Autos

Transportation Management System Market: A $40.3 billion Industry Dominated by Tech Giants – Oracle (US) and SAP (Germany) | MarketsandMarkets™ – Technology Today


Chicago, July 05, 2024 (GLOBE NEWSWIRE) — The Transportation Management System Market is projected to grow from USD 16.0 billion in 2024 to USD 40.3 billion by 2029 at a CAGR of 20.2% during the forecast period, according to new research report by MarketsandMarkets™.  

Browse in-depth TOC on “Transportation Management System Market

357 – Tables
50 – Figures
320 – Pages

Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=232446179

Transportation Management System 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

List of Key Players in Transportation Management System Market:

  • 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)

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=232446179

These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These players can focus on developing innovative TMS market technologies and offerings owing to the emergence of new application areas for TMS markets. These companies offer several product offerings and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach. 

As companies venture into new markets, they encounter diverse logistical challenges, including navigating complex regulatory environments, coordinating cross-border shipments, and managing multi-modal transport. TMS solutions provide essential support by facilitating seamless communication and collaboration across global supply chains. They enable businesses to optimize transportation routes, ensure compliance with international trade regulations, and enhance overall operational efficiency. By effectively managing global logistics, TMS helps businesses maintain competitiveness, minimize costs, and meet the increasing demands of a globalized marketplace.

The planning & execution solution segment contributed the largest market share in the transportation management system market during the forecast period.

The global supply chain has undergone profound digitization with advancements in technologies such as blockchain, connected vehicles, AI/ML, IoT, and big data. This transformation has reshaped supply chain fulfillment strategies, distribution networks, and customer expectations within the transportation industry. In response to these changes, TMS have emerged as critical tools offering real-time insights. These insights empower shipping professionals, logistics providers, and distributors to make informed decisions regarding transportation modes and carrier choices. By automating essential functions like carrier and shipment management, rate acceptance, dispatching, and electronic data interchange (EDI), TMS enhances efficiency in planning and executing transportation operations.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=232446179

The maritime transportation mode registered the highest CAGR in the transportation management system market during the forecast period.

Sea transportation plays a dominant role in global trade, accounting for more than 80% of goods transported worldwide. Despite international maritime transport costs being typically two to three times higher than customs duties, it remains the most economical method for transporting many goods. Beyond cost considerations, factors such as service quality—covering speed, reliability, frequency, safety, and security—are increasingly crucial in today’s globalized production landscape and demand for just-in-time deliveries. The optimization of shipping routes through TMS can effectively mitigate unnecessary international charges and tariffs, leading to reduced shipping costs and faster delivery times. This underscores the critical role of TMS in enhancing efficiency and competitiveness in global supply chains by ensuring reliable and cost-effective sea transportation.

Based on region, North America holds the largest market size during the forecast period.

The North American transportation management market is thriving, driven by factors such as the rapid growth of e-commerce and the complex nature of freight operations across the US and Canada. Major corporations are swiftly embracing TMS solutions to optimize operations, enhance employee satisfaction, and navigate challenges posed by recent lockdowns. North America’s emphasis on developing innovative TMS solutions incorporating analytics, AI, and ML is expected to propel market growth. The region’s strong economic stability and technological advancements continue to drive its position as a leading revenue contributor in the global TMS market. Companies like Manhattan Associates are at the forefront, developing TMS solutions that support sustainability initiatives such as carbon footprint tracking and optimization for alternative fuel vehicles, further bolstering market expansion.

Get access to the latest updates on Transportation Management System Companies and Transportation Management System Industry

About MarketsandMarkets™
        
        MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
        
        MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
        
        Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
        
        The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
        
        Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
        
        To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
        
        Contact:
        Mr. Rohan Salgarkar
        MarketsandMarkets™ INC.
        630 Dundee Road
        Suite 430
        Northbrook, IL 60062
        USA: +1-888-600-6441
        Email: sales@marketsandmarkets.com



READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.