Transportation Management System Market is poised to reach USD 15.6 Billion by 2030, at an emergent CAGR of 10.7% during the forecast period of 2023-2030 - says MarketDigits in its recent study.
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The Global Transportation Management System Market was valued USD 6.9 Billion in 2022 and projected to reach USD 15.6 Billion by 2030, growing at a CAGR of 10.7% during the forecast period of 2023-2030.
Richmond, Nov. 22, 2023 (GLOBE NEWSWIRE) -- According to a research report "Transportation Management System Market, by Component (Service, Solution), Solution Type (Planning & Execution, Order Management, Audit, Payment, & Claims, Reporting & Analytics, Routing & Tracking), Deployment Mode (On-Premise and Cloud-based), Application (Consumer Goods and Retail, Parcel and Packages, Fire Station, Hospital, Travel and Tourism, Mining, Others), and Region.
Global Transportation Management System MarketReport Scope:
Report
Details
Market size value in 2022
USD 6.9 Billion
Market size value in 2030
USD 15.6 Billion
CAGR (2023-2030)
10.7%
Forecast Period
2023–2030
Historic Data
2019
Forecast Units
Value (USD Million/USD Billion)
Segments Covered
Solution Type, Component, Deployment Mode,Application and Region
A transportation management system (TMS) is a subset of supply chain management and is centered mainly on transportation and logistics. The Transportation Management System (TMS) market is a dynamic and rapidly evolving sector that plays a crucial role in optimizing and enhancing the efficiency of transportation and logistics operations for businesses across various industries The TMS market is experiencing robust growth, driven by factors such as the increasing complexity of supply chain networks, rising demand for real-time visibility and control, and the need for cost-effective transportation solutions. One key driver of the TMS market's growth is the expanding global supply chain landscape. Businesses today operate in a highly interconnected and globalized environment, relying on intricate networks of suppliers, manufacturers, distributors, and retailers. As a result, the demand for advanced TMS solutions has surged, as organizations seek to streamline their transportation processes, optimize route planning, and minimize costs associated with shipping and logistics.
Major Vendors In The Global Transportation Management System Market –Oracle, SAP, Manhattan Associates, C.H. Robinson, Trimble, WiseTech Global, Descartes, E2open, Generix Group, MercuryGate, Blue Yonder, Uber Freight, Alpega Group, Worldwide Express, Infor, 3Gtms, Shipwell, 3T Logistics & Technology Group, Ratelinx, oTMS, nShift, BlueRock Logistics, Elemica, TESISQUARE, DDS Logistics, vTradEx, Shiptify, GlobalTranz, InMotion Global, Kinaxis, Logistically, One Network Enterprises, IntelliTrans, Allotrac, Revenova, Princeton TMX, CTSI Global, and PCS Software.
Increasing preference for SaaS based TMS solutions
The Transportation Management System (TMS) market is undergoing a significant transformation, and a key driver of this evolution is the increasing preference for Software-as-a-Service (SaaS) based TMS solutions. This shift reflects a broader trend in the business software landscape, where organizations are increasingly adopting cloud-based solutions for enhanced flexibility, scalability, and accessibility. SaaS-based TMS solutions offer a range of advantages that align with the evolving needs of businesses in the modern transportation landscape. One of the primary reasons for the growing preference for SaaS-based TMS solutions is the inherent flexibility they provide. Traditional on-premise TMS solutions often require substantial upfront investments in hardware, software licenses, and infrastructure. In contrast, SaaS solutions operate on a subscription-based model, eliminating the need for significant initial capital expenditure. This flexibility is particularly appealing to businesses of all sizes, enabling them to access advanced TMS functionalities without the financial burden associated with traditional implementations.
Market Dynamics
Drivers:
Increasing preference for SaaS based TMS solutions
Increasing demand for supply chain optimization and visibility
Rising Need for Centralizing Transportation Workflow Enhancing Prospects
Opportunities:
The exponential growth in the e-commerce industry
Technological developments in the transportation and logistics business
The exponential growth in the e-commerce industry
The Transportation Management System (TMS) market is presented with a significant opportunity fueled by the exponential growth of the e-commerce industry. As the global economy continues to witness a surge in online retail activities, driven by changing consumer preferences and technological advancements, the demand for efficient and robust transportation solutions has never been higher. The e-commerce boom has reshaped supply chain dynamics, creating both challenges and opportunities for logistics and transportation, and TMS stands at the forefront of addressing these evolving needs. One of the primary drivers behind the symbiotic relationship between the e-commerce industry and the TMS market is the sheer volume and complexity of shipments generated by online retailers. E-commerce platforms, ranging from giants to small businesses, face the challenge of managing diverse products, handling fluctuating order volumes, and meeting customer expectations for fast and reliable deliveries. TMS solutions play a pivotal role in optimizing these processes, offering advanced functionalities such as route optimization, real-time tracking, and automated order processing to ensure the timely and cost-effective movement of goods.
The market for Transportation Management System is dominated by North America.
North America stands out as the dominant region in the Transportation Management System (TMS) market, and this supremacy is poised to persist due to a convergence of favorable factors. The market for TMS in North America is anticipated to witness significant growth, driven by the impact of government initiatives and regulations that actively promote the expansion of the transportation sector. These initiatives create a conducive environment for the adoption of advanced technologies, with TMS playing a central role in optimizing transportation operations.
The region's rapid growth can be attributed to several key factors, including the escalating global competition, a surge in the adoption of smart and connected machines, and substantial investments in the development of smart cities. The dynamics of the North American transportation landscape are evolving, and TMS is emerging as a crucial component in meeting the challenges posed by these transformations. The region is witnessing a rapid influx of data, particularly from the rise of connected solutions utilizing sensors and RFID tags, a trend particularly pronounced in countries like the United States and Canada.
The Healthcare and Pharmaceutical Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on application the Transportation Management System market is segmented into Consumer Goods and Retail, Parcel and Packages, Fire Station, Hospital, Travel and Tourism, Mining, Others. The Healthcare and Pharmaceutical segment has emerged as a dominant force in the Transportation Management System (TMS) market, and this prominence is further underscored by the critical role TMS plays in addressing the unique challenges faced by healthcare enterprises. The sector has experienced unprecedented demand due to the ongoing pandemic, placing immense pressure on healthcare supply chains. However, the global disruptions in supply chain and logistics have presented formidable obstacles for enterprises striving to meet this heightened demand. Healthcare enterprises are grappling with the complexities of geographically dispersed locations, demanding delivery schedules, coordination specifications, and stringent logistics requirements. These challenges have not only strained internal capabilities but have also put downward pressure on operating margins. In response to these challenges, healthcare enterprises are increasingly turning to TMS solutions as a strategic response to gain control and efficiency in their transportation operations.
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