Tag: Descriptive

Transportation Analytics Market Size Worth 21.8 Billion By 2027

The global transportation analytics market size is expected to reach USD 21.8billion by 2027, registering at a CAGR of 15.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Increasing expenditure of governments in transportation sector across the world and the growth of smart cities vis-à-vis urbanization are the major driving forces fostering the market growth. Moreover, consumerization of big data, advancements in analytics technology owing to artificial intelligence and machine learning will aid the utility of analytics in the transportation industry. Besides, acquisition of analytics startups, mergers and collaboration, and research and development investment in technology enhancement of analytics by major industry players will boost the market growth.

As per the published report by Transport Research Centre of Czech Republic, in 2018 there are around 500 million surveillance cameras across the world, generating 15 billion gigabytes of data per week. This number will double every two years, which will be stored and analyzed for improving and streamlining the public transport situation. The potential of data collection and its analysis will also be harnessed through growing application of intelligent transport systems across the world. Moreover, the data collected from the sensing platforms such as intra vehicular and urban sensing platform will help in achieving the primary aim of Intelligent Transport Systems (ITS) such as access and mobility, economic development, and environmental sustainability. All the precedent factors will help boost the market growth over the forecast period.

As per automobile industry estimates, in 2015 there were around 1.3 billion vehicles plying on the road worldwide and with growing economy in developing regions, the number is expected to rise over 2 billion by 2040. The development of new roads and bypasses will not suffice the ever increasing traffic level loads in urban areas across the globe. However, with the combination of new transport analytics solutions and communications technology with the aid of Artificial Intelligence (AI), large amount of traffic data can be analyzed in real time to cope the growing number of vehicles. Such developments across the transportation and communication sector will propel growth of the market for transportation analytics solutions over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/transportation-analytics-market

Further key findings from the study suggest:

  • The prescriptive type of transportation analytics is likely to grow at rapid rate over the forecast period. Emergence of advanced technologies such as AI and ML, and advent of IoT is likely to boost the segment growth. Among major vendors, Oracle’s Analytics cloud platform offers predictive analytics software within the platform, which helps developers to mine various data types, destroy the movement of data, and deliver actionable insights
  • The cloud deployment was the most preferred way for deployment of the analytics in 2019 and is anticipated to grow rapidly over the next eight years. Growth in cloud computing technology and its services such as SaaS, PaaS, and IaaS will foster the segment growth
  • The planning and maintenance management application is anticipated to be the fastest growing segment over the forecast period. Reduction in downtime, monitoring assets for anomalies, cost effective servicing and repairs, trends and forecasting events through analytics are some of the major factors that are likely to drive the segment growth
  • Asia Pacific is expected to expand at the highest CAGR from 2019 to 2025 owing to smart transportation and traffic management initiativesundertaken by countries such asJapan, China, South Korea, Australia, and Taiwan. For instance, China’s 5 year plan for modern comprehensive transportation system will include SMART urban transportation management, integrated mobile payment solutions, mobile apps, shared mobility, and the use of big data in transport
  • Key market players include Cellint Corporation; Alteryx Inc.; Oracle Corporation; Inrix Corporation; IBM Corporation; SmartDrive Systems Inc.; Cubic Corporation; Sisense Inc.; Hitachi Ltd.; and Omnitracs LLC

Transportation Analytics Market Size Worth 21.8 Billion By 2027

The global transportation analytics market size is expected to reach USD 21.8billion by 2027, registering at a CAGR of 15.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Increasing expenditure of governments in transportation sector across the world and the growth of smart cities vis-à-vis urbanization are the major driving forces fostering the market growth. Moreover, consumerization of big data, advancements in analytics technology owing to artificial intelligence and machine learning will aid the utility of analytics in the transportation industry. Besides, acquisition of analytics startups, mergers and collaboration, and research and development investment in technology enhancement of analytics by major industry players will boost the market growth.

As per the published report by Transport Research Centre of Czech Republic, in 2018 there are around 500 million surveillance cameras across the world, generating 15 billion gigabytes of data per week. This number will double every two years, which will be stored and analyzed for improving and streamlining the public transport situation. The potential of data collection and its analysis will also be harnessed through growing application of intelligent transport systems across the world. Moreover, the data collected from the sensing platforms such as intra vehicular and urban sensing platform will help in achieving the primary aim of Intelligent Transport Systems (ITS) such as access and mobility, economic development, and environmental sustainability. All the precedent factors will help boost the market growth over the forecast period.

As per automobile industry estimates, in 2015 there were around 1.3 billion vehicles plying on the road worldwide and with growing economy in developing regions, the number is expected to rise over 2 billion by 2040. The development of new roads and bypasses will not suffice the ever increasing traffic level loads in urban areas across the globe. However, with the combination of new transport analytics solutions and communications technology with the aid of Artificial Intelligence (AI), large amount of traffic data can be analyzed in real time to cope the growing number of vehicles. Such developments across the transportation and communication sector will propel growth of the market for transportation analytics solutions over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/transportation-analytics-market

Further key findings from the study suggest:

  • The prescriptive type of transportation analytics is likely to grow at rapid rate over the forecast period. Emergence of advanced technologies such as AI and ML, and advent of IoT is likely to boost the segment growth. Among major vendors, Oracle’s Analytics cloud platform offers predictive analytics software within the platform, which helps developers to mine various data types, destroy the movement of data, and deliver actionable insights
  • The cloud deployment was the most preferred way for deployment of the analytics in 2019 and is anticipated to grow rapidly over the next eight years. Growth in cloud computing technology and its services such as SaaS, PaaS, and IaaS will foster the segment growth
  • The planning and maintenance management application is anticipated to be the fastest growing segment over the forecast period. Reduction in downtime, monitoring assets for anomalies, cost effective servicing and repairs, trends and forecasting events through analytics are some of the major factors that are likely to drive the segment growth
  • Asia Pacific is expected to expand at the highest CAGR from 2019 to 2025 owing to smart transportation and traffic management initiativesundertaken by countries such asJapan, China, South Korea, Australia, and Taiwan. For instance, China’s 5 year plan for modern comprehensive transportation system will include SMART urban transportation management, integrated mobile payment solutions, mobile apps, shared mobility, and the use of big data in transport
  • Key market players include Cellint Corporation; Alteryx Inc.; Oracle Corporation; Inrix Corporation; IBM Corporation; SmartDrive Systems Inc.; Cubic Corporation; Sisense Inc.; Hitachi Ltd.; and Omnitracs LLC

Life Science Analytics Market Worth $13.2 Billion By 2027

The global life science analytics market size is expected to reach USD 13.2 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.9% from 2020 to 2027. Rising applications of advanced analytics in life science applications and increasing demand from pharmaceutical and medical device industry are the major parameters driving the market. Analytics are used widely used in the life science analytics industry to assess risk, assessment of the effectiveness of clinical trials, provide personalized medicine, develop faster and more productive research and development pipeline, forecasting profits, budgeting, controlling product price, and predict virus evolution.

Rising adoption of big data and artificial intelligence in the healthcare sector is estimated to drive the market during the forecast period. A survey conducted by Applied Clinical Trials in 2016 depicted that 58.0% of the clinical trials industry professionals considers big data in clinical trials as extremely important while 32.0% considered it moderately important. Furthermore, the growing impact of social media on healthcare sector is fueling the growth of the market. As of 2016, the CDC has 18 Facebook profiles with a reach of 370,000 populations; YouTube channel with over 8.8 million public views; 13 blogs; LinkedIn accounts; mobile apps, and many other reaches through social networking. The concept of social media is enabling the organizations to facilitate the integration of multiple information in a platform, rationalize the cost, and better targeting of providers and consumers (or patients).

mHealth, Electronic Health Records (EHR), eHealth, and mobile applications along with artificial and human intelligence data analytics are offering opportunities for customization of medical approaches, which in turn is increasing demand for data analytic tools in the life science industry over the forecast period. According to Personalized Medicine Coalition, the number of drugs manufactured by personal medicine approaches has grown by 62%, since 2012.Moreover, strategies adopted by key players such as partnerships, product launches, collaborations, mergers & acquisitions, and government initiatives is further boosting the market. For instance, in April 2016, IBM acquired Truven Health Analytics, a leading provider of cloud-based healthcare data and analytics, to strengthen its Watson Health portfolio. This was expected to give the company access to over 8,500 clients of Truven Health Analytics.

The report “Life Science Analytics Market Size, Share & Trends Analysis Report By Component, By Type (Reporting, Descriptive, Predictive, Prescriptive), By Application, By Delivery, By End User, By region, And Segment Forecasts, 2020 – 2027” is available now to Grand View Research customers and can also be purchased directly fromhttp://www.grandviewresearch.com/industry-analysis/life-science-analytics-market

Click the link below:
https://www.grandviewresearch.com/industry-analysis/life-science-analytics-market

Further key findings from the report suggest:

  • Descriptive analytics type emerged as leading ingredient typesegment in 2019 with a revenue share of 36.0% in the market
  • Based on components, the services segment accounted for the largest revenue share in 2019, and is also projected to expand at fastest CAGR during the forecast period
  • Amongst application segment, sales and marketing support accounted for the largest revenue share in 2019, whereas research and development is projected to expand at fastest CAGR during the forecast period
  • Amongst delivery segment,on-premises accounted for the largest revenue share in 2019, whereas on-demand is projected to expand at fastest CAGR during the forecast period
  • Based on end-user, the pharmaceuticals segment accounted for the largest revenue share in 2019, whereas biotechnology is projected to expand at fastest CAGR during the forecast period
  • North America accounted for the largest revenue share due to increasing government support and growing demand for analytics from life science companies