DUBLIN--(BUSINESS WIRE)--The "Transportation Management System Market - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The publisher forecasts the global transportation management system market 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%
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.
The report covers the competitive landscape and profiling of the major players, namely Oracle, SAP, Manhattan Associates, C H Robinson, Mercurygate International, Blueyonder, E2Open, Transplace, Alpega TMS, Trimble, Descartes, Worldwide Express, Infor Inc., Wisetech Global, Generix Group.
- Increasing Demand for Transportation Management Systems to Tackle High Demand from Ecommerce
- Retail Segment and US to Account for Large Shares in North American Market in 2022
- Roadways Segment and China to Account for Large Shares in Asia-Pacific Market in 2022
Case Study Analysis
- Case Study 1: Implementation of Manhattan TMS Solution to Achieve Efficiency
- Case Study 2: Celestica Deployed Mercurygate TMS Solution to Reduce Global Transportation Costs
- Case Study 3: Brown Trucking Selected Truckmate TMS by Trimble to Get Crucial Data for Its Company's Operations
- Case Study 4: Avery Dennison Adopted Transpace Tms to Save Cost and Simplify Uss and Mexico Customs Compliance
- Case Study 5: Crowley Relies on 3Gtms to Manage Defense Dept Contract Without Missing a Deadline or Requirement
- Cloud-based SaaS Solutions to Drive the Market
- Mergers & Acquisitions of Top-Tier Tms Product Players with Startup Solutions
- Strengthening Bilateral Trade Relations Between Various Countries and Growth in Global Trade
- Technological Advancements in the Transportation and Logistics Industry
- Exponential Growth in the Ecommerce Industry
- Need to Replace and Update the Existing Conventional Transportation Management Systems
- Growing Concerns Over Data Security
- Inaccuracies in Data Sets
- Evolving 5G to Transform the Transportation Management System
- Autonomous and Connected Vehicles to Transform the Transportation and Logistics Industry
- Increasing Adoption of Cloud-based Technology and Industry 4.0
- Slow Adoption of Tms Solution due to High Capital Investment
- Lack of Awareness of the Benefits of Tms Among the End-users
COVID-19 Market Outlook for Transportation Management System Market
- Drivers and Opportunities
- Restraints and Challenges
- Cumulative Growth Analysis
- Big Data and Analytics
- Artificial Intelligence & Machine Learning
- Internet of Things
- International Organization for Standardization
- Iso/Iec Jtc 1
- Iso/Iec 27001
- Iso/Iec 19770
- Iso/Iec Jtc 1/Swg 5
- Iso/Iec Jtc 1/Sc 31
- Iso/Iec Jtc 1/Sc 27
- Iso/Iec Jtc 1/Wg 7 Sensor
- General Data Protection Regulation
- Federal Motor Carrier Safety Administration (Fmcsa)
- Federal Highway Administration (Fhwa)
- Maritime Administration (Marad)
- Federal Aviation Administration (Faa)
- Federal Railroad Administration (Fra)
- Institute of Electrical and Electronics Engineers
- European Telecommunications Standards Institute
- Manhattan Associates
- C.H. Robinson
- Wisetech Global
- Mercurygate International
- Blue Yonder
- Alpega Group
- Worldwide Express
- Generix Group
- 3T Logistics & Technology Group
- Bluerock Logistics
- Dds Logistics
- Inmotion Global
- Mp Objects
- One Network Enterprises
- Envase Technologies
- Princeton Tmx
- Ctsi Global
- Ultraship Tms
For more information about this report visit https://www.researchandmarkets.com/r/wcniry