DUBLIN–(BUSINESS WIRE)–The “Global Transportation Management Systems Market By Deployment, By End Use, By Mode of Transportation, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Transportation Management System Market size is expected to reach $21.08 billion by 2027, rising at a market growth of 17.0% CAGR during the forecast period.
A transportation management system (TMS) refers to a platform that is developed to ease up the transportation process, a sub-segment of the supply chain. In addition, it helps to manage the different aspects of transportation of products such as monitoring, organizing, managing, and handling right from placing the order until the final delivery.
In addition, the rising traction of these systems in different countries is expected to drive the growth of the market. Additionally, the requirement for transportation management systems is constantly rising with the surge in complications of logistics and transportation with the business growth. Generally, TMS allows a streamlined transactional and communication system to enable users to harness the benefits of real-time data, make informed decisions, and plan & strategize for optimal transportation solutions.
By adopting transportation management systems, organizations and businesses aims to streamline the major operational processes and functionalities like precise freight audit, payments, yard management, route planning and optimization, order visibility, load building, carrier management related to procurement and freight shipment.
The majority of the cloud-based transportation management systems are available in the form of software-as-a-service (SaaS). This indicates that users subscribe to the technology on a monthly or yearly basis rather than buying the technology. This proves to be an affordable method and users can always use the most advanced version of the software. Additionally, the growth of the market is expected to be fuelled by technological developments like IoT and cloud-based services.
Market Growth Factors:
Thriving e-commerce sector
The growing number of consumers is harnessing the potential of online channels and smart devices. In addition, many logistics providers are adopting TMS solutions to enhance the supply chain that can provide on-time delivery to more customers through conventional shipping and offer other delivery-related benefits. Hence, transportation management systems play a crucial role in the growth of e-commerce industry by providing an improved customer experience.
Large-scale adoption of autonomous and connected vehicles
In the last few years, the transportation and logistics industry has witnessed a massive deployment of autonomous and connected vehicles. In addition, the constant technological developments in AI and the rising investments in the development of sensors and vision technologies are boosting the demand for autonomous vehicles to bring transformation in the different aspects of vehicles such as assembly, operation, utilization, and servicing.
Market Restraining Factor:
Need for high investment to deploy TMS solution
The digitalization of transportation operations needs a massive investment that includes the deployment of automation equipment, solutions, and software, which cost a significant amount. In addition, there is a substantial cost attached to replace the current processes. Additionally, factors such as the low adoption rate of these systems because of the complications in the integration of many IoT platforms, various protocols, and numerous APIs.
Scope of the Study
Market Segments Covered in the Report:
By Deployment
By End Use
- Manufacturing
- Logistics
- Retail & E-commerce
- Government Sector
- Others
By Mode of Transportation
- Roadways
- Railways
- Airways
- Waterways
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
- IBM Corporation
- Oracle Corporation
- SAP SE
- Descartes Systems Group, Inc.
- Manhattan Associates, Inc.
- E2open Parent Holdings, Inc.
- C.H. Robinson Worldwide, Inc.
- MercuryGate International (Summit Partners)
- Blue Yonder
- Infor, Inc. (Koch Industries)
For more information about this report visit https://www.researchandmarkets.com/r/j151bm
