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Intelligent Roadways TMS Market: Application Updates 2030

The Global Intelligent Roadways Transportation Management Systems Market is likely to surge ahead with a CAGR of 10.32% over the forecast years from 2023-2030.

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Intelligent Roadways TMS Market: Application Updates 2030

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  1. Intelligent Roadways TMS Market: Application Updates 2030 • Intelligentroadwaystransportationmanagementsystemsrefertoanadvancedtechnologythatoffersinnovativesolutionspertainingtotransportmanagementandenablesend-userstomakebetter,safer,and‘smarter’ useofroadtransportnetworks.AccordingtoTritonMarketResearch,theGlobalIntelligent Roadways Transportation Management Systems MarketislikelytodevelopwithaCAGRof10.32%overtheforecastyearsfrom2023-2030.IRTMsystemsareincorporatedwithsensors,navigationsystems,vehicleprobes,videosurveillancedevices,etc.,thatofferreal-timedataforanalysis,whichisthencommunicatedtousers. • StatisticsfromtheOECDsuggestthat,by2050,globalpassengertransportandfreighttransportwillincreaseby2.3foldand2.6fold,respectively,comparedtotheirvaluesin2015.Also,roadsareamongthemostpreferredtransportmodes,accountingformostmotorizedpassengertravelanddomesticfreighttransit.IRTMShelpenhancetheoperationalefficiencyofpublictransitsystemsandalsoboostoverallpassengersafety.Moreover,theyoptimizethelogisticscapabilitiesandhelpmanagenumerousbusinessneedsofe-commerceserviceproviders.ThesefactorshavecontributedtotheincreaseddemandforintelligentroadwaysTMS. TransportationManagementSystems–AQuickRun-downontheParentMarket

  2. Transportationmanagementsystemsstreamlinetheprocessofshipping.Thismakesmanagingandoptimizingoperationseasierforbusinesses,whetherthetransitmodetheyuseissea,land,orair.TMSplayakeyroleinsupplychainmanagement,impactingeverypartoftheprocess—fromplanning&procurementtologistics&lifecyclemanagement.Rapidindustrializationandmanufacturinggrowtharekeyfactorsthathaveincreasedtheiradoptionworldwide.Transportationmanagementsystemsstreamlinetheprocessofshipping.Thismakesmanagingandoptimizingoperationseasierforbusinesses,whetherthetransitmodetheyuseissea,land,orair.TMSplayakeyroleinsupplychainmanagement,impactingeverypartoftheprocess—fromplanning&procurementtologistics&lifecyclemanagement.Rapidindustrializationandmanufacturinggrowtharekeyfactorsthathaveincreasedtheiradoptionworldwide. Theburgeoninge-commercesector,duetothegrowingtrendofonlineshopping,isfurthercontributingtotheescalatingdemandforthesesystemstofacilitateshippingoperations.Intoday’sworld,wherecountriescompeteonagloballevel,itiscrucialforthemtohavedevelopedtransport,logistics,andtrade-relatedinfrastructures.ATMSprovidesvisibilityintoeverydayoperations,tradecompliancedata &requirements,andensuresthetimelydeliveryofgoods.Theimprovingbilateraleconomicrelationsbetweenseveralcountriesworldwidearecreatinggrowthopportunitiesforoperatingplayerstoexpand theirconsumerbase. IRTMSMarket|ExpandingApplications FleetmanagementsolutionsleveragetelematicsandIoTtechnologiesusingnavigationalpositioning.Smarttechnologiescanreducetheoperationalcostsofmanagingfleet,increaseroutingefficiency,andalsoenhancedriversecurity.MercuryFleetbyMercuryGateInternationalIncfacilitatesinstantcommunicationwithdrivers,andalsohelpstrackequipmentinrealtimeviacontroltowervisibility.Thefleetmanagementmarketisdrivenbythegrowingdemandforlogisticsandfreighttransportation.Fleetmanagementaccountedforarevenueshareof$9819.39millionintheapplicationsegmentin2022. Whereas,automatedticketingisexpectedtogrowataCAGRof11.39%intheapplicationsegmentovertheforecastedperiod.Automatedticketingsystemsforpublictransport,suchasbuses,metros,andtrains,relyontheuseofsmartcardsandIoTtechnology.Thesesystemsenablehassle-freepayments,savetime,andeliminateotherbarriersassociatedwithtraditionalticketingsystems.Also,recentprojectsinIndiaandChinaforthedevelopmentofIRTMS-basedunifiedautomatedticketingsystemshaveenhancedthescopeofthisapplication.SuchdevelopmentshavealsobolsteredtheAsia-Pacificintelligent roadways transportation management systems market,whichisexpectedtogrowatan11.02%CAGRduringtheforecastperiod. SmartCities:Market’sFutureAgenda AccordingtotheWorldBank,nearly4.4billionpeopleworldwideliveincities.Andby2050,theglobalurbanpopulationisexpectedtoreachmorethandoubleitscurrentsize.Theconceptofsmartcitiesisgainingimpetus,whichwillbringtogethertechnologyandinfrastructure.Itwilltransformcitiesthroughinfrastructuredevelopmentandimprovepeople’squalityoflifebyefficientpublicservicedelivery. Smarttransportsystemsandsmartcitytrafficmanagementarerevolutionizingtheapproachtowardsmobilityandemergencyresponse,whilereducingcongestionissues. GlobalhubslikeNewYorkCityhaveembracedthisdevelopment.Theimplementationofautonomousgoodstransportationsystemsacrossthecountryhasdrasticallyimprovedsupplychainefficiencyandalsoreducedtheneedforlong-hauldriverstobalancetighttimelines.Also,smartinfrastructuredevelopmentfortransportationmanagementrepresentsgrowthopportunitiesforIRTMSproviders,as varioustransportationagenciesandcarrentalcompaniesinsmartcitieswillusethesesolutionsto

  3. reducetrafficcongestionandsavetime.Thus,therisingconceptofsmartcitiesisanticipatedtofosterthegrowthoftheintelligentroadwaystransportationmanagementsystemsmarket.reducetrafficcongestionandsavetime.Thus,therisingconceptofsmartcitiesisanticipatedtofosterthegrowthoftheintelligentroadwaystransportationmanagementsystemsmarket. FAQs: Q1)WhataretherevenueestimatesfortheIRTMSmarket? TheIRTMSmarketwasvaluedat$34875.99millionin2022,andisanticipatedtoreach$74615.39millionby2030. Q2)Whicharethedifferentapplicationscoveredinthemarketreport? PassengerInformationManagement,AutomatedTicketing,AutomatedTrafficControl,FleetManagement,AutomatedParkingAssistance,andOtherApplications.

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