Increasing volume of data generated across various transportation authorities and agencies, is the key factor driving the demand for global transportation predictive analytics and simulation market. Predictive analytics coupled with simulation techniques delivers an effective solution for design and operation of modern transportation systems.
Simulation techniques enable the transportation operators to track the movements of individual vehicles and to capture the general relationships between flow, density, and speed of the traffic.
Predictive analytics enables efficient transportation operations by transforming the captured data into meaning insights for future decision making. Predictive Analytics and Simulation techniques delivers various results to the transportation sector such as traffic optimization, predictive maintenance, network & capacity optimization, customer behaviour, revenue optimization and so on.
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Increasing population, rising operational challenges, and growing focus on developing advanced transportation infrastructure are the key factors driving the growth of global transportation predictive analytics and simulation market.
Additionally, rising transport infrastructure investment, growing trend towards intelligent transportation systems (ITS), and increased preference for data driven business operations, is expected to accelerate the growth of transportation predictive analytics and simulation market globally. With the increasing interest on implementing internet of things (IoT) technology in transportation operations and global adoption to cloud based business solutions, the global market for transportation predictive analytics and simulation market is expected to witness a healthy growth rate during the forecast period.
However, high initial cost and technical challenges related to integrating transportation predictive analytics and simulation software with the current systems, are the factors likely to deter the progression of market.
Global transportation predictive analytics and simulation market can be segmented on the basis of component, simulation method, type of transport and end user.
On the basis of component, the market can be segmented into software and hardware.
On the basis of simulation method, the market can be segmented into microscopic, macroscopic, and mesoscopic.
On the basis of type of transport, the market can be segmented into roadways, railways, airways, and seaways.
On the basis of end user, the market can be segmented into public and private.
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Regionally, global transportation predictive analytics and simulation market is segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
Currently, North America dominate the global market for transportation predictive analytics and simulation, mainly due to advanced infrastructure and continuous optimization of transportation operations. Asia Pacific is identified as the fastest growing marked due to rapid urbanization and increasing investment on transportation infrastructure.
The key players active in the global transportation predictive analytics and simulation market, include Cubic Corporation, IBM Corporation, Xerox Corporation, SAP, Space-Time Insight, Predikto Inc., Cyient-Insights, TSS-Transport Simulation Systems, Caliper Corporation, Tiger Analytics, and T-Systems.