DUBLIN, April 4, 2022 /PRNewswire/ — The “Transportation Systems and Analysis: Global Market Analysis and Trajectory” Report has been added to ResearchAndMarkets.com offering.
Global market for transportation systems and analysis to reach $113.4 billion by 2026
The global market for transportation systems and analytics is estimated at US$57.4 billion in 2020, it is projected to reach a revised size of US$113.4 billion by 2026, growing at a CAGR of 12.1% during the analysis period. Analytics Solutions, one of the segments analyzed in the report, is forecast to grow at a CAGR of 12.9% to reach US$60.7 billion at 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 reset to a revised CAGR of 11.1% for the next 7-year period. This segment currently represents a 34.7% share of the global Analytics and Transportation Systems market.
The growing drive to improve road safety and the growing socio-environmental and economic implications of traffic congestion around the world are the key factors driving investments in advanced transportation systems and analytics. Trusting the ever-increasing fundamental vitality of such implications, they are likely to remain strong drivers of sector growth in the coming years.
Sustainable transport systems are the future of modern cities and the focus on efficient and environmentally friendly mobility will only attract additional focus in the years to come, as the quality of life of modern citizens depends on it. Transportation analytics systems are designed to extract transportation-related data and deliver actionable insights. Based on powerful analysis and reporting tools, these systems measure performance related to transportation logistics.
Analytics systems automatically receive data from multiple sources, which is processed to generate comprehensive reports that provide meaningful insights to help organizations reduce traffic congestion, optimize the public transportation system, and improve efficiency. The market encompasses a wide range of transportation management solutions, including ticketing, fleet and parking management systems to help companies manage transportation and logistics functions.
The US market is estimated at $17.5 billion in 2021, while China is projected to reach $20.9 billion by 2026
The market for transportation and analytics systems in the US is estimated at US$17.5 billion in the year 2021. The country currently represents a 28.48% share of the global market. Chinathe second largest economy in the world, is forecast to reach an estimated market size of US$20.9 billion in 2026 with a CAGR of 14.4% during the analysis period.
Other notable geographic markets include Japan and Canada, each forecast growth of 10.2% and 11%, respectively, over the period under review. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR, while the rest of the European market (as defined in the study) will reach US$24 billion at the end of the analysis period.
In the coming years, more advanced implementations in small towns and rural areas are expected. More accessible and affordable transport system solutions are expected to benefit all types and sizes of cities. Factors such as smart cities, subways and high-speed rail contribute significantly to the adoption of smart solutions.
The continuous efforts of various countries to promote smart cities and implement sophisticated transportation systems are expected to increase the demand for advanced transportation systems. Market growth is also fueled by increased investment in smart connectivity platforms, rapid urbanization, and the integration of sophisticated technologies into existing transportation analytics solutions.
The increased transition of people to urban areas, coupled with population growth, is likely to drive demand for transportation systems and analytics to deal with traffic problems. Traffic congestion creates environmental concerns, increases fuel consumption, increases travel time and reduces the effectiveness of transportation management.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. OVERVIEW OF THE MARKET
Influencer market insights
World market trajectories
Impact of Covid-19 and an impending global recession
Impact on Transportation Systems
Reduced traffic in selected cities around the world during the period of national emergency due to the period coronavirus pandemic March 12 to October 25, 2020
IoT and AI poised to reshape public transportation systems in the COVID era
COVID-19 pandemic to accelerate smart city initiatives
Recent Market Activity
Transport systems and analysis: a prelude
Key Components of Transportation Systems
Adoption of smart vehicles and advanced technologies to drive growth
Geographic market analysis
2. FOCUS ON SELECT PLAYERS (Total 192 Featured)
BluJay Solutions Ltd.
Cellint Ltd Traffic Solutions
Honeywell International Inc.
International Trading Machines Corporation
Image Detection Systems, Inc.
Leddar Tech Inc.
Ryder System, Inc.
3. MARKET TRENDS AND DRIVERS
Increased traffic congestion leads to increased adoption of traffic management solutions
Average annual economic losses (in billions of dollars) caused by traffic congestion in US cities.
The growing number of traffic accidents and the need to ensure road safety for travelers drives the business case for transport systems
Global breakdown of road traffic fatalities by high-, middle-, and low-income countries
The continuous increase in vehicular traffic and the need to regulate the flow of traffic drive the ITS market
Advanced communication networks are essential to adapt to new travel patterns
Predictive analytics steps to improve the transportation ecosystem
Emerging transportation technologies with the potential to transform the entire mobility and delivery ecosystem
Connected cars unfold new avenues of growth
Growing number of megacities: a key factor
Proliferation of smart cities to drive demand
Smart parking and traffic management: the future of urban mobility in countries around the world
Government investment in smart transport accelerates growth
Bus Rapid Transit Systems for Smart Mobility in urban areas
Rapid urbanization creates opportunities
Infrastructure investment patterns strongly influence the market
Big Data Analytics utility for the transportation industry
Leveraging data and analytics for smart transportation solutions
Data analysis tools help improve the planning and management of transport systems in large cities
Huge opportunity for T&L companies to harness data analytics for business growth
Innovations and technological advances
Tolling as a means to reduce road congestion and vehicle pollution drives demand for ETC systems
Importance of Transportation Systems in the Railway Sector
Data Science and Analytics in the Airways Industry
4. WORLD MARKET OUTLOOK
third ANALYSIS OF THE REGIONAL MARKET
For more information on this report, visit https://www.researchandmarkets.com/r/yb6iqs
Research and Markets
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SOURCE Research and Markets