Transportation Analytics Market Set to Soar Past USD 68.4 Billion by 2030
The global Transportation Analytics market size is expected to reach USD 68.4 billion by 2030 and exhibit a CAGR of 17.6% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing demand for real-time insights and data-driven decision-making, advancements in technologies such as IoT, big data, and AI, increasing adoption of smart transportation systems, government initiatives promoting the smart city and sustainable transportation, growing popularity of ride-sharing and on-demand transportation services, are fueling the Market’s growth.
Westford,USA, Aug. 25, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Transportation Analytics market, increasing adoption of artificial intelligence and machine learning in transportation analytics, growing use of real-time and predictive analytics for dynamic route optimization, integration of transportation analytics with smart city initiatives, rising demand for multimodal transportation analytics solutions, the emergence of connected vehicles and IoT-enabled transportation analytics, focus on sustainability and environmental impact analysis in transportation analytics, increasing use of geospatial analytics for location-based insights, integration of transportation analytics with fleet management systems, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Transportation Analytics Market”
- Pages – 265
- Tables – 64
- Figures – 75
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Prominent Players in Transportation Analytics Market
- Amazon Fresh
- Walmart Grocery
- Thrive Market
- Trader Joe’s
- Fairway Market
- Whole Foods Market
- Amazon Prime Now
Predictive Analysis Demand to Grow Substantially in the Forecast Period
Predictive analysis dominated the global market owing to its ability to give real time data for future predictions. It also enables transportation companies to make informed decisions based on accurate forecasts. It helps in optimizing routes, predicting demand, managing inventory, and mitigating risks. By leveraging predictive analytics, companies can improve operational efficiency, reduce costs, and enhance overall performance.
Supply Chain and Logistics is the Leading Application Segment
In terms of application, the supply chain and logistics is the leading segment due to the cost optimization. In addition, effective inventory management is essential for supply chain optimization. Transportation analytics provides insights into demand patterns, lead times, and delivery performance, helping companies optimize inventory levels and avoid stockouts or excess inventory. This improves inventory turnover, reduces carrying costs, and enhances overall supply chain efficiency.
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North America is the leading Market Due to the Robust Transportation Infrastructure
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements in transportation. The region is mature and highly competitive. Companies in sectors such as logistics, shipping, and supply chain management recognize the importance of analytics in improving their operations and gaining a competitive edge. They are early adopters of transportation analytics solutions to optimize routes, manage fleets, improve supply chain visibility, and enhance customer service.
A recent report thoroughly analyzes the major players operating within the Transportation Analytics market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Transportation Analytics.
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Key Developments in Transportation Analytics Market
- Geotab, a connected transportation solutions provider, launched a new transportation analytics platform within its Intelligent Transportation Systems (ITS) line of business.
Key Questions Answered in Transportation Analytics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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