Overview and Scope
Transportation management system is a platform for logistics that uses technology to help businesses plan, carry out, and optimize the physical movement of goods, both coming into and going out, while also making sure there is compliance and enough paperwork. The transportation management system is used to help businesses execute, plan, and optimize the physical movement of goods.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the transportation management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the transportation management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the transportation management systems market report are Oracle Corporation, SAP SE, C.H. Robinson Worldwide Inc., GlobalTranz Enterprises Inc., Trimble Inc., Blue Yonder Group Inc., Manhattan Associates Inc., JDA Software Group Inc., E2open LLC, The Descartes Systems Group Inc., Transporeon Group, Transplace LLC, BluJay Solutions Inc., Generix Group SA, Parade Inc., Alpega Group, project44 Inc., Southern Motor Carriers Rate Conference Inc., Shippo Inc., LeanLogistics Inc., TMW Systems Inc., Unifaun AB, UltraShipTMS, vTradEx International Ltd., Shipwell Inc., Kuebix LLC, 3GTMS Inc., InMotion Global Inc., MP Objects B.V., ShipStation, Logistically Inc., Revenova LLC, MercuryGate International Inc., Supplystack NV
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 – Macro Economic Scenario
5. Global Transportation Management Systems Market Size and Growth
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32. Global Transportation Management Systems Market Competitive Benchmarking
33. Global Transportation Management Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Transportation Management Systems Market
35. Transportation Management Systems Market Future Outlook and Potential Analysis
36. Appendix
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