Overview:
Market Research Future (MRFR), in its report on the Transportation Predictive Analytics Market, made a forecast about the valuation where it declared that the market could reach a worth of USD 1900 million with 22% CAGR during the forecast period of 2017 to 2022. The major tailwind providers would be a demand for effective practice, smooth transport network, cost management steps, and resource handling, a growing need for the same from private fleet operators, and others. In fact, the integration of the cloud service is going to ensure better expansion for the system. 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. These segments are end user, component, and transport type.
By component, the market report includes a study of hardware and software. 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.
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Regional 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. Procure IQ is known to provide a personalized data visualization of a specific individual’s shipping lanes, routes, integrated with C.H. Robinson’s vast freight marketplace data. This creates scopes to find the optimal way to purchase transportation.
In September 2020, Geospark Analytics, an eminent name in developing applied artificial intelligence (AI) solutions to mitigate global threat and assess risk, was awarded a contract by the United States Transportation Command (USTRANSCOM). The contract would ensure that the company's Hyperion platform is used to enable analysts and operators with an all-inclusive situational awareness and prediction of risks led by AI at the global level. The system will analyze data in near real-time, which would arm the user with enough data to identify anomalies, changes in relevant activity, and track stability changes.
During the COVID-19 pandemic, the transportation system got disrupted by a series of laws implemented by governments to curb the crisis. These had a massive impact on the financial sector as well, owing to which the global market may witness some kind of a pause before going back to normalcy.
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Transportation Predictive Analytics MarketThe 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.Along with technology development, new adoptions of cloud computing, software based storage devices and internet of things (IoT) have boosted the transportation predictive analytics market.
The study indicates that rising demand of integrated security & safety, cost saving, dynamic pricing and operational efficiency of data is driving the transportation predictive analytics market.
It has been observed that the biggest restraints in the transportation predictive analytics are high initial cost and technical challenges related to integrating transportation predictive analytics and simulation software with the current systems, are the factors likely to decline the progression of market andThe transportation predictive analytics market is segmented on the basis of component and transport type.
The component segment consists of hardware and software.
The software solutions can be deployed on the basis of on-premise service, private, public or hybrid cloud.
MRFR study shows that the transportation predictive analytics market rise can be attributed the increase in volume of data in the transportation sector.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2672The growing demand for cost effective solutions, operational efficiency, integrated security & safety, and better pricing of data in the transportation sector can propel the growth of the global transportation predictive analytics market.
In the era of rapid technological progression, accurate data for transport management and the need for efficient transportation can support the expansion of the market.
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.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.
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.
Robinson’s vast freight marketplace data.
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.
