Yahoo Finance Transport Management System Market Size to Reach USD 7,981.5 Million, With a 8.6% CAGR by 2030 - Report by Market Research Future (MRFR)
Transportation Management System Market is driven by Digitalization of transportation operations and services enables operators
New York, US, Sept. 27, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Transport Management System Market Research Report: Information by Component, Industry, Enterprise size, and Region—Forecast Till 2030”, the market is anticipated to acquire a valuation of approximately USD 7,981.5 million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8.6% during the assessment timeframe.
Transport Management System Market Overview:
The transportation management systems assist the executives of several industry sectors in lowering the general charges, offering real-time supply chain visibility, and boosting the efficiency of shipments. Cloud-based solutions enable users to effectively handle logistics processes, link, partner with trading partners and recycle and share supply chain data to improve time-to-value. Transportation management systems can also be directly linked with freight savings from process optimization, the selection of low-cost transport modes, and efficient routing. Any inadequacies included in the management of transportation of goods among the source and destination can substantially boost the overall costs while adding to customers' frustration and eroding the brand's image. Therefore, the businesses are determined to implement TMS to restrict financial losses and defend brand reputation. TMS can also boost operational efficiency and the ROI adopted mainly from load and inventory optimization. On the other hand, TMS evolves, and ROI is obtained not just from inventory and load optimization but across various functions. The global health crisis in the form of COVID-19 has had a massive impact on industrial operations across the global TMS market.
Transport Management System Market Competitive Analysis
The list of prominent participants across the global transportation management system market includes companies such as:
Next Generation Logistics
Oracle Corporation
CTSI-GLOBAL
Blue Yonder Group, Inc.
EFKON GmbH
Manhattan Associates Inc
Alpega Group
The Descartes Systems Group Inc
Körber AG (HighJump)
SAP SE
Mercurygate
E2open, LLC.
One Network Enterprises
BluJay Solutions Ltd.
Precision Software
Everlog
ORTEC, TMW Systems (Trimble)
CARGOSMART
Omnitracs
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Transport Management System Market Report Scope:
Report Metric | Details |
Revenue forecast in 2030 | USD 7,981.5 Million |
Growth Rate | CAGR of 8.6% from 2022 to 2030 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Key Market Opportunities | Growing Adoption of IoT and Big Data |
Key Market Drivers | Digitization of the transport industry |
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Transportation Management System Market USP Covered
Market Drivers
The global transportation management system market has increased in recent years owing to the rising adoption of IoT and Big Data and digitization in the transportation industry.
Market Restraints
On the other hand, data privacy concerns may restrict the market's growth.
COVID-19 Impact
The global health crisis in the form of COVID-19 has had an enormous impact on the majority of the market areas across the globe. The travel industry remains one of the most affected market areas. Given the travel restrictions and social distancing norms, governments impose worldwide, the global market for transportation management systems has faced several unexpected challenges. On the other hand, with all the financial and industrial activities returning to normal, the global market is anticipated to grow substantially over the review era.
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Transportation Management System Market Segment Analysis
Among all the deployment modes, the on-premises segment is anticipated to dominate the global market for transportation management systems during the review timeframe. Various businesses across the globe still go for on-premises solutions to ensure convenient access to the server, adequate security of data, and better control over customization. On the other hand, the cloud segment is anticipated to exhibit the maximum CAGR over the review timeframe. The rapid growth in the volumes of data generated across the organization is the main factor boosting the segment's growth.
Among all the transportation modes, the roadways segment is anticipated to dominate the global market for transportation management systems over the coming years. the flexibility offered and cost-effectiveness of these modes is the main factor supporting the segment's growth. On the other hand, the waterways segment will likely witness the highest CAGR over the rye review era.
Among all the end-user industries, the manufacturing segment is predicted to hold the top position across the global market for transportation management systems over the review timeframe. However, the retail & e-commerce segments may witness the maximum growth rate over the assessment era.
Transportation Management System Market Regional Analysis
The global market for transportation management systems is analyzed across five major regions: South America, the Middle East & Africa, Europe, North America, and Asia-Pacific.
The MRFR analysis reports suggest that the North American region will secure the top position across the global transportation management system market over the review timeframe. The region has led the global market in recent times. It will likely continue doing so over the coming year while thriving substantially during the assessment timeframe at a healthy CAGR of approximately 6.6%. The growing focus by local authorities across several North American nations on connected infrastructure to facilitate smooth transit is the central aspect supporting the regional market's growth over the years. The region is known to be the home to several key leaders across the globe, such as MercuryGate International Inc., Manhattan Associates, International Business Machines Corporation, 3GTMS, JDA Software Group Inc., Kuebix, Cerasis Inc., Infor Inc., and several other, which in turn is causing a rise in demand for these systems across the region boosting the regional market's performance.
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The transportation management system market for the European region is anticipated to grow substantially over the review timeframe at a substantial CAGR of approximately 9.2%. The many automobile sectors and growing tourism across the region the support
The Asia-Pacific regional transportation management system market is anticipated to register the highest CAGR of approximately 10.9%over the assessment era. The main parameter supporting the growth of the regional market is the unabated growth of retail and e-commerce industries across nations such as Indonesia, Singapore, China, and India. Furthermore, the growing number of initiatives being pursued and the policies being drafted by several regional governments are likely to generate numerous opportunities for the players across the regional market over the review timeframe. Moreover, the rollout of intelligent transportation systems by the leading market participants is also predicted to influence the market's growth over the coming years positively.
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