DUBLIN, June 2, 2023 /PRNewswire/ — The “Global Intelligent Railways Transportation Management Systems Market 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
This analysis puts forth that the global intelligent railways transportation management systems market would record growth at a CAGR of 10.95% in the forecast period from 2023 to 2030.
Factors such as the introduction of new technologies for railway traffic management and the ability of IRTMS to reduce fuel consumption largely contribute to the growth of the studied market. Moreover, the demand for optimizing several key functions in transportation has also influenced the demand for intelligent railways transportation management systems.
Along with this, the growth in the e-commerce industry and the expanding population as a result of hyper-urbanization also contribute to the market growth. On the flip side, the high costs for deploying varied intelligent railways TMS pose a major challenge in the path of market development.
Market Dynamics
Drivers
- Introduction of New Technologies in Railway Traffic Management
- Ability of Irtms to Reduce Fuel Consumption
- Evolution of the E-Commerce Industry
- Growing Needs of a Rising Population Resulting from Hyper-Urbanization
- Need to Optimize Many Key Functions in Transportation
Challenges
- Distinct Irtms Solutions Have Huge Deployment Costs
Opportunities
- Increase in Smart Cities
- Promotion of Green Fuels
- Use of IoT in Intelligent Railways Transportation Management Systems
Regional Outlook
The global market for intelligent railways transportation management systems spans across North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa.
Europe leads the global market, and held the largest share in 2022. Favorable government initiatives for developing the infrastructure for intelligent mobility solutions and the incorporation of advanced information & communication technologies largely contribute to the market’s growth in the region.
On the other hand, the market in the Asia-Pacific is anticipated to witness the fastest growth in the global market over the forecast period. By 2040, the region is expected to secure $4 trillion worth of investment in infrastructure development. This, in turn, will increase the adoption of IRTMS solutions in the Asia-Pacific market.
Competitive Outlook
The key players profiled in the report on the intelligent railways transportation management systems market include Denso Corporation, Blue Yonder, 3GTMS Inc, SAP SE, Thales Group, Siemens AG, Tata Consultancy Services (TCS), Oracle Corporation, IBM Corporation, and Kuebix LLC.
IBM Corporation is a US-based multinational company offering integrated products and solutions to its clients. It generates revenue via its technological services & cloud platform, cognitive solutions, business services, and financing segments. The services and solutions offered by the company are used to serve the travel & transportation sector, among several others.
IBM Watson Studio, one of its key offerings, empowers developers, analysts, and data scientists to build, operate, and manage AI models, and also optimize decisions anywhere for IBM Cloud Pak for Data. It is used by rail network operators for automating routes, managing time, preventing collisions, etc.
A strong emphasis on product development and R&D boosts the company’s brand image. Established in 1911, IBM Corporation performs its business in over 170 countries across the world, supported by a strong workforce of 352600 employees.
For more information about this report visit https://www.researchandmarkets.com/r/8bw60k
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SOURCE Research and Markets
