22-Oct-2019: The global transportation
management systems market size is expected to reach USD
198.82 billion by 2025, at a CAGR of 16.2%, according to a new report by Grand
View Research, Inc. The emerging growth of the retail and e-commerce sector and
the increasing need for automation and technology in supply chain and logistics
are driving the adoption of transportation management system (TMS).
Advancements in digital technologies which have led to the implementation of
cloud transportation management systems, Internet of Things (IoT), predictive
analytics, Artificial Intelligence (AI) solutions, and blockchain technology
facilitate the market growth. In addition, the high Return on Investment (RoI)
on the implementation of a TMS module is drawing a large number of players to
the market, which is expected to drive the growth.
Logistics and
supply chain companies are significantly investing in the deployment of the
latest technologies in their transportation management systems to make optimum
use of the high volume of data produced daily. AI is extensively used by
logistics companies to enhance real-time decision-making abilities related to
cost, carriers, inventories, and the availability of cargos and shipments. Big
data-driven applications have already emerged to help streamline the logistics
industry on a global scale.
The need for
visibility, scalability, and flexibility across the supply chain is a major
driving force for the transportation management system market. With the growth
in the e-commerce industry around the world, the online retail market is
developing rapidly, and customers are looking for highly personalized retail
experiences, which subsequently helps drive the market. As the logistics and
transportation sectors continue to grow, the need for faster, smarter, and more
efficient shipping services becomes crucial, which is expected to make a
significant contribution to the growth of the market.
There has been a
rise in the competition among various module developers due to the introduction
of technologies such as AI and blockchain. These technologies significantly
contribute to the improvement of transportation management systems. Companies
are making huge investments in their technological R&D to improve payment
processing, freight location monitoring, and order fulfillment. Automation in
logistics is gaining a lot of importance in the market, and module developers
see this as a significant market opportunity. It would prove important for
companies to embrace these technologies over the coming years to maintain a
competitive position in the TMS market.
In
depth research report on Transportation Management Systems Market
Further key findings from the report suggest:
·
Increasing digitalization and growth of the e-commerce
industry in emerging economies are expected to drive the transportation
management system market over the forecast period
·
The Cloud TMS segment is expected to register the highest
CAGR of 17.2% over the forecast period
·
Growing investments in railway infrastructure are expected to
fuel the overall market growth in the forthcoming years
·
North America held the largest market share in 2018. The
increasing import and export activities between U.S. and Canada, U.S. and
Mexico, and U.S. and other countries are expected to drive the market
·
Key players including Oracle Corporation; SAP SE; The
Descartes Systems Group, Inc.; and JDA Software Inc. among others accounted for
a majority share of the overall market in 2018
Grand View Research
has segmented the global transportation management system market on the basis
of deployment mode, mode of transportation, end user, and region:
Transportation Management Systems Deployment Mode Outlook
(Revenue, USD Billion, 2015 - 2025)
·
On-Premise
·
Cloud
Transportation Management Systems Mode of Transportation
Outlook (Revenue, USD Billion, 2015 - 2025)
·
Roadways
·
Railways
·
Waterways
·
Airways
Transportation Management Systems End User Outlook (Revenue,
USD Billion, 2015 - 2025)
·
Retail & E-commerce
·
Manufacturing
·
Logistics
·
Government Organizations
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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