Press release
Streamlining Transport: Transportation Management Systems Market Shares Size, Share, and Key Growth Strategies || Oracle Corporation, SAP SE, C.H. Robinson Worldwide Inc., GlobalTranz Enterprises Inc
Transportation Management Systems Market
The Business Research Company offers in-depth market insights through Transportation Management Systems Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The transportation management systems market size has grown rapidly in recent years. It will grow from $10.53 billion in 2023 to $12.01 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to globalization of supply chains, rise in e-commerce, regulatory compliance, demand for cost efficiency, focus on customer satisfaction.
The transportation management systems market size is expected to see rapid growth in the next few years. It will grow to $20 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to complexity of supply chain networks, sustainability and green initiatives, evolving consumer expectations, rise of last-mile delivery solutions. Major trends in the forecast period include demand for cloud-based solutions, dynamic route planning and optimization, integration of Internet of things (IoT) sensors, emphasis on user-friendly interfaces and mobile applications.
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Market Segmentation:
The transportation management system market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment: On-premise, Cloud
3) By Mode of Transportation: Roadways, Railways, Waterways, Airways
4) By Industry Vertical: Retail, Healthcare and Pharmaceutical, Manufacturing, Energy and Utilities, Government Sector, Other Industry Verticals
Major Driver - Impact Of Cloud And IOT In Transportation Management Systems
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. 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% labor cost reduction. Therefore, the adoption of cloud and IoT applications will propel the transportation management system market.
Competitive Landscape:
Major companies operating in the transportation management systems market report are Oracle Corporation, SAP SE, C.H. Robinson Worldwide Inc., GlobalTranz Enterprises Inc., Trimble Inc., Blue Yonder Group Inc., Manhattan Associates Inc., JDA Software Group Inc., E2open LLC, The Descartes Systems Group Inc., Transporeon Group, Transplace LLC, BluJay Solutions Inc., Generix Group SA, Parade Inc., Alpega Group, project44 Inc., Southern Motor Carriers Rate Conference Inc., Shippo Inc., LeanLogistics Inc., TMW Systems Inc., Unifaun AB, UltraShipTMS, vTradEx International Ltd., Shipwell Inc., 3GTMS Inc., InMotion Global Inc., MP Objects B.V., ShipStation, Logistically Inc., Revenova LLC, MercuryGate International Inc., Supplystack NV
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Top Trend - Rise Of Intelligent Transport Management Solutions
Major companies operating in the transportation management system market are focused on developing intelligent solutions to increase their profitability in the market. Intelligent solutions in TMS leverage advanced technologies and data analytics to enhance the efficiency, visibility, and decision-making processes within transportation operations. For instance, in September 2023, 3SC Solutions, an India-based data analytics company launched Intelligent Transport Management Solution (iTMS). This solution synergizes AI and data analytics, optimizing the entire transportation cycle. iTMS employs AI to analyze extensive data, enabling precise demand predictions and informed decision-making for planners. This advanced platform integrates various facets of transport management, enhancing efficiency and providing a holistic solution for logistics and supply chain management. It incorporates automated order acquisition, AI-driven shipment planning, real-time execution orchestration, and advanced tools for contract management and financial auditing in global logistics.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Transportation Management Systems Market Characteristics
3. Transportation Management Systems Market Trends And Strategies
4. Transportation Management Systems Market - Macro Economic Scenario
5. Transportation Management Systems Market Size And Growth
…..
27. Transportation Management Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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