New York, United States , July 03, 2024 (GLOBE NEWSWIRE) -- The Global Transportation Analytics Market Size to grow from USD 13.6 Billion in 2023 to USD 54.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 14.97% during the forecast period.
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The transportation analytics market comprises the use of various data analysis techniques and tools to gain insights and improve transportation operations. This industry encompasses a wide range of applications, including traffic management, predictive maintenance, supply chain optimisation, and demand forecasting. The growing volume of data generated by transportation systems, the need for real-time monitoring and decision-making, and the increased emphasis on improving efficiency and lowering costs in transportation operations are all driving the growth of the transportation analytics industry. The usage of transportation analytics solutions is particularly popular in areas such as logistics, public transportation, aviation, maritime, and rail transportation. These solutions help businesses optimise routes, reduce congestion, increase safety, maximise asset utilisation, and improve the overall passenger experience.
Browse key industry insights spread across 237 pages with 112 Market data tables and figures & charts from the report on the "Global Transportation Analytics Market Size By Component (Solution, Services), By Deployment Model (On-premises, Cloud), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Component
The solution segment accounted for the largest market share over the forecast period 2023 to 2033. As cities and populations grow in size, traffic management and optimisation solutions are rapidly developing. These technologies use real-time data analytics to monitor traffic flow, detect congestion, and improve signal timings, resulting in increased traffic efficiency and reduced road congestion. Fleet management and logistics optimisation solutions are in high demand, particularly with the advent of e-commerce and the necessity for efficient transportation and delivery. These technologies enable organisations to optimise fleet operations, route planning, vehicle tracking, and delivery scheduling, resulting in cost savings, higher efficiency, and improved customer experience. Predictive maintenance solutions are gaining popularity among transportation businesses looking to reduce downtime, save maintenance costs, and improve asset reliability.
Insights by Deployment Model
The cloud segment is dominating the market with the largest market share over the forecast period 2023 to 2033. Cloud-based transportation analytics solutions reduce the need for significant upfront investments in hardware, infrastructure, and software licencing. Instead, companies can use pay-as-you-go pricing models, which allow them to pay only for the resources and services they use. This cost-effective solution provides transport stakeholders with advanced analytics capabilities without incurring major capital costs. Cloud-based transportation analytics solutions enable rapid innovation and deployment, allowing firms to try out new analytics methodologies, algorithms, and applications without incurring significant upfront expenditures or infrastructure limits. This innovation agility enables transportation stakeholders to keep up with shifting market trends, technological advancements, and customer expectations.
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North America is anticipated to dominate the Transportation Analytics Market from 2023 to 2033. North America is witnessing significant urbanisation, with an increasing concentration of population in metropolitan regions. This expansion is putting a strain on existing transport infrastructure, creating a greater demand for analytics solutions to optimise transport networks and alleviate congestion. Many cities around North America are implementing smart city initiatives to improve livability, sustainability, and transportation. Mobility analytics solutions are essential for these projects because they provide insights into traffic management, public transportation optimisation, and sustainable mobility planning. Private-sector companies, including transportation service providers, logistics firms, and technology vendors, are investing in transportation analytics to gain a competitive advantage, improve operational efficiency, and enhance customer experience.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Urbanisation is driving up the demand for transportation analytics solutions to improve traffic flow, public transit systems, and overall mobility. Many Asian Pacific countries are investing heavily in transportation infrastructure, such as roads, railroads, airports, and seaports, to spur economic growth and urbanisation. Transportation analytics are essential for optimising infrastructure investments, enhancing project planning and execution, and increasing the efficiency of transportation networks. The rapid rise of e-commerce in Asia Pacific is driving up demand for efficient logistics and transportation solutions. Transportation analytics help e-commerce businesses optimise delivery routes, manage inventory more effectively, and improve last-mile delivery services, resulting in higher customer satisfaction and cost savings.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Transportation Analytics Market include TomTom International BV, Indra Sistemas, S.A., Alteryx, Inc., Kapsch TrafficCom AG, Siemens AG, IBM Corporation, INRIX, Trimble Inc., Cellint, Cubic Corporation, and other key vendors.
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Recent Market Developments
- In September 2023, 3SC Solutions unveiled an innovative transport management solution. iTMS is a transport management technology that blends artificial intelligence and data analytics.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Transportation Analytics Market, Component Analysis
- Solution
- Services
Transportation Analytics Market, Deployment Model Analysis
- On-Premise
- Cloud
Transportation Analytics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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