Global transportation analytics market

Global Transportation Analytics Market Size, Share, Growth Analysis, By Type(Descriptive, Predictive), By Application(Traffic Management, Logistics Management) - Industry Forecast 2024-2031

Report ID: SQMIG45B2094 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 64 | Figures: 75

Global Transportation Analytics Market Dynamics

Transportation Analytics Market Driver

Deployment of Advanced Traffic Management Systems and Use of Automation is expected to boost the market growth

  • One of the key reasons propelling the growth of the transportation analytics market is the rise in the deployment of advanced traffic management systems (ATMs) and smart transportation initiatives globally. Because of the advantages provided by these analytics, such as reductions in fuel usage, air pollution, and travel time, there has been an increase in demand for these solutions.
  • The tendency to automate operations is growing, which accelerates market expansion. The transportation analytics industry is incorporating a number of cutting-edge automation technologies, including artificial intelligence (AI) and machine learning (ML).
  • Government programs with weightage on creation of smart cities across regions has an additional impact on the market expansion. The ongoing growth of the market is aided by the increasing integration of transportation analytics products with intelligent transportation systems.
  • Additionally, the market for transportation analytics is benefited by expanding urbanization, lifestyle changes, a boom in investments, and rising consumer expenditure.

Transportation Analytics Market Restraint

Use of outdated systems and improvements in regulatory standards to impede the market growth

  • Market expansion is anticipated to be hampered by problems recouping ROI from outdated systems and the requirement to adhere to strict transportation regulatory standards. 
  • The transportation analytics market is anticipated to face challenges from transferring a diverse array of commodities to the expanding market as well as integration difficulties over legacy systems and networks during the forecast period of 2023–2030.
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Transportation Analytics Market size was valued at USD 15.89 billion in 2019 and is poised to grow from USD 18.7 billion in 2023 to USD 68.4 billion by 2031, growing at a CAGR of 17.6% in the forecast period (2024-2031).

Industry participants are projected to find that strategic alliances, mergers, and acquisitions are the most efficient means of expanding their access to growing markets and their technological prowess. Additionally, it is anticipated that product innovation and distinctiveness would open up new business opportunities. In addition, the growing startup scene and transport analytics startups like TERAKI, Populus.ai, Sixgill, Conduent, Urbanlogiq, Motion tag, IoTium, Immense simulations, Cyberowl, Emu Analytics, and B-Line Transportation, among others, could create competition. 'IBM Corporation', 'Siemens AG', 'SAP SE', 'Cellint', 'Cubic Corporation', 'Alteryx, Inc.', 'Hitachi, Ltd.', 'OmniTracs, LLC', 'TomTom International BV', 'Thales Group', 'Techvantage Analytics', 'Mu Sigma Inc.', 'SAS Institute Inc.', 'Inrix Inc.', 'Caliper Corporation', 'Oracle Corporation', 'Accela, Inc.', 'Inrix, Inc.', 'Kapsch TrafficCom AG', 'Iteris Inc.'

One of the key reasons propelling the growth of the transportation analytics market is the rise in the deployment of advanced traffic management systems (ATMs) and smart transportation initiatives globally. Because of the advantages provided by these analytics, such as reductions in fuel usage, air pollution, and travel time, there has been an increase in demand for these solutions.

Transportation Infrastructure to Gain Momentum: Transportation systems and analytics are in high demand as a result of the development of electronic access, mobility management, traffic sensors, and displays to effectively monitor the system. Greater communication, increased safety, and upgraded infrastructure that automates control system management are the main benefits of the proliferation of smart cars on smart roads. The transportation systems and analytics industry may benefit from an increase in travelers understanding of how to effectively manage, monitor, and streamline their journey as well as from less congestion and traffic management.

In 2022, North America is anticipated to hold the biggest market share, at 38%. The market for transportation systems and analytics is most developed in North America. Several ITS systems are in place to handle the area's expanding traffic and public transportation infrastructure. Commercial drone sales in the region are increasing rapidly as a result of rigorous regulations on drone pilots and registrations being implemented by nations like the United States. As a result, it is anticipated that during the projected period, the aviation industry would experience a large increase in demand for ITS systems. The region's demand for Transportation Systems and Analytics is driven by the region's significant demand for dedicated short-range communication devices that stop traffic congestion in both passenger and commercial road vehicles.

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