Asia-pacific Intelligent Roadways Transportation Management Systems Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report puts forth that the intelligent roadways transport management systems market in the Asia-Pacific would progress with a CAGR of 11.02% in the forecast years between 2023 and 2030.
India, Australia & New Zealand, Japan, ASEAN countries, South Korea, China, and Rest of Asia-Pacific are assessed in the market in this region.
The deployment of the Seoul Transport Operation and Information System (TOPIS) has enabled the much-praised smart public transportation system in the city to provide remarkable convenience and expediency to its users. TOPIS gathers an extensive range of data from varied sources, including the PTP system, Bus Management Service, transportation broadcasting system, KoRoad, unmanned fare collection system, and the police, in order to oversee and manage the transportation network in Seoul.
The TOPIS website provides information about road congestion, the current traffic status, locations of nearby parking lots, and other on-road events & emergencies. Thus, deploying intelligent roadways transport management systems (IRTMS) has been beneficial for the growth of the South Korean market.
Thailand has 390,000 km of highways. As per estimates, it has 462,133 roads and several multi-lane highways. By mid-2019, the number of registered vehicles in the country rose to 40,190,328. There is a need for connecting remote areas to the transportation network in Thailand. Therefore, IRTMS deployment has proven extremely useful, and is expected to bolster the growth of the studied market. Thailand is studied under ASEAN countries in Triton Market Research’s report.
COMPETITIVE OUTLOOK
The eminent players in the intelligent roadways transport management systems market are Kuebix LLC, Manhattan Associates Inc, MercuryGate International Inc, Oracle Corporation, and SAP SE.
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