USD 15.89 billion
Transportation Analytics Market Size, Share, Growth Analysis, By Type (Descriptive Analytics, Predictive Analytics), By Deployment (Cloud, On-Premises), By Mode (Roadways, Railways), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2094 |
Region:
Global |
Published Date: November, 2024
Pages:
265
|Tables:
64
|Figures:
75
Transportation Analytics Market Insights
Global Transportation Analytics Market size was valued at USD 25.6 billion in 2022 and is poised to grow from USD 31.16 billion in 2023 to USD 149.92 billion by 2031, growing at a CAGR of 21.7% during the forecast period (2024-2031).
Intelligent Transportation Systems (ITS), which facilitates convenient traffic monitoring. According to the Transportation Institute, Americans spend more than 3 billion gallons of fuel annually, and also spend an average 42 hours in traffic each year. Furthermore, the need for traffic solutions is anticipated to be driven by population explosion and quick urbanization in emerging economies. These elements should encourage the use of analytics in transportation industry in the foreseeable future.
The use of transportation analytics solutions in relation to intelligent transportation systems are projected to further contribute to the market expansion, which is pushed further by various government efforts to create smart cities. For instance, the US Department of Transportation spent more than USD 63 billion to significant infrastructure projects to boost transportation sector nationwide. Additionally, the number of passengers and commercial cars has also increased, which has added to traffic congestion. The demand for analytics in intelligent transportation systems will help to lessen traffic congestion, reroute traffic, and reduce the likelihood of collisions. However, data security and privacy are among the critical issues that analytics companies will need to deal with in the upcoming years.
US Transportation Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Vitamins
Fastest Growth
Vitamins
Growth Rate
17.6% CAGR
Global Transportation Analytics Market ($ Bn)
Country Share for North America Region (%)
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Transportation Analytics Market Segmental Analysis
Global Transportation Analytics Market is segmented by Type, Deployemnt, Mode, and Region. Based on Type, the market is segmented into Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics. Based on Deployment, the market is segmented into Cloud, On-Premises, and Hybrid. Based on Mode, the market is segmented into Roadways, Railways, Airways, Waterways. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Transportation Analytics Market Analysis by Type
Descriptive analytics held the largest market share due to the widespread implementation of smart city and smart transportation concepts, the descriptive and predictive type segment of the transportation analytics market has seen a continuous increase in demand. Due to the expanding adoption of big data, which has resulted in the rising volumes of data generated and developments in digital technology. The majority of suppliers provide integrated suites of solutions that combine descriptive analytics with predictive and prescriptive analytics.
Transport businesses and other stakeholders employ sophisticated analytics (predictive and prescriptive) to support them in projecting future trends in order to gain a competitive edge. Forecasting enables businesses to improve their decisions that boost profitability, reduce carbon emissions and traffic congestion, and enhance road safety. Additionally, in the developing market for Advanced Traffic Management Systems (ATMs), traffic information has taken on a major role. Analysing the commercial traffic data and information sector can offer insightful information about the potential for future ATMS products and services.
Global Transportation Analytics Market By Type
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Transportation Analytics Market Regional Insights
In 2022, North America is anticipated to hold the biggest market share, at 38%. The market for transportation systems and analytics is most developed in North America. Several ITS systems are in place to handle the area's expanding traffic and public transportation infrastructure. Commercial drone sales in the region are increasing rapidly as a result of rigorous regulations on drone pilots and registrations being implemented by nations like the United States. As a result, it is anticipated that during the projected period, the aviation industry would experience a large increase in demand for ITS systems. The region's demand for Transportation Systems and Analytics is driven by the region's significant demand for dedicated short-range communication devices that stop traffic congestion in both passenger and commercial road vehicles.
As part of the American Jobs Plan, almost 20,000 miles of highways, roadways, and streets will be upgraded. The most crucial bridges in several regions would be renovated. On behalf of the United States Department of Transportation (U.S. DOT) and all significant modes, the Intelligent Transportation Systems Joint Program Office (ITS JPO) of the U.S. DOT's Research and Innovative Technology Administration carries out research to advance transportation mobility, safety, and environmental sustainability. The deployment of a number of contemporary ICT technologies, such as electronic toll collection and traveler information systems, will be accelerated by the ITS JPO Strategic Plan 2020–2025.
Global Transportation Analytics Market By Region
- Largest
- Fastest
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Transportation Analytics Market Dynamics
Transportation Analytics Market Driver
Deployment of Advanced Traffic Management Systems and Use of Automation is expected to boost the market growth
- One of the key reasons propelling the growth of the transportation analytics market is the rise in the deployment of advanced traffic management systems (ATMs) and smart transportation initiatives globally. Because of the advantages provided by these analytics, such as reductions in fuel usage, air pollution, and travel time, there has been an increase in demand for these solutions.
- The tendency to automate operations is growing, which accelerates market expansion. The transportation analytics industry is incorporating a number of cutting-edge automation technologies, including artificial intelligence (AI) and machine learning (ML).
- Government programs with weightage on creation of smart cities across regions has an additional impact on the market expansion. The ongoing growth of the market is aided by the increasing integration of transportation analytics products with intelligent transportation systems.
- Additionally, the market for transportation analytics is benefited by expanding urbanization, lifestyle changes, a boom in investments, and rising consumer expenditure.
Transportation Analytics Market Restraint
Use of outdated systems and improvements in regulatory standards to impede the market growth
- Market expansion is anticipated to be hampered by problems recouping ROI from outdated systems and the requirement to adhere to strict transportation regulatory standards.
- The transportation analytics market is anticipated to face challenges from transferring a diverse array of commodities to the expanding market as well as integration difficulties over legacy systems and networks during the forecast period of 2023–2030.
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Transportation Analytics Market Competitive Landscape
Industry participants are projected to find that strategic alliances, mergers, and acquisitions are the most efficient means of expanding their access to growing markets and their technological prowess. Additionally, it is anticipated that product innovation and distinctiveness would open up new business opportunities. In addition, the growing startup scene and transport analytics startups like TERAKI, Populus.ai, Sixgill, Conduent, Urbanlogiq, Motion tag, IoTium, Immense simulations, Cyberowl, Emu Analytics, and B-Line Transportation, among others, could create competition.
In January 2019 Cubic bought Gridsmart Technologies Inc, the maker of video tracking devices. GRIDSMART Technologies Inc. specializes in video detection at junctions utilizing computer vision modeling and machine learning, which will expand Cubic Corporation's product line and clientele.
Top Players in the Transportation Analytics Market
- IBM (US)
- Siemens (Germany)
- Cubic (US)
- Cellint (Israel)
- Alteryx (US)
- Kapsch Trafficcom (Austria)
- INRIX (US)
- Indra Sistemas (Spain)
- Trimble (US)
- TomTom (Netherlands)
- Iteris Inc. (US)
- Conduent (US)
- Hitachi (Japan)
- Thales Group (France)
- OmniTracs (US)
- Techvantagee (US)
- CARTO (Spain)
- Syntelic (US)
- SmartDrive Systems (US)
- Envista (US)
Transportation Analytics Market Recent Development
- In September 2021, Geotab, a connected transportation solutions provider, launched a new transportation analytics platform within its Intelligent Transportation Systems (ITS) line of business.
- In January 2020, Sisense merged with Periscope Data, which is now branded and sold as Sisense for cloud data teams. The merger of the two companies will help bring together an independent, unified, and end-to-end data analytics platform for their customers.
Transportation Analytics Key Market Trends
- Transportation Infrastructure to Gain Momentum: Transportation systems and analytics are in high demand as a result of the development of electronic access, mobility management, traffic sensors, and displays to effectively monitor the system. Greater communication, increased safety, and upgraded infrastructure that automates control system management are the main benefits of the proliferation of smart cars on smart roads. The transportation systems and analytics industry may benefit from an increase in travelers understanding of how to effectively manage, monitor, and streamline their journey as well as from less congestion and traffic management.
- Use of AI to Manage Transportation Analytics: To increase operational effectiveness and passenger convenience while pursuing greener mobility, Thales Group unveiled new digital railway technologies. The artificial intelligence video analytics-based solution provides real-time passenger density data using the already-installed CCTV network at stops and on trains. As interest in operational procedure automation increases, the market is expanding more quickly. The field of transportation analytics is integrating artificial intelligence (AI) and machine learning (ML) as two cutting-edge automation technologies.
Transportation Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by type, the descriptive segment dominated the global transportation analytics market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the global transportation analytics market owing to the region's increasing rapidly as a result of rigorous regulations on drone pilots and registrations being implemented by nations like the United States.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 25.6 billion |
| Market size value in 2031 | USD 149.92 billion |
| Growth Rate | 21.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Transportation Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Transportation Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Transportation Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Transportation Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Transportation Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Transportation Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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