DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The Transportation Analytics Market Size is Expected to Grow from USD 10.3 Billion in 2019 to USD 27.4 Billion by 2024, at a CAGR of 21.6%.
Increasing population and growing adoption of connected and smart technologies in transportation infrastructure is expected to drive the overall growth of transportation analytics market
The transportation analytics market is driven by various factors, such as connected and smart technologies in transportation infrastructure. However, recovering ROI from legacy systems hinders the growth of the market.
Ship monitoring under the waterways mode segment is expected to grow at the highest market size during the forecast period
The transportation analytics market, based on mode, has been segmented into roadways, railways, airways, and waterways. The growth of ship monitoring under the waterways mode is having the highest market size for the forecast period. This is due to the cost optimization factor which is majorly driving ship monitoring system and to improve decisions based on the real-time ships position information.
Europe is expected to constitute the largest market size during the forecast period
Europe is expected to have the largest market size during the forecast period, owing to the growth in investments and funding, and companies are attracting investments to develop transportation solutions and services for different applications in roadways, railways, airways, and waterways.
The rapidly growing economies, such as Germany, UK, France, and Spain, are implementing transportation analytics driven by the strong compliance and regulatory landscape and increasing investments from the government as well as companies to address issues in the transportation sector and to improve the operational efficiency.
The companies operating in Europe would benefit from the flexible economic conditions, industrialization-and globalization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a huge impact on the business community.
- Growing Adoption of Connected and Smart Technologies in Transportation Infrastructure
- Rising Urban Population and High Demographic Rates
- Government Initiatives for Smart Cities
- Recovering Roi From Legacy Systems
- Compliance With Stringent Transportation Regulatory Policies
- Designing and Developing Connected Vehicles Compatible With Its
- Evolution of Semi-Autonomous and Autonomous Vehicles
- Moving Diversified Portfolio of Goods to the Growing Marketplace
- Integration Complexities Over Legacy Systems and Network
- General Data Protection Regulation
- Federal Trade Commission
- Indra Sistemas
- Kapsch Trafficcom
- SmartDrive Systems
- Thales Group
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