The latest market report published by Credence Research, Inc. “Global Transportation Management Systems (TMS) Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global transportation management systems (TMS) market is anticipated to grow at a substantial CAGR of 15.2% in the upcoming years. The global Transportation Management Systems (TMS) industry was estimated to be worth USD 10.8 billion in 2022 and is expected to be USD 29.07 billion by 2030.
TMS market includes various software vendors, logistics service providers, and third-party logistics (3PL) companies offering TMS solutions. These solutions can be deployed on-premises or accessed through cloud-based platforms, providing scalability and flexibility to meet the diverse needs of businesses.
North America dominated the global transportation management systems (TMS) market in terms of revenue share in 2022. The region’s well-developed transportation infrastructure, including a vast network of highways, railways, and ports, necessitates efficient transportation management and optimization. Many regional transportation and logistics companies are also early adopters of advanced technologies, such as TMS solutions, to optimize operational efficiency and customer service. Moreover, favorable government regulations and initiatives to improve supply chain visibility and security have accelerated TMS adoption in North America.
The global Transportation Management Systems (TMS) Market is bifurcated into Mode of Transportation, End-Use and Geography. Based on Mode of Transportation the market is categorized into Roadways, Railways, Waterways & Airways. Based on End-Use the market is categorized into Retail & E-commerce, Manufacturing, Logistics, Government Organizations & Others. Based on geography, the market is categorized as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Transportation Management Systems (TMS) Market Dynamics refer to the various factors that influence the growth and demand for TMS solutions. In recent years, technological advancements have revolutionized the transportation industry, leading to increased demand for efficient transportation management systems. The rise of e-commerce and globalization has also played a significant role in increasing demand for TMS solutions as businesses seek to optimize their supply chain operations. Additionally, government regulations on environmental sustainability are driving companies towards more sustainable transportation practices, further fueling the adoption of TMS solutions.
The global market for Transportation Management Systems (TMS) is experiencing significant growth, driven by various factors:
- Digital Transformation: With the ongoing digital transformation, businesses are increasingly leveraging technology to streamline their logistics and supply chain operations. TMS provides an efficient way to optimize transportation operations, reduce costs, and improve customer service.
- E-Commerce Boom: The rapid growth of the e-commerce industry worldwide has resulted in increased demand for efficient transportation and logistics management, hence driving demand for TMS solutions.
- Rising Demand for Cloud-Based Solutions: With the increasing adoption of cloud technology, there has been a surge in the demand for cloud-based TMS solutions due to their cost-effectiveness, scalability, and ease of use.
- Globalization and Increased Freight Transportation: With increasing globalization, businesses are expanding their operations across the globe. This expansion is leading to an increase in freight transportation, driving the need for efficient management systems.
- Increased Adoption of IoT and Advanced Analytics: The integration of TMS with Internet of Things (IoT) devices and advanced analytics tools enables real-time tracking, predictive analytics, and efficient management of transportation operations. This trend is driving market growth.
- Government Regulations: Government regulations promoting the digitization of logistics and transportation operations are also stimulating the adoption of TMS.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Transportation Management Systems (TMS) Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the basis of Mode of Transportation and End-Use
- Major nations in each region with their import/export statistics
- The global Transportation Management Systems (TMS) Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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