Transportation Management Systems Market is Predicted to 9.3% CAGR till 2028

The global Transportation Management Systems Market size is expected to reach USD 261.89 billion by 2028, registering a CAGR of 11.7% over the forecast period, according to a new report by Grand View Research, Inc. The unabated growth of the e-commerce and retail industries and the strong emphasis on automating supply chain & logistics processes using the latest technologies are expected to drive the demand for Transportation Management System (TMS) over the forecast period.

The logistics industry has been evolving in line with the advances in technology. The latest technologies, such as Artificial Intelligence (AI), blockchain, the Internet of Things (IoT), and big data, are rapidly transforming the way transportation systems are designed and implemented. Logistics and transportation activities involve a significant exchange of information between all the stakeholders, especially the customers and service providers. At this juncture, efficient TMS facilitates the rapid exchange of information. They also enhance visibility and control over the shipments and subsequently efficiency and customer satisfaction.

The demand for Software-as-a-Service (SaaS)-based TMS is growing owing to the cost-effectiveness and flexibility associated with the SaaS delivery model. Cloud-based services account for a significant share of the global market. Given the increasing demand for customized solutions, vendors are competing aggressively to offer advanced, on-demand software.

Transportation management systems help in accelerating the order-to-delivery cycle times, reducing inventory management costs, ensuring compliance, reducing freight costs, and cutting the time spent on maintaining customs documentation. The higher ROI offered by TMS is particularly serving as a primary driver for the market growth.

Related Press Release@ Transportation Management Systems Market Report

Transportation Management Systems Market Report Highlights

• The cloud segment is anticipated to register a significant growth rate over the forecast period due to the continued digitalization and growth of the e-commerce industry in emerging economies
• The airways segment is expected to register a considerable growth rate over the forecast period
• The growing demand for fast-paced delivery of products from the incumbents of the retail, e-commerce, healthcare, and logistics industries is expected to encourage the deployment of TMS for air transportation
• The government organizations segment is anticipated to register a moderate growth rate over the forecast period owing to the rising demand for traffic management solutions, including automatic number plate recognition, signaling, information management, and parking management among others
• North America accounted for the largest revenue share in 2020. Increased import and export activities across the U.S. and Canada boost the demand for TMS for real-time tracking of products across the region