Global Transportation Analytics Market by Type (Predictive, Prescriptive, Descriptive) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global transportation analytics market was valued at USD 7.2 billion in 2019. It is projected to grow at a compound annual rate (CAGR), of 15.6% between 2020 and 2027. Market growth is primarily driven by factors such as increasing adoption of smart transport initiatives and the Advanced Traffic Management System, (ATMs), which are being implemented around the globe. These analytics solutions offer many benefits, including a reduction in fuel consumption, travel time, and pollution. Market growth is expected to be facilitated by a shift towards automation of operational processes through the use of Artificial Intelligence and Machine Learning.

Transport analytics systems, which are also called Intelligent Transportation Systems (ITS), make traffic monitoring simple. This reduces road accidents and harmful carbon emission. According to the Transportation Institute, Americans' drivers use more than 3 billion gallons per year and commuters spend an average of 42 hours per year stuck in traffic. This results in a regional expenditure of USD 160billion, or USD 960 per commuter. The rising population and rapid urbanization of emerging economies will also influence traffic solutions demand. These factors will likely boost growth prospects in the near future.

Market growth will likely be driven by government initiatives to develop smart cities. This will also contribute to the adoption and use of transportation analytics solutions related to intelligent transport systems. In 2018, the U.S. Department of Transportation provided USD 63 billion for major transportation infrastructure projects in the U.S. Traffic congestion has also been caused by an increase in passenger and commercial vehicles. Analytics in intelligent transport systems is needed to reduce traffic jams, divert traffic away and minimize the chance of collisions. Analytics vendors must address privacy and data security in the next few years.

China's Intelligent Transport System Association, which is a consortium of various countries around the globe that has been involved in smart cities initiatives, has set a goal to invest USD 30 Billion in the intelligent transport industry by 2020. Similar to Dubai's Plan 2021, Dubai's government aims at transforming infrastructure in relation to transport and other amenities. Translink, a Canadian regional transport authority, selected Cellint Corporation in January 2019 to provide travel pattern analysis for its North Shore Transportation Planning Project, which is worth billions of US dollars. Smart cities and smart transportation initiatives worldwide will undoubtedly increase the use of transportation analytics in the future.

The market offers a variety of data collection and analytics options, including vehicle classification counts, traffic volume counts, travel time delays, and parking studies. City planners record traffic volume and other parameters in order to create models that optimize public transport and traffic movement. This is done to ensure greater connectivity and safety for commuters. In the case of Citi Logik's and Vodafone's projects with Transport for London (TfL), more than 10 billion data points were gathered. These data points were used to generate journey matrices for approximately 1.2 billion trips using a variety of algorithms. The same data was also used to supplement the roadside sensor network data to support other operations. Analytics will be a rapid and beneficial tool for the management and operational functions of the transport industry during the forecast period.

Type Insights

The market for transportation analytics has seen a steady demand for both predictive and descriptive types. This is due to the adoption of smart cities and smart transport concepts around the globe. The largest market share for descriptive analytics was in 2019, due to growing adoption of big data and advances in digital technology. Many vendors offer integrated solutions that combine descriptive analytics with prescriptive and predictive analytics. Transport companies are best suited to deploy descriptive analytics if they are focused on optimizing sales and operations and are able to avoid large investments.

Transport companies and other stakeholders need to be competitive. They use advanced analytics (predictive, prescriptive) in order to forecast future trends. Forecasting helps companies make informed decisions that increase their profitability, reduce traffic congestion, decrease carbon emissions, and improve road safety. Traffic information is a key element of the new Advanced Traffic Management Systems market (ATMS). Analyzing the data and information from the commercial traffic industry can give valuable insight into future ATMS products.

Application Insights

There are three segments to the application market: traffic management, logistics management and planning and maintenance. Traffic management is the dominant market segment, and will likely register a substantial CAGR of 15.1% during the forecast period. Video management software that integrates video analytics and video management software will be able to address traffic congestions and accidents due to poor traffic management. Analytics in traffic management can also reduce carbon emissions, providing environmentally friendly traffic solutions.

The forecast period will see a significant increase in the planning and maintenance segment. To improve long-term operational and financial health, asset planning, management, maintenance have become critical functions in the transport industry. IBM helped a major railroad operator with over 20,000 miles of track to deploy thousands of sensors at the tracksside to monitor the condition and movement of the wheels and axles. The company can now conduct proactive inspections and repairs, and reduce the risk of equipment failure by using predictive modeling and machine learning.

Information on Deployment

Industry players use a variety of deployment methods, including cloud, hybrid, and on-premise. Cloud deployment is the preferred method for deploying this technology, and it is expected to continue its dominance in the next eight years. Cloud technology's flexibility and scalability, security features, and control over the datacenter are all factors that will increase its utility in the provision of transportation analytics solutions. According to tech industry experts, 60% of workloads are currently run on hosted cloud services as of 2019.

The forecast period will see significant growth in hybrid cloud. This cloud includes integrated environments that include public, private, and on-premise. Cloud computing helps companies be more efficient and consolidating both cloud and analytics allows them to store, process and interpret their data in a way that best suits their customers' needs. There has been an explosion in data capture from different sources, including data collection points, on-board sensors, vehicle location systems, passenger counting, ticketing and fare collection system, and data collection points. Analytics and cloud computing have the extraordinary potential to provide insights into managing and planning transportation networks over a long period of time.

Regional Insights

North America and Europe will be the most important regions in the forecast period due to the early adoption of transport analytics solutions. Asia Pacific is expected to be the fastest-growing regional market due to the growing number of smart cities and smart transportation initiatives in the region. Japan, South Korea and Australia are expected to lead the way in traffic and transport management initiatives. In February 2017, China unveiled its 13th Five Year Plan for Modern Comprehensive Transportation System. This plan aims to establish a modern, efficient, sustainable, and safe integrated transportation system by 2020.

Many initiatives are being pursued by governments at both the county and state levels around the world to improve intelligent transportation practices. In 2013, Los Angeles, U.S.A, introduced the Automated Traffic Surveillance and Control. It has approximately 4,500 traffic signals covering 469 miles. This system has been one of the most advanced in terms of reducing traffic congestion and eventually easing it over time. These initiatives will increase the utility and sustainability of transportation infrastructure.

Market Share Insights & Key Companies

Industry players will be able to access emerging markets quickly and improve their technological capabilities by forming partnerships, strategic mergers and acquisitions. Product differentiation and product upgradation are expected to open the door for companies to develop in the market. There is also the possibility of competition from rising startups and transport analytics startups like Sixgill, Conduent and Urbanlogiq.

Cubic purchased GRIDSMART Technologies Inc. in January 2019. This company makes video tracking products for the intelligent traffic system market. GRIDSMART Technologies Inc. specializes in video detection at intersections using computer vision modelling and machine learning. This will increase Cubic Corporation's product portfolio and customer base. In January 2020, Sisense and Periscope Data merged. Sisense is now known as Periscope Data for cloud data teams. The merging of these two companies will create a single, integrated, and comprehensive data analytics platform that is available to their customers. The following are some of the most prominent players in the market for transportation analytics:

• IBM Corporation

• Cubic Corporation

• Sisense Inc.

• Oracle Corporation

• Inrix Corporation

• Cellint Corporation

• Alteryx Inc.

• Hitachi Ltd.

• SmartDrive Systems Inc.

• Omnitracs LLC

Up Market Research published a new report titled “Transportation Analytics Market research report which is segmented by Type (Predictive, Prescriptive, Descriptive), By Players/Companies Hitachi Ltd, Cubic Corporation, Oracle Corporation, Cellint Corporation, Sisense Inc, IBM Corporation, SmartDrive Systems Inc, Omnitracs LLC, Inrix Corporation, Alteryx Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Transportation Analytics Market Report Segments:

The market is segmented by Type (Predictive, Prescriptive, Descriptive).

Transportation Analytics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Transportation Analytics Market

Overview of the regional outlook of the Transportation Analytics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Transportation Analytics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Transportation Analytics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Predictive

                2. Prescriptive

                3. Descriptive

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Transportation Analytics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Transportation Analytics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.