Growing Awareness about of Transportation Management Systems Market Growth of CAGR +15% By Top Players Travelers Insurance, Allstate, Berkshire Insurance Group

A transportation management system (TMS) is a subset of supply chain management (SCM) that deals with the planning, execution and optimization of the physical movements of goods. In simpler terms, it's a logistics platform that enables users to manage and optimize the daily operations of their transportation fleets. TMS acts as a logistics management "hub" to handle route planning and optimization. Fare audit and payment; Custom Visibility;
Carrier management;

It provides other important features that help carriers to digitally manage and optimize their transportation network. Historically offered as an on-premises software application, TMS has moved to the cloud, delivering real-time, always-on collaboration for shippers, carriers, trading partners and customers.

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According to the report, the global transportation management system market is expected to reach $ 11.4 billion in 2019, with an annual average growth rate of +15% from 2019 to 2023, reaching $ 232.4 billion. The market for transportation management systems is expected to increase due to increased trade between countries. Global exports of products manufactured in 2016 were valued at $ 11 trillion in 2006 compared to $ 8 trillion. Global exports of agricultural products increased an average of 5% over the same period

Major key participants 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.

The global transportation management systems market is fragmented as per mode of transportation into roadways, railways, airways, and waterways. Airways segment is expected to hold a noteworthy share in the transportation management systems market during the estimated timeframe. The share is attributed to the rising investments in the aviation sector. Further, the transportation management systems market is segmented on the basis of end-user industry into retail, travel & tourism, construction & heavy equipment, automotive, government transportation, consumer electronics, and others

Global Transportation Management Systems Market Segmentation
• By Application
o Electronics and Electrical
o Industrial
o Food & Beverage
o Retail
o Transportation and Logistics
o Others

• By Detection
o On-Premise
o On-Demand

• By Region
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o Latin America

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In various applications, more than 67% of the total market share in 2016 was in the transportation and logistics sectors. This trend is expected to continue during the forecast period due to increased demand from third-party logistics companies

The market for transportation management systems is expected to increase due to increased trade between countries. Global exports of products manufactured in 2016 were valued at $ 11 trillion in 2006 compared to $ 8 trillion. Global exports of agricultural products increased an average of 5% over the same period

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Global transport management systems are segmented by road, rail, air and waterway transport. The Airways segment is expected to maintain a notable share of the transportation management system market during the forecast period. The proportion is due to increased investment in the aviation sector. In addition, the transportation management systems market is divided into retail, travel and tourism, construction and heavy equipment, automotive, government transportation, consumer electronics and other sectors based on the end user industry. The retail sector is expected to account for a significant portion of the analysis period

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