Transportation Systems and Analytics Market Report Overview
Transportation Systems and Analytics Market size is analysed to grow at a CAGR of 12.1% during the forecast 2022-2027 to reach $127.6 billion by 2027. Globalization, hyper-population, and the urge for high travel convenience have all contributed to the need for an efficient transportation system. The increasing use of analytics and advanced transportation control systems, as well as system integrators, are assisting in the resolution of various transportation system problems. The applications derived from the technologies are greatly benefiting users, and more innovations are expected in the coming years. The transportation system and analytics market will be influenced by ongoing trends towards integrated logistics, globalisation, and a focus on information and communication technology. While the market is approaching intense competition, it is well-positioned to benefit from positive efforts toward integrated logistics. Increased focus on safety and security of intelligent transport system (ITS) is driving the growth of Transportation Systems and Analytics Market. Transportation Systems and Analytics applications are Remote Sensing, Transit Management, Traffic Incident Management, Parking Management and Others. Several government organisations are working to improve their transportation infrastructure in order to ensure overall economic development, which is expected to fuel industry growth.
Transportation Systems and Analytics Market Segment Analysis – By Solution
By Solution, Transportation Systems and Analytics Market has been segmented into Analytics Solution, Advanced Transportation Control System and Management Solutions. In the year 2021, the analytics solution segment is expected to have the largest market share. By analysing data, the Analytics Solution provides users with a detailed understanding of business operations, including drivers for improvement. It also aids them in making decisions based on historical and real-time data about their performance in relation to strategic goals and objectives. Analytics Solution is another term for Big Data Analytics, which is the application of a sophisticated set of analytic techniques to very large, diverse, and complex data sets in order to discover patterns and trends that aid in decision making and performance. Increased investment in smart connectivity platforms, rapid urbanisation, and the integration of sophisticated technologies into existing transportation analytics solutions will also fuel market growth. The increasing migration of people to cities, combined with rising population, is expected to drive demand for transportation systems and traffic analytics.
Transportation Systems and Analytics Market Segment Analysis – By End-User
By End-User, Transportation Systems and Analytics Market has been segmented into Roadways, Railways, Airways, Seaways, Others. The Transportation Systems and Analytics market’s fastest-growing sector is Roadways. The growing number of commercial fleets around the world, as a result of increased e-commerce and manufacturing activities, is encouraging many logistics players to implement proper asset monitoring and management systems. Companies such as GE Capital and AT&T have implemented telematics fleet solutions for continuous fleet monitoring and real-time location status, which allows these companies to schedule trips that reduce maintenance costs while increasing driver productivity. Countries such as the United States, Germany, and India have increased their investments in intelligent transportation systems and enacted legislation making telematics installations mandatory in many vehicle segments. The growing concern for road safety in these countries, which have high accident mortality rates, is propelling the Transportation Systems and Analytics market forward. Transportation systems and analytics offer a wide range of advantages to road users. These solutions provide enhanced operational visibility by generating predictive insights that assist organisations in making better-informed decisions, improving both the safety and efficiency of their assets, reducing costs associated with traffic congestion, accidents, and driver behavior issues, and much more. In July 2021, Holcim India launched Transport Analytics Center to improve logistics.
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Transportation Systems and Analytics Market Share Segment Analysis – Geography
By Geography, Transportation Systems and Analytics Market has been segmented under North America, Europe, APAC, South America and RoW. North America is expected to have the largest market share of 35% in 2021. North America is the most advanced Transportation Systems and Analytics market. In order to manage the region’s increasing traffic and public transportation system, several ITS systems are in place. The region is seeing an exponential increase in commercial drone sales, with countries such as the United States imposing strict regulations on drone pilots and registrations. As a result, it is expected to generate a significant demand for ITS systems in the airline industry over the forecast period. In the case of passenger and commercial road vehicles, North America has a strong demand for dedicated short-range communication devices that prevent traffic jams, which drives the region’s demand for Transportation Systems and Analytics market. Over 20,000 miles of roads, highways, and main streets will be modernized as part of the American Jobs Plan. It will renovate the most economically important bridges in the country that need to be rebuilt. The Intelligent Transportation Systems Joint Program Office (ITS JPO) of the United States Department of Transportation’s (U.S. DOT’s) Research and Innovative Technology Administration conducts research on behalf of the U.S. DOT and all major modes to develop transportation mobility, safety, and environmental sustainability. The ITS JPO Strategic Plan 2020-2025 will accelerate the adoption of several modern ICT technologies, including electronic toll collection and traveler information systems.
Transportation Systems and Analytics Market Drivers
Growing traveller awareness of how to effectively manage, monitor, and streamline their travel, as well as less congestion and traffic management, may have a positive impact on transportation systems and analytics market growth:
Smart vehicles and applications that use road sensing are widely used in verticals such as roadways, railways, seaways, airways, and intermodal transportation. The incorporation of intelligent technologies provide extensive growth opportunities by offering unrestricted and smooth mobility to the growing population and traffic problems, as well as driving efficiency and quick service, which may increase demand for transportation analytics systems over the forecast period. Disruptive technologies such as advanced traveller systems, advanced vehicle control systems, and analytics are also expected to drive product demand across railways, roadways, and other verticals. The transportation systems and analytics market is experiencing a surge in demand as a result of the introduction of electronic access, mobility management, traffic sensors, and displays to efficiently monitor the system. The proliferation of smart vehicles on smart roads primarily contributes to improved communication, increased safety, and advanced infrastructure that automates the overall management of control systems. Growing traveller awareness of how to effectively manage, monitor, and streamline their travel, as well as less congestion and traffic management, may have a positive impact on transportation systems and analytics market growth in the coming years. In March 2021, Thales Group unveiled new digital railway solutions to improve passenger convenience and operational efficiency in the pursuit of greener mobility. The solution, which is based on artificial intelligence video analytics, makes use of the existing CCTV network at stations and onboard trains to provide real-time information on passenger density.
Rise in Urbanization, Increasing Mega Cities, and Population is expected to boost Transportation System and Analytics Market:
More than half of the world’s urban population lives in Asia, where some countries, such as India and China, already have over a billion people living in cities. North America, Europe, and Africa are the other regions with relatively high urban populations. Increasing urbanisation is a sign of the growing complexities in cities around the world, with transportation needs being one of them. One of the major challenges that the transportation markets in these regions face is resolving these complexities. Technological advancements have resulted in a significant shift in operational efficiency. Today, the Internet of Things has made developing connected networks feasible in nearly all major operating sectors. Most transportation-related complexities have been resolved as a result of the integration of this transportation system. The increasing growth rate of megacities around the world, as well as numerous technological innovations, are expected to create a slew of new opportunities and expected to boost the Transportation Systems and Analytics Market growth.
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Transportation Systems and Analytics Market Challenges
High installation cost and data complexity issues and Integration complexities with legacy systems are some of the challenges for the market’s growth:
High installation costs, data complexity issues, and integration complexities with legacy systems are some of the market’s growth challenges. High cost of maritime equipment and High installation cost and data complexity issues is expected to hinder market growth. The complexity of installing an advanced control system, which necessitates the construction of a Traffic Management Center (TMC) at a high cost, may pose a challenge to industry growth. Slow infrastructure growth, combined with a lack of proper technical knowledge, are the factors that are expected to impede product demand and eventually hinder market growth.
Transportation Systems and Analytics Market Landscape
Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Transportation Systems and Analytics market. In 2021, the market of Transportation Systems and Analytics Market share has been fragmented by several companies. Transportation Systems and Analytics top 10 companies include
In September 2021, Geotab, a connected transportation solutions provider, announced the launch of a new transportation analytics platform within its Intelligent Transportation Systems (ITS) line of business.
In March 2019, Siemens has expanded its portfolio of smart transportation products. According to the company, the new eHighway system is twice as efficient as conventional internal combustion engines. This Siemens Mobility innovation provides power to trucks via an overhead contact line.
In January 2019, The Northern Ireland Department for Infrastructure (DfI) awarded Siemens a four-year contract. The contract includes both maintenance and development of the existing traffic management systems, which are primarily located in Belfast.
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The analytics solution segment in the transportation system and analytics market segmented by solution is expected to have the largest market share in 2021. The Analytics Solution provides users with a detailed understanding of business operations, including drivers for improvement, by analysing data. It also helps them make decisions based on historical and real-time data on their performance in relation to strategic goals and objectives.
In 2021, North America held to have the largest market share of 35%. North America is the most advanced market for Transportation Systems and Analytics. Several ITS systems are in place to manage the region’s growing traffic and public transportation system. Commercial drone sales in the region are increasing at an exponential rate, with countries such as the United States imposing stringent regulations on drone pilots and registrations. As a result, significant demand for ITS systems in the airline industry is expected over the forecast period.
The key driver for the growth and development of the transportation system and analytics market are government regulations and initiatives. With growing concerns about road safety and vehicle theft, governments around the world, including the United States, Europe, China, and Brazil, are mandating the installation of factory-fitted telematics and safety devices in vehicles.
Relevant Report Titles:
Transportation Management System Market
Transportation Predictive Analytics and Simulation Market
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