Transportation Analytics Market Size Worth $62.85 Billion By 2032 | CAGR: 21.7%

The global transportation analytics market size is expected to reach USD 62.85 billion by 2032, according to a new study by Polaris Market Research. The report “Transportation Analytics Market Share, Size, Trends, Industry Analysis Report, By Type (Descriptive, Predictive, Prescriptive); By Deployment (On-premise, Cloud, Hybrid); By Application; By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global market is experiencing growth driven by the rising expenditure of governments in the transportation sector worldwide and the expansion of smart cities in response to urbanization. Additionally, the increasing consumerization of big data and advancements in analytics technology fueled by artificial intelligence and machine learning will enhance the effectiveness of analytics in the transportation industry. Furthermore, market growth will be propelled by the acquisition of analytics startups, collaboration through mergers, and research and development investments by major industry players to enhance analytic technologies.

According to a report from the Transport Research Centre of the Czech Republic, as of 2018, there were approximately 500 Mn surveillance cameras worldwide, generating a weekly data volume of 15 Bn giga-bytes. This data generation is expected to double every two years and will be stored and analyzed to enhance and streamline public transport. The increasing adoption of intelligent transport systems globally will further harness the potential of data collection and analysis. The data obtained from sensing platforms like intra-vehicular & urban platforms will contribute to the complete objectives of the Intelligent Transport Systems (ITS), including improved access and mobility, economic development, and environmental sustainability. These factors are anticipated to drive market growth over the forecast period.

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According to estimates from the automobile industry, the number of vehicles on the road is projected to surpass 2 billion by 2040. Merely constructing new roads and bypasses will not be sufficient to handle the continually increasing traffic in urban areas worldwide. However, by combining new transport analytics solutions and communication technology with the assistance of Artificial Intelligence (AI), a substantial volume of traffic data can be analyzed in real-time to manage the growing number of vehicles. These advancements in the transportation and communication sectors are expected to drive the growth of the market for transportation analytics solutions throughout the forecast period.

Transportation Analytics Market Report Highlights

• The prescriptive analytics segment is projected to grow at a faster rate, owing to the emergence of innovative technologies based on AI & ML, coupled with the integration of IoT
• Cloud segment dominated the market, as they easily scalable and significant advancements in the cloud computing
• The panning & maintenance segment is anticipated to grow fast, as there are substantial service & repairs, downtime, and asset monitoring processes to handle
• Asia Pacific is projected to experience faster growth, primarily due to the adoption of intelligent transportation services and robust government funding for smart city plans
• The global players include IBM, Sisense, Oracle, Cubic Corporation, INRIX, Cellint, Alteryx, Hitachi, SmartDrive Systems, and Omnitracs

Polaris Market Research has segmented the transportation analytics market report based on type, deployment, application, and region:

Transportation Analytics, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Descriptive
• Predictive
• Prescriptive

Transportation Analytics, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)

• On-premise
• Cloud
• Hybrid

Transportation Analytics, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Traffic Management
• Logistics Management
• Planning & Maintenance
• Others

Transportation Analytics, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Transportation Analytics Market Report Scope