Transportation Management System Market
Cloud technology, adoption of more advanced systems , self-driven trucks and emergence of apps are factors which drive the TMS market
PORTLAND, PORTLAND, OR, UNITED STATE, September 8, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Transportation Management System Market By Component (Solution and Services), Solution Type (Planning & Execution, Order Management, Audit, Payment, & Claims, Reporting & Analytics, and Routing & Tracking), Deployment Model (On-premise and Cloud), Transportation Mode (Roadways, Railways, Airways, and Maritime), and Industry Vertical (Retail, Healthcare & Pharmaceuticals, Manufacturing, Energy & Utilities, Transportation & Logistics, Government, and Others) Global Opportunity Analysis and Industry Forecast, 2020-2027. ” The report has offered an all-inclusive analysis of the global Transportation Management System Market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
The global transportation management system market size generated $5.46 billion in 2019, and is estimated to garner $11.36 billion by 2027, witnessing a CAGR of 9.6% from 2020 to 2027.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Rise of the e-commerce industry and technological innovations across the transportation and logistics industries drive the growth of the global transportation management system market. However, security concerns restrain the market growth. Contrarily, introduction of autonomous and connected vehicles, surge in adoption of cloud technology, and rise of the Industry 4.0 will offer opportunities in the coming years.
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The report provides detailed segmentation of the global transportation management system market based on component, solution type, deployment model, transportation mode, industry vertical, and region.
Based on industry vertical, the manufacturing segment contributed to the largest market share in 2019, accounting for nearly two-fifths of the total share, and is estimated to continue its leadership status during the forecast period. However, the healthcare and pharmaceutical segment is expected to witness the largest CAGR of 10.2% from 2020 to 2027.
By component, the solution segment accounted for the highest market share in 2019, holding nearly three-fourths of the total market share, and will maintain its lead position throughout the forecast period. Moreover, this segment is projected to witness the largest CAGR of 9.7% from 2020 to 2027. The research also analyzes the services segment.
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Based on region, North America held the highest market share in terms of revenue in 2019, accounting for nearly two-fifths of the total market share of the global transportation management system market, and will maintain its dominance in terms of revenue by 2027. However, Asia-Pacific is estimated to manifest the fastest CAGR of 10.0% during the forecast period.
Leading players of the global transportation management system market analyzed in the research include Oracle Corporation, C.H. Robinson, SAP, BlueJay solutions, Trimble, Blue Yonder, MercuryGate International, 3GTMS, Transplace, and E2Open.
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Impact of Covid-19 on Transportation Management System Market:
• There has been an urgency to manage and deliver orders efficiently during the pandemic, which led to adoption of transportation management systems. Moreover, disrupted supply chains and ban on international trade created new challenges.
• Owing to low budgets and requirement to stay connected with the help of technology, companies began deployment of efficient and effective mobility strategies. In addition, they have been determining additional tools for integrating them with current technology to fulfill new shipping needs.
Highlights of the Report
Competitive landscape of the transportation management system Market.
Revenue generated by each segment of the transportation management system market by 2027.
Factors expected to drive and create new opportunities in the transportation management system industry.
Strategies to gain sustainable growth of the market.
Region that would create lucrative business opportunities during the forecast period.
Top impacting factors of the transportation management system market.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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