With rapid technological advancements, there is need for efficient transportation. Inefficient transportation difficulties are expensive as well as time consuming. Rising population and the migration of people from rural areas to the metros is responsible for traffic congestion. Traffic congestion enhances fuel consumption, travelling time, and air pollution and reduces the effectiveness of transportation infrastructure. To overcome these issues, countries such as the U.S., Germany, U.K., and Japan are deploying transportation analytics solutions. Transportation analytics integrated with advanced transportation control systems along with system integrators are helping to avoid problems associated with transportation systems.
Introduction to Transportation Analytics
Transportation analytics helps in extracting all the data related to transportation and provides actionable insights. It involves high performance reporting and analysis tools to measure the performance of transport logistics. Transportation data from a variety of different sources automatically flows into an analysis system to a secure way. It is then associated together and processed to generate detailed figures and reports. The applications derived from the transportation analytics are profiting the users greatly and additional innovations are expected in the coming years.
There are various transportation management solution which includes ticketing management, parking management, fleet management and others. These solutions help firms in effectively managing the transportation and logistics segment.
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Technologies Used in Transportation Analytics
Transportation analytics involves technologies such as cameras, sensors, and geo-tracking with analytics and helps to determine availability of particular parking slots, in turn reducing congestion.
Emergence of smart vehicles on developed roads contributes toward better safety, communication facilities, and advanced infrastructure. This automates the overall management of control systems. There is rapid increase in awareness among passengers/travelers to effectively manage, monitor, and modernize their travel.
However, there is lack of awareness about the functioning of transportation analytics solutions which is expected to hamper the market growth. Furthermore, growth in infrastructure is rather slow and cost of transportation analytics solutions is high. These factors are anticipated to restrain the market growth during the forecast period.
Transportation Analytics Market Segmentation
The transportation analytics market can be segmented on the basis of solution, application type, industry vertical, and geography.
The market on the basis of solution includes analytics solutions, advanced transportation control systems, management solutions and services. The market on the basis of application solution includes remote sensing, transit management, incident management and others. On the basis of industry vertical it can be segmented into roadways, railways, airways, and seaways. The geographical segmentation for speech analytics market includes North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.
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Key players of the transportation analytics market are Cellint, Cubic Corporation, Deltion, Ltd., Garmin, Ltd., IBM Corporation, Inrix, Inc. TomTom LV, Oracle, Ryder Systems, Inc., Trimble Navigation, Ltd., Kewill, Ltd., Qualcomm Inc., Traffic Master, Kapsch Ag, Thales, and Decawave Ltd.