Transportation Management Systems Market Surges to $7.6 Billion in 2022, Set to Achieve $19.8 Billion by 2028 with a CAGR of 17.7%

DUBLIN, Oct. 23, 2023 /PRNewswire/ — The “Transportation Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to  ResearchAndMarkets.com’s offering.

The global transportation management systems (TMS) market has witnessed remarkable growth, reaching US$ 7.6 Billion in 2022. Analysts anticipate substantial expansion ahead, with the market projected to achieve US$ 19.8 Billion by 2028. This growth is expected to occur at an impressive Compound Annual Growth Rate (CAGR) of 17.7% during the period from 2023 to 2028.

A transportation management system is a pivotal tool that aids in planning, executing, and optimizing the physical movement of goods. It plays a crucial role in managing day-to-day transportation activities, trade compliance, and documentation. TMS enhances shipping efficiency, reduces costs, ensures timely delivery of goods, and provides real-time visibility into supply chain operations. Manufacturers, distributors, wholesalers, retailers, and third-party logistics (3PL) providers across various industries widely utilize TMS to streamline their transportation processes.

Key Market Trends:

Several trends are driving the growth of the transportation management systems market:

Rapid Industrialization: The global trend of rapid industrialization, coupled with increasing population and rising traffic congestion, is bolstering the demand for TMS.E-commerce Boom: The growing popularity of online shopping and the thriving e-commerce sector are contributing significantly to the increased demand for TMS to manage shipping operations efficiently.Global Trade Expansion: Improved bilateral economic relations between countries are creating opportunities for TMS providers to expand their customer base.IoT Integration: The integration of Internet of Things (IoT)-enabled solutions allows real-time monitoring of routes, reducing maintenance costs and shipment delays, further expanding TMS applications across industries.SaaS and Cloud-Based Solutions: Continuous advancements in Software as a Service (SaaS) and cloud-based solutions, along with the expansion of multi-channel distribution systems, are expected to drive market growth.

Key Market Segmentation:

The report provides a detailed analysis of key market segments, including transportation mode, offering, deployment type, and application.

Breakdown by Transportation Mode:

RailwaysRoadwaysAirwaysWaterways

Breakdown by Offering:

SoftwareHardwareServices

Breakdown by Deployment Type:

On-PremisesCloud-based

Breakdown by Application:

Retail and E-commerceManufacturingLogisticsGovernment OrganizationsHealthcareTravel and TourismOthers

Breakdown by Region:

North AmericaUnited StatesCanadaAsia PacificChinaJapanIndiaSouth KoreaAustraliaIndonesiaOthersEuropeGermanyFranceUnited KingdomItalySpainRussiaOthersLatin AmericaBrazilMexicoOthersMiddle East and Africa

Competitive Landscape:

The report presents a comprehensive analysis of the competitive landscape, featuring profiles of key players, including 3GTMS Inc., BluJay Solutions Ltd., CargoSmart Ltd., CTSI-Global, EFKON GmbH, Manhattan Associates Inc., MercuryGate International Inc., Metro Infrasys Pvt. Ltd., Oracle Corporation, SAP SE, The Descartes Systems Group Inc., TMW Systems Inc., and others.

Key Questions Answered in This Report:

What was the size of the global transportation management systems market in 2022?What is the expected growth rate of the global transportation management systems market during 2023-2028?What are the key factors driving the global transportation management systems market?What has been the impact of COVID-19 on the global transportation management systems market?What is the breakdown of the global transportation management systems market based on the transportation mode?What is the breakdown of the global transportation management systems market based on the offering?What is the breakdown of the global transportation management systems market based on the deployment type?What is the breakdown of the global transportation management systems market based on the application?What are the key regions in the global transportation management systems market?Who are the key players/companies in the global transportation management systems market?

For more information about this report visit https://www.researchandmarkets.com/r/e0a3k8

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