MarketsandMarkets recently conducted a study on the “Transportation Systems and Analytics Market [ by Transportation Management, Transportation Control Systems, by Analytics (Traffic, Video, GIS, Predictive, Fleet), Ticketing Management, Remote Sensing, Electronic Access, Display] - Worldwide Market Forecasts and Analysis 2013 - 2018 ,” which analyzed and studied the major market drivers, restraints, and opportunities in North America (NA), Europe (EU), Middle East and Africa (MEA), Asia Pacific including Japan (APAC), and Latin America (LA).
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"Transportation Systems and Analytics Market"
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The study reports that the global transportation analytics and system market is expected to grow from $28.09 billion in 2013 to $57.46 billion by 2018, at an estimated Compound Annual Growth Rate (CAGR) of 15.4% from 2013 to 2018.
The recent trend in the industry shows that there is a high demand for an improved access to resources, customer bases, markets, and customers. There have been innovations in analytic solutions, advanced transportation control system, and management solutions and applications across the verticals of the transportation analytics and system market. Changing travel demand, hyper-urbanization, and globalization are the important drivers for this market. Intelligent infrastructure has given rise to the smart vehicles; and smart vehicles on smart roads represents better infrastructure, better communication facility, less congestion, and better safety. The opportunity involved is the need for smart vehicles which has given rise to the intelligent infrastructure and intelligent vehicles.
Verticals such as roadways, intermodals, airways, railways, and seaways are extensively using applications such as remote sensing. Big players and start-up companies are shifting toward smarter technology and its solutions to meet the requirements of today’s business and customer needs. The introduction of disruptive technologies in solutions such as analytics, advanced traveler information system, advanced vehicle control system, and the type of analytics used is giving boost to the adoption of transportation system solutions, applications, and products across various verticals.
The report also draws the competitive landscape of the transportation system and analytics market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most companies in the global transportation analytics and system market are new intelligence technology, shift toward analytical solutions, and acquiring relatively small domain expert players. Some of the major players in this market are IBM, Siemens, Oracle, Honeywell, INRIX, Image Sensing Systems, and Xerox.
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