Transportation Analytics Market is Anticipated to Increase at a Stable CAGR over the Forecast Period 2030

According to the report published by Allied Market Research, the global transportation analytics market garnered $12.9 billion in 2021, and is estimated to generate $72.4 billion by 2031, manifesting a CAGR of 19.2% from 2022 to 2031.

The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

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The transportation industry ensures the efficient and safe transportation of people and goods from one place to another. The growth of technology, such as traffic sensors, electronic access, mobility management, and monitoring display systems in transportation is powering analytics in this industry.

Furthermore, many developed cities have adapted multi-modal transportation, which ensures flawless travel between different transportation modes, including buses, cycles, trains, airports, and even personal vehicles. The multi-modal transportation system requires systematic data collection, as technological advancements lead to many different data sources including camera, GPS, and geo-location.

Analysis of the transportation industry will have to consider this diverse data ecosystem. This unmatched amount of data can help key players in the transportation sector use advanced analytical techniques such as predictive analytics to enhance functioning, reduce costs, and better serve travelers. Such trends propel the transportation analytics market forecast in the upcoming years.

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The research provides detailed segmentation of the global transportation analytics market based on Type, Application, Mode of Transport, Component, Deployment Mode, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on type, the descriptive segment held the highest share in 2021, accounting for nearly half of the global transportation analytics market. However, prescriptive segment is expected to register the highest CAGR of 25.2% from 2022 to 2031.

Based on components, the solution segment dominated the transportation analytics market in 2021 and is expected to continue this trend during the forecast period. The adoption of transportation analytics provides numerous benefits to the industry such as streamlining the business process, eliminating the manual process, and reducing the time and costs, further fueling the growth of the market.

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However, services segment is expected to show the highest market growth in the upcoming year. The adoption of transportation analytics enhances software implementation, maximizes the value of existing installation by optimizing it, and minimizes the deployment cost & risks, and others, further fueling the growth of the transportation analytics market for this segment.

Based on application, the traffic and incident management segment accounted for the highest share in 2021, contributing to more than two-fifths of the global transportation analytics market, and is expected to maintain its lead in terms of revenue during the forecast period. However, transit planning and maintenance segment is expected to manifest the highest CAGR of 25.4% from 2022 to 2031.

Region-wise, Europe dominated the market share in 2021 for the transportation analytics industry. Adoption of transportation analytics growing steadily to meet increasing demands from today's businesses to enhance their business process and improve the customer experience will provide lucrative opportunities for the market in this region. However, Asia-Pacific is expected to exhibit highest growth during the forecast period. This is attributed to increase in penetration of advanced technology and higher adoption of cloud-based solution & services, AI, big data and IoT, are particularly fueling regional market growth.

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The outbreak of COVID-19 is anticipated to provide numerous opportunities for the market to grow during the forecast period. This is attributed to significant investment in advanced technologies such as cloud technology, big data, artificial intelligence, and machine learning, due to rise in adoption of cloud-based solution & services across the globe. In addition, various companies are seeking for cost-effective solutions to boost their productivity to attract consumers toward cloud-based solution and to increase their financial benefits.

Furthermore, increase in efforts of governments along with rise in investments in smart city projects and smart transportation by several developing economies is expected to provide lucrative opportunities for the expansion of the global market, as the use of business analytics is increasing in smart cities majorly to support real-time operational control; improve decision-making; increase service quality as well as efficiency; and improve engagement of government with businesses, citizens, and other stakeholders, which is expected to provide lucrative growth opportunities for the transportation analytics market in the upcoming year.

Leading market players of the global transportation analytics market analyzed in the research include IBM Corporation, INRIX, Indra Sistemas, S.A., Cubic Corporation, TomTom International BV, Alteryx, Inc., Siemens AG, Cellint, Trimble Inc., and Kapsch TrafficCom AG.

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The report provides a detailed analysis of these key players of the global transportation analytics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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