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I AgreeAnalysis of Transportation Management System market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global transportation management system market is expected to accumulate a market value of US$ 6.9 Bn in 2022. The industry will register a staggering double-digit CAGR of 10.7%. The sales of transportation system are expected to surpass US$ 19.1 Bn through the forecast period 2022-2032.
Report Attributes | Details |
---|---|
Market Size Value in 2022 |
US$ 6.9 Bn |
Project Market Forecast Value in 2032 |
US$ 19.1 Bn |
Global Growth Rate (2022-2032) |
10.7% |
Market Share of North America |
60% |
Key Companies Profiled |
|
Transportation management solutions are expected generate higher revenue over the coming years, accounting for an absolute dollar opportunity of nearly US$ 8.2 Bn through 2032.
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As per the transportation management system industry research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the transportation management system industry increased at around 7.5% CAGR, wherein, the U.S., Germany, and U.K. held significant share in the global TMS market.
Constant surge in urbanization has aggravated the need for advanced transportation infrastructure powered by software-based solutions. Owing to this, demand for transportation management systems is projected to surge at a CAGR of 10.7% over the coming 10 years.
Rising Need for Centralizing Transportation Workflow Enhancing Prospects
Transportation management solutions are now being considered as a subset of modern supply chain management. Whether in-house or outsourced, supply chain is being burdened by timelines as well as perfection to meet the expectations of both, demand and supply sides.
Transportation management systems have been automating entire processes, from quotation to delivery. Furthermore, these systems centralize processes, enable planning for predicted and unpredicted events, and eliminate unnecessary stress from the overall supply chain.
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Purchasing Managers’ Index (PMI) is a measure of the progress of economic trends in a country. Amid the pandemic, most sectors have undergone a rough patch in PMI.
With the resumption of economic activities at previous pace, the manufacturing sector will require prompt response from the supply chain to resume to its previous state. In this situation, transportation management systems are likely to prove beneficial to manage the misaligned supply chain.
PMI activities in countries such as India, Thailand, Philippines, Singapore, Mexico, Columbia, Russia, Uganda, and Lebanon have been observed to slide down in the past few months.
Transportation management system providers have the opportunity to associate with purchase managers across key sectors to help them improve their supply chain systems and recover their economic activities.
Some of the key companies having manufacturing units in China have started to relocate their production units to South and South East Asian countries such as Vietnam, Thailand, India, and Indonesia.
While this implies a shift in trade dynamics, it essentially promises a significant opportunity for transportation management system providers across these countries.
Moreover, manufacturing and production units have increased at a rapid speed in countries like India and China. This, in turn, has increased the demand for transportation management systems in the region. Thus, with nearly 12% projected growth rate, transportation management system revenue is expected to grow at fastest pace in Asia Pacific.
North America has large corporations providing transportation management solutions, such as Oracle and C.H. Robinson. Along with these, it also has a large number of small players and start-ups.
Both, the U.S. and Canada feature amongst the largest consumers, and they are also exporters of several products, which makes their manufacturing robust. This consequently creates high demand for automation solutions in the entire supply chain, thus necessitating the use of transportation management systems.
Thus, with an absolute dollar opportunity of US$ 4 Bn, North America is set to remain the most lucrative region for transportation management systems.
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Transportation management systems have enjoyed considerable penetration across key countries. Moreover, several small- and mid-size companies are still aloof from their benefits.
In order to stay relevant amid the technology adoption of large players, tier-2 companies have started deploying transportation management solutions in their supply chain framework. Furthermore, technological advancement and automation is also playing a key role in creating opportunities for transportation management systems.
Thus, transportation management solutions are expected to account for over 65% revenue by accounting for an absolute dollar opportunity of nearly US$ 8.2 Bn through 2032 in the market in the sales indicator period.
There has been significant surge in the requirement for fast international shipments. Quick order deliveries require air transportation. During COVID-19, when airlines witnessed significant losses owing to restricted cross-border movements, air freight made significant strides in carrying medical emergency products across countries.
Over the years to come, transportation management system revenue through airways is expected to increase at nearly 11% CAGR.
According to the market research analysis, order wins have been the prominent development in the transportation management system (TMS) market in recent years.
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As of 2022, the market for transportation management system will reach nearly US$ 6.9 Bn
From 2017-2021, the market for transportation management systems grew at a CAGR of 7.5%
The transportation management system industry is expected to surpass a CAGR of 10.7% from 2022-2032.
The transportation management system market is expected to reach nearly US$ 19.1 Bn by 2032
Increasing production units along with technological advancements are the key trends driving transportation management system sales.
The top 5 transportation management system providers comprise 17% of the global market
Transportation management solutions is expected to gain more than 65% market share for transportation management system market.
Airway-based-transportation management system is expected to register a CAGR of 11% for transportation management system market.
The transportation management system industry is expected to create a US$ 4 Bn market value throughout North America.
The transportation management system industry is expected to register a CAGR of 12% throughout South Asia.