Transportation Analytics Market to Reach USD 72.4 billion by 2031: Industry Analysis and Top Market Players
The emerging transportation analytics trends meet the growing demand for autonomous operations, digitalization, and sustainability.
PORTLAND, PORTLAND, OR, UNITED STATE, September 15, 2023/EINPresswire.com/ — 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.
COVID-19 scenario:
➢ The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global transportation analytics market, owing to implementation of global lockdown which resulted to import & export restrictions, thereby causing disruptions in the supply chain.
➢ Due to stoppage of import & export activities, the demand for transportation analytics decreased during the pandemic.
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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 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.
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Based on mode of transport, the roadways segment accounted for the highest share in 2021, holding more than two-fifths of the global transportation analytics market, and is expected to continue its leadership status during the forecast period. However, the airways segment is estimated to grow at the highest CAGR of 26.6% during the forecast period.
Based on region, Europe held the largest share in 2021, contributing to more than one-third of the global transportation analytics market share. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 24.1% during the forecast period, and is projected to maintain its dominant share in terms of revenue in 2031. The research also analyzes regions including North America and LAMEA.
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Based on type, the descriptive segment held the highest share in 2021, accounting for nearly half of the global transportation analytics market. However, the prescriptive segment is expected to register the highest CAGR of 25.2% from 2022 to 2031.
Key players in the industry
➢ IBM Corporation
➢ INRIX
➢ Indra Sistemas
➢ S.A.
➢ Cubic Corporation
➢ TomTom International BV
➢ Alteryx, Inc.
➢ Siemens AG
➢ Cellint
➢ Trimble Inc.
➢ Kapsch TrafficCom AG.
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