BANGALORE, India, April 14, 2021 /PRNewswire/ -- The global Transportation Management System Market is segmented By Component (Solution and Services), Solution Type (Planning & Execution, Order Management, Audit, Payment, & Claims, Reporting & Analytics, and Routing & Tracking), Deployment Model (On-premise and Cloud), Transportation Mode (Roadways, Railways, Airways, and Maritime), and Industry Vertical (Retail, Healthcare & Pharmaceuticals, Manufacturing, Energy & Utilities, Transportation & Logistics, Government, and Others). This report covers Global Opportunity Analysis and Industry Forecast from 2020 to 2027. This report is published on Valuates Reports in the Software Utilities Category.
The global Transportation Management System Market was valued at USD 5,467 Million in 2019 and is projected to reach USD 11,367 Million by 2027, registering a CAGR of 9.6% from 2020 to 2027.
Major factors driving the growth of transportation management system market size are :
Increased demand for efficient transportation solutions due to the e-commerce industry's rapid growth.
Growing adoption of cloud technologies and industry 4.0, as well as the popularity of autonomous and connected vehicles.
Need for better transactional and communication systems that can help capitalize on real time data aid in easier decisions, and plan & strategize for optimal transportation solutions.
Furthermore, the transportation management system can help increase ROI of companies in the transportation industry.
TRENDS INFLUENCING THE TRANSPORTATION MANAGEMENT SYSTEM MARKET SIZE
Ongoing technological advancement across the transportation and logistics sector is expected to drive the growth of the transportation management system market size. Growing technological convergence in the transportation sector has opened up previously unimagined possibilities for operational efficiencies, sustainability, innovative business models, and enhanced customer experiences. Advanced technologies, including the Internet of Things (IoT), big data, and artificial intelligence (AI) and their predictive capabilities, have resulted in smarter and more effective transportation operations.
The E-commerce industry is witnessing tremendous growth. However, the e-commerce industry continues to face higher costs because some players have struggled to integrate their e-commerce and transportation management systems, resulting in increased shipping spending. As a result of this issue, there is a greater need for an efficient transportation management system. TMS in e-commerce enables shippers to use all modes of transportation, which is especially important during peak shipping times and during the ongoing capacity crunch. Thus the increasing adoption of TMS in e-commerce coupled with the exponential growth of the e-commerce industry is expected to increase the growth of transportation management system market size.
Furthermore, the increasing adoption of cloud technologies and industry 4.0, as well as the popularity of autonomous and connected vehicles, are expected to boost the transportation management system market growth during the forecast period.
TRANSPORTATION MANAGEMENT SYSTEM MARKET SHARE ANALYSIS
Based on the solution, in 2019, the planning and execution segment dominated the market and is expected to continue to do so in the coming years. Market growth is driven by lower costs for the company and the end-user, as well as consolidation of business processes for quicker and more reliable billing and documentation.
Because of the large number of players, North America is expected to dominate the transportation management system market during the forecast period. The TMS industry is one of the biggest industries in the North American landscape, generating the highest revenue worldwide. The United States and Canada are collaborating to gain a larger share of the transportation management systems market. Furthermore, the transportation management system market in Canada is expected to expand at the fastest pace.
Based on components, in 2019, the solution segment dominated the global transportation management system market, as solutions aid in the optimization of the overall supply chain process, resulting in higher profit margins and growth.
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
- The Transportation Management System (TMS) integrator market is composed of service providers that can help with the selection of TMS solutions as well as the configuration, integration, implementation and/or upgrade of transportation management applications. The market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Transportation Management System Integrator market will be able to gain the upper hand as they use the report as a powerful resource.
- Transportation Management System (TMS) Solution Market by Product-Type: Planning and Execution, Order Management, Audit, Payment and Claims, Reporting and Analytics, Routing and Tracking, Application: Retail, Healthcare and Pharmaceutical, Manufacturing, Transportation and Logistics, Energy and Utilities, Government, Others,by key players, by Regions: North America, Europe, China and Japan, etc.
- Freight Transportation Management System Market by Product-Type: Rail Freight, Road Freight, Ocean Freight, Air Freight, Application: Third-Party Logistics (3PLs), Forwarders, Brokers, Shippers, Carriers, Region: Global, Published-date: Mar-04-2020, Price: Single User $3900, Multi User $5850, Enterprise User $7800, . Inquire sample for Global Freight Transportation Management System Market Research Report.
- The Global Intelligent Transportation System Market is expected to grow from USD 27,256.13 Million in 2018 to USD 43,563.13 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 6.92%.
- Smart transportation market size was valued at USD 63,667 Million in 2015, and is projected to reach USD 237,701 Million by 2022, growing at a CAGR of 18.6% from 2016 to 2022.
- The global Digital Logistics market size is projected to reach USD 22170 Million by 2026, from USD 10230 Million in 2019, at a CAGR of 11.5% during 2021-2026.
- The global supply chain management market size was valued at USD 15.85 Billion in 2019, and is projected to reach at USD 37.41Billion by 2027, growing at a CAGR of 11.2% from 2020 to 2027.
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.