When you hear the term “transportation industry” you may think of the trucking industry, but it's much more than that. Every time you order an Uber ride or mail a package, you’re using a service from the transportation industry.
This sector includes all businesses and companies that are involved with the movement of people or goods whether it’s by land, sea, or air transport. There are many types of companies in the transportation sector. For example, airlines, air freight firms, trucking and railway companies, postal and shipping services, and maritime transportation companies. All of these types of businesses contribute to the economy's worldwide growth and productivity.
Real-time data analytics have had a profound positive impact on the transportation sector and will continue to. Establishments in this industry can utilize real-time analytics to their own advantage.
For instance, supply chains can make smarter management decisions when they have vital data and information at their fingertips. Real-time data visibility allow companies to spot and predict occurrences, see the current statuses of shipments and exact locations of fleet vehicles, and tons of other beneficial insights.
Roadway and railway services use data analytics to keep track of any potential crashes, delays, or traffic. Airway companies rely on predictive model analytics to devise better flight routes. And waterway businesses use real-time data to monitor vessels, equipment, traffic congestion, and weather conditions.
The transportation industry is thriving globally with the help of emerging technologies and reliable data, and its market size is expected to reach $27.4 billion by the end of 2024, according to Markets and Markets. Having live data is essential for all the different companies involved in the transportation sector.
There are millions of transportation companies scattered all over the world, and you are probably familiar with a few of them. Below is a current list of the world’s top 10 transportation providers prepared by CompaniesMarketCap.com:
Now take a look at the top 10 largest transportation companies in the United States by market cap and you’ll recognize a handful from the previous list.
There’s no doubt that the global movement of goods and people is imperative to society's development. This entire sector generates employment opportunities, access to healthcare, revenues, and economic growth. The world’s economy would be in a very different situation right now if it weren’t for the transportation sector.
Real-time data is a game changer and a must have for this industry. And it is extremely important to select a reputable data provider, especially since it can determine your company’s overall success and future. That’s where Intrinio steps in.
Intrinio is recognized for providing high-quality data, immediate customer service, and modern tools for a variety of transportation businesses. If you are looking for clean, dependable transportation industry data, request a consultation today. To learn more about our real-time data packages please visit intrinio.com.