Dublin, April 05, 2022 (GLOBE NEWSWIRE) -- The "Transportation Systems and Analytics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Transportation Systems and Analytics Market to Reach $113.4 Billion by 2026
The global market for Transportation Systems and Analytics estimated at US$57.4 Billion in the year 2020, is projected to reach a revised size of US$113.4 Billion by 2026, growing at a CAGR of 12.1% over the analysis period. Analytics Solutions, one of the segments analyzed in the report, is projected to grow at a 12.9% CAGR to reach US$60.7 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Management Solutions segment is readjusted to a revised 11.1% CAGR for the next 7-year period. This segment currently accounts for a 34.7% share of the global Transportation Systems and Analytics market.
Rising impetus for enhancing road safety and escalating socio-environmental and economic implications of traffic congestions worldwide are the key driving factors for investments in advanced transportation systems and analytics. Banking on the ever-growing fundamental vitality of the said implications, these are likely to remain strong growth propellants for the sector in the upcoming years.
Sustainable transportation systems are the future of modern cities and the focus on efficient and environmentally friendly mobility will only gather additional focus in the upcoming years since quality of life of modern citizens depends on it. Transportation analytics systems are designed to extract data pertaining to transportation and offer actionable insights. Built on powerful analysis and reporting tools, these systems measure performance related to transport logistics.
Analytics systems automatically receive data from multiple sources, which is processed for generating exhaustive reports that offer meaningful insights to help organizations in reducing traffic congestion, optimizing the public transport system and improving efficiency. The market encompasses a broad range of transport management solutions including ticketing, fleet and parking management systems to assist companies in managing logistics and transportation functions.
The U.S. Market is Estimated at $17.5 Billion in 2021, While China is Forecast to Reach $20.9 Billion by 2026
The Transportation Systems and Analytics market in the U.S. is estimated at US$17.5 Billion in the year 2021. The country currently accounts for a 28.48% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$20.9 Billion in the year 2026 trailing a CAGR of 14.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.2% and 11% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR while Rest of European market (as defined in the study) will reach US$24 Billion by the close of the analysis period.
In the coming years, more advanced deployments are expected in small towns and rural areas. More accessible and affordable transport system solutions are expected to prove beneficial for all types and sizes of cities. Factors such as smart cities, metros and high-speed railways make a significant contribution to adoption of smart solutions.
Ongoing efforts by various countries to promote smart cities and implement sophisticated commuting systems are expected to augment the demand for advanced transportation systems. The market growth is also ignited by increasing investment in smart connectivity platforms, rapid urbanization and integration of sophisticated technologies into existing transportation analytics solutions.
Increasing transition of people to urban areas coupled with rising population is likely to drive the demand for transportation systems and analytics for dealing with traffic issues. Traffic congestion leads to environmental concerns, increases fuel consumption, pushes travel time and reduces the effectiveness of transportation management.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Impact on Transportation Systems
- Traffic Reduction in Select Cities Across the Globe During the National Emergency Period due to Coronavirus Pandemic from the Period March 12th to October 25th 2020
- IoT & AI Set to Reshape the Public Transit Systems in COVID Era
- COVID-19 Pandemic to Expedite Smart City Initiatives
- Competition
- Recent Market Activity
- Transportation Systems and Analytics: A Prelude
- Key Components of Transportation Systems
- Application Markets
- Adoption of Smart Vehicles & Advanced Technologies to Drive Growth
- Geographic Market Analysis
2. FOCUS ON SELECT PLAYERS (Total 192 Featured)
- BluJay Solutions Ltd.
- Cellint Traffic Solutions Ltd.
- Cubic Corporation
- Deltion Ltd.
- EMKAY, Inc.
- Garmin Ltd.
- Honeywell International Inc.
- International Business Machines Corporation
- Image Sensing Systems, Inc.
- INRIX, Inc.
- Kapsch AG
- LeddarTech Inc.
- Moxa Inc.
- NovAtel Inc.
- Omnitracs, LLC
- Ryder System, Inc.
- Siemens AG
- Thales Group
- TomTom N.V.
- Trimble Inc.
3. MARKET TRENDS & DRIVERS
- Rise in Traffic Congestion Leads to Increasing Uptake of Traffic Management Solutions
- Average Annual Economic Losses (In US$ Billion) Caused by Traffic Congestions in US Cities
- Growing Number of Road Accidents and Need to Ensure on-Road Safety to Commuters Drives Business Case for Transportation Systems
- Global Breakdown of Deaths for Road Accidents by High-Income, Middle-Income and Low Income Countries
- Continued Rise in Vehicular Traffic and Need to Regulate Traffic Flow Drive ITS Market
- Advanced Communication Networks Critical to Adapt to Novel Travel Patterns
- Predictive Analytics Steps in to Improve Transportation Ecosystem
- Emerging Transport Technologies with Potential to Transform Entire Mobility & Delivery Ecosystem
- Connected Cars Unfurl New Growth Avenues
- Increasing Number of Mega Cities: A Key Driver
- Proliferation of Smart Cities to Drive Demand
- Smart Parking and Traffic Management: The Future of Urban Mobility in Countries across the World
- Government Investment In Smart Transportation Accelerate Growth
- Bus Rapid Transit Systems for Smart Mobility in Urban Areas
- Rapid Urbanization Triggers Opportunities
- Infrastructure Investment Patterns Strongly Influence the Market
- Usefulness of Big Data Analytics for the Transportation Industry
- Leveraging Data and Analytics for Smart Transportation Solutions
- Data Analytics Tools Aid Better Planning and Management of Transportation Systems in Big Cities
- Huge Opportunity for T&L Companies to Leverage Data Analytics for Business Growth
- Technology Innovations & Advancements
- Tolling as Means to Reduce Road Congestion & Vehicular Pollution Drives Demand for ETC Systems
- Importance of Transportation Systems in Rail Sector
- Data Science and Analytics in Airways Industry
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/hckp74
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