Global Intelligent Roadways Transportation Management Systems Market Report 2023: Ability of Intelligent Roadways Transportation Management Systems to Reduce Fuel Consumption Drives Growth

DUBLIN, April 4, 2023 /PRNewswire/ -- The "Global Intelligent Roadways Transportation Management Systems Market 2023-2030" report has been added to  ResearchAndMarkets.com's offering.

This report 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.

Companies Mentioned 

• Denso Corporation
• Tata Consultancy Services (Tcs) Ltd
• Sap Se
• Oracle Corporation
• IBM Corporation
• Manhattan Associates Inc
• Blue Yonder
• 3T Logistics and Technology Group
• Mercurygate International Inc
• Kuebix LLC

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.

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 

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.

Key Topics Covered:

1. Global Intelligent Roadways Transportation Management Systems Market - Summary

2. Industry Outlook
2.1. Parent Market Analysis
2.2. Porter's Five Forces Analysis
2.3. Market Maturity Analysis
2.4. Industry Components
2.5. Regulatory Framework
2.6. Key Buying Impact Analysis
2.7. Key Market Strategies
2.8. Market Drivers
2.8.1. Growth in the E-Commerce Industry
2.8.2. Need for Optimization of Several Key Functions in Transportation
2.8.3. Introduction of New Technologies in Traffic Management
2.8.4. Effective Solution for Challenges Associated With Urbanization and Population Growth
2.8.5. Ability of Intelligent Roadways Transportation Management Systems to Reduce Fuel Consumption
2.9. Market Challenge
2.9.1. High Deployment Costs and Trade-Offs Associated With Intelligent Transportation Management Systems
2.10. Market Opportunities
2.10.1. Development of Connected Cars Around the World
2.10.2. Increase in Smart Cities
2.10.3. Increasing Adoption of Advanced Parking Management Systems
2.10.4. Use of Internet of Things (Iot) in Intelligent Roadways Transport Management Systems
2.10.5. Development of Green Fuel-Based Vehicles
2.11. Analyst Perspective

3. Global Intelligent Roadways Transportation Management Systems Market - by Component
3.1. Software
3.1.1. Video Recording Software
3.1.2. Smart Traffic Management Analysis Software
3.1.3. Database Management System Software
3.1.4. Pollution Analysis Software
3.1.5. Other Software Components
3.2. Service
3.2.1. Cloud Management Services
3.2.2. Support and Maintenance Services
3.3. Hardware
3.3.1. Information and Rule Display Systems
3.3.2. Security and Surveillance Cameras
3.3.3. Ont/Olt Devices
3.3.4. Line Wires
3.3.5. Automated Pos Systems
3.3.6. Sensors
3.3.7. Other Hardware Components

4. Global Intelligent Roadways Transportation Management Systems Market - by Application
4.1. Automated Traffic Control
4.2. Fleet Management
4.3. Passenger Information Management
4.4. Automated Ticketing
4.5. Automated Parking Assistance
4.6. Other Applications

5. Global Intelligent Roadways Transportation Management Systems Market - Regional Outlook

6. Competitive Landscape

7. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/bdgiyc

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SOURCE Research and Markets