Latin America Intelligent Railways Transportation Management Systems Market 2023-2030
MARKET OUTLOOK
The Latin America intelligent railways transport management systems market is poised to grow with a CAGR of 8.39% in the forecast years between 2023 and 2030, as per a Triton Market Research report.
Brazil, Mexico, and Rest of Latin America are included in the market in this region.
The government of Brazil is undertaking several initiatives to bolster the country’s infrastructure, by initiating smart city initiatives and encouraging several industries to incorporate advanced technologies, such as Industry 4.0 and the Internet of Things (IoT).
For instance, Nokia partnered with Brazil’s National Service for Industrial Training, SENAI-SP, to implement technologically advanced connectivity solutions at the latter’s lab in São Caetano do Sul, a facility that features an Industry 4.0 factory and is known for mechatronics training.
Chile, Argentina, and Colombia are studied in the report under the Rest of Latin America region. Roadways are the main mode of transportation in Chile. The railways are a historically important aspect of the country, but now play a relatively small part in its transport system.
However, because of Chile’s geography and long distances between major cities, the use of railways for freight transportation is important. Also, the far south of the nation is not directly connected to central Chile by road.
These factors present growth opportunities for the use of intelligent railways transport management systems, and are expected to contribute to the market’s growth in the years to come.
COMPETITIVE OUTLOOK
Blue Yonder, Tata Consultancy Services (TCS), Denso Corporation, SAP SE, Oracle Corporation, Siemens AG, and Thales Group are some of the distinguished players operating in the intelligent railways transport management systems market.
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