Freight Transport Management Market is expected to reach USD 41.63 billion by 2023 with Dominant Vendors - JDA SOFTWARE, MANHATTAN ASSOCIATES, CTSI GLOBAL, ACCENTURE PLC, DSV A/S, HIGH JUMP SOFTWARE, GEODIS, amongst others.

Market Analysis:

North America to account for the Highest Market Share
With globalization, owing to the growing digitalization and increasing adoption of Internet of Things (IoT) by various industries, the North American freight transport management solution market picked up momentum, especially in the United States.

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Improved efficiency in the movement of freight is a critical aspect of any country’s economy. The demand for goods and services is increasing, with the increase in population and globalization. This increased demand has paved the way for the current trade market, in which, freight transportation is a critical aspect. Therefore, many shipping companies, to overcome various environmental concerns and security aspects of their operations, are opting for freight transport management solutions. Moreover, on-time delivery is a critical factor to be considered for the success of any logistics industry. This consideration leads to the demand for innovation in the management and transportation of freight, which can be achieved by the adoption of efficient freight transport management solutions. The integration of Internet of Things devices has witnessed steady growth in this market, leading to enhanced data collection and communication with back-end systems. Moreover, the cost effectiveness of cloud-based models is further expected to drive the demand for this mode.

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Market Segments:
Freight Transport Management Market is segmented by:
1. Solution: Freight Transportation Cost Management, Freight Security and Monitoring System, Freight Mobility Solution, Warehouse Management System, Freight 3PL Solutions, Other Solutions
2. Deployment: Cloud, On-premise
3. Mode of Transport: Rail Freight, Road Freight, Waterborne Freight, Air Freight
4. End User: Aerospace & Defense, Automotive, Oil & Gas, Consumer & Retail, Energy & Power, Other End Users
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• August 2017 - WiseTech Global Limited announced the acquisition of CMS Transport Systems Pty Ltd, a provider of road transport and logistics management systems across Australia and New Zealand.
• May 2017 - Supply Vision, a TMS software provider, announced the launch of Supply Vision 3.0, the newest iteration cloud-based TMS software.

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