Yahoo Finance Global Transportation Management System Market worth $28.0 billion by 2027, growing at a CAGR of 19.1%: Report by MarketsandMarkets™
Chicago, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The Global Transportation Management System Market is projected to grow from USD 11.7 billion in 2022 to USD 28.0 billion by 2027, at a CAGR of 19.1% during the forecast period, according to a new report by MarketsandMarkets™. The need to replace and update the existing and conventional transportation management systems is expected to support the demand for advanced transportation management solutions.
Browse in-depth TOC on "Transportation Management System Market"
407 - Tables
46 - Figures
317 – Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2017-2027 |
Base year considered | 2021 |
Forecast period | 2022-2027 |
Forecast units | Value (USD Million/Billion) |
Segments covered | By Component, Transportation Mode, Organization Size, Vertical, Deployment Mode, End User and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
Companies covered | Oracle (US), SAP ( Germany), Manhattan Associates (US), C.H. Robinson (US), E2open (US), Trimble (US), WiseTech Global (Australia), Descartes Systems Group (Canada), MercuryGate International (US), Blue Yonder (US), Transplace (US), Alpega Group (Belgium), Worldwide Express (US), Infor (US), Generix Group (France), 3Gtms (US), Shipwell (US), 3T Logistics & Technology Group (UK), Ratelinx (US), oTMS ( China), nShift (UK), BlueRock Logistics (Netherlands), Elemica (US), TESISQUARE (Italy), DDS Logistics ( France), Supplystack (Belgium), vTradEx (China), Shiptify ( France), GlobalTranz (US), InMotion Global (US), MP Objects (US), Logistically (US), One Network Enterprises (US), Envase Technologies (US), IntelliTrans (US), Allotrac (Australia), Revenova (US), Princeton TMX (US), CTSI Global (US) and Ultraship TMS (US) |
The conventional transportation management system has features like contract management, load planning and optimization, transportation execution and freight audit. These features are usually considered to be standard features. With the advancement in technology, now we have advanced features like parcel shipping, dock scheduling and yard management, real-time visibility, big data analytics and network modelling.
The network modeling feature allows the users to create what-if scenarios before implementing a particular transportation plan. Network modeling also allows them to change the planning and execution of transportation in real time without causing any financial loss. Analytics and reporting features allow users to analyze and predict the future costs and dynamics associated with transportation. These features are not available in conventional transportation management systems. However, they are still being used aggressively and are not very efficient. Thus, the need for companies to replace the existing transportation management system with the new ones will surely boost the TMS market.
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By Vertical, the retail segment is expected to account for the largest market share in the Transportation Management System Market. The retail industry comprises F&B, clothing, consumer products, and eCommerce. The segment has witnessed tremendous growth over the years due to increased eCommerce penetration across the globe, along with improvements made in transportation management solutions that help address enterprise demands. Also, the need to provide a scalable solution to manage fleets, optimize routes, and real-time tracking updates and status of operators and shippers, all while improving efficiencies, reducing costs, and increasing customer satisfaction will drive the segment.
By end user, the shippers segment is expected to hold the highest market size in the Transportation Management System Market. The need to automate processes to save time and reduce spending on future shipments will drive the adoption of TMS solutions and services in the shipper segment.
Asia Pacific is estimated to be the fastest growing market for transportation management system solutions. The demand for transportation management system solutions across different industry verticals is expanding at an impressive rate in the region. The Asia Pacific is witnessing high growth due to the increasing global competition, the growing penetration of smart devices and connected machines. The region is a current hotspot of the TMS market and attracts several companies. Transport modes and operators are diversifying rapidly in Asia and the Pacific, and demand for accessibility and efficiency is growing across transport systems and will drive the market in the region.
Major vendors in the global Transportation Management System Market Oracle (US), SAP ( Germany), Manhattan Associates (US), C.H. Robinson (US), E2open (US), Trimble (US), WiseTech Global (Australia), Descartes Systems Group (Canada), MercuryGate International (US), Blue Yonder (US), Transplace (US), Alpega Group (Belgium), Worldwide Express (US), Infor (US), Generix Group (France), 3Gtms (US), Shipwell (US), 3T Logistics & Technology Group (UK), Ratelinx (US), oTMS ( China), nShift (UK), BlueRock Logistics (Netherlands), Elemica (US), TESISQUARE (Italy), DDS Logistics ( France), Supplystack (Belgium), vTradEx (China), Shiptify ( France), GlobalTranz (US), InMotion Global (US), MP Objects (US), Logistically (US), One Network Enterprises (US), Envase Technologies (US), IntelliTrans (US), Allotrac (Australia), Revenova (US), Princeton TMX (US), CTSI Global (US) and Ultraship TMS (US).
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