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Emerging Trends Influencing The Growth Of The Transportation Analytics Market:Technological Advancements Transforming The Transportation Analytics Market
Transportation Analytics
How Big Is the Transportation Analytics Market Size Expected to Be by 2034?
The scale of the transportation analytics market has been experiencing exponential growth over the recent years. The market value is forecasted to expand from $19.92 billion in 2024 to an impressive $23.95 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 20.2%. This significant growth during the historical period can be attributed to various factors including a demand for operational efficiency, improvements in traffic management, initiatives from the government, requirements for safety and compliance, the push for environmental sustainability, and rising customer expectations.
The market size of transportation analytics is predicted to encounter substantial growth in the forthcoming years, reaching a value of $49.96 billion in 2029 with an annual growth rate (CAGR) of 20.2%. The anticipated expansion during the prediction period is due to factors such as the merging of autonomous vehicles, the embracing of predictive analytics, the rise of mobility as a service (maas), objectives for climate change and emissions reduction, the management of big data, and matters relating to cybersecurity. The forecast period will introduce prominent trends which include real-time data and IoT sensors integration, advanced predictive analytics for maintenance purposes, improved management and optimization of the fleet, the addition of GIS (geographic information system) technology, security measures for connected vehicles, and constant progression in machine learning and AI.
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What Are the Emerging Segments Within the 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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What Long-Term Drivers Are Shaping Transportation Analytics Market Trends?
The escalation of governmental efforts towards smart city development and sophisticated transit systems are propelling the transportation analytics market's expansion. A smart city is an evolved urban region that excels in key areas including economy, mobility, environment, population, lifestyle, and governance. These smart cities employ transportation analytics for the upkeep and control of their traffic networks. Monitoring apparatus such as sensors are built within traffic lights and signs for consistent traffic movement surveillance. For instance, Global X ETF, a fund management firm based in the U.S, reported in March 2023 that the country made a major advancement in infrastructure development with the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) in November 2021. The IIJA is set to invest $550 billion over the coming decade to enhance roads, bridges, airports, and railroads, expand access to uncontaminated drinking water and broadband internet, and promote environmental justice. Hence, the augmentation of government efforts in smart city development is fuelling the growth of the transportation analytics market.
Who Are the Top Competitors in Key Transportation Analytics Market Segments?
Major companies operating in the transportation analytics market are 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 Transportation Analytics Market Trends Are Gaining Traction Across Different Segments?
Top companies in the transportation analytics market are innovating with AI-based transportation management solutions to sharpen their market advantage. A case in point is SS Supply Chain Solutions, a software development firm based in India. In September 2023, this company introduced iTMS (Intelligent Transport Management Solution), a platform that combines transport planning, settlement, and execution, powered by advanced analytics. This solution harnesses artificial intelligence and data analytics to optimize all aspects of logistics transportation. iTMS comes with features such as Order AI for automated order procurement, Shipment Planning and Optimization for streamlined dispatch routes, and an Execution Orchestration Tool for live tracking and enhancing performance. It also includes features like Contract & Rate Management and Billing & Settlement tools, further easing overseas trade procedures and financial auditing.
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Which Regions Are Becoming Hubs for Transportation Analytics Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Transportation Analytics Market?
2. What is the CAGR expected in the Transportation Analytics Market?
3. What Are the Key Innovations Transforming the Transportation Analytics Industry?
4. Which Region Is Leading the Transportation Analytics Market?
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