The Global Transportation Management Systems Market was $2.50 Bn USD in 2021 and is growing at a CAGR of 14.85% every year, it will reach $6.60 Bn USD in 2029.
LOS ANGELES, CALIFORNIA, USA, March 6, 2023 /EINPresswire.com/ — Transportation Management Systems Market Overview
Computer systems called transportation management systems (TMS) are used to manage transportation resources like infrastructure, drivers, and vehicles. TMSs can manage traffic and parking, optimize travel routes and schedules, and keep track of passenger movement. They can also offer real-time updates on traffic conditions and aid in easing congestion.
The development of more sophisticated and integrated TMS systems as a result of ongoing technological innovation is what is driving this industry. Additionally, the desire for greater visibility and efficiency as well as the growing internationalization of supply chains are factors that are propelling market expansion.
Market Segment and Regional Analysis
Due to its benefits including scalability, enhanced flexibility, pay-as-you-go pricing, and ease of implementation, the cloud-based TMS sector is anticipated to grow at the greatest CAGR throughout the projection period. Furthermore, because of their low initial investment and ongoing maintenance expenses, small and medium-sized businesses (SMEs) are rapidly implementing cloud-based TMS solutions.
Based on application, the TMS market is divided into logistic companies and manufacturers. The logistics company had a greater market share for TMS overall. The significant market share of this sector can be attributed to the fact that logistics firms manage a large portion of the transportation operations for a variety of industries and have been heavily investing in TMS solutions to automate their processes and reduce operational costs and maximize fleet utilization. However, because manufacturing firms are increasingly outsourcing transport management tasks to third-party logistics providers, manufacturers are anticipated to grow at a faster CAGR during the forecast period.
The North American region is anticipated to have the greatest share of the worldwide TMS market in 2019 as a result of the region’s early adoption of technology, robust infrastructure, and the presence of major companies. However, due to the rapidly expanding economies of China and India as well as greater attention to lowering logistics costs in these nations, Asia Pacific (APAC) is anticipated to experience the highest growth during the forecast period.
Prominent Key Players of the Transportation Management Systems Market
• Webfleet Solutions
• Trimble Inc
• SAP SE
• Paragon Software
• Bornemann AG
• Asset Monitoring Solutions
Key Market Segments Table: Transportation Management Systems Market
Based on types, the Transportation Management Systems Market is primarily split into:
• Cloud-Based TMS
• Server-Based TMS
By Application, the Transportation Management Systems Market is primarily split into:
• Logistics Company
• E-commerce Company
Measurement Centre By geography, the Transportation Management Systems Market is divided into:
• Asia Pacific
• North America
• South America
• Middle East And Africa
Analysis of the impact of the Russia-Ukraine War and COVID-19
Additionally, COVID-19 has had a significant effect on the market for transportation management systems. Global commerce volumes have decreased as a result of the pandemic’s forced business closures. Because of this, there is less demand for transportation management systems. The demand for these systems is anticipated to rise as firms start to reopen because they want to optimize their supply networks.
Key Drivers & barriers in the Transportation Management Systems Market
The market for transportation management systems is characterized by a number of important drivers and obstacles. The requirement for real-time asset visibility, expanding need for cost-effective solutions, and greater attention to safety and security are a few of the major motivators. The lack of standardization and interoperability, expensive beginning costs, and a lack of knowledge of these systems, however, are some of the main obstacles.
Key Benefits for Industry Participants & Stakeholders:
The following are some of the main advantages of TMS solutions for industry participants and stakeholders:
• Reduced Transportation Costs: TMS solutions assist businesses in streamlining their transportation processes and cutting costs across the board. TMS
solutions can also assist businesses in reducing idle miles, waiting times, and fuel usage.
• Improved Delivery Times: TMS solutions assist firms in more effectively planning and carrying out their transportation operations, which results in faster
delivery times. TMS solutions can also assist businesses in tracking shipments in real-time, further increasing the effectiveness of transportation
• Greater Operational Efficiency: TMS solutions assist businesses in streamlining their transportation processes and enhancing overall operational
Following is the list of TOC for the Transportation Management Systems Market
• Global Market – Executive Summary
• Transportation Management Systems Market Outlook
• Global Market Overview
• Global Market Definition
• Market by Type
• Growth Rate by Type
• Market by Application
• Competitor Landscape by Players
• Market Competition by Manufacturers
• Key Companies Status
• Manufacturing Cost Analysis
• Growth Rate by Application
• Company Profiles
• Market Possibilities, Risks, Challenges, and Influencing Factors
• Examination of Value Chain and Sales Channels
• Research Findings
Why is Transportation Management Systems Market Research Report so Important?
• This research provides information on the size, reach, and prospects of the Transportation Management Systems Market.
• Companies can use the study to identify market opportunities and potential risks in this market.
• It provides a complete analysis of the Transportation Management Systems market, accounting for significant players, present trends, and prospective
• Every aspect of the Transportation Management Systems is examined in the study, including product categories, geographical regions, and end
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