New York, United States , May 16, 2023 (GLOBE NEWSWIRE) -- The Global Transportation Management Systems Market Size is to grow from USD 11.34 billion in 2022 to USD 51.78 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period.
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Transportation Management Systems (TMS) are software solutions that streamline and optimize the management of transportation operations for businesses. TMS provide functionalities such as freight management, carrier selection, shipment tracking, route planning, and reporting, which help businesses to efficiently manage their transportation processes, reduce costs, improve customer service, and enhance visibility across the supply chain. TMS can be implemented as standalone systems or integrated into broader supply chain management platforms, providing end-to-end visibility and control over transportation activities, from procurement to delivery. TMS are widely used by shippers, carriers, and logistics service providers to improve transportation efficiency and effectiveness in today's complex and competitive global logistics landscape.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on ''Global Transportation Management Systems Market Size, Share, and COVID-19 Impact Analysis By Deployment (On-premise and Cloud), By Mode of transportation (Roadways, Railways, Waterways, and Airways), By End-Use (Retail & E-commerce, Manufacturing, Logistic, Government Organizations, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032.'' Get Detailed Report Description Here
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The cloud segment is expected to grow at a higher CAGR of 18.2% over the forecast period
Based on the deployment type, the global transportation management systems market is segmented into on-premise and cloud. The cloud segment is expected to be the fastest-growing segment in the transportation management systems market during the forecast period. Cloud-based TMS solutions offer several advantages, such as scalability, flexibility, ease of implementation, and cost-effectiveness, compared to traditional on-premise solutions. Cloud-based TMS can be accessed remotely from anywhere, enabling real-time visibility and collaboration among stakeholders. The pay-as-you-go pricing model of cloud-based TMS eliminates the need for upfront investments in hardware and software, making it more attractive to small and medium-sized enterprises.
The manufacturing segment dominated the market with around 35.6% revenue share in 2022
Based on the end-use, the global transportation management systems market is segmented retail & e-commerce, manufacturing, logistic, government organizations, and others. The manufacturing category accounted for the largest share, around 35.6%, in the transportation management systems market in 2022, due to the critical role of transportation in the supply chain operations of manufacturing industries. Efficient transportation management is essential for manufacturers to ensure timely delivery of raw materials, components, and finished goods to various locations, such as distribution centers, retailers, and end customers. TMS solutions are used by manufacturers to optimize transportation routes, reduce transportation costs, streamline carrier management, and enhance shipment visibility, which ultimately helps in improving supply chain efficiency and customer satisfaction.
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Asia-Pacific is expected to grow at a higher CAGR of 18.7% over the forecast period
Based on region, the Asia-Pacific region is projected to experience the fastest growth in the transportation management systems (TMS) market due to several factors. The region's expanding population, rising disposable income, and increasing urbanization are driving the demand for goods, resulting in a growing need for efficient transportation and logistics operations. Moreover, the rapid growth of e-commerce, particularly in countries like China and India, is fueling the demand for TMS to streamline supply chain operations, enhance visibility, and improve customer service. Additionally, the increasing focus on industrial automation, adoption of advanced technologies, and the emergence of local TMS providers are contributing to the expected fast-paced growth of the TMS market in this region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global transportation management systems market include 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., SAP SE, The Descartes Systems Group Inc., and Trimble Transportation Enterprise Solutions, Inc.
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