(PRWEB) August 20, 2014
The world has been witnessing enormous growth in population in the last century. Rise in population has been affecting various aspects of the global economic, climatic, cultural environment. Among these, traffic related issues continue to remain at a high priority. In addition, the new government initiatives and technological innovations are causing the transportation system and analytics market to boom worldwide. This trend seems to continue in the coming years. On a global scale, the transportation system and analytics market was valued at $28.09 billion, in 2013.
This market is estimated to increase to $57.46 billion by the end of the year 2018. The annual rate of growth is projected to be 15.4%. Industry-wide leaders in this segment are IBM, Oracle and Raytheon.
Transportation system and analytics discusses about how the analytic solution, advanced transportation control system, and management solutions capabilities aid in taking real-time decisions. These solutions and applications provide businesses with various benefits, which include faster and smarter business decisions with advanced analytics, and improved customer satisfaction with on-time delivery performance.
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Looking at the vast networks of the transportation systems, smart initiatives have been taken which brings together the physical and digital infrastructure providing intelligent networks. The solutions and applications are needed to address the challenges arising from the intelligent networks such as improving operational efficiency, along with reducing environmental impacts, and assuring safety & security.
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Latin America is one of the emerging regions in the transportation systems and analytics market. The countries in this region have achieved a modest, yet significant, revolution in urban design through the adoption and refinement of bus rapid transit (BRT) systems. The investments of billions of dollars in urban buses, rural roads, highways, airports, railways, and shipping ports is expected to give tremendous opportunities for the active players in the transportation and logistics sector.
Browse through the market data tables, figures and detailed ToC on the “Latin America - Brazil Transportation Systems Market”.
Asia Pacific and Japan (APAC) Transportation Systems Market
In 2013, the total revenue of the APAC region’s transportation system and analytics market was $7.30 billion and it has been projected to be worth $16.17 billion by the end of year 2018. This market is estimated to grow annually at a rate of 17.2%.This growth rate is achieved through high demand of automated and efficient transportation systems. This demand would continue to rise with increase in trade and globalization in Asian countries. Some of the prominent companies in this market are Oracle, IBM and KVH Industries.
Middle East and Africa - UAE Transportation Systems Market
MEA region’s transportation system and analytics market was valued at $3.51 billion in the year 2013. This market is estimated to reach $8.72 billion by the end of the year 2018. The anticipated per annum rate of growth is 19.9%.Governments in the MEA nations have been taking extensive efforts and initiatives for the purpose of improving transportation. Hence, huge government investments continue their entry in this sector. Siemens Traffic Solutions, Xerox Corporation, IBM, Raytheon, Oracle are few of the key players that provide solutions in this market.
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