Why You Should Invest In this Industry | The Transportation Management System Market Reach USD 11.36 Billion by 2027

Exponential growth within the e-commerce industry has raised the demand for efficient transportation solutions, driving the overall market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, July 25, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, Why You Should Invest In this Industry | The Transportation Management System Market Reach USD 11.36 Billion by 2027 . The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

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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Exponential growth within the e-commerce industry and technological advancements across the transportation and logistics sectors have boosted the growth of the global transportation management system market. Advent of autonomous and connected vehicles, rise in adoption of cloud technology, and arrival of Industry 4.0 are expected to create opportunities for the market players in the future.

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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Covid-19 Scenario:

● The pandemic resulted in disrupted supply chains due to market volatility and ban on international trade. Moreover, the pandemic caused enormous strain on the supply chains as there is a rush to ship orders as quickly as possible. This, in turn, boosted the adoption of transportation management systems among the end-users.

● During the pandemic, companies tightened their budgets. However, the need to stay connected increased more than ever for logistics companies to maintain mobility. This increased the demand for transportation management systems.

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By component, the solution segment held the lion's share in 2019, contributing to nearly three-fourths of the global transportation management system market. Moreover, the segment is estimated to register the highest CAGR of 9.7% during the forecast period, as the introduction of digital solutions from connected warehouses to new mileage delivery services increase the value and presence of TMS. The research also analyzes the services segment.

By industry vertical, the manufacturing segment held the largest share in 2019, accounting for nearly two-fifths of the global transportation management system market, due to growing significance of tracking and maintenance of goods and raw materials and cost-effective operations. However, the healthcare and pharmaceutical segment is expected to manifest the highest CAGR of 10.2% during the forecast period, as healthcare is emerging as a key industry, as traceability, visibility, and shipping controls contributing toward growth of the TMS market in pharmacy sector. Moreover, the lower expedited transportation costs supplemented the market growth.

By region, the market across North America dominated in 2019, contributing to nearly two-fifths of the market, as the market is driven by considerable e-commerce growth in the U.S. However, the global transportation management system market across Asia-Pacific is projected to portray the highest CAGR of 10.0% during the forecast period, owing to growing international trade, especially in emerging economies such as China and India, and rise in smartphone penetration.

Some of the key companies mentioned within the report are Oracle Corporation, SAP, C.H. Robinson, Trimble, BlueJay solutions, MercuryGate International, Blue Yonder, Transplace, 3GTMS, and E2Open.

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