Selbyville, Delaware, May 23, 2024 (GLOBE NEWSWIRE) --
The transportation analytics market valuation is poised to cross USD 53.4 billion by 2032, as reported in a research study by Global Market Insights Inc.
As per the report, the rapid growth of electric vehicles (EVs) is a major growth factor for the market. According to the IEA, almost 14 million new EVs were registered globally in 2023, bringing the Global EV Outlook 2023 (GEVO-2023) sales forecast to 40 million. As the global shift to sustainable transport accelerates, the adoption of electric vehicles is increasing across sectors, including public transport, logistics, and human mobility.
Analytics solutions play a crucial role in integrating electric cars into existing transport systems, providing information on charging infrastructure optimization, range management, and fleet electrification strategies. In addition, analytics can help stakeholders identify opportunities to improve EV charging networks, optimize energy use, and improve overall operational efficiency. The growing adoption of electric cars creates new data flows and increases the complexity of transportation systems, increasing the demand for advanced analytics solutions tailored to the unique requirements of e-mobility.
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The transportation analytics market size from the service segment will grow moderately through 2032, as services such as consulting, implementation, and support are critical for transportation companies to effectively implement analytics solutions. In addition, managed services are gaining popularity because they provide ongoing support and maintenance, allowing organizations to focus on their core business while ensuring the smooth operation of analytics platforms. Furthermore, the service segment will see innovation with the introduction of additional services such as education and training, thereby witnessing further growth.
The on-premises segment will capture a notable transportation analytics market share by 2032, as on-premises deployments offer benefits such as enhanced security, better infrastructure management, and regulatory compliance. Many transport companies prefer local solutions, especially those that handle sensitive data or operate in areas with limited internet access. Therefore, the demand for on-site transport analytics solutions could continue to grow. In addition, on-premises deployments offer scalability and flexibility, allowing organizations to expand their infrastructure as data volumes and analytics needs grow over time.
Asia Pacific transportation analytics market will register appreciable growth between 2024 and 2032, fueled by rapid urbanization, investment in transportation infrastructure, and adoption of advanced technologies. Countries like China, India, Japan, and South Korea are witnessing an increase in demand for traffic analytics solutions to eliminate traffic congestion, improve public transport systems, and improve overall mobility. Additionally, government initiatives to promote smart cities and sustainable transportation will further boost market growth in the region.
Major companies operating in the transportation analytics market include IBM Corporation, SAP SE, Siemens AG, Cubic Corporation, Inrix Inc., Oracle Corporation, Alteryx Inc., Hitachi, Ltd., Cellint Traffic Solutions, and TomTom NV. Their most notable growth strategies are innovation, partnerships, acquisitions, customer-centric approaches, and technological development. Innovation remains a core strategy, and companies are constantly developing new analytics solutions to meet changing market demands and technological developments.
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They invest in R&D to launch new products or improve existing ones that meet specific customer needs. Strategic partnerships and collaborations are another key driver of economic growth. By creating alliances with other industry players, companies can expand their market area, gain access to new technologies or know-how, and offer more comprehensive solutions to their customers. The acquisition allows companies to quickly acquire technology, talent, or market share. With the help of strategic acquisitions, companies can expand their product range, enter new markets, or strengthen their competitive position.
Citing an instance, in February 2024, Oracle Corp. announced updates to its Fusion Cloud Supply Chain and Manufacturing suite, improving transportation management and global business management components. These updates aim to simplify logistics operations, reduce costs, and automate regulatory compliance. A standout feature is updated logistics network modeling that allows managers to compare scenarios and plan options, facilitate better tasking decisions, and optimize fleet performance.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Transportation analytics market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024 - 2032
2.3 Regional trends
2.4 Component trends
2.5 Type trends
2.6 Deployment model trends
2.7 Mode of transport trends
2.8 Application trends
Chapter 3 Transportation Analytics Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Solution providers
3.1.2 Servies providers
3.1.3 Technology providers
3.1.4 System integrators
3.1.5 End-user
3.2 Supplier landscape
3.2.1 Solution providers
3.2.2 Servies providers
3.2.3 Technology providers
3.2.4 System integrators
3.2.5 End-user
3.3 Profit margin
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 Partnership/Collaboration
3.6.2 Merger/Acquisition
3.6.3 Investment
3.6.4 Product launch & innovation
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing urbanization and traffic congestion
3.8.1.2 Rise in smart city initiatives and connected transportation
3.8.1.3 Growing adoption of AI and machine learning
3.8.1.4 Increasing focus on safety and efficiency improvement
3.8.2 Industry pitfalls & challenges
3.8.2.1 Data integration and security concerns
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
