Transportation Analytics Market Research: Driving Insights for Smarter Mobility Solutions | Growing at CAGR of 19.2%
Data-driven decision-making, smart city initiatives, demand for sustainable transport, and growth of connected vehicles drive transportation analytics market.
PORTLAND, OREGON, UNITED STATES, July 19, 2023/EINPresswire.com/ — The Global Transportation Analytics Market was valued at $12.9 billion in 2021 and is anticipated to increase at a CAGR of 19.2% from 2022 to 2031 to reach $72.4 billion.
The transportation sector makes sure that people and goods are moved from one location to another efficiently and safely. Analytics in the transportation sector are being driven by the development of technology, including traffic sensors, electronic access, mobility management, and monitoring display systems. Multi-modal transportation, which provides seamless movement between various modes of transportation like buses, bicycles, trains, airports, and even personal vehicles, has also been used by many major cities.
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The transportation analytics market is experiencing rapid growth and evolution, driven by advancements in data analytics technologies and the need for efficient, safe, and sustainable transportation solutions. Several key trends are shaping the landscape of transportation analytics.
Firstly, the increasing adoption of connected and autonomous vehicles is generating massive amounts of data from sensors, cameras, and GPS systems. Transportation analytics leverages this data to optimize traffic flow, predict maintenance needs, and enhance overall vehicle performance. Real-time data analysis enables smarter decision-making, reducing traffic congestion and improving road safety.
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There is a rising demand for smart transportation systems in urban areas. Cities worldwide are turning to data-driven solutions to address traffic congestion, air pollution, and public transit efficiency. By analyzing data from various sources such as mobile apps, public transit systems, and traffic cameras, transportation analytics provides valuable insights to urban planners, enabling them to optimize routes, improve public transport services, and implement demand-responsive transit solutions.
Sustainability is a significant driver in the transportation analytics market. Governments and businesses alike are increasingly focused on reducing carbon emissions and embracing eco-friendly transportation options. Analytics helps identify opportunities for alternative fuels, energy-efficient routing, and environmentally conscious supply chain management, thereby contributing to a greener and more sustainable transportation ecosystem.
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Lastly, the integration of artificial intelligence (AI) and machine learning (ML) is revolutionizing transportation analytics. These technologies empower transportation systems to become more predictive and adaptive. AI-driven predictive maintenance can optimize vehicle downtime, while ML algorithms can analyze historical data to forecast travel patterns, anticipate demand, and optimize fleet operations, leading to cost savings and enhanced customer experiences.
The key players that operate in the transportation analytics market analysis are Alteryx, Inc., Cellint, Cubic Corporation, IBM Corporation, Indra Sistemas, S.A., INRIX, Kapsch TrafficCom AG, Siemens AG, Trimble Inc., and TomTom International BV. These players have adopted various strategies to increase their market penetration and strengthen their position in the transportation analytics industry.
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David Correa
Allied Analytics LLP
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