11.24% CAGR Growth in Transportation Management Systems (TMS) Market by Solution (on-premise and cloud-based … – PR Newswire

NEW YORK, Feb. 1, 2024 /PRNewswire/ -- Thetransportation management systems (TMS) marketis estimated to grow byUSD 3.70 billion from 2022to 2027, according to Technavio. The market is estimated to grow at a CAGR of 11.24% during the forecast period.The market share growth by theon-premisesegmentwill be significant during the forecast period.Large organizations dominate the on-premises solutions market due to their focus on data security over cost-effectiveness. These solutions, installed on the organization's infrastructure, ensure end-to-end quality control and are preferred for handling critical data. They generate revenue through one-time perpetual licenses and offer greater customization and control. In today's risk-conscious environment, the emphasis on risk management has driven the demand for on-premises solutions, particularly among less price-sensitive buyers prioritizing security.

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Technavio has segmented the market based onSolution (On-premise and Cloud-based), Mode of Transportation (Roadways, Railways, and Airways), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).

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Increasing number of smart-connected devicesis a key factor driving growth.The increasing complexity of managing multiple devices drives the demand for machine-to-machine (M2M) and machine-to-human (M2H) communications. TMSutilize various technologies like RFID and GPS to efficiently monitor and manage physical assets, leading to improved business processes and real-time decision-making. The global rise in connected devices is a key driver of TMS demand.

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Transportation Management Systems (TMS) Benefits

Transportation Management Systems (TMS) offer various benefits across logistics and supply chain management. These systems streamline freight management, fleet management, and shipment tracking, optimizing routes and enhancing warehouse and inventory management. TMS also facilitates carrier management, freight brokerage, and freight visibility, supporting transportation planning and efficient billing and payment processes. They enable load tendering, multi-modal transportation, and last-mile delivery, all while providing real-time analytics and demand forecasting. Additionally, TMS helps manage transportation costs, ensure compliance, and facilitate electronic data interchange (EDI). They support cross-docking, reverse logistics, inbound and outbound logistics, and supply chain visibility, along with company management and load consolidation. TMS also excels in handling intermodal and international transportation needs.

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ToC:

Executive Summary

Market Landscape

Market Sizing

HistoricSizes

Five Forces Analysis

Segmentation by Solution

Segmentation by Mode of Transportation

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers,Challenges, &Trends

Company Landscape

Company Analysis

Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emergingtrends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize theirpositions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionableinsights to identify opportunities in existing and potential areas and assess their competitive positions within changingscenarios.

Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [emailprotected] Website: http://www.technavio.com

SOURCE Technavio

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11.24% CAGR Growth in Transportation Management Systems (TMS) Market by Solution (on-premise and cloud-based ... - PR Newswire