Transportation Analytics Market Size
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Transportation Analytics Market Size. The growth sectors of the Transportation Analytics Market Size are identified with precision for a better growth perspective.
The global transportation predictive analytics market is presumed to garner USD 1,900 million with a CAGR of 22% during the forecast period (2016-2022), owing to the rising data volume across transportation sector, asserts Market Research Future (MRFR). Predictive analytics is referred to as a business technology which offers a predictive score for customers and organizational elements.
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In order to make predictions, the predictive analysis uses different modeling and statistic techniques, business intelligence tools, data mining, and machine information. With the advent of a voluminous amount of unstructured and structured data along with ground-breaking technological advancements, the market is likely to boom. Transportation predictive analytics offers analysis of logistics data which can be used to transform the way companies perform the business, in terms of operational efficiency, cost-efficiency, dynamic pricing, and visualization of data.
Drivers and Constraints Impacting the Market
With the augmenting data volume across transportation sectors and several private agencies, the market for transportation predictive analytics is likely to stimulate. Adoption of the internet of things (IoT), software-based storage devices, cloud computing, and technological advancements, the market is likely to flourish during the assessment period. Moreover, with the increasing demand for cost saving, integrated security & safety, operational efficiency, and dynamic pricing of data, the market is considered to propel across the globe. In the era of rapid technological advancement, precise and accurate data of transport management along with the rising demand for efficient transportation, and minimizing the overall risk management is in high demand. The increasing need for advanced analytics in order to predict future outcomes and customer demands are some of the other factors fueling the market growth.
On the flip side, high initial cost coupled with technical challenges associated with the simulation software and integrating transportation predictive analytics, the market is likely to experience a slowdown in the coming years. Moreover, changing regulations resulting in the restructuring of analytics model is likely to deter the market growth.
Global Transportation Predictive Analytics Market: Segmental Analysis
The global transportation predictive analytics market has been segmented on the basis of component, transportation type, and end-user.
By mode of component, the global transportation predictive analytics market has been segmented into software and hardware. Among these, the software service solution is considered to expand at the highest growth rate owing to the penetration of cloud-based services coupled with the augmenting demand smart transport management.
By mode of transportation type, the global transportation predictive analytics market has been segmented into railway, roadway, maritime, and aviation. Among these, the aviation and roadway systems are considered to occupy the largest market share.
Industry Updates
January 16, 2019: A team of researchers at the University of Central Florida has partnered with the city of Orlando to use real-time traffic data in order to reduce car crashes and create fatality-free roads.
Competitive Dashboard
The prominent players operating the global transportation predictive analytics market are Xerox Corporation (U.S.), SAP SE (Germany), Tiger Analytics (U.S.), Microsoft Corporation (U.S), International Business Machines Corporation (U.S.), T-Systems (Germany), Cubic Corporation (U.S.), Cyient Insights (India), Predikto Inc. (U.S.), and Space Time Insight Inc. (U.S.).
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To have accurate and precise data of transport management and the increase demands of efficient transportation, avoidance of accident technology and reducing the overall risk management and safety measures.
The integral part of the better transportation decision drive transportation predictive management and increasing focus of government in building efficient transportation system is resulting in the growth of transportation predictive analytics market.
The existing issues such as lack of safe transportation and more importance towards passengers safety .The increasing demand of transportation predictive analytics market is because of the business which are highly involved izn transportation are increasing rapidly.The increasing data volumes across transportation sector and various private agencies are the key drivers governing the market growth of the transportation predictive analytics market.
The Transportation Predictive Analytics Market aims to provide the predictive analysis of logistics data and can be used to transform the way companies do business, particularly in terms of cost efficiency, operational efficiency, cost saving, dynamic pricing and collection and visualization of data.Request a Sample Report @https://www.marketresearchfuture.com/sample_request/2672The transportation predictive analytics market is growing rapidly over 22% of CAGR and is expected to reach at USD 1,900 million by the end of forecast period.Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
On basis of component type the transportation predictive analytics market consists software and hardware.
The study indicates that software service solutions would grow at a highest rate in the transportation predictive analytics market by the forecast period.
Transportation Analytics MarketIn this rapid advancement in technology industry.
To have accurate and precise data of transport management and the increase demands of efficient transportation, avoidance of accident technology and reducing the overall risk management and safety measures.
The integral part of the better transportation decision drive transportation predictive management and increasing focus of government in building efficient transportation system is resulting in the growth of transportation predictive analytics market.
The existing issues such as lack of safe transportation and more importance towards passengers safety .The increasing demand of transportation predictive analytics market is because of the business which are highly involved in transportation are increasing rapidly.The transportation predictive analytics market is growing rapidly over 22% of CAGR and is expected to reach at USD ~1,900 million by the end of forecast period.The global transportation predictive analytics market is presumed to garner USD 1,900 million with a CAGR of 22% during the forecast period (2016-2022), owing to the rising data volume across transportation sector, asserts Market Research Future (MRFR).
In order to make predictions, the predictive analysis uses different modeling and statistic techniques, business intelligence tools, data mining, and machine information.
With the advent of a voluminous amount of unstructured and structured data along with ground-breaking technological advancements, the market is likely to boom.
The market is also gaining well from the rising funds for research and development projects.Segmentation:The transportation predictive analytics market has been studied and segmented by MRFR analysts to create a better understanding of the market.
The hardware segment includes servers and storage.
The software segment has been studied on the basis of private, public, on-premise service, or hybrid cloud.By transport type, the market report includes roadway and railway transportation.By end user, the global market report on the transportation predictive analytics market can be segmented into private enterprises and public enterprises.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2672Regional Analysis:The easy influx of funds, superior structure, inclination towards latest technologies are some of the factors that would support the transportation predictive analytics market in its expansion in North America and Europe.
In Asia Pacific, China, South Korea, Japan, and others would make sure the market gets enough grounds to explore opportunities.Competitive Landscape:The global market report on the transportation predictive analytics market includes an analysis of the latest steps taken by companies like International Business Machines Corporation (U.S.), Cubic Corporation (U.S.), Microsoft Corporation (U.S), Space Time Insight, Inc. (U.S.), Xerox Corporation (U.S.), SAP SE (Germany), Cyient Insights (India), Predikto Inc. (U.S.), T-Systems (Germany), Tiger Analytics (U.S.), and others.Industry News:In September 2020, C.H.
Robinson, a well-known global logistics company, has launched its extensive plan of reinventing the way transportation is purchased.
To attain this, the company has introduced Procure IQ, a new tool that uses data from the world’s largest shipper and carrier community to ensure a proper disruption of the traditional methods and one-size-fits-all annual bidding approach that is used for buying freight transportation.The system has been developed inside Robinson Labs, which is the company’s innovation incubator.
Post COVID-19, the ride-hailing is about to jump off and the market size is about to make growth upto 55.9% from 2020 to 2021.
With perfect technical safety measures like mask detection for drivers, the ride-hailing is about to boom more than ever as public transportation is still a threat.
