The transportation management system (TMS) market refers to the industry of software solutions and platforms designed to manage transportation and logistics operations for businesses of all sizes. TMS solutions are used to optimize and automate various processes related to transportation, including route planning, load optimization, carrier selection, freight payment and auditing, and real-time shipment tracking.
The TMS market is expected to continue its growth trajectory in the coming years due to several factors such as increasing demand for visibility and transparency in supply chain operations, rising adoption of cloud-based solutions, and advancements in technologies such as artificial intelligence, machine learning, and the Internet of Things.
According to a market research report by Market Research Future, the global transportation management system market size is projected to grow $7,981.5 million by 2030, at a CAGR of 8.6% during the forecast period. North America is expected to hold the largest market share due to the presence of major players and early adoption of TMS solutions. The Asia Pacific region is expected to grow at the highest CAGR due to the increasing adoption of e-commerce and the growth of the manufacturing sector.
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Competitor Analysis:
- The Global Transportation Management System (TMS) Market report also offers a study of key market participants.
- Key company’s revenues in the market
- Major players’ revenues share in the market.
- The report provides trends, barriers, as well as challenges that could affect the growth of the Global Transportation Management System (TMS) Market.
This report encompasses several aspects of marketing research and analysis that can be listed as market size estimations, market dynamics, entry-level marketing strategies, positioning and segmentation, competitive landscaping, opportunity analysis, economic forecasting, industry-specific technology solutions. The recent enhancements that took place in the Global market and their influence on the future growth of the Global Transportation Management System (TMS) Market have also been presented through this study.
Top Key Players:
- Oracle Corporation (US)
- JDA Software Group Inc. (US)
- Manhattan Associates Inc. (US)
- Descartes Systems Group Inc. (Canada)
- SAP SE (Germany)
- BluJay Solutions Ltd (US)
- CTSI-GLOBAL (US)
- EFKON GmbH (Austria)
- Alpega Group (Austria)
- HighJump (US)
- MercuryGate (US)
By regions, the worldwide Transportation Management System (TMS) Market covers:
- North America (United States, Canada, and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and the rest of South America)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Most recent developments in the Transportation Management System (TMS) market:
- Increased adoption of cloud-based TMS: Many TMS providers are moving towards cloud-based solutions to offer more flexibility, scalability, and cost-effectiveness to their customers. Cloud-based TMS also enable real-time collaboration and data sharing among supply chain partners, which is crucial for effective transportation management.
- Integration with other supply chain systems: TMS providers are now offering integrations with other supply chain systems such as Warehouse Management Systems (WMS), Enterprise Resource Planning (ERP), and Electronic Data Interchange (EDI) to provide end-to-end visibility and automation across the entire supply chain.
- Advancements in AI and machine learning: Many TMS providers are incorporating artificial intelligence (AI) and machine learning (ML) technologies into their solutions to offer better predictive analytics, optimization, and automation capabilities. For example, AI can help with load planning and optimization, while ML can help with real-time route optimization and predictive maintenance.
- Rising focus on sustainability: The transportation industry is increasingly focusing on sustainability and reducing its carbon footprint. Many TMS providers are offering solutions to help their customers reduce their transportation emissions, such as optimizing routes to reduce miles driven or utilizing alternative fuels and transportation modes.
- Strategic partnerships and acquisitions: TMS providers are forming strategic partnerships and acquiring other companies to expand their offerings and capabilities. For example, in 2021, Descartes Systems Group acquired QuestaWeb, a provider of foreign trade zone (FTZ) solutions, to enhance its global trade management (GTM) offering.
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Industry LandscapeMarket Research Future offers a five-year forecast for the Global Transportation Management System (TMS) Market 2020 between 2017 and 2025.
By value, the global Transportation Management Systems Market might register 6.7% CAGR during the forecast period.
As the economy has started to mend after long terms impact of COVID-19, the market will be attaining a high valuation by the year 2025 up from the previous share.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1397Transportation Management System Growth BoostersRapidly mounting economies offer opportunities and challenges to the transportation industries.
Thus, the requirement of the transportation management system is escalating owing to the need for safety standards during transportation, storage and handling of goods.MRFR finds that with the escalating transportation costs owing to complex and intensive transportation networks, the need for transportation management system is also growing which is motivating the overall global transport management system market.
In fact, surging demand for ‘software as a service (SaaS)’ based transport management system is further anticipated to kindle the global transport management system market.Apart from this, the rising advancements in transport management systems over the conventional ones is yet another significant factor fuelling the growth of the global transport management system market.
With this, the factor of the high cost associated with the initial installation of the transport management system is yet another critical factor restraining the smooth development of global transport management system market.Regional FrameworkTransportation Management System Market Size by region has been studied for the prime regions of Europe, North America, Asia-Pacific, the Middle East and Africa, and South America.Among these, North America grabbed the largest market share in 2018, with a market value of USD 1,241.0 million; thus, the market is expected to register a CAGR of 5.9% during the forecast period.
Transportation Management System (TMS) Market:WiseGuyReports.com adds “Global Transportation Management System (TMS) Market Research Report 2020 Analysis and Forecast 2026” reports to its database.Executive SummaryGlobal Transportation Management System (TMS) Market is valued approximately USD 70 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16% over the forecast period 2020-2026.
This technology evaluates and report complete shipping data, monitor vendor and carrier accomplishment, improve routing and mode, and also gives end-to-end visibility of transportation movement.
Through these digital technologies, such as Radio-Frequency Identification (RFID) and collaboration platforms, TMS providers are discovering ways to fulfill real-time economy demand for a timely and faster accomplishment of business process in each industry.
Consequently, the digital technologies are revolutionizing the landscape of the transportation industry, thus encouraging TMS vendors and third-party sources to incorporate digitized systems for transportation activities and supply chain management.
Similarly, In May 2017, Oracle added new capabilities to its logistic cloud solutions, namely, Oracle Transportation Management (OTM) Cloud and Oracle Global Trade Management (GTM) Cloud.
Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5272662-global-transportation-management-system-market-size-study-byThe regional analysis of global Transportation Management System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.
The report "Transportation Management System (TMS) Market by Component (Solutions and Services), Transportation Mode (Roadways, Railways, Airways, and Maritime), Deployment Type (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2025 ", is expected to grow from USD 7.7 billion in 2020 to USD 17.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period.
The major factors driving the growth of the TMS industry include Technological advancements in the transportation and logistics industry and exponential growth in the eCommerce industry.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=232446179The large enterprise segment to hold the largest market size during the forecast periodThe adoption of TMS solutions and services is higher in large enterprises, and the trend is expected to continue during the forecast period.
TMS systems offer a single centralized system, with features such as route optimization, carrier tracking, analytics, order management, and account settlement.
Hence, large enterprises heavily invest in advanced technologies to increase their overall productivity and efficiency.
The demand for flexible, scalable, and convenient services by large enterprises is expected to encourage the market players to come up with newer technologies and innovative solutions.Healthcare and Pharmaceutical to record the fastest growth rate during the forecast periodHealthcare enterprises are facing a huge demand due to pandemic.
However, supply chain and logistics disruptions across the globe are making it difficult for enterprises to cater to this demand.
