Transportation Management System
Market Size is forecast to reach $23.36 billion by 2027, at a CAGR of 17.61% during
2022-2027. With the internet gaining momentum and influence in all aspects of daily
life over the last 15 years, package transportation has seen an increase in its
reach and influence. Because of the popularity of e-commerce, a rising number
of individuals are purchasing things online rather than visiting
brick-and-mortar establishments. This dramatic shift in the e-commerce sector
is forcing shippers to adjust their supply chains to new technologies and new
ways for consumers to purchase items online. The e-commerce sector is rapidly
expanding as more consumers use online platforms and smart gadgets for this
purpose. E-commerce is on course to overtake traditional sales channels. The
need for scalability, flexibility and visibility throughout the supply chain is
propelling the transportation system market. With the rising e-commerce market
around the world, the online retail market is evolving at a rapid pace and
customers are looking for highly tailored experiences, which support market
growth. As the transportation and logistics industries expand, the desire for
smarter, more efficient and faster shipping services becomes increasingly
vital, contributing considerably to the growth of the transportation management
system market. Hence the growing need for e-commerce is
creating an ample number of growth aspects for the Transportation Management
System systems market during the forecast period of 2020-2027.
Transportation & Logistics segment of the Global Transportation Management Market Transportation & Logistics industry is one of the most prominent segments of the Transportation Management System Market among other end-user industries. This segment accounted for $1241.33 Million, in 2021 and is estimated to grow at a CAGR of 20.17% from 2022 to 2027 and reach $3811.72 Million, by 2027. The growth of transportation management systems (TMS) in the Transportation & Logistics industry is majorly driven by the rising advancement in cloud based technologies in logistics industry coupled with the increasing demand of high efficient freight management solutions across the globe. In March 2022, FleetOps, North America's fastest-growing capacity aggregation and freight matching platform joined forces with Turvo, provider of the world's leading collaboration application designed for the supply chain to optimize logistics efficiency. In May 2022, Shipwell, an industry leader in cloud-based shipping and logistics introduced a load optimization feature built directly into the company’s transportation management system (TMS). This feature helps customers significantly reduce the time it takes to plan and route shipments, the costs associated with moving them and the carbon emissions produced by the carriers hauling them, fueling the adoption of TMS in the transportation & logistics industry.
Canadian Transportation Management System market was valued at $410.78 Mn in 2021 and is estimated to reach $1142.53 Mn by 2027, growing at around a CAGR of 18.53% during 2022-2027. The Canadian Government is strengthening Canada’s trade corridors to help Canadians compete in key global markets, trade more efficiently with international partners and to improve the resiliency and competitiveness of Canada’s export-driven supply chains. Rising investment by the Canadian Government in strategic infrastructure projects to address transportation bottlenecks, vulnerabilities and congestion along Canada’s trade corridors has been positively impacting the growth of the transportation management system. Companies in Canada are integrating their transportation and global trade management systems with emerging technologies like blockchain, adaptive intelligence and machine learning and so on to further improve visibility and offer better customer service.
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Transportation Management System Market Growth Drivers:
Growth of the government sector:
Transportation Management System offers a wide range of applications in the Government sector which makes it one of the fastest growing segments among other end-user industries. This segment accounted for $845.81 Million, in 2021 and is estimated to grow at a CAGR of 13.30% from 2022 to 2027 and reach $1794.02 Million, by 2027. The growth of the transportation management system (TMS) in the Government sector is majorly driven by ongoing Government initiatives to uplift the transportation sector and meet the growing demand for exports and imports in the global market. Transportation Management System helps government officials to monitor and verify the registration of vehicles for supervision and security applications. Moreover, TMS provides easy generation of the digital bills through a portal for the movement of goods in inter or intra-state. These features tend to drive the growth of Transportation management systems in the Government sector.
The Major Players in this Market Include
Major players in Transportation Management System Market include Oracle Corporation, SAP SE, C.H. ROBINSON, TRIMBLE, Inc., Blujay Solutions, Blue Yonder, Inlet-Logistics, Manhattan Associates, Metro Infrasys Private Limited and Mercuryate International, Inc. among others. In 2020, BlackBerry has announced the integration of BlackBerry Radar with Trimble’s TMW.Suite and TruckMate transportation management system (TMS). The new offering is available for commercial carriers, dedicated fleets, private fleets, brokers and 3PLs using TMW.Suite or TruckMate software.
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