation Analytics Market Trends 

The transportation analytics market is undergoing a significant transformation due to the increasing demand for transportation efficiency and cost reduction, as well as the growing availability of advanced analytics technologies. In the evolving era, the transportation analytics market is expected to experience a rapid growth rate due to the increasing adoption of analytics solutions by transportation companies, governments, and other stakeholders.

One major trend in the transportation analytics market is the growing use of big data analytics to manage and optimize transportation networks. With the increasing amount of data generated by transportation systems, big data analytics solutions are becoming increasingly important for optimizing route planning, reducing fuel consumption, and improving overall transportation efficiency. As a result, transportation analytics providers are developing advanced analytics tools that can collect, process, and analyze large amounts of data from various sources, including GPS data, traffic sensors, and weather data.

Another trend in the transportation analytics market is the integration of artificial intelligence and machine learning technologies. These technologies are being used to develop predictive analytics tools that can forecast transportation demand, anticipate potential disruptions, and optimize transportation routes in real time. By leveraging AI and machine learning, transportation companies can gain greater insights into their operations and make more informed decisions that can help reduce costs, improve customer satisfaction, and increase revenue.

The transportation analytics market is also seeing a shift towards cloud-based solutions. Cloud-based transportation analytics solutions are becoming increasingly popular because they offer several benefits, including cost-effectiveness, scalability, and flexibility. With a cloud-based solution, transportation companies can access their analytics tools from any location, and scale their analytics infrastructure to meet their changing needs.

Transportation Analytics Market Segmentation                         

According to Ameco Research, the worldwide transportation analytics market is segmented by type, and mode. By type, the market is divided into prescriptive analytics, descriptive analytics, and predictive analytics. The predictive analytics segment is expected to increase significantly in the global market in the coming years, according to the transportation analytics market forecast.

Based on the mode, the market is bifurcated into roadways (road traffic management, road safety management, and others), railways (rail traffic management, performance management, and others), waterways (ship monitoring, route optimization, and others), and airways (air traffic management, route optimization, and others).

Transportation Analytics Market Regional Outlook       

The worldwide transportation analytics market is broken down into five regions: Latin America, North America, Asia-Pacific, Europe, and the MEA. North America is currently dominating the transportation analytics market due to several key factors. Firstly, the region has a well-established transportation infrastructure, with a large number of highways, railways, and airports. This infrastructure generates a significant amount of data, which can be analyzed to improve the efficiency and safety of the transportation system. Additionally, North America has a highly developed technology sector, with many leading analytics companies located in the region. This has led to the development of cutting-edge transportation analytics solutions that are in high demand by transportation companies.

Another reason for North America's dominance in the transportation analytics market is the region's strong regulatory environment. The United States, in particular, has a well-developed regulatory framework that encourages the adoption of innovative transportation technologies. For example, the Federal Highway Administration has established programs to promote the use of transportation analytics solutions to improve highway safety and reduce congestion. These programs have helped to create a favorable environment for transportation analytics companies in the region.

Transportation Analytics Market Companies

Some of the most notable worldwide transportation analytics market players are Envista Cubic, Siemen, Cellint, IBM, Alteryx, Kapsch Trafficcom, Trimble, Indra Sistema, TomTom, Conduent, INRIX,Iteris, Hitachi, Techvantage, Thales, CARTO, OmniTracs, Syntelic, and SmartDrive Systems.

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