Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Transportation Analytics Market by Component, Deployment Mode, Type, Application, Mode of Transport: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to the report the transportation analytics market was valued at $12.9 billion in 2021, and is estimated to reach $72.4 billion by 2031, growing at a CAGR of 19.2% from 2022 to 2031.
The Transportation analytics Market is likely to experience a significant growth rate of 19.2% from 2022-2031, owing to increasing market demand from Roadways segment.
The rapidly improving technological innovations, advanced analytics has become the most sought-after specialized area for shippers and LSPs. The benefits that emerge from investment in advanced transportation analytics make this the most coveted of any modern technical field for shippers.
These analytics beat out all other transportation technology areas, including blockchain, artificial intelligence, chatbots, and many others. Because of this, advanced analytics has emerged as the most valuable technological asset for shippers and LSPs.
Factors such as surge in adoption of digital twins' technology drive the growth of the market. In addition, growing adoption of advanced technologies such as AI, ML, Internet of Things (IoT), Big Data, and Blockchain strengthens the growth of the market for future. Moreover, advent of autonomous vehicles and drones to improve transportation efficiency further propel the growth of the transportation analytics market.
Furthermore, increasing penetration of machine-to-machine communication to improve business insights in maritime industries and increase in usage of cloud-based platforms are expected to provide lucrative growth opportunities for the market in the upcoming years. However, security & privacy concerns and high cost of innovation and budget constraints hamper the growth of the market.
Market Dynamics
Drivers
- Surge in Adoption of Digital Twins' Technology.
- Growing Adoption of Advanced Technologies Such as AI, ML, Internet of Things, Big Data, and Blockchain.
- Advent of Autonomous Vehicles and Drones.
Restraints
- Security & Privacy Concerns.
- High Cost of Innovation and Budget Constraints.
Opportunities
- Increasing Penetration of M2M Communication to Improve Business Insights in Maritime Industries.
- Increase in Usage of Cloud-Based Platforms
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global marketing attribution software market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global marketing attribution software market trends is provided in the report.
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the global marketing attribution software market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By Type
- Predictive
- Descriptive
- Prescriptive
By Application
- Traffic and Incident Management
- Transit Planning and Maintenance
- Logistics Management
- Others
By Mode of Transport
- Roadways
- Railways
- Airways
- Waterways
By Component
- Solution
- Services
By Deployment Mode
- On-Premise
- Cloud
- Hybrid
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- IBM Corporation
- INRIX
- Indra Sistemas, S.A.
- Cubic Corporation
- TomTom International BV
- Alteryx, Inc.
- Siemens AG
- Cellint
- Trimble Inc.
- Kapsch TrafficCom AG
Key Market Insights
- By component, the solution segment was the highest revenue contributor to the market in 2021, and is estimated to reach $ 43,901.28 million by 2031, with a CAGR of 17.0%. However, the services segment is estimated to be the fastest growing segment with the CAGR of 23.6% during the forecast period.
- By deployment mode, the on-premise segment dominated the global market share in 2021, and is estimated to reach $21,582.04 million by 2031, with a CAGR of 15.6%, However, the cloud segment is expected to be the fastest growing segment of transportation analytics market during the forecast period.
- Based type, the descriptive segment was the highest revenue contributor to the market, with $6,368.35 million in 2021, and is estimated to reach $26,228.67 million by 2031, with a CAGR of 15.5%.
- By application, the traffic and incident management segment dominated the global market share in 2021, and is estimated to reach $25,045.18 million by 2031, with a CAGR of 16.5%. However, the transit planning and maintenance segment is expected to be the fastest growing segment of transportation analytics market during the forecast period.
- Based on mode of transport, the Roadways segment was the highest revenue contributor to the market, with $5,570.52 million in 2021, and is estimated to reach $24,805.25 million by 2031, with a CAGR of 16.4%.
- Region wise, Europe was the highest revenue contributor, accounting for $4,620.83 million in 2021, and is estimated to reach $21,647.67 million by 2031, with a CAGR of 17.0%
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TRANSPORTATION ANALYTICS MARKET, BY COMPONENT
CHAPTER 5: TRANSPORTATION ANALYTICS MARKET, BY DEPLOYMENT MODE
CHAPTER 6: TRANSPORTATION ANALYTICS MARKET, BY TYPE
CHAPTER 7: TRANSPORTATION ANALYTICS MARKET, BY APPLICATION
CHAPTER 8: TRANSPORTATION ANALYTICS MARKET, BY MODE OF TRANSPORT
CHAPTER 9: TRANSPORTATION ANALYTICS MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/c70eqv
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