Transportation Analytics Market - Optimization in the Transportation & Logistics Industry
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It is important to utilize the existing infrastructure efficiently to avoid congestion and improve the travel time and day-to-day transportation. There is a rise in demand for better access to markets, assets, customer bases and customers. Improved access to resources provides efficient control to companies. There have been several improvements in applications across the verticals of transportation analytics and system market, advanced transportation control systems, analytic solutions, and management solutions. Transportation analytics integrated with advanced transportation control systems along with system integrators are helping to avoid problems associated with transportation systems.
Transportation analytics helps in extracting all the data related to transportation and provides actionable insights. It involves high performance reporting and analysis tools to measure the performance of transport logistics. Transportation data from a variety of different sources automatically flows into an analysis system to a secure way. It is then associated together and processed to generate detailed figures and reports. Transportation analytics helps in enhancing driving efficiency while reducing congestion. It also contributes in optimizing public transport using current fare data.
Data related to transportation is collected and utilized in order to manage the system effectively. There should be a proper monitoring and evaluating system in place. The applications derived from the transportation analytics are profiting the users greatly and additional innovations are expected in the coming years. There are various transportation management solution which includes ticketing management, parking management, fleet management and others. These solutions help firms in effectively managing the transportation and logistics segment.
Transportation analytics involves technologies such as cameras, sensors, and geo-tracking with analytics and helps to determine availability of particular parking slots, in turn reducing congestion. Emergence of smart vehicles on developed roads contributes toward better safety, communication facilities, and advanced infrastructure. This automates the overall management of control systems. There is rapid increase in awareness among passengers/travelers to effectively manage, monitor, and modernize their travel. Furthermore, less congestion and traffic management are expected to favorably impact market growth over the coming years. Thus, factors such as varying travel demands, globalization, and hyper-urbanization are expected to drive the market growth during the forecast period.
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However, there is lack of awareness about the functioning of transportation analytics solutions which is expected to hamper the market growth. Furthermore, growth in infrastructure is rather slow and cost of transportation analytics solutions is high. These factors are anticipated to restrain the market growth during the forecast period.
The transportation analytics market can be segmented on the basis of solution, application type, industry vertical, and geography. The market on the basis of solution includes analytics solutions, advanced transportation control systems, management solutions and services. The market on the basis of application solution includes remote sensing, transit management, incident management and others. On the basis of industry vertical it can be segmented into roadways, railways, airways, and seaways. The geographical segmentation for speech analytics market includes North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.
Key players of the transportation analytics market are Cellint, Cubic Corporation, Deltion, Ltd., Garmin, Ltd., IBM Corporation, Inrix, Inc. TomTom LV, Oracle, Ryder Systems, Inc., Trimble Navigation, Ltd., Kewill, Ltd., Qualcomm Inc., Traffic Master, Kapsch Ag, Thales, and Decawave Ltd.
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