Asia-pacific Intelligent Roadways Transport Management Systems Market Forecast 2023-2032KEY FINDINGS
The Asia-Pacific intelligent roadways transport management systems market is estimated to project an 11.30% CAGR during the forecast years between 2023 and 2032. Investments in traditional freight infrastructure, the growth in international trade, and the adoption of smartphones propel market growth.
MARKET INSIGHTS
The Asia-Pacific intelligent roadways transport management systems market growth analysis includes the evaluation of Vietnam, South Korea, Thailand, China, Japan, Indonesia, Australia & New Zealand, India, and Rest of Asia-Pacific. Road transport dominates in India, with thriving freight and passenger transport sectors. In addition, with the increasing number of freight movements, passengers, and vehicles, road transport is expected to play a central role in India’s transport sector.
In contrast, buses are one of the most popular means of transportation in South Korea. There are also types of buses, including express, city, and intercity buses. In the case of bus fares, the amount varies depending on the bus type, payment method, and age. Besides, the freeway network serves all parts of South Korea, driving the demand for intelligent roadways transport management systems in the country.
On the other hand, according to the World Health Organization’s Global Status Report on Road Safety 2018, Thailand is estimated to have a traffic fatality rate of 32.7 persons per 100,000 in the year 2016. Further, Thailand’s death rate for passengers and operators of motorbikes was the world’s highest in 2016, at 74.4 fatalities per 100,000. Therefore, proper intelligent roadways transport management systems are the immediate requirement for the country.
COMPETITIVE INSIGHTS
Key market players include Tata Consultancy Services Limited and DENSO Corporation.
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