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

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.