Newark, July 10, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 11.0 billion transportation management systems market will reach USD 44.5 billion by 2032. Digital transformation has shown to be a competitive driver for boosting a company's ROI in the transportation sector. So, from connected warehouses to cutting-edge autonomous last-mile delivery systems, digital innovation has enhanced the significance and prominence of TMS, giving the venerable sector an exciting area to drive change for the benefit of society. The continuing digital revolution of the transportation industry, which lowers the cost of many business activities and boosts innovation to increase production efficiency, is anticipated to be the main driver of the TMS market.
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North America to account for the largest market size during the forecast period.
North America is expected to have the essential transportation management systems market share. Because significant market participants in the region's countries are becoming more active. For instance, FreightWaves declared that their TRAC truckload spot pricing had been implemented by OmnisTMS, a transportation management system 'built for brokers by brokers. Transportation management for the current supply chain is known as Omnis TMS. Everything one needs is readily available owing to their sleek, modern interface, created with speed and usefulness in mind. Through its partnership with SONAR, the firm is happy to provide its clients with cutting-edge freight information to help them make smarter purchasing decisions.
The on-premise segment dominated the market with the most significant revenue of USD 6.03 billion.
The on-premise segment dominated the market with the most significant revenue of USD 6.03 billion. Several large manufacturing and distribution firms still use on-premise transportation management systems due to the strict requirements for data security, the ease of access to the server, and the superior control over customising.
The roadways segment dominated the market with the most significant revenue of USD 4.4 billion.
The roadways segment dominated the market with the most significant revenue of USD 4.4 billion. One of the most popular forms of transportation worldwide is road travel. It is considered to be more affordable than other forms of transportation. It is also economical and adaptable because it can load and unload anywhere. Many governments, particularly in emerging economies, are presently putting initiatives into place aimed at modernising their transportation infrastructure. This is expected to increase demand for logistical services delivered by roads and, as a result, support the expansion of the highways market.
The manufacturing segment dominated the market with the most significant revenue of USD 4.18 billion.
The manufacturing segment dominated the market with the most significant revenue of USD 4.18 billion. The outsourcing of inventories and manufacturing raw materials has increased due to the rising number of manufacturing facilities in developing nations like Mexico and India. For instance, the 'Make in India' programme of the Indian government emphasises expanding the domestic manufacturing sector and could increase local production. Such initiatives benefit the industrial sector's expansion during the forecast period.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Forecast Period 2023 to 2032 CAGR | 15% |
| 2032 Value Projection | USD 44.5 Billion |
| Base Year | 2022 |
| Metaverse Market Size in 2022 | USD 11.0 Billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 236 |
| Segments covered | Deployment, Mode of Transportation, End-User |
Market Dynamics:
Drivers: Expansion of E-Commerce
Along with the expansion of the E-commerce trend, the use of transportation management systems in the transportation and logistics industry is rising. The E-commerce industry can benefit from a transportation management system by using it to find the most affordable shipping options, which is another factor driving the market growth for these systems.
Restraint: Security Concerns
The market expansion for transport management systems is predicted to be hindered in the target period by the rise in data security concerns.
Opportunity: Technological Development
The transportation management systems market is anticipated to expand due to ongoing technological development in the transportation and logistics industry. The transportation industry is seeing growing technology convergence, which has created previously unthinkable opportunities for operational efficiency, sustainability, creative business models, and improved customer experiences. More innovative and efficient transport operations result from advanced technologies like the Internet of Things (IoT), big data, and artificial intelligence (AI) and their predictive capacities.
Challenge: Slow Adoption
However, the slow adoption of TMS solutions may further impede the market's expansion for transport management systems shortly due to higher capital expenditures.
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Some of the major players operating in the transportation management systems market are:
● 3GTMS
● BluJay Solutions Ltd.
● C.H. Robinson Worldwide, Inc.
● Cerasis, Inc.
● inet-logistics GmbH
● Infor Inc.
● International Business Machines Corp.
● JDA Software Group, Inc.
● Manhattan Associates
● MercuryGate International, Inc.
● Oracle Corp.
Key Segments cover in the market:
By Deployment:
● On-premises
● Cloud
By Mode Of Transportation:
● Roadways
● Railways
● Waterways
● Airways
By End-User:
● Retail & E-commerce
● Manufacturing
● Logistics
● Government Organizations
● Others
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About the report:
The global transportation management systems market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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