Global Intelligent Roadways Transportation Management Systems Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s analysis shows that the global intelligent roadways transportation management systems market would register growth at a CAGR of 10.32% in the projected period from 2023 to 2030.
Factors such as the growing need to optimize several key functions in transportation and the introduction of novel technologies in traffic management are major drivers of the studied market. In addition, intelligent roadways transport management systems (IRTMS) have emerged as an effective means of dealing with the growing challenges due to urbanization and population growth.
Along with this, the growth in the e-commerce industry and the ability of intelligent roadways transportation management systems to reduce fuel consumption also contribute to the market growth. On the flip side, the high deployment costs for various types of intelligent transportation management systems pose a major challenge in the path of market development.
REGIONAL OUTLOOK
The global market for intelligent roadways transportation management systems spans across the Asia-Pacific, Latin America, North America, Europe, and the Middle East and Africa.
The market in the Asia-Pacific is expected to observe the fastest growth globally, over the forecast period. Rising investments and the upgradation of traditional freight infrastructure fares are anticipated to boost the deployment of IRTMS across the region. On the other hand, North America leads the global market, accounting for the largest share. The IRTMS sector is one of the major sectors in the region’s business landscape, owing to the presence of a large number of companies operating in this field.
COMPETITIVE OUTLOOK
The key players profiled in the report on the intelligent roadways transportation management systems market include 3T Logistics and Technology Group, Blue Yonder, Oracle Corporation, Manhattan Associates Inc, Denso Corporation, Kuebix LLC, Tata Consultancy Services (TCS) Ltd, SAP SE, IBM Corporation, and MercuryGate International Inc.
IBM Corporation is a multinational company offering integrated products, solutions, and services to its clients. The company generates revenue through its technology services & cloud platforms, cognitive solutions, global business services, global financing, and systems segments.
IBM’s portfolio includes solutions for such as analytics, cloud, IT infrastructure, financing, mobile, security, service, Watson, IoT, and customer engagement. Sterling TMS gives the tools needed to automate the planning & execution of customers’ inbound & outbound transportation processes. The company performs its business functions in more than 170 countries worldwide. The company was established in 1911.
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