Intelligent Railways TMS Market | Growth Prospects 2023-2030
Triton Market Research presents the ‘Global Intelligent
Railways Transportation Management Systems Market’ report sectioned by
Component (Hardware [Information & Rule Display Systems, Security &
Surveillance Cameras, Line Wires, Sensors, Other Hardware Components], Software
[Database Management Systems, Smart Traffic Management Analysis Software, Video
Recording Software, Other Software Components], Service [Support &
Maintenance Services, Cloud Management Services]), by Application (Automated
Ticketing, Automated Traffic Control, Passenger Information Management, Other Applications),
and by Regional Outlook (Asia-Pacific, Latin America, Europe, Middle East and
Africa, North America).
The
report further discusses the Market Summary, Industry Outlook (Parent Market
Analysis, Impact Analysis, Market Maturity Analysis, Porter’s Five Forces
Analysis, Regulatory Framework, Industry Components, Key Market Strategies, Key
Buying Impact Analysis, Drivers, Challenges, Opportunities, Analyst
Perspective), Competitive Landscape, Research Methodology & Scope, Global
Market Size, Forecasts & Analysis (2023-2030).
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Triton’s
research report implies that the global intelligent railways transportation
management systems market is likely to expand at a CAGR of 10.95% during the forecast years from 2023 to 2030.
According
to Organization for Economic Co-operation and Development (OECD) projections,
passenger transport will surge by 2.3 times and freight transport by 2.6 times,
by the year 2050. Such developments are expected to enhance the need for
optimizing key functioning areas of passenger and freight service providers.
Hence,
they are largely turning to technology and automation, which is expected to
favor the growth of the studied market over the forecast period. However, it is
important to note that the deployment of IRTM systems is a time-consuming,
cumbersome, and cost-intensive process. This largely hinders their adoption,
creating challenges in the path of market growth.
The
Asia-Pacific is expected to observe the fastest growth in the global market
over the forecasted period. The rising adoption of IoT, rapid urbanization, the
need for efficient traffic control, and government initiatives encouraging
smart transportation systems are some of the key factors influencing the demand
for intelligent railways TMS, which is expected to foster the regional market’s
growth over the forecasted period.
Leading
players engaged in the intelligent railways transportation management systems
market include Kuebix LLC, Denso Corporation, Tata Consultancy Services (TCS),
IBM Corporation, Oracle Corporation, SAP SE, Siemens AG, 3GTMS Inc, Blue
Yonder, and Thales Group.
The
studied market is characterized by moderate-to-high product differentiation,
rising product penetration levels, and intense competition. Major vendors, such
as SAP SE, 3GTMS, and IBM Corporation, boast of a strong client base, and are
thus less impacted by market competition.
However,
other players compete intensely to gain higher percentages of the market share.
To attain this goal, one of the key strategies adopted by market players is the
focus on R&D and product innovation. Apart from that, M&A deals have
also emerged as preferable strategies for growth.
For
instance, Denso Corporation, a leading mobility solutions supplier, and Aisan,
a renowned powertrain solutions supplier, announced their agreement to transfer
the former’s fuel pump module business to Aisan. With such efforts by
companies, the market for intelligent railways transportation management
systems is poised for growth.
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