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Transportation Management System Market Share, Growth Analysis And Revenue Forecast 2033
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The Business Research Company presents an extensive market research report on the Transportation Management System Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The transportation management system market size has grown rapidly in recent years. It will grow from $11.37 billion in 2023 to $13.39 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to increased complexity in logistics, regulatory compliance, rise in fuel costs, demand for cost efficiency, customer demand for speedy deliveries, integration with other systems..
The transportation management system market size is expected to see rapid growth in the next few years. It will grow to $24.31 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to emergence of autonomous vehicles, demand for sustainable practices, increasing complexity in last-mile deliver, growing importance of data analytics, expansion of cross-border trade, focus on scalability.. Major trends in the forecast period include adoption of cloud-based tms, real-time visibility and tracking, collaborative platforms and ecosystems, mobile tms applications, automated and autonomous vehicles in tms, globalization and multi-modal transport, subscription-based tms models..
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Key Market Players:
Major companies operating in the transportation management system market report are Oracle Corporation, SAP SE, C.H. Robinson Worldwide Inc., Oracle Corporation, SAP SE, Trimble Transportation Enterprise Solutions, 3Gtms Inc., Alpega Group, Blue Yonder Group Inc., BluJay Solutions Ltd., CargoSmart Limited, Descartes Systems Group Inc., E2open LLC, FourKites Inc., Generix Group, GlobalTranz Enterprises Inc., InMotion Global Inc., JDA Software Group Inc., LeanLogistics Inc., Loadsmart Inc., Logistically Inc., Manhattan Associates Inc., MercuryGate International Inc., MP Objects B.V., Omnitracs LLC, One Network Enterprises Inc., project44 Inc., Revenova Limited, ShipBob Inc., ShipCaddie, ShipEdge LLC
Market Drivers:
The adoption of cloud and IoT applications is expected to drive the growth of the transportation management system market. APIs and other interfaces for pushing and extracting data to and from IoT sensor devices and downstream applications are included in IoT and cloud applications. The Internet of Things (IoT) delivers highly integrated and simplified transportation and warehouse management solutions in the transport, logistics, and fleet management sectors, connecting in-vehicle sensors and other cohesive digital devices through the network. For instance, in 2022, according to a Finoit Inc., a US-based IT services firm report, many transportation and logistics organizations implementing RFID today are achieving nearly 100% shipping and receiving accuracy, 99.5 % inventory accuracy, 30% faster order processing, and 30% labour cost reduction. Therefore, the adoption of cloud and IoT applications will propel the transportation management system market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/transportation-management-system-global-market-report
The transportation management system market covered in this report is segmented -
1) By Solution Type: Planning And Execution, Order Management, Audit, Payment, And Claims, Reporting And Analytics, Routing And Tracking
2) By Deployment: On-Premise, Cloud
3) By Transportation Mode: Roadways, Railways, Airways, Maritime
4) By Industry Vertical: Retail, Healthcare And Pharmaceutical, Manufacturing, Energy And Utilities, Government Sector, Other Industry Verticals
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
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