Transportation Management Systems Market is Forecasted to Reach US$ 31.9 Billion in 2028, Says Stratview Research

The global transportation management systems market is projected to witness a growth rate of 19.1% annually from 2023 to 2028 with an anticipated size of US$ 31.9 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global transportation management systems market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 31.9 billion
Growth (CAGR): 19.1% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Transportation Management Systems Market:

The global transportation management systems market is segmented based on mode of transportation type, deployment type, end-use type, and region.

Based on mode of transportation type - The market has been classified into roadways, railways, waterways, and airways. The roadways segment held a more than 40% market share in 2022 and is projected to grow at a robust CAGR in the coming years. One of the most popular ways of transportation worldwide is by road. Given that it can permit loading and unloading at any location, it is regarded as flexible and cost-effective. Several governments, particularly in emerging economies, are simultaneously working to enhance the infrastructure for transport, which is anticipated to fuel demand for logistics services provided by highways and, as a result, the expansion of the roadway segment. Over the projected period, the category of the waterway is anticipated to increase at the fastest rate. The significant investments made by various governments in the implementation of TMS for the effective management of waterways can be credited with the increase.

Based on deployment type - The market has been classified into on-premise and cloud. The on-premise segment held a significant market share in 2022 and is expected to maintain its dominance during the forecast period. Many large manufacturing & distribution enterprises still opt for on-premise TMS due to the data safety requirements, improved control over customization, and convenient access to the server, thereby augmenting the segment growth in the coming years.

Based on end-use type - The market has been classified into retail & e-commerce, manufacturing, logistics, government organizations, and others. The manufacturing segment held a market share of more than 35% in 2022 and is projected to grow at a robust CAGR in the coming years. The requirement for outsourcing inventory and raw materials has expanded because of the rising number of manufacturing facilities in developing nations like Mexico and India.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the North American market held a significant market share of more than 30% in 2022 and is projected to grow at a robust CAGR in the coming years. This growth outlook is majorly attributed to the following-

• Increasing technology developments, a strong e-commerce market in the region, as well as the presence of a large number of industry players, further boost the regional market growth in the following years.

Transportation Management Systems Market Drivers:

Some of the key drivers listed in the report are given below.

• Growing e-commerce industry: The e-commerce industry is growing rapidly and is expected to cross 8 trillion dollars by 2026. This growth of e-commerce has led to an increased demand for TMSs since they help e-commerce businesses track and manage online orders.
• The adoption of disruptive technologies: Cloud computing, big data, blockchain, etc. is driving the growth of the TMS market since such disruptive technologies enable TMS providers to develop many advanced solutions that can help businesses enhance productivity, improve efficiency and reduce cost. These technologies help TMS solutions by providing real-time data, predictive analytics, seamless integration, etc.
• Increasing global trade: With the expansion of international trade, there has been a rise in the volume of goods being transported across borders. According to the World Trade Organization, the global commercial services trade crossed US$ 6.5 trillion in 2022 and is expected to rise in the coming years. As international trade expands, there will be a need for transportation management systems to handle the rising demand.
• Cost optimization: Through data analysis and cargo transportation optimization, TMS can reduce a shipper's freight invoice payment by ~90%. Cerasis is now part of Global Tranz, a leading technology and multimodal third-party logistics solutions provider. Companies are looking for cost-saving options and TMS enables them to reduce transportation and other costs through route optimization, load consolidation, carrier selection, etc.

Top Companies in the Transportation Management Systems Market:

Stratview Research has identified the following companies as the top market players.
• 3Gtms Inc. (Sumeru Equity Partners) (US),
• CargoSmart Ltd (China),
• Descartes Systems Group, Inc. (Canada),
• JDA Software Group, Inc (US),
• Manhattan Associates, Inc. (US),
• MercuryGate International, Inc (Summit Partners) (US),
• Oracle Corporation (US),
• Precision Software, Inc. (QAD Inc.) (US),
• SAP SE (Germany),
• Trimble (US).

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Transportation management systems Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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This release was published on openPR.