Future Scope of Transportation Analytics Market 2020 | Industry Analysis
Posted by soham patil on January 6th, 2021
Global Transportation Analytics Market was valued at USD 10.5 billion in 2019 which is expected to reach USD 29.8 billion by 2027 at a CAGR 22.2%.
Transportation analytics enable the automation of predictive analysis to identify business needs, project future trends, and build long term strategies for optimizing revenue. The increase in the global population and the need for developed transformation is expected to boost the global transportation analytics market growth. Various strategies adopted by key players like launches, mergers and acquisition, and product enhancement will drive the market growth.
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Increase in passenger travel as well as development in transportation infrastructure are key driving factors which are expected to boost the global transportation analytics market growth. Furthermore, Increase in government initiatives and smart city development activities will have the positive impact on global transportation analytics market growth. Moreover, rapid globalization and urbanization will fuel the global transportation analytics market growth. Also, increase in technological advancement which is expected to propel the market growth in near future. For instance, in June 2019, Iteris had launched new transportation analytics platform named as ClearGuide. ClearGuide is designed to help transportation agencies more efficient and safe mobility across the world.
However, stringent transportation rules and regulations will affect the growth of global transportation analytics market. Also, an integration complexity over legacy systems and network is expected to hamper the global transportation analytics market growth.
Global Transportation Analytics Market is segmented into component such as Hardware, and Software, by transport type such as Railway, Aviation, Roadway, and Maritime. Further, Global Transportation Analytics Market is segmented into end user such as Private Enterprises, and Public Enterprises.
Also, Global Transportation Analytics Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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By Transport Type
By End user
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About the Authorsoham patil
Joined: September 1st, 2020
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