Transportation Performance Management Solutions Market Is Primarily Driven By Rise In Demand For Continuous Monitoring Of The Performance Of Transportation Programs
Transportation performance management (TPM) is a data-driven methodology. Transportation performance management solutions focus on performance of vehicles for safe or reliable journeys. Transportation performance management uses system information to make policy decisions and investments to achieve performance objectives. It is used for providing information to decision makers through which they can understand the consequences of investment decisions in transportation. Transportation performance management solutions improve the communication between the traveling public, decision-makers, and stakeholders. The transportation performance management solution uses the geographic information systems (GIS) application for finding the geographic location.
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Transportation performance management solutions perform cost assessments for optimizing logistics spends. The goal of transportation performance management solutions is to provide safety in order to achieve major reduction in serious injuries on public roads and traffic fatalities, attain considerable decrease in congestion on the National Highway System (NHS), and to improve the efficiency of the surface transportation system. It also promotes jobs and economic growth, and reduces project costs and delays in project development and project delivery process, including reduction in regulatory burdens and improvement in agencies’ work practices.
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The global transportation performance management solutions market can be segmented based on component, enterprise size, application, end-user, and region. Based on component, the transportation performance management solutions market can be classified into solutions and services. In terms of enterprise size, the transportation performance management solutions market can be divided into small and medium enterprises and large enterprises. Based on application, the market can be divided into electrical and electronics, industrial, geographic information systems, and others.