Transportation Technology Solutions Companies in Colombia
The Colombian companies of transport technology solutions are a fast-growing segment within the IT industry. In 2019, the Colombian software development industry was the fourth biggest market in Latin America, after Brazil, Mexico, and Argentina. According to IDC, the industry has duplicated its income during the last years, reaching revenues of 9.500 million dollars in 2017. With high internal demand, the sectors that spent the most on IT in 2017 were the governmental, industrial, financial, transportation, and agricultural. The Colombian transportation industry has been renewing its technological aspects within the last years. Therefore, software development companies in this segment are facing great growth opportunities.
The transport industry in Colombia is relying on the Internet of Things (IoT) to advance in terms of infrastructure to offer better services to consumers. Thus, according to Frost & Sullivan, the IoT market is expected to grow by an annual compound rate of 20.8% within the following years. Within this market, 22.4% will be represented by the transportation industry. Transportation technology companies have been working with this industry to provide customers with Transportation Management Software (TMS software). This system delivers real-time product tracking and route optimization for Colombian transport companies. Therefore, customers reduce their expenses by improving their distribution and logistics.
Another relevant sector that uses IoT to increase its efficiency is the public transport industry. Colombian software developers have worked with traffic lights companies to improve their systems and traffic mobility in different cities. Additionally, public transport management systems are used by the transport industry to reduce commuting times for its users.