The new report by Expert Market Research titled, ‘Global Transportation Management Systems Market Growth, Size, Share, Price, Trends, Report and Forecast 2023-2028’, gives in-depth analysis of the global transportation management systems market, assessing the market based on its segments like mode of transportation, deployment mode, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 71 Billion
- Forecast CAGR (2023-2028): 16%
- Forecast Market Size (2026): USD 172.5 Billion
The rising popularity of SaaS-based TMS solutions is a major factor driving the TMS market’s expansion. Furthermore, the market for innovative transportation management solutions is expected to be supported by the need to replace and improve current and traditional transportation management systems. However, the market’s growth is being stifled by a lack of awareness among end-users, as well as high deployment costs. Over the forecast period, the integration of cloud computing and Radio Frequency Identification (RFID) technologies with supply chain management systems would provide healthy opportunities for TMS Market development.
Transportation Management Systems Industry Definition and Major Segments
Supply Chain Management (SCM) and Enterprise Resource Planning (ERP) suites provide transportation management systems (TMS) as a module. With tools including freight audit, payments, route planning and optimization, yard management, load construction, order visibility, and carrier management, it assists various industries and organisations with procurement and freight shipment.
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The mode of transportation can be divided into the following:
The deployment mode can be segmented into:
The transportation management systems market can be broadly categorised based on end-use segments into:
- Retail and E-commerce
- Government Organisations
Based on region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Transportation Management Systems Market Trends
Enterprises use Transportation Management Systems (TMS) as a major technology method to improve collaboration. Additionally, in order to expand their global scope, organisations around the world are constantly focused on reducing the costs associated with their communication methods. As a result, the Transportation Management System market has seen tremendous growth, resulting in the creation of advanced conferencing solutions and services.
Furthermore, with the growing need to cut operating costs, there has been a recent change in the Transportation Management System market from conventional immersive telepresence systems to software solutions. The convergence of automation and functions such as real-time market tracking, combined with shippers’ ability to ensure supply chain optimization and visibility, has ensured that transportation management systems have a broader application base.
The transportation and logistics segment is expected to maintain its dominance over the forecast period, owing to demand from third-party logistics providers, with road transportation service providers being the largest end-users of TMS solutions. North America, led by Europe, records a higher deployment of TMS solutions than other regions, and this trend is expected to continue in the coming years.
Increased use of RFID technology in the supply chain system has fuelled market traction in the area, along with the proliferation of cloud-computing technologies. Vendors of transportation management systems in the area are partnering with RFID technology providers to develop innovative, integrated solutions and, as a result, improve R&D returns.
Key Market Player
The major players in the market are 3Gtms, LLC, BluJay Solutions LLC, Cerasis, C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW), The Descartes Systems Group Inc. , Infor Inc., inet-logistics GmbH, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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