The global TMS market accounted for US$ 1,920.6 Mn in 2017 and is expected to grow at a CAGR of 7.02% over the forecast period 2018-2025, to account for US$ 3,262.3 Mn in 2025
LONDON, March 11, 2019 /PRNewswire/ --
The global TMS market accounted for US$ 1,920.6 Mn in 2017 and is expected to grow at a CAGR of 7.02% over the forecast period 2018-2025, to account for US$ 3,262.3 Mn in 2025. The demand for TMS is largely influenced by rise in the number of retail and e-commerce players in the developing economies across the globe which helps to raise the installation of TMS tools. Also, rapid industrialization leads into prompt infrastructural developments which further impacts positively on thriving the overall economy.
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The TMS market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years.In addition to this, various initiatives are undertaken by the governmental bodies to further accelerate the TMS market.
For instance, Dallas Department of Transportation has signed an agreement with Ericsson.Under this agreement, Ericsson aims to offer software and hardware for traffic management systems to ensure a enhance communication network.
It enables communication throughout varied networks. Also, decision for setting of a regulatory framework may affect the configuration of transport and logistic networks.
On the basis of function, the large enterprise segment is leading the TMS market.However, the small enterprises are anticipated to grow at a highest CAGR.
The large enterprises is witnessing a high adoption of TMS to manage their entire internal and external supply chain services. Moreover, growth in large and well-established retail and e-commerce industries is further plays a major role in contributing towards the growth of transportation management system market.
The overall TMS market size has been derived using both primary and secondary source.The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the TMS market.
It also provides the overview and forecast for the global TMS market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the transportation management system industry. Some of the players present in transportation management system market are 3GTMS, Inc., The Descartes Systems Group Inc., Manhattan Associates, Oracle Corporation, C.H. Robinson Worldwide, Inc., JDA Software Group, Inc., BluJay Solutions Ltd., SAP SE, and MercuryGate International Inc. among others.
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Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the transportation management system market, thereby allowing players to develop effective long term strategies.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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