The global transportation management system market size is expected to grow from USD 11. 7 billion in 2022 to USD 28. 0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19. 1% during the forecast period.
New York, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Transportation Management System Market by Component, Transportation Mode, Deployment Type, Organization Size, Vertical, End User & Region - Global Forecast to 2027" - https://www.reportlinker.com/p05201343/?utm_source=GNW
The emerging technologies are digitalizing the entire end-to-end transportation process for the transportation industry while reducing the costs of a range of business processes is expected to drive the TMS market.
Modern businesses are mostly dependent on technology, in which large enterprises have their own IT department for managing and maintaining business processes, whereas, most startups and SMEs do not have a proper IT department system.The reason being, it requires extra cost to manage and maintain an IT department.
So, most of the SMEs and startups adopt the cloud-based transportation management system, where they can reap the benefits of an IT department through a cloud management system without needing to employ extra staff at extra costs.This facilitates in-house employees to focus on day-to-day business operations.
The flexibility in storage of the cloud-based transportation management system offers scalability, which is very important for SMEs and will help them with unpredictable growth during the first year of the business operation.The cloud-based transportation management system offers cost savings and an attractive pay-as-you-go model, such as real-time payment through the cloud, while buying products that enable SMEs to establish themselves as efficient and competitive players among other enterprises.
SMEs can also use the cloud-based transportation management system to drive corporate strategies that enhance revenue and profits. Hence, the cloud transportation management system market is estimated to grow during the forecast period, and there are huge opportunities for cloud transportation management system providers due to the high adoption rate by SMEs.
The consulting segment to record the highest market share during the forecast period
In the transportation management system market by services, consulting segment is expected to hold the largest market size.Consulting services provide a cost-effective way to ensure performance at the highest level of in-house staff.
Also, it is important for end users as certain companies do not have the expertise to understand the complexities involved in configuring TMS. The need to address specific business-process requirements most feasibly will drive the segment.
The SMES segment is expected to grow with the highest CAGR during the forecast period
In the transportation management system market by organization size, the SMEs segment is expected to record the highest CAGR during the forecast period.The adoption of advanced technologies, such as cloud computing, big data tools, data-driven demand forecasting, and analysis would help SMEs grow in the TMS market.
Also the need for SMEs to expand their businesses while increasing productivity and achieving greater RoI would drive the segment.
The cloud segment to record the highest market share during the forecast period
In the transportation management system market by deployment mode, cloud segment is expected to hold the largest market size. Cloud-based solutions and applications are being leveraged by various organizations all over the globe The need for easy deployment, scalability, enhanced collaboration, and cost-effectiveness would boost cloud segment.
North America is expected to have a largest market share during the forecast period
North America is estimated to dominate the transportation management system market and is projected to record the largest market share during the forecast period.The region has been segmented into US and Canada.
The transportation sector in North America is undertaken strong efforts to raise resource efficiency using advance technologies.The region has witnessed the earliest adoption of cloud computing and mobile technologies, which has been significantly responsive to adopting TMS solutions and services.
Also the presence of key TMS vendor in the region would drive the market growth.
Breakdown of primaries
The study contains insights from various industry experts, ranging from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 18%, Tier 2 – 44%, and Tier 3 – 38%
• By Designation: C-level – 32%, Directors – 36%, and Others – 32%
• By Region: North America –38%, Europe –26%, Asia Pacific – 18%, ROW -18%
The report covers the competitive landscape and profiles major market players, 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). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the transportation management system market.
The market study covers the transportation management system market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on component (solutions and services), solutions (planning and execution, order management, audit, payment and claims, analytics and reporting, routing and tracking), services (consulting, implementation and integration, support and maintenance), transportation mode (roadways, railways, airways, maritime) organization size (large enterprises, SMEs) vertical (retail, healthcare and pharmaceutical, manufacturing, transportation and logistics, energy and utilities, government, others) deployment mode (on-premises and cloud ), end user (shippers, 3PL and others). and region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America). The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall the transportation management system market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05201343/?utm_source=GNW
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