PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238822
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238822
Transportation predictive analytics and simulation Market size was valued at USD 2,305.1 Million in 2022, expanding at a CAGR of 10.2% from 2023 to 2030.
Transportation predictive analytics and simulation are used to obtain crucial information from existing data sets, to ensure certain patterns, and forecast future outcomes and trends. Moreover, it does not predict about future or what will happen there but with an acceptable level of accuracy, it forecast what might happen in the future. Furthermore, transportation sector has been largely using predictive analytics, which offers valuable insights from data collected from a variety of sources.
The demand for transportation predictive analytics and simulation has been increasing day by day between transit companies as it reduces risk by installing predictive analytics more frequently. Additionally, rising demand for operation activity, better pricing of data, cost-effective solutions, and integrated security & safety in the transit companies are projected to propel the market growth. However, technical challenges and a high initial price is expected to restrain the market growth of the transportation predictive analytics and simulation market during the forecast period.
Moreover, the growing inclination towards advanced analytics to forecast future outcomes and customer demand can increase the transportation predictive analytics market growth. The COVID-19 has been affecting industries and economies in various countries due to lockdowns, business shutdowns, and travel bans. Due to the shutdown of various factories and plans the global supply chain was affected negatively and impacted the manufacturing, sales of the product, and delivery schedule.
The Transportation Predictive Analytics and Simulation Market are segmented on the basis of product type, component, end-user, and by region.
The market is divided into two categories based on product type: on-premise and cloud-based. The on-premise segment is expected to hold the market share during the forecast period. It is beneficial for such companies that secure and confidentiality of their data from hackers.
The market is divided into two categories based on the component: software and services. The software segment is expected to possess the market share. Due to the augmented demand for smart transport management solutions as well as an increase in the penetration of cloud-based services expected to increase during the forecast period.
The market is divided into four categories based on end-user: roadways, railways, airways, and seaways. The airways segment is expected to hold the market share as the airline industry adopts predictive and Simulation software quickly to acquire deeper insights into customer behavior.
The increasing demand for Global Transportation Predictive Analytics And Simulation in transit companies is the key factor making it one of the competitive sectors globally. Due to the safety of data it has turned out to be a great opportunity for companies to extend their production. Additionally, market players are focusing on business expansion by using cutting-edge technologies. Moreover, companies are focusing on increasing their presence by adopting product innovation, extensive development & research, R&D activities, and mergers & acquisition.
This proposed research study on transportation predictive analytics and simulation market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for transportation predictive analytics and simulation market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the transportation predictive analytics and simulation market.
Impact of COVID-19 on transportation predictive analytics and simulation market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on transportation predictive analytics and simulation market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the transportation predictive analytics and simulation market, we have also included competitive landscape and key innovator analysis for the transportation predictive analytics and simulation market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the transportation predictive analytics and simulation market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global transportation predictive analytics and simulation market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: