Transportation Management System Market Solution Type (Planning & Execution, Order Management, Audit, Payment,& Claims,Global Opportunity Analysis and Industry Forecast, 2021–2027

The global transportation management system market was valued at $5,467 million in 2019, and is projected to reach $11,367 million by 2027, registering a CAGR of 9.6% from 2020 to 2027. Transportation management system (TMS) is a platform designed to streamline the transportation process, a subpart of the supply chain. It deals with monitoring, organizing, managing, and handling any matter related to the transportation of products right from placing the order until the final delivery. The popularity of the TMS platform is continuously growing. According to recent studies, almost 35% of the businesses are now using the platform for managing their transportation network. With increasing complexities of logistics and transportation, as the business grows, the need for transportation management systems can never be exaggerated. Technically, TMS enables better transactional and communication system to allow users to leverage from vast real-time data, make easier decisions, and plan & strategize for optimal transportation solutions.

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By component, the global transportation management system market was dominated by the solution segment in 2019 as solutions help in optimizing the overall supply chain process, thereby resulting in higher profit margins and growth. Digital transformation in the transportation industry has proven to encourage competition to improve any company’s ROI. Therefore, the introduction of digital from connected warehouses to new mileage delivery services ultimately increases the value and presence of TMS, transforming the old industry into an exciting place to drive change in community development. However, the services segment is expected to witness highest growth, owing to reduced time and costs associated with optimization of systems in the initial phase of deployment. Most cloud-based transportation management systems are sold as software-as-a-service (SaaS). This means that users subscribe to the technology on a monthly or annual basis instead of purchasing the technology outright. This is more cost-effective and users are always on the most recent version of the software. In addition, advancement in technologies, such as IoT and cloud-based services, provides opportunities for the overall growth of the market.

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North America dominates the transportation management system market as the TMS industry is one of the major sectors in the North American landscape, providing the largest revenue worldwide due to large number of players and industry columns. The U.S. and Canada are cooperating for a greater share of the transportation management system market. In addition, Canada is projected to be the fastest growing sector in the transportation management system market. North American countries continue to be more competitive and focused on consumers, raising expectations for a better transportation management system. The transportation sector is a major factor in the supply chain as it relies solely on transportation professionals to achieve their financial goals, customer delivery commitments, and their profits. Asia-Pacific is expected to achieve a rapid growth rate due to growing international trade, especially in emerging economies such as China and India. In addition, in the Asia-Pacific region, smartphone penetration is increasing with non-renewable revenue. These factors contribute to the development of e-commerce in these areas. Therefore, a proper transport management system is needed to cater to the maximum number of customers.The report focuses on the growth prospects, restraints, and opportunities of the market. The study provides Porter’s five forces analysis of the market to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers.

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Key Benefits For Stakeholders

The study provides an in-depth analysis of the global transportation management system market along with current trends and future estimations to elucidate imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the market size is provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global transportation management system market for the period 2020–2027 is provided to determine the market potential.

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