Global Transportation Management System Market Reach to USD 11.36 Billion by 2027|Top Players -Trimble, 3GTMS & E2Open

Transportation Management System Market

Transportation Management System Market

Growing use of connected devices, data-driven software & cloud-based platforms for several applications has raised companies adopting software like TMS.

PORTLAND, PORTLAND, OR, UNITED STATE, July 6, 2023/ -- Allied Market Research published a new report, titled, " The Global Transportation Management System Market Reach to USD 11.36 Billion by 2027 | Top Players - Trimble, 3GTMS & E2Open." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global transportation management system market was valued at USD 5,467 million in 2019, and is projected to reach USD 11,367 million by 2027, registering a CAGR of 9.6% from 2020 to 2027.

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Exponential growth within the e-commerce industry and technological advancements across the transportation and logistics sectors have boosted the growth of the global transportation management system market. However, the data security concern hinders the market growth. On the contrary, advent of autonomous and connected vehicles, rise in adoption of cloud technology, and arrival of Industry 4.0 are expected to create opportunities for the market players in the future.

The global transportation management system market is primarily segmented on the basis of component, solution type, deployment model, transportation mode, and industry vertical. Based on component, the market is bifurcated into solution and services. By solution type, it is segmented into planning & execution, order management, audit, payment, & claims, reporting & analytics, and routing & tracking. Based on deployment, it is divided into on-premise and cloud. On the basis of transportation mode, it is fragmented into roadways, railways, airways, and maritime. Finally, based on industry vertical, the market is classified into retail, healthcare & pharmaceutical, manufacturing, transportation & logistics, energy & utilities, government, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By component, the solution segment held the lion's share in 2019, contributing to nearly three-fourths of the global transportation management system market. Moreover, the segment is estimated to register the highest CAGR of 9.7% during the forecast period, as the introduction of digital solutions from connected warehouses to new mileage delivery services increase the value and presence of TMS.

By industry vertical, the manufacturing segment held the largest share in 2019, accounting for nearly two-fifths of the global transportation management system market, due to growing significance of tracking and maintenance of goods and raw materials and cost-effective operations. However, the healthcare and pharmaceutical segment is expected to manifest the highest CAGR of 10.2% during the forecast period, as healthcare is emerging as a key industry, as traceability, visibility, and shipping controls contributing toward growth of the TMS market in pharmacy sector.

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By region, the market across North America dominated in 2019, contributing to nearly two-fifths of the market, as the market is driven by considerable e-commerce growth in the U.S. However, the global transportation management system market across Asia-Pacific is projected to portray the highest CAGR of 10.0% during the forecast period, owing to growing international trade, especially in emerging economies such as China and India, and rise in smartphone penetration.

Some of the key companies mentioned within the report are Oracle Corporation, SAP, C.H. Robinson, Trimble, BlueJay solutions, MercuryGate International, Blue Yonder, Transplace, 3GTMS, and E2Open.

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Covid-19 Scenario:

● The pandemic resulted in disrupted supply chains due to market volatility and ban on international trade. Moreover, the pandemic caused enormous strain on the supply chains as there is a rush to ship orders as quickly as possible. This, in turn, boosted the adoption of transportation management systems among the end-users.

● During the pandemic, companies tightened their budgets. However, the need to stay connected increased more than ever for logistics companies to maintain mobility. This increased the demand for transportation management systems.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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