Transportation management systems Market
Transportation management system is a logistic platform that enables users to manage and optimize goods transportation operations. Preliminary purpose to use transportation management system is to reduce cost, improve efficiency and customer service, and gain real-time supply chain visibility. Transportation management systems are majorly used by manufacturers, distributors, transport service providers, retailers, and other e-commerce organizations.
Transportation management systems market is anticipated to grow owing to the fueling aviation industry. The commercial airline sector generated revenue of about USD 754 billion in 2017 as compared to USD 709 billion in 2016. The global number of aircraft fleets was 28,492 in 2017 as compared to 27,417 in 2016. Further, in 2016, it was observed that commercial airlines carried about 3.8 billion passengers, an increase of nearly 7% from 2015. This scenario is expected to bulge in the coming years. Thus, it is projected that increasing investments in the aviation industry will propel transportation management systems market during the analysis timeframe.
Transportation management systems help the construction industry to determine heavy machinery location during their transit. Global construction output in 2016 was valued at USD 8.8 trillion as compared to USD 7.9 trillion in 2012. In 2018, the global revenue of construction firms is projected to rise by almost 3.2% as compared to 2.4% in 2017. Further, in November 2017, construction spending in the U.S. alone was USD 1.252 trillion. Thus, it is expected that the surging construction sector will leverage the rise of transportation management systems market during the forecast timeframe. However, complex integration of systems can pose a threat to the growth of the transportation management systems market. Technological advancements in the retail sector will open new avenues for the rise in transportation management systems market in the near future.
Transportation management systems market is segmented into the component, application, mode of transportation, end-use industry, and region. Based on the application, the global transportation management systems market is divided into passenger transportation and goods transportation. Passenger transportation segment is projected to hold a considerable share during the analysis period owing to the growth of the travel & tourism sector. The goods transportation segment is projected to grow at a significant rate due to the rising investments in the retail sector.
North America is anticipated to hold a substantial share in the global transportation management systems market during the analysis period. This share is attributed to the initiatives taken by the government to invest in the transportation sector. Europe is expected to make noteworthy contributions in the rise of transportation management systems market owing to the rising investments in the travel & tourism sector. The UK, France, and Germany, among others, are projected to fuel the growth of the transportation management systems market during the forecast period.
Major players in the transportation management systems market are Oracle Corporation, SAP SE, TMW Systems, Inc., Efkon AG, Mercurygate International, Inc., CTSI-Global, JDA Software, Inc., Manhattan Associates, Blujay Solutions, and Descartes Systems Group Inc., among others.