According to a revised industry report released by Fact.MR, global
According to a revised industry report released by Fact.MR, global transportation management system market revenue is estimated at US$ 8.76 billion in 2024 and is forecasted to increase at a CAGR of 10.3% to reach US$ 23.35 billion by the end of 2034. The increasing use of transportation management systems for effective logistics and transportation is being driven by the expanding e-commerce sector across the world.
Because more people are choosing to purchase online, managing delivery networks is growing more difficult, and making sure shipments arrive on schedule is becoming a major problem for businesses. Due to these difficulties and complexities, supply chain efficiency, delivery route optimization, and logistics coordination all depend on transportation management systems. TMS technology is assisting e-commerce companies in satisfying customer demands.
The North American region is projected to hold around one-fourth of the global market share due to the presence of leading transportation management system companies in the region. Continuously increasing investments in the technology sector are also positively influencing market growth in the region.
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Key Takeaways from the Market Study:
“To increase capacity, leading providers of transportation management systems are focusing on integrating cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and real-time tracking,” says a Fact.MR analyst.
Growing Popularity of Cloud-based Transportation Management Systems
Cloud-based transportation management systems are in high demand because of their flexibility, scalability, and lower initial costs when compared to on-premise systems. The ease of accessibility to cloud-based systems from any location is one of its main advantages, as it enables remote work and global operations.
TMSs also negate the need for large hardware investments and save maintenance costs because upgrades and support are managed by the service provider. Additionally, because cloud-based TMS technology can swiftly adjust to changing business needs and seamlessly integrate with other cloud applications, it provides businesses with cost-effectiveness and agility.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the transportation management system market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on component (solutions, services), transportation mode (roadways, railways, airways, maritime), deployment (on-premise, cloud), and vertical (manufacturing, retail, healthcare & pharmaceuticals, transportation & logistics, energy & utilities, government), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Key Companies Profiled:
Oracle Corporation; SAP; Manhattan Associates; C.H. Robinson; Trimble Inc.; Bluejay Solutions; MercuryGate International; Blue Yonder; Transplace; Descartes Systems Group; E2open, LLC; Alpega Group; 3Gtms Inc.; 3T Logistics & Technology Group; Globaltranz Enterprises, LLC; InMotion Global, Inc.; vTradEx; MP Objects; Logistically, Inc.; One Network Enterprises; Elemica, Inc.; Tailwind Transportation Software Ltd.; IntelliTrans Limited; Allotrac; Revenova, LLC; Fretron Private Limited; RateLinx; Tracx Systems; WiseTech Global; Princeton TMX; CTSI Global; Generix Group; Unifaun; Supplystack; Efreightsolutions; Ultraship TMS; Infor; 3SC Solutions; MODE Global.
Industry News:
In April 2024, the top provider of specialized transportation and logistics management solutions, MercuryGate International, Inc., was acknowledged in the most recent Gartner Magic Quadrant for Transportation Management Systems report's Challengers Quadrant for its Ability to Execute and Completeness of Vision. MercuryGate has received recognition for its TMS solutions for the fourteenth time in a row in 2024.
In April 2024, one of the top logistics firms globally, MODE Global, a multi-billion dollar, multi-brand 3PL platform, announced a partnership with Transporeon, a Trimble Company. The partnership intends to use Transporeon's Autonomous Procurement to tender both spot and dedicated freight by utilizing automation. It will be rebranded as MODE Global Marketplace and white-labeled as a premier transportation management platform.
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A Transportation Management System (TMS) is a software solution that helps businesses manage their logistics and transportation operations, optimizing delivery routes and improving supply chain efficiency.
Cloud-based technology refers to services and applications that are hosted on the internet rather than on local servers, allowing for flexible access and scalability.
Logistics coordination involves managing the flow of goods and services, ensuring that products are delivered efficiently and on time to meet customer demands.
Delivery route optimization is the process of determining the most efficient routes for transporting goods to reduce costs and improve delivery times.
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