Dublin, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The "Global Transportation Management System (TMS) Market by Offering (Solutions, Services), Transportation Mode (Roadways, Railways, Airways, Maritime), End-user, Solutions (Consulting, Implementation & Integration), Services, Vertical & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global transportation management system (TMS) market is on the cusp of exponential growth, poised to surge from USD 13.5 billion in 2023 to an astounding USD 33.3 billion by 2028, at an impressive Compound Annual Growth Rate (CAGR) of 19.7%
TMS proves to be a game-changer for businesses, empowering them to optimize their transportation processes through efficient route planning, load consolidation, carrier selection, and freight auditing. With the promise of significant cost savings through improved operational efficiency, reduced empty miles, and minimized transportation-related expenses, the TMS market is anticipated to witness unprecedented expansion.
This comprehensive market study delves into various segments of the transportation management system market, estimating its potential growth across offerings, transportation modes, solutions, services, verticals, end-users, and regions.
Additionally, the study includes a rigorous competitive analysis of key market players, their company profiles, noteworthy product and business offerings, recent developments, and key market strategies, providing valuable insights for industry stakeholders.
Based on services, the consulting segment is expected to grow with the highest CAGR during the forecast period
In the transportation management system market by services, consulting segment is expected to grow with the highest CAGR during the forecast period. The best performance from internal workers can be ensured at a reasonable price with the help of consulting services.
Additionally, it's crucial for end-users because some businesses lack the knowledge necessary to comprehend the complexity of TMS configuration. These services play an important role in the implementation of TMS solutions. Consulting service providers guide companies in the deployment of TMS that help address specific business-process requirements most feasibly.
By region, North America is expected to hold the largest market size during the forecast period
The market for transport management systems is predicted to be led by North America, which is also expected to account for the biggest market size during the forecast period. Improvements in machine-to-machine (M2M), mobile, and cloud technologies in transportation are the main causes of increased business process efficiency.
As major corporations and small and medium-sized businesses concentrate on creating cutting-edge TMS solutions combined with technical breakthroughs like analytics, AL, and ML, North America is expected to promote market growth.
Additionally, due to its superior IT infrastructure and early adoption of cloud and mobile technologies, North America is able to minimise operational costs across all industries.
Competitive landscape
In-depth assessment of market shares, growth strategies and service offerings of leading players like Oracle (US), SAP (Germany), Manhattan Associates (US), C.H. Robinson (US), Trimble (US), WiseTech Global (Australia), and Descartes (Canada).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 320 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $13.5 Billion |
| Forecasted Market Value (USD) by 2028 | $33.3 Billion |
| Compound Annual Growth Rate | 19.7% |
| Regions Covered | Global |
Premium Insights
- Increasing Demand for Transportation Management Systems to Tackle High Demand from e-Commerce Sector
- Retail Segment and US to Account for Large Shares in North American Transportation Management System Market in 2023
- Roadways Segment and China to Account for Large Shares in Asia-Pacific Transportation Management System Market in 2023
Market Dynamics
Drivers
- Cloud-based SaaS Solutions to Drive Transportation Management System Market
- Mergers & Acquisitions of Top-Tier TMS Product Players with Startup Solutions
- Strengthening Bilateral Trade Relations Between Various Countries and Growth in Global Trade
- Technological Advancements in Transportation and Logistics Industry
- Exponential Growth in Ecommerce Industry
- Need to Replace and Update Existing Conventional Transportation Management Systems
Restraints
- Growing Concerns Over Data Security
- Inaccuracies in Data Sets
Opportunities
- Evolving 5G to Transform Transportation Management System
- Autonomous and Connected Vehicles to Transform Transportation and Logistics Industry
- Rising Adoption of Cloud-based Technology and Industry 4.0
Challenges
- Slow Adoption of TMS Solutions due to High Capital Investment
- Lack of Awareness of Benefits of TMS Among End-users
Industry Trends
Transportation Management System Roadmap Till 2030
- Short-Term Roadmap (2023-2025)
- Mid-Term Roadmap (2026-2028)
- Long-Term Roadmap (2029-2030)
Ecosystem Analysis
- Transportation Management System Solution/Service Providers
- Transportation Management System Integrators
- Transportation Management System Freight Forwarders
- Transportation Management System Technology Enablers
TMS Integrations
- WMS-TMS Integration
- ERP-TMS Integration
- e-Commerce TMS Integration
Technology Analysis
- Adjacent Technologies
- Big Data and Analytics
- Artificial Intelligence & Machine Learning
- Blockchain
- 5G
- Internet of Things
- Related Technologies
- Cloud Computing
- Geospatial Technology
Case Study Analysis
- Case Study 1: Unilever Cut Transport Costs with Implementation of Oracle Solutions
- Case Study 2: Xiwei Built Efficient Transportation and Delivery Platform with SAP Transportation Management
- Case Study 3: Implementation of Manhattan TMS Solution Resulted in More Efficiency
- Case Study 4: Celestica Deployed MercuryGate TMS Solution to Reduce Global Transportation Costs
- Case Study 5: Brown Trucking Selected Truckmate TMS by Trimble to Get Crucial Data for Its Operations
- Case Study 6: Avery Dennison Adopted Transplace TMS to Save Cost and Simplify US and Mexico Customs Compliance
- Case Study 7: Crowley Relies on 3GTMS to Manage Defense Dept. Contract Without Missing Deadline
Company Profiles
Major Players
- Oracle
- SAP
- Manhattan Associates
- C.H. Robinson
- Trimble
- WiseTech Global
- Descartes
- E2Open
- Generix Group
- MercuryGate International
- Blue Yonder
- Uber Freight
- Alpega Group
- Worldwide Express
- Infor
- Kinaxis
Startups/SMEs
- 3GTMS
- Shipwell
- 3T Logistics & Technology Group
- RateLinx
- oTMS
- nShift
- Bluerock Logistics
- Elemica
- Tesisquare
- DDS Logistics
- vTradEx
- Shiptify
- GlobalTranz
- InMotion Global
- Logistically
- One Network Enterprises
- IntelliTrans
- Allotrac
- Revenova
- Princeton TMX
- CTSI Global
- PCS Software
For more information about this report visit https://www.researchandmarkets.com/r/eywwzq
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