Increasing population, and growing adoption of connected and smart technologies in transportation infrastructure is expected to drive the overall growth of transportation analytics market
The transportation analytics market size is expected to grow from USD 10.3 Billion in 2019 to USD 27.4 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period. The transportation analytics market is driven by various factors, such as connected and smart technologies in transportation infrastructure. However, recovering ROI from legacy systems hinders the growth of the market.
Ship monitoring under the waterways mode segment is expected to grow at highest market size during forecast period.
The transportation analytics market, based on mode, has been segmented into roadways, railways, airways and waterways. The growth of ship monitoring under the waterways mode is having the highest market size for the forecast period. This is due to the cost optimization factor which is majorly driving ship monitoring system and to improve decisions based on the real-time ships position information.
Europe is expected to constitute the largest market size during the forecast period
Europe is expected to have the largest market size during the forecast period, owing to the growth in investments and funding, and companies are attracting investments to develop transportation solutions and services for different applications in roadways, railways, airways and waterways.
The rapidly growing economies, such as Germany, UK, France, and Spain, are implementing transportation analytics driven by the strong compliance and regulatory landscape and increasing investments from government as well companies to address issues in the transportation sector and to improve the operational efficiency. The companies operating in Europe would benefit from the flexible economic conditions, industrialization-and globalization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a huge impact on the business community.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the transportation analytics marketplace.
- By Company: Tier II - 15%, Tier II - 40%, and Tier III – 45%
- By Designation: C-Level Executives - 50%, Directors - 30%, and Others - 20%
- By Region: North America - 26%, Europe - 32%, APAC - 32%, MEA - 10%,
The report includes the study of the key players offering transportation analytics solutions and services. The major transportation analytics vendors include IBM (US), Siemens(Germany), Cubic (US), Cellint (Israel), Alteryx (US), Kapsch Trafficcom (Austria), INRIX (US), Indra Sistema (Spain), Trimble (US), TomTom (Netherland), Iteris (US), Conduent (US), Hitachi (France), Thales (France), OmniTracs (US), Techvantage (US), CARTO (US), Syntelic (US), SmartDrive Systems (US), Envista (US). The study includes in-depth competitive analysis of these key players in the transportation analytics market, with their company profiles, recent developments, and key market strategies.
The market study covers the transportation analytics market across segments. It aims at estimating the market size and the growth potential of this market, across different segments such as type, mode and regions. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall transportation analytics market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.