29-Mar-2022 | Zion Market Research
The global transportation management systems market was worth around USD 8162.5 million in 2021 and is estimated to grow to about USD 21811.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 17.8 percent over the forecast period. The report analyzes the transportation management systems market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the transportation management systems market.
Transportation Management Systems are crucial for companies to efficiently manage their operational functionality for transportation fleets, carriers, effective shipment tracking, route optimization, and other factors. The rising proliferation of technologies such as Internet of Things (IoT), machine learning, machine vision, big data, Artificial Intelligence (AI), etc., has also boosted the transportation management systems market potential.
Transportation management systems market growth will be driven by factors such as the establishment of smart cities, rapid digitization, high technological penetration, presence of internet infrastructure, rising investments from governments, increasing demand for sustainability, etc. over the forecast period.
High costs associated with the deployment and adoption of transportation management systems are expected to restrain the transportation management systems market potential on a global scale. Large enterprises with high investment capacity are expected to be major users for transportation management systems over the forecast period. These high costs are expected to restrain adoption in SMEs through 2028.
Increasing concerns about data privacy in these systems is also anticipated to restrain market potential to a certain extent. Increasing cybercrime is also expected to further have a constraining effect on the adoption of transportation management systems through the forecast period.
Browse the full “Transportation management systems Market By Component (Solution, Planning and Execution, Order Management, Audit, Payment and Claims, Reporting and Analytics, Routing and Tracking Services, consulting, Integration and Implementation, Support and Maintenance), By Transportation Mode (Roadways, Railways, Airways, Maritime), By Application (Retail, Healthcare and Pharmaceutical, Manufacturing, Transportation and Logistics, Energy and Utilities, Government, Others* (include construction and agriculture)), By Deployment Type (On-premises, Cloud), By Organization Size (Large Enterprises, SMEs) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/transportation-management-system-market
The pandemic of 2020 led to the imposition of lockdowns across the world and saw the world with minimal transportation activity in order to curb the spread of coronavirus infections on and subdue the pandemic situation. This led to a major negative growth trend for transportation management systems market in 2020. The market is expected to make an exceptional recovery in the post-pandemic era owing to high transportation activity and rising technological proliferation
The global transportation management systems market is segregated based on component, transportation mode, deployment type, end user industry, organization size, application, and region. Based on component, the transportation management systems market is segmented into solution, planning, and execution, order management, audit, payment and claims, reporting and analytics, routing and tracking services, consulting, integration and implementation, support, and maintenance. The consulting sub-segment is anticipated to have a major dominant outlook over the forecast period owing to the rising complexity of transportation management systems that makes it essential to have a consulting service to effectively understand and manage transportation management systems for utmost productivity
North America holds a major market share and is projected to be the dominant region through the forecast period. The transportation management systems market growth in this region will majorly be driven by the presence of key transportation management systems companies and rapid technological advancements. The presence of a highly lucrative business landscape with a high spending capacity is expected to majorly boost transportation management systems demand in this region through 2028. Economies of the United States and Canada are anticipated to boost transportation management systems market potential in this region.
Key players functioning in the global transportation management systems market include Oracle (US), SAP (US), Manhattan Associates (US), C.H. Robinson (US), Trimble (US), Blujay Solutions (US), MercuryGate International (US), Blue Yonder (US), Transplace (US), Descartes Systems Group (Canada), E2open (US), Alpega Group (Belgium), 3Gtms (US), 3T Logistics & Technology Group (UK), Globaltranz (US), InMotion Global (US), vTradEx (China), MP Objects (US), Logistically (US), One Network Enterprises (US), Elemica (US), Tailwind Transportation Software (Canada), IntelliTrans (US), Allotrac (Australia), Revenova (US), Fretron (India), Ratelinx (US), Tracx Systems (Canada), WiseTech Global (Australia), Princeton TMX (US), CTSI Global (US),Generix Group (France), Unifaun (Sweden), Supplystack (Belgium), Efreightsolutions (US), Ultraship TMS (US) and Infor (US).
Global transportation management systems market is segmented as follows:
By Transportation mode
By Deployment Type
By organization size
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