The Transportation Management Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Transportation Management Systems Global Market Report 2024, The transportation management systems market size has grown rapidly in recent years. It will grow from $10.53 billion in 2023 to $12.01 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to globalization of supply chains, rise in e-commerce, regulatory compliance, demand for cost efficiency, focus on customer satisfaction.
The transportation management systems market size is expected to see rapid growth in the next few years. It will grow to $20 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to complexity of supply chain networks, sustainability and green initiatives, evolving consumer expectations, rise of last-mile delivery solutions. Major trends in the forecast period include demand for cloud-based solutions, dynamic route planning and optimization, integration of Internet of things (IoT) sensors, emphasis on user-friendly interfaces and mobile applications.
The adoption of cloud and IoT applications is expected to drive the growth of the transportation management system market. APIs and other interfaces for pushing and extracting data to and from IoT sensor devices and downstream applications are included in IoT and cloud applications. The Internet of Things (IoT) delivers highly integrated and simplified transportation and warehouse management solutions in the transport, logistics, and fleet management sectors, connecting in-vehicle sensors and other cohesive digital devices through the network. For instance, in 2022, according to a Finoit Inc. IT services firm report, many transportation and logistics organizations implementing RFID today are achieving nearly 100% shipping and receiving accuracy, 99.5 % inventory accuracy, 30% faster order processing, and 30% labor cost reduction. Therefore, the adoption of cloud and IoT applications will propel the transportation management system market.
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The transportation management system market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: On-premise, Cloud
3) By Mode of Transportation: Roadways, Railways, Waterways, Airways
4) By Industry Vertical: Retail, Healthcare and Pharmaceutical, Manufacturing, Energy and Utilities, Government Sector, Other Industry Verticals
Major companies operating in the transportation management system market are focused on developing intelligent solutions to increase their profitability in the market. Intelligent solutions in TMS leverage advanced technologies and data analytics to enhance the efficiency, visibility, and decision-making processes within transportation operations. For instance, in September 2023, 3SC Solutions, an India-based data analytics company launched Intelligent Transport Management Solution (iTMS). This solution synergizes AI and data analytics, optimizing the entire transportation cycle. iTMS employs AI to analyze extensive data, enabling precise demand predictions and informed decision-making for planners. This advanced platform integrates various facets of transport management, enhancing efficiency and providing a holistic solution for logistics and supply chain management. It incorporates automated order acquisition, AI-driven shipment planning, real-time execution orchestration, and advanced tools for contract management and financial auditing in global logistics.
The transportation management systems market report table of contents includes:
1. Executive Summary
2. Transportation Management Systems Market Characteristics
3.Transportation Management Systems Market Trends And Strategies
4. Transportation Management Systems market analysis
5.Transportation Management Systems Market Size And Growth
6.Transportation Management Systems Segmentation
7.Transportation Management Systems Regional And Country Analysis
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27.Transportation Management Systems Competitive Landscape And Company Profiles
28.Transportation Management Systems Key Mergers And Acquisitions
29.Transportation Management Systems Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Oracle Corporation
- SAP SE
- C.H. Robinson Worldwide Inc.
- GlobalTranz Enterprises Inc.
- Trimble Inc
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