Transportation Predictive Analytics Market
The global transportation predictive analytics market size was USD 9.68 Billion in 2022 and is expected to register a revenue CAGR of 21.6% during the forecast period. The global Transportation Predictive Analytics market is poised for substantial growth, fueled by the rising adoption of smart transportation initiatives and Advanced Traffic Management Systems (ATMs). Key factors driving this growth include an increasing urban population, high demographic rates, and various government initiatives aimed at developing smart cities.
Government investments in transportation infrastructure are significant contributors to market expansion. For example, in December 2023, the U.S. Department of Transportation allocated over USD 63 billion for major transportation projects across the country. The increasing number of passengers and commercial vehicles has resulted in heightened traffic congestion, making the application of analytics in intelligent transport systems critical for reducing traffic jams, improving traffic flow, and minimizing collision risks.
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City planners are now leveraging predictive analytics to enhance commuter connectivity and safety. By monitoring traffic volumes and other parameters, they can optimize public transportation and traffic movement. A notable example is the collaboration between Citi Logik and Vodafone with Transport for London (TfL), which collected over 10 billion data points. This data enabled the creation of journey matrices for approximately 1.2 billion trips, enhancing the existing roadside sensor network and improving operational efficiency.
Despite the positive outlook, the market faces challenges due to stringent regulations imposed by governments aimed at reducing transportation risks. Compliance with these regulations can hinder market revenue growth, posing obstacles for companies operating in this space.
Market Insights and Segmentation
The Transportation Predictive Analytics market is categorized by type, deployment, and application.
Type Segmentation:
Descriptive Analytics: This segment is anticipated to hold the largest market share due to the increasing reliance on big data, allowing for meaningful data summarization and pattern recognition.
Prescriptive Analytics: Expected to grow at the fastest rate, this segment helps transport companies forecast trends and make informed decisions, thereby improving profitability, easing congestion, and enhancing safety.
Deployment Insights:
On-Premise Solutions: This segment accounts for the largest market share as many organizations prefer to maintain control over sensitive logistics and customer data to ensure compliance with security regulations.
Cloud Solutions: The cloud segment is anticipated to grow rapidly due to its scalability, flexibility, and enhanced security features, making it a preferred option for transportation analytics solutions.
Application Insights:
Traffic Management: Dominating the market, this segment utilizes video management software and integrated analytics to address traffic congestion and accidents. It also helps reduce vehicle emissions, supporting environmental sustainability.
Logistics Management: Projected to witness the fastest growth, this segment offers real-time visibility and tracking of goods in transit, enabling logistics managers to proactively manage delays and bottlenecks.
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Transportation Predictive Analytics Top Companies and Competitive Landscape
The global transportation predictive analytics market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products.
Some of the major companies included in the global transportation predictive analytics market report are:
IBM
Sisense Ltd.
Oracle
Cubic Corporation
INRIX
Cellint
Alteryx
Hitachi, Ltd.
SmartDrive Systems, Inc.
Omnitracs
Trimble
CARTO
Envista
TomTom
Conduent
Thales Group
Transportation Predictive Analytics Latest Industry Updates
On 29 June 2023, AFWERX developed an Uncrewed Aircraft System Traffic Management (UTM) system at the Eglin Air Force Base in Florida in partnership with the Air Force Research Laboratory’s Information Directorate. The primary objective of this implementation is to ensure the safety of drones and electric vertical takeoff and landing (eVTOL) aircraft while they take flight.
On 17 February 2022, Eve UAM, a subsidiary of Embraer, and Skyports, a prominent eVTOL infrastructure provider, established a partnership to support the Japan Civil Aviation Bureau (JCAB) in developing a new Concept of Operations (CONOPS) for Advanced Air Mobility (AAM) and Urban Air Mobility (UAM). The primary goal is to create a shared vision encompassing airspace design, operational procedures, infrastructure requirements, and other necessary elements to facilitate AAM’s safe and efficient operation in Japan.
On 8 January 2020, Sisense merged with Periscope Data, being then branded and sold as Sisense for cloud data teams. The merger of the two companies is expected to help bring together an independent, unified, and end-to-end data analytics platform for their customers.
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For the purpose of this report, Emergen Research has segmented the global transportation predictive analytics market on the basis of type, mode, deployment, application, and region:
Type Outlook (Revenue, USD Billion; 2019-2032)
Descriptive
Predictive
Prescriptive
Mode Outlook (Revenue, USD Billion; 2019-2032)
Roadways
Railways
Airways
Waterways
Deployment Outlook (Revenue, USD Billion; 2019-2032)
Cloud
On-premise
Hybrid
Application Outlook (Revenue, USD Billion; 2019-2032)
Traffic management
Logistics management
Planning & maintenance
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Transportation Predictive Analytics Market Size@ https://www.emergenresearch.com/industry-report/transportation-predictive-analytics-market/market-size
Transportation Predictive Analytics Market Share@ https://www.emergenresearch.com/industry-report/transportation-predictive-analytics-market/market-share
Transportation Predictive Analytics Market Trends@ https://www.emergenresearch.com/industry-report/transportation-predictive-analytics-market/market-trends
Transportation Predictive Analytics Regional Market Demand@ https://www.emergenresearch.com/industry-report/transportation-predictive-analytics-market/regional-market-demand
Transportation Predictive Analytics Market Analysis@ https://www.emergenresearch.com/industry-report/transportation-predictive-analytics-market/market-analysis
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