The transport management systems (TMS) market to conquer
Portland, OR, June 23, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the global transportation management systems market generated $ 5.46 billion in 2019 and is expected to generate $ 11.36 billion by 2027, with a CAGR of 9.6% from 2020 to 2027. The report offers an in-depth analysis of changing market trends, main segments, best pockets of investment, value chain and competition. landscape.
The boom in the e-commerce industry and technological innovations in the transportation and logistics industries are driving the growth of the global transportation management systems market. However, security concerns are holding back the growth of the market. On the contrary, the introduction of autonomous and connected vehicles, the rise in adoption of cloud technology and the rise of Industry 4.0 will provide opportunities in the years to come.
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Impact of Covid-19 on the transport management systems market:
- It became urgent to manage and deliver orders efficiently during the pandemic, which led to the adoption of transportation management systems. In addition, disrupted supply chains and the ban on international trade have created new challenges.
- Due to low budgets and the demand to stay connected using technology, companies have started to deploy effective and efficient mobility strategies. In addition, they identified additional tools to integrate them with current technology to meet new shipping needs.
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The report provides detailed segmentation of the global transportation management systems market on the basis of component, solution type, deployment model, transportation mode, vertical industry, and region.
By component, the solutions segment accounted for the highest market share in 2019, holding nearly three quarters of the total market share, and will maintain its leading position throughout the forecast period. Additionally, this segment is expected to experience the highest CAGR of 9.7% from 2020 to 2027. The research also analyzes the service segment.
Based on the industry vertical, the manufacturing segment contributed the largest market share in 2019, accounting for nearly two-fifths of the total share, and is expected to maintain its leadership status during the period. forecast. However, the healthcare and pharmaceutical segment is expected to experience the highest CAGR of 10.2% from 2020 to 2027.
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Based on region, North America held the highest market share in terms of revenue in 2019, accounting for nearly two-fifths of the total market share of the global Transportation Management Systems market, and will maintain its dominance in terms of revenue by 2027. However, Asia-Pacific is estimated to exhibit the fastest CAGR of 10.0% during the forecast period.
The major players in the global transportation management systems market analyzed in the research include Oracle Corporation, CH Robinson, SAP, BlueJay, Trimble, Blue Yonder, MercuryGate International, 3GTMS, Transplace, and E2Open solutions.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 verticals, including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverage, Energy & Electricity, semiconductors and electronics, automotive and transport, ICT and media, Aeronautics & Defense, and BFSI.
We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Pawan Kumar, CEO of Allied Market Research is essential in inspiring and encouraging everyone associated with the business to maintain high quality data and to help customers in every way possible to be successful. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.
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