The global transportation management systems market will be driven by increased research and development in the field during the forecast period 2021-2026
Expert Market Research’s new report titled “Global Transportation Management Systems Market Report and Forecast 2021-2026′, gives an in-depth analysis of the global Transportation Management Systems Market, assessing the market based on its segments such as Mode of Transportation, Mode of Deployment, End-Use and Major Regions . The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026):
- Historical market size (2020): 71 billion USD
- Forecast CAGR (2021-2026): 16%
- Forecasted market size (2026): 172.5 billion USD
The growing popularity of SaaS-based TMS solutions is a major factor driving the expansion of the TMS market. Additionally, the market for innovative transportation management solutions is expected to be driven by the need to replace and improve current and traditional transportation management systems. However, market growth is stifled by a lack of end-user awareness, as well as high deployment costs. During the forecast period, the integration of cloud computing and radio frequency identification (RFID) technologies with supply chain management systems would provide good opportunities for the development of the TMS market.
Industry definition and major segments
Supply Chain Management (SCM) and Enterprise Resource Planning (ERP) suites provide Transportation Management Systems (TMS) in module form. With tools such as freight auditing, payments, route planning and optimization, job site management, load building, order visibility and carrier management, it helps various industries and organizations in sourcing and freight forwarding.
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The mode of transport can be divided as follows:
- Airlines companies
Deployment mode can be segmented into:
The Transportation Management Systems Market can be broadly categorized based on end-use segments into:
Based on Region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Businesses are using transportation management systems (TMS) as a major technology method to improve collaboration. Moreover, in order to expand their global reach, organizations around the world are constantly focusing on reducing the costs associated with their communication methods. As a result, the market for transportation management systems has witnessed phenomenal growth, resulting in the creation of advanced conferencing solutions and services. Additionally, with the growing need to reduce operating costs, the market for transportation management systems has recently evolved from conventional immersive telepresence systems to software-based solutions. The convergence of automation and features such as real-time market monitoring, combined with shippers’ ability to provide supply chain optimization and visibility, has enabled transportation management systems to have a wider application base. The transportation and logistics segment is expected to maintain its dominance over the forecast period, driven by demand from third-party logistics providers, with trucking service providers being major end-users of TMS solutions. North America, led by Europe, is seeing more deployment of TMS solutions than other regions, and this trend is expected to continue in the years to come. The increased use of RFID technology in the supply chain system has fueled market traction in the region, along with the proliferation of cloud computing technologies. The region’s transportation management system vendors are partnering with RFID technology vendors to develop innovative and integrated solutions and thereby improve R&D efficiencies.
Key market player
The major market players are 3Gtms, LLC, BluJay Solutions LLC, Cerasis, CH Robinson Worldwide, Inc. (NASDAQ: CHRW), The Descartes Systems Group Inc., Infor Inc., inet-logistics GmbH, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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