Transportation Analytics Market Worth $27.4 Billion by 2024

Roadways mode to hold the largest market size during the forecast period

According to a new market research report “Transportation Analytics Market by Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), Mode (Roadways, Railways, Airways, and Waterways), Region (North America, Europe, APAC, Latin America, MEA) – Global Forecast to 2024”, published by MarketsandMarkets™, the Transportation Analytics Market is expected to grow from USD 10.3 Billion in 2019 to USD 27.4 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period. The major factors driving the growth of Transportation Analytics Market include the increasing population and adoption of connected and smart technologies in transportation infrastructure.

The use of transportation analytics solution is increasing rapidly in roadways to ease congestion and improve road safety by effective monitoring and management of vehicular traffic; this would eventually accelerate the use of analytics in the transportation industry. Transportation analytics can help in understanding the reason for the crashes and help to overcome these issues.

Europe to hold the largest market size during the forecast period

Europe is a significant revenue-generating region for the Transportation Analytics Market. This region is considered as the most advanced region in terms of technology adoption and infrastructure. The extensive presence of key industry players offering transportation analytics solutions and services is the key driving factor for the growth of the Transportation Analytics Market. Enterprises in this region are leveraging IoT, AI and analytical technologies in their business processes to gain a competitive edge in the market.

The major Transportation Analytics Market vendors include IBM (US), Siemens(Germany), Cubic (US), Cellint (Israel), Alteryx (US), Kapsch Trafficcom (Austria), INRIX (US), Indra Sistema (Spain), Trimble (US), TomTom (Netherland), Iteris (US), Conduent (US), Hitachi (France), Thales (France), OmniTracs (US), Techvantage (US), CARTO (US), Syntelic (US), SmartDrive Systems (US), Envista (US).

Smart Transportation Market by Transportation Mode (Roadways, Railways, Airways, and Maritime), Solution (Smart Ticketing, Traffic and Freight Management, PIS), Service, Application (Shared Mobility, Public Transport), and Region – Global Forecast to 2023

See Report here https://www.marketsandmarkets.com/Market-Reports/smart-transportation-market-692.html

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