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Global Transportation Management System Industry Research 2024-2029: Increasing Demand from E-Commerce Sector to Bolster Growth, Rising Adoption of Cloud-based Technology and Industry 4.0
Global Transportation Management System Market
Dublin, July 03, 2024 (GLOBE NEWSWIRE) -- The "Global Transportation Management System Market by Offering (Solutions (Planning & Execution, Order Management, Analytics & Reporting, Routing & Tracking), and Services), Transportation Mode, End User, Vertical and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The transportation management system (TMS) market is estimated to grow from USD 16.0 billion to USD 40.3 billion at a CAGR of 20.2%, from 2024 to 2029
Technologies like artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) are significantly enhancing TMS capabilities. AI and ML algorithms can predict demand patterns, optimize routes in real-time, and automate decision-making processes, reducing human error and increasing efficiency. IoT devices provide real-time data from vehicles and shipments, allowing for proactive management of transportation operations. These technologies not only improve operational efficiency but also enable better strategic planning and forecasting.
The major players in the TMS market are Oracle (US), SAP (Germany), Manhattan Associates (US), C.H. Robinson (US), Trimble (US), WiseTech Global (Australia), Descartes (Canada), E2open (US), Generix Group (France), MercuryGate (US), Blue Yonder (US), Uber Freight (US), Alpega Group (Belgium), Worldwide Express (US), Infor (US), Kinaxis (Canada).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their TMS footprint.
The services segment is projected to register the highest CAGR during the forecast period.
The TMS services encompassing consulting, integration & implementation, and support & maintenance. Consulting services provide specialized expertise to evaluate, and design tailored logistics strategies that meet specific business requirements. Integration & implementation services ensure seamless deployment and integration of TMS solutions into existing operations, facilitating smooth transitions and maximizing system benefits.
And support & maintenance services offer ongoing technical assistance and regular updates to ensure consistent and optimal system performance, promptly addressing any operational challenges. Together, these services empower businesses to fully harness TMS solutions, enhancing operational efficiency, reducing costs, and achieving superior logistics management capabilities.
The shippers end user segment contributed the largest market share in the transportation management system market during the forecast period.
Shippers bear the responsibility of organizing and transporting goods, relying on robust TMS that offer a comprehensive suite of capabilities. These include route planning, scheduling, carrier management, cloud-based freight auditing, and load-building tools.
TMS solutions benefit both shippers and service providers across the supply chain. Shippers are increasingly embracing TMS solutions to strengthen relationships with customers and suppliers. They also leverage advanced features such as route planning, rating systems, and real-time tracking to optimize operations further. This adoption underscores TMS as a critical tool for improving operational efficiency and enhancing overall logistics management in today's competitive market environment.
Asia Pacific will register the highest growth rate during the forecast period.
The Asia Pacific region is at the forefront of TMS market growth, driven by factors such as intense global competition, widespread adoption of smart devices and connected technologies, and significant investments in smart city initiatives. Countries like India, China, and Vietnam are experiencing rapid economic growth, leading to increased deployment of connected solutions including sensors and RFID tags, which generate vast amounts of data.
This proliferation of data has elevated the importance of TMS in optimizing transportation and logistics operations across the region. Additionally, the diversification of transport modes and operators, coupled with advancements in cloud and mobile technologies, is expected to further propel the growth of the TMS market in Asia Pacific.
Key Attributes:
Report Attribute | Details |
No. of Pages | 322 |
Forecast Period | 2024 - 2029 |
Estimated Market Value (USD) in 2024 | $16 Billion |
Forecasted Market Value (USD) by 2029 | $40.3 Billion |
Compound Annual Growth Rate | 20.2% |
Regions Covered | Global |
Premium Insights
Increasing Demand for Transportation Management Systems from E-Commerce Sector to Drive Market
Retail Vertical and US to Dominate North American Market in 2024
Roadways Segment and China to Account for Largest Share in Asia-Pacific Market in 2024
Case Study Analysis
Tetra Pak Modernizes Global Logistics with Oracle Cloud
SAP Helps Xiwei Build Efficient Transportation and Delivery Platform
Carhartt Implementats of Manhattan Tms Solution in Supply Chain
Billerud Reshapes Outbound Logistics with Mercurygate Tms
Trimble Transportation Solutions Drive Efficiency and Innovation at Mccoy Group
Avery Dennison Adopts Transplace Tms to Simplify Customs Compliance in US and Mexico
Market Dynamics
Drivers
Use of Cloud-based SaaS Solutions
Mergers & Acquisitions of Top-Tier Tms Product Players with Startups
Strengthening Bilateral Trade Relations Between Countries and Growth in Global Trade
Technological Advancements in Transportation and Logistics Industry
Rise of Last-Mile Delivery in Transportation
Restraints
Growing Concerns Over Data Security
Slow Adoption due to High Capital Investment
Opportunities
Evolving 5G Logistics
Use of Autonomous and Connected Vehicles in Transportation and Logistics
Rising Adoption of Cloud-based Technology and Industry 4.0
Challenges
Rise in Use of Electric Vehicles
Lack of Awareness of Benefits of Tms Among End-users
History of Transportation Management System
Ecosystem Analysis
Solution/Service Providers
System Integrators
Freight Forwarders
Technology Enablers
Regulatory Landscape
International Organization for Standardization
Iso/Iec Jtc
Iso/Iec 27001
Iso/Iec 19770
Iso/Iec Jtc 1/Swg
Iso/Iec Jtc 1/Sc
Iso/Iec Jtc 1/Sc
Iso/Iec Jtc 1/Wg
General Data Protection Regulation
Federal Motor Carrier Safety Administration (Fmcsa)
Federal Highway Administration (Fhwa)
Maritime Administration (Marad)
Federal Aviation Administration (Faa)
Federal Railroad Administration (Fra)
Institute of Electrical and Electronics Engineers
Cen/Iso
Cen/Cenelec
European Telecommunications Standards Institute
Itu-T
Technology Analysis
Key Technologies
Artificial Intelligence & Machine Learning
Blockchain
Internet of Things
Complementary Technologies
Cloud Computing
Robotic Process Automation
Adjacent Technologies
Autonomous Vehicles
Warehouse Management Systems
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
Other Players
Kinaxis
Shipwell
3T Logistics & Technology Group
Ratelinx
Otms
Nshift
Bluerock Tms
Elemica
Tesisquare
Vtradex
Shiptify
Globaltranz
Inmotion Global
Logistically
One Network Enterprises
Intellitrans
Allotrac
Revenova
Princeton Tmx
Ctsi Global
Pcs Software
Shipsy
For more information about this report visit https://www.researchandmarkets.com/r/qcm9se
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