Transportation Management System Market Development Factors, Latest Opportunities and Forecast 2022
According to a new market research report ”Transportation Management System Market byTransportation Mode (Railways and Roadways), Component (Solution Type,Hardware, and Services), Deployment Mode (Hosted and On-premises), Application,and Region - Global Forecast to 2022", published byMarketsandMarkets™, The global transportation management system market isexpected to grow from USD 78.20 Billion in 2017 to USD 202.14 Billion by 2022,at a Compound Annual Growth Rate (CAGR) of 20.9%.
The growth of the global transportation management systemmarket is driven by various factors, such as the revolution of industries dueto digitization, rapid urbanization, and rising congestion in the metro cities.The growing population and congestion in urban areas are in turn increasing thedemands for transportation management systems.
Browse 111 market data Tables and56 Figures spread through 161 Pages and in-depth TOC on "Transportation Management System Market byTransportation Mode (Railways and Roadways), Component (Solution Type,Hardware, and Services), Deployment Mode (Hosted and On-Premises), Application,and Region – Global Forecast to 2022"
Major Key Companies
Majorvendors offering transportation management solutions and services include SAPSE (Germany), Oracle (US), Manhattan Associates (US), Descartes (Canada), JDASoftware (US), CTSI-Global (US), Inet-Logistics GMBH (Austria), BluJaySolutions (UK), MercuryGate International (US), and Efkon AG (Austria).
Moreover, high Return on Investment (RoI), and enhancedvisibility and control are a few other factors driving the market growth. Withthe adoption of digital technologies, transportation vendors and third-partyproviders have reduced the overall transportation costs and minimized deliveryerrors, resulting in the growth of the transportation management system market.
Support and maintenance segment togrow at the highest CAGR during the forecast period
Amongservices, the support and maintenance segment is expected to account for thehighest CAGR during the forecast period. These services provide transportoperators with the necessary tools to control the entire transportation supplychain, leading to an increase in the demand for transportation managementsolutions. The support and maintenance services have a promising future as thetransportation management system market is rapidly evolving; hence, therequirement for appropriate pre- and post-sales services, such as design andimplementation, maintenance, and overall training and system support would runhigh.
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Roadways segment to account for alarger market size during the forecast period
The roadwayssegment is anticipated to account for larger market size, as compared to therailways segment, during the forecast period. Roadways enable logisticscompanies to reduce their cartage, loading, and unloading expensessignificantly. Moreover, they are used for short-distance transportation andideal for moving small quantities of goods to widely dispersed markets. The useof Information and Communication Technology (ICT) in the transportationmanagement system has witnessed considerable advancements through cellular,Wi-Fi, Radio Frequency Identification (RFID), and Near Field Communication(NFC) technologies. The use of such technologies in the transportationmanagement system would, in turn, result in market growth.
Asia Pacific to grow at the highestCAGR during the forecast period
Asia Pacific(APAC) is projected to grow at the highest CAGR during the forecast period. Theregion is involved in rapid deployment of interactive technologies, due to thegrowing use of cellular devices and rapid proliferation of the internet. Theongoing smart city projects across countries in APAC is expected to showsignificant growth opportunities in the transportation management systemmarket, thus opening new avenues to the market growth. The implementation oftransportation management solutions helps organizations in maintaining andmanaging their distribution networks and supply chains and in reducing expensesand increasing profitability, leading to market growth.
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