What Has Been the Growth of the Transportation Management System Market So Far?
The transportation management system market has seen considerable growth due to a variety of factors.
• In recent years, the market size of the transportation management system has seen a speedy expansion. Starting from a valuation of $13.11 billion in 2024, it is projected to leap to $15.28 billion in 2025, representing a compound annual growth rate (CAGR) of 16.6%. The notable growth in the historical period is owed to factors such as the escalation in the intricacy of logistics, the need for regulatory compliance, increased fuel prices, the requirement for cost efficiency, customer's need for quick deliveries, and the necessity for integration with other systems.
How Will the Transportation Management System Market?
The Transportation Management System market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the transportation management system (TMS) is predicted to experience rapid expansion in the coming years, increasing to $28.36 billion in 2029 with a compound annual growth rate (CAGR) of 16.7%.
The factors contributing to this anticipated growth during the forecast period include the introduction of self-driving vehicles, an increased push toward sustainability, complexity in final-stage delivery, the rising significance of data analytics, the growth of cross-border commerce, and an emphasis on scalability. Other key trends expected during this forecast period are the use of cloud-based TMS, real-time tracking and visibility, collaborative platforms and ecosystems, mobile TMS apps, the inclusion of automated and autonomous vehicles in TMS, globalization, multi-modal transport, and subscription-based TMS models.
Which Factors Are Boosting Growth In The Transportation Management System Market?
The surge in the use of cloud and IoT applications is anticipated to spearhead the expansion of the transportation management system market. These applications comprise of APIs and additional interfaces enabling the pushing and pulling of data to and from IoT sensor devices and connected applications. The Internet of Things (IoT) provides in-depth integrated and streamlined transportation and warehouse management solutions in areas of transport, logistics, and fleet management by linking in-vehicle sensors and other related digital equipment via the network. As pointed out by AAG IT Services, a UK-based IT and digital transformation services firm, in January 2024, public cloud services experienced a revenue jump, surpassing $415 billion in 2022, a noticeable increase from $343 billion in 2021, with forecasts hinting at a rise to $526 billion in 2023. Furthermore, in August 2022, according to a report by the Health Sector Cybersecurity Coordination Center (HC3), a US-based Cybersecurity Program division of the United States Department of Health and Human Services, roughly 7 billion gadgets were connected through the Internet of Things (IoT) in 2022, with an approximate growth prediction of 20 billion more by 2025. Consequently, the utilization of cloud and IoT applications will power the momentum of the transportation management system market.
What Key Areas Define The Segmentation Of The Global Transportation Management System Market?
The transportation management system market covered in this report is segmented –
1) By Solution Type: Planning And Execution, Order Management, Audit, Payment, And Claims, Reporting And Analytics, Routing And Tracking
2) By Deployment: On-Premise, Cloud
3) By Transportation Mode: Roadways, Railways, Airways, Maritime
4) By Industry Vertical: Retail, Healthcare And Pharmaceutical, Manufacturing, Energy And Utilities, Government Sector, Other Industry Verticals
Subsegments:
1) By Planning And Execution: Load Optimization, Carrier Selection, Route Planning
2) By Order Management: Order Entry And Tracking, Inventory Management, Order Fulfillment
3) By Audit, Payment, And Claims: Freight Audit And Payment, Claims Management, Billing Solutions
4) By Reporting And Analytics: Performance Dashboards, Cost Analysis Tools, KPI Tracking
5) By Routing And Tracking: Real-Time Tracking Solutions, Route Optimization Tools, Fleet Management Solutions
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How Are Emerging Trends Reshaping The Dynamics Of The Transportation Management System Market?
The growing prevalence of technological innovation and the rise of automation are emerging trends in the transportation management system market. The main players in the market are concentrating on developing novel technology to improve planning and execution, rating, and integration functions. To illustrate, ACERTUS, a logistics firm based in the US, in November 2023 introduced a groundbreaking Transportation Management System (TMS) purposed to provide unparalleled transparency in vehicle shipments. This novel TMS integrates shippers with North America's most extensive multimodal transport network effortlessly, by simplifying auto shipping with features like immediate quotes, single or multi-VIN ordering, standard and expedited shipping rates, and API connectivity for easy integration with pre-existing operating systems.
Who Are the Key Players In The Transportation Management System Market?
Major companies operating in the transportation management system market include:
• Oracle Corporation
• SAP SE
• C.H. Robinson Worldwide Inc.
• Trimble Transportation Enterprise Solutions
• 3Gtms Inc.
• Alpega Group
• Blue Yonder Group Inc.
• BluJay Solutions Ltd.
• CargoSmart Limited
• Descartes Systems Group Inc.
• E2open LLC
• FourKites Inc.
• Generix Group
• GlobalTranz Enterprises Inc.
• InMotion Global Inc.
• JDA Software Group Inc.
• Kuebix LLC
• LeanLogistics Inc.
• Loadsmart Inc.
• Logistically Inc.
• Manhattan Associates Inc.
• MercuryGate International Inc.
• MP Objects B.V.
• Omnitracs LLC
• One Network Enterprises Inc.
• project44 Inc.
• Revenova Limited
• ShipBob Inc.
• ShipCaddie
• ShipEdge LLC
What Is The Most Dominant Region In The Transportation Management System Market?
North America was the largest region in the transportation management system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the transportation management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
