Transportation Predictive Analytics And Simulation Global Market Report 2023
Major players in the transportation predictive analytics and simulation market are SAP AG, IBM Corporation, T-Systems International GmbH, Xerox Corporation, Cubic Corporation, Cyient Insights Private Limited, Tiger Analytics Inc.
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Transportation Predictive Analytics And Simulation Global Market Report 2023" - https://www.reportlinker.com/p06479921/?utm_source=GNW
, PTV Group, Predikto Inc., Space-Time Insight India Private Limited, TSS-Transport Simulation Systems Inc., Caliper Corporation, Dataiku, INRIX, and Indra Sistemas S.A.
The global transportation predictive analytics and simulation market is expected to grow from $2.31 billion in 2022 to $2.54 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transportation predictive analytics and simulation market is expected to reach $3.57 billion in 2027 at a CAGR of 8.9%.
The transportation predictive analytics and simulation market consists of revenues earned by entities by providing predictive analytics and simulation services such as predicting traffic congestion, estimating travel time, optimizing route planning, and assessing the impact of infrastructure changes.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.The transportation predictive analytics and simulation market consists of the sales of transportation management systems, predictive analytics software, simulation software, and real-time data analytics.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Transportation predictive analytics and simulation is the use of data analysis techniques and mathematical models to predict and simulate various transportation scenarios.
North America was the largest region in the transportation predictive analytics and simulation market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the transportation predictive analytics and simulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of transportation predictive analytics and simulation are software and services.Software refers to the computer programs and tools used to analyze and model transportation data, and to make predictions about future transportation trends and events.
It is used to collect and store transportation data, analyze transportation data, identify patterns and trends, create virtual models of transportation systems, and create maps.The transportation predictive analytics and simulation work on microscopic, macroscopic, and mesoscopic simulation models on on-premise and cloud-based deployment.
The end-users of transportation predictive analytics and simulation are roadways, railways, airways, seaways, and others.
The growing instances of road accidents are expected to propel the growth of the transportation predictive analytics and simulation market going forward.Road accidents refer to accidents that occur on roads, highways, and other thoroughfares.
This has resulted from an increase in the number of vehicles on the road, changes in traffic patterns or road conditions, driver error, or changes in weather patterns.Transportation predictive analytics and simulation help in reducing the number of road accidents by identifying high-risk areas, improving traffic flow, predicting and preventing accidents, and identifying and addressing driver behavior, thus increasing the adaption of transportation predictive analytics and simulation.
For instance, in May 2022, the National Highway Traffic Safety Administration, a part of the US Department of Transportation, in 2021, around 42,915 people died in motor vehicle traffic accidents, this number has rose by 10.5% as compared to 38,824 fatalities in the previous year. Therefore, the growing instances of road accidents are driving the transportation predictive analytics and simulation market.
Product innovations are the key trends gaining popularity in the transportation predictive analytics and simulation market.Companies operating in the transportation predictive analytics and simulation market are adopting new technologies to sustain their position in the market.
For instance, in April 2023, Geotab Intelligent Transportation Systems, a Canada-based telematics technology provider for GPS fleet management, launched Stop Analytics for commercial vehicle parking insights.Stop analytics is a data analytics module designed to improve the movements of goods and services, create safer truck stops and roadways, strategically identify new real estate sites, develop more efficient curbside management programs, and pinpoint where to place electric vehicle charging infrastructure.
Stop analytics helps to identify parking for heavy-duty trucks and improves driver safety.
In April 2021, Bentley Systems a US-based infrastructure engineering software company acquired INRO Software for an undisclosed amount.This acquisition broadens, diversifies, and expands Bently’s mobility digital twins capabilities by adding INRO’s advanced traffic and vehicle simulation capabilities with its civil design and pedestrian simulation software like Streetlytics, CUBE, OpenRoads, and LEGION.
INRO Software is a Canada-based multi-model transportation planning company.
The countries covered in the transportation predictive analytics and simulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The transportation predictive analytics and simulation software market research report is one of a series of new reports that provides transportation predictive analytics and simulation software market statistics, including transportation predictive analytics and simulation software industry global market size, regional shares, competitors with a transportation predictive analytics and simulation software market share, detailed transportation predictive analytics and simulation software market segments, market trends and opportunities, and any further data you may need to thrive in the transportation predictive analytics and simulation software industry. This transportation predictive analytics and simulation software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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