Press release
Global Transportation Management Systems Market Report 2024: Trends, Opportunities, and Forecast
Transportation Management Systems Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $20 billion In 2028 At A CAGR Of 13.6% :
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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Transportation Management Systems Market Major Segments
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
Key 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.
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Prominent Trend - Unveiling WrxFlo's Next-Gen Tms Solution
Major companies operating in the transportation management system market are focused on developing innovative software such as Transportation Management System (TMS) software to increase their profitability in the market. Transportation Management System (TMS) software optimizes logistics by streamlining the planning, execution, and optimization of goods movement, aiming to enhance efficiency and visibility in transportation operations. For instance, in December 2022, WrxFlo, an Ireland-based software company launched WrxFlo Transport Management System. WrxFlo's Transport Management System optimizes supply chain processes, enhancing warehouse efficiency and cutting transportation expenses. This cloud-based solution ensures real-time data access for agile decision-making, curbing inefficiencies. The WrxFlo 3PL solution supports third-party logistics management, aiming to boost sales, lower risks, and heighten operational efficiency by seamlessly integrating with existing business systems. Through secure cloud storage, it facilitates streamlined freight management and superior logistics planning and execution.
Transportation Management Systems Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the transportation management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the transportation management systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Transportation Management Systems Market Report Structure
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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