Transportation Management System Market Reach to USD 11.36 Billion by 2027 | Top Players such as-3GTMS, Trimble & E2Open

Increase visibility, tracking shipments in real time & timely delivery services for satisfactory customer experience are enabling companies to opt TMS solutions

PORTLAND, PORTLAND, OR, UNITED STATE, August 9, 2023/EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Transportation Management System Market Reach to USD 11.36 Billion by 2027 | Top Players such as-3GTMS, Trimble & E2Open." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global transportation management system market was valued at USD 5,467 million in 2019, and is projected to reach USD 11,367 million by 2027, registering a CAGR of 9.6% from 2020 to 2027.

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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.

The global transportation management system market is primarily segmented on the basis of component, solution type, deployment model, transportation mode, and industry vertical. Based on component, the market is bifurcated into solution and services. By solution type, it is segmented into planning & execution, order management, audit, payment, & claims, reporting & analytics, and routing & tracking. Based on deployment, it is divided into on-premise and cloud. On the basis of transportation mode, it is fragmented into roadways, railways, airways, and maritime. Finally, based on industry vertical, the market is classified into retail, healthcare & pharmaceutical, manufacturing, transportation & logistics, energy & utilities, government, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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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.

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.

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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.

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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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