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Transportation Analytics Market Size Worth 21.8 Billion by 2027: Grand View Research, Inc.

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News provided by

Grand View Research, Inc.

May 21, 2020, 04:35 ET

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SAN FRANCISCO, May 21, 2020 /PRNewswire/ -- The global transportation analytics market size is expected to reach USD 21.8 billion by 2027, registering at a CAGR of 15.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Increasing expenditure of governments in transportation sector across the world and the growth of smart cities vis-à-vis urbanization are the major driving forces fostering the market growth. Moreover, consumerization of big data, advancements in analytics technology owing to artificial intelligence and machine learning will aid the utility of analytics in the transportation industry. Besides, acquisition of analytics startups, mergers and collaboration, and research and development investment in technology enhancement of analytics by major industry players will boost the market growth.

Key suggestions from the report:

  • The prescriptive type of transportation analytics is likely to grow at rapid rate over the forecast period. Emergence of advanced technologies such as AI and ML, and advent of IoT is likely to boost the segment growth. Among major vendors, Oracle's Analytics cloud platform offers predictive analytics software within the platform, which helps developers to mine various data types, destroy the movement of data, and deliver actionable insights
  • The cloud deployment was the most preferred way for deployment of the analytics in 2019 and is anticipated to grow rapidly over the next eight years. Growth in cloud computing technology and its services such as SaaS, PaaS, and IaaS will foster the segment growth
  • The planning and maintenance management application is anticipated to be the fastest growing segment over the forecast period. Reduction in downtime, monitoring assets for anomalies, cost effective servicing and repairs, trends and forecasting events through analytics are some of the major factors that are likely to drive the segment growth
  • Asia Pacific is expected to expand at the highest CAGR from 2019 to 2025 owing to smart transportation and traffic management initiativesundertaken by countries such asJapan, China, South Korea, Australia, and Taiwan. For instance, China's 5 year plan for modern comprehensive transportation system will include SMART urban transportation management, integrated mobile payment solutions, mobile apps, shared mobility, and the use of big data in transport
  • Key market players include Cellint Corporation; Alteryx Inc.; Oracle Corporation; Inrix Corporation; IBM Corporation; SmartDrive Systems Inc.; Cubic Corporation; Sisense Inc.; Hitachi Ltd.; and Omnitracs LLC

Read 109 page research report with ToC on "Transportation Analytics Market Size, Share & Trends Analysis Report By Type (Descriptive, Predictive, Prescriptive), By Deployment, By Application, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/transportation-analytics-market

As per the published report by Transport Research Centre of Czech Republic, in 2018 there are around 500 million surveillance cameras across the world, generating 15 billion gigabytes of data per week. This number will double every two years, which will be stored and analyzed for improving and streamlining the public transport situation. The potential of data collection and its analysis will also be harnessed through growing application of intelligent transport systems across the world. Moreover, the data collected from the sensing platforms such as intra vehicular and urban sensing platform will help in achieving the primary aim of Intelligent Transport Systems (ITS) such as access and mobility, economic development, and environmental sustainability. All the precedent factors will help boost the market growth over the forecast period.

As per automobile industry estimates, in 2015 there were around 1.3 billion vehicles plying on the road worldwide and with growing economy in developing regions, the number is expected to rise over 2 billion by 2040. The development of new roads and bypasses will not suffice the ever increasing traffic level loads in urban areas across the globe. However, with the combination of new transport analytics solutions and communications technology with the aid of Artificial Intelligence (AI), large amount of traffic data can be analyzed in real time to cope the growing number of vehicles. Such developments across the transportation and communication sector will propel growth of the market for transportation analytics solutions over the forecast period.

Grand View Research has segmented the global transportation analytics market on the basis of type, deployment, application, and region:

  • Transportation Analytics Type Outlook (Revenue, USD Million, 2016 - 2027)
    • Descriptive
    • Predictive
    • Prescriptive
  • Transportation Analytics Deployment Outlook (Revenue, USD Million, 2016 - 2027)
    • On-premise
    • Cloud
    • Hybrid
  • Transportation Analytics Application Outlook (Revenue, USD Million, 2016 - 2027)
    • Traffic Management
    • Logistics Management
    • Planning & Maintenance
    • Others
  • Transportation Analytics Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • Japan
      • China
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

Find more research reports on Next Generation Technologies Industry, by Grand View Research:

  • Cleaning Robot Market – Major functions of a cleaning robot include determining the position of the area to be cleaned, identifying the shortest path to occupy that position, and cleaning the desired area with the attached vacuum cleaner.
  • Server Market – The market for server has witnessed a shift from colocation data centers to managed data center services. Owing to the cost advantages achieved by managed data center services, enterprises are adopting virtual servers that help in extending the server adoption by renting the networking equipment, connecting devices and peripherals, and cloud space.
  • Energy Management Systems Market – The market has witnessed considerable growth over the past few years owing to the rising awareness and benefits of implementing energy management system (EMS) solutions across industries and commercial & residential properties.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected] 
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter

SOURCE Grand View Research, Inc.

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