What Fueled The Previous Growth In The Transportation Analytics Market?
The transportation analytics market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of transportation analytics has seen rapid expansion. Its growth is set to continue from $19.92 billion in 2024 reaching $23.95 billion in 2025, boasting a compound annual growth rate (CAGR) of 20.2%. Factors driving growth during this historical period include the need for operational efficiency, traffic management, government initiatives, regulatory compliance requirements, environmental sustainability, and customer expectations.
How Does the Forecast Look for the Transportation Analytics Market Size?
The Transportation Analytics market is expected to maintain its strong growth trajectory in upcoming years.
• In the next few years, the size of the transportation analytics market is anticipated to witness tremendous growth, eventually rising to $49.96 billion in 2029 at a compound annual growth rate (CAGR) of 20.2%.
This growth during the forecast period is linked to factors such as the development of autonomous vehicles, increased use of predictive analytics, rise of mobility as a service (maas), global climate change and emission reduction targets, managing big data, and concerns around cybersecurity. Key trends for the forecast period include the integration of real-time data and IoT sensors, advanced predictive maintenance analytics, improved fleet supervision and optimization, the use of GIS (geographic information system) technology, cybersecurity precautions for networked vehicles, and ongoing improvements in machine learning and AI.
What Are The Leading Drivers Of Growth In The Transportation Analytics Market?
The surge in governmental efforts to foster the progression of smart cities and sophisticated commuting systems is fueling the expansion of the transportation analytics market. A smart city represents a progressive urban region proficient in various key sectors such as economy, mobility, environment, populace, lifestyle, and governance. Transportation analytics are utilized in smart cities to oversee their traffic structures. Devices like sensors are incorporated within traffic lights and symbols to indefinitely monitor traffic dynamics. For instance, in March 2023, Global X ETF, a fund management enterprise based in the US, indicated that with the investment of $1.2 trillion through the Infrastructure Investment and Jobs Act (IIJA) in November 2021, America had made significant advancements in upgrading its infrastructure. The IIJA will devote $550 billion to bettering roads, bridges, airports, and railways, extending the reach of purified drinking water and high-speed internet, and accomplishing environmental justice across the next decade. Consequently, the escalating government measures for sculpting smart cities are propelling the enhancement of the transportation analytics market.
How Are The Segments Defined Within The Global Transportation Analytics Market?
The transportation analytics market covered in this report is segmented –
1) By Analytics Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics
2) By Component: Solutions, Services
3) By Deployment: On-Premise, Cloud, Hybrid
4) By Mode Of Transportation: Railways, Roadways, Maritime, Airways
5) By Application: Remote Sensing, Transit Management, Traffic Management, Incident Management, Logistics Management, Other Applications
Subsegments:
1) By Descriptive Analytics: Data Visualization Tools, Reporting Tools, Dashboard Solutions
2) By Predictive Analytics: Forecasting Models, Trend Analysis Tools, Risk Assessment Models
3) By Prescriptive Analytics: Optimization Solutions, Simulation Tools, Decision Support Systems
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How Are New Trends Expected To Influence The Growth Of The Transportation Analytics Market?
Leading organizations within the transportation analytics market are focusing on deploying new Artificial Intelligence (AI) augmented transportation administration platforms to enhance their market position. To illustrate, SS Supply Chain Solutions, a software development company from India, unveiled its Intelligent Transport Management Solution (iTMS) in September 2023. iTMS is a comprehensive transport planning, execution, and settlement structure powered by leading-edge analytics. The solution leverages AI and data analytics to maximize the efficiency of the entire logistics transportation life cycle. It incorporates features like Order AI for automated order collection, efficient dispatch routes facilitated by Shipment Planning and Optimization, and an Execution Orchestration Tool designed for real-time monitoring and performance enhancement. iTMS also comes with Billing & Settlement tools and Contract & Rate Management features to streamline overseas business operations and financial audits.
Who Are the Key Players In The Transportation Analytics Market?
Major companies operating in the transportation analytics market include:
• International Business Machines Corporation
• OmniTracs LLC
• Cubic Corporation
• Alteryx Inc.
• Cellint Corporation
• Inrix Corporation
• Siemens AG
• Hitachi Limited
• Conduent Inc.
• Oracle Corporation
• Thales Group
• Iteris Inc.
• Dataiku Inc.
• Ridecell Inc.
• GoFreight Inc.
• SmartDrive Systems Inc.
• Kapsch Trafficcom AG
• Indra Sistemas S.A.
• Trimble Inc.
• TomTom N.V.
• CARTO Inc.
• MoveInSync Rentlz Inc.
• SENGERIO Inc.
• StreetLight Data Inc.
• Arity LLC
• Flexe Inc.
What Is The Most Dominant Region In The Transportation Analytics Market?
North America was the largest region in the transportation analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the transportation analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
