Press release
Transportation Management System Market Opportunity Assessment To Reveal Lucrative Growth Prospects for Players : Fact.MR
The global transportation management system market is expected to accumulate a market value of US$ 6.9 Bn in 2022. The industry will register a staggering double-digit CAGR of 10.7%. The sales of transportation system are expected to surpass US$ 19.1 Bn through the forecast period 2022-2032.Transportation management solutions are expected generate higher revenue over the coming years, accounting for an absolute dollar opportunity of nearly US$ 8.2 Bn through 2032.
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Key Segments Covered
By Component :
Transportation Management Solutions
Planning and Execution Solutions
Order Management Solutions
Audit, Payment and Claims Solutions
Reporting and Analytics Solutions
Routing and Tracking Solutions
Transportation Management Services
Consulting Services
Integration and Implementation Services
Support and Maintenance Services
By Transportation Mode :
Roadways-based Transportation Management Systems
Railways-based Transportation Management Systems
Airways-based Transportation Management Systems
Maritime-based Transportation Management Systems
By Deployment :
On-premise Deployment of Transportation Management Systems
Cloud Deployment of Transportation Management Systems
By Vertical :
Manufacturing
Retail
Healthcare and Pharmaceuticals
Transportation and Logistics
Energy and Utilities
Government
Other Verticals
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Competitive Landscape
According to the market research analysis, order wins have been the prominent development in the transportation management system (TMS) market in recent years.
In July 2021, GEFCO, an integrated logistics expert and provider of automotive logistics, selected the cloud-based transportation management system of Blue Yonder. It is oriented to bring about digital transformation to tackle complex logistics challenges.
In June 2021, Hy-Vee Inc., a retail store chain, deployed Manahattan Associate's transportation management system.
Quick Deliveries Making Airway Transportation Favourable?
There has been significant surge in the requirement for fast international shipments. Quick order deliveries require air transportation. During COVID-19, when airlines witnessed significant losses owing to restricted cross-border movements, air freight made significant strides in carrying medical emergency products across countries.
Over the years to come, transportation management system revenue through airways is expected to increase at nearly 11% CAGR.
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Presence of Key Industry Players Bolstering Demand for Transportation Management Systems in North America?
North America has large corporations providing transportation management solutions, such as Oracle and C.H. Robinson. Along with these, it also has a large number of small players and start-ups.
Both, the U.S. and Canada feature amongst the largest consumers, and they are also exporters of several products, which makes their manufacturing robust. This consequently creates high demand for automation solutions in the entire supply chain, thus necessitating the use of transportation management systems.
Thus, with an absolute dollar opportunity of US$ 4 Bn, North America is set to remain the most lucrative region for transportation management systems.
Source - https://www.factmr.com/report/transportation-management-system-market
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