How Much Is The Transportation Management System Industry Worth? January 13, 2022
Transportation Management Systems Market:
According to a new market report published by Transparency Market Research the global market for transportation management systems, which stood at US$
12,249.9 Mn in 2018, is anticipated to expand at a healthy CAGR of 14.3% during the period from 2020 to 2030, increasing the opportunity in this market to US$ 59,748.5
Mn by the end of the forecast period. The transportation and logistics application segment has emerged as the key end user of transportation management systems and is expected to retain its position over the next few years.
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Growing Popularity of Software-As-A-Service Based TMS Solutions are driving the global transportation management systems market:
“Increasing use of cloud computing technologies for managing supply chain activities is one of the major trends prevailing in the transportation management systems market across the globe,” says the author of this report. Fast and easy deployment, limited capital expense, and better total cost of ownership as compared to on-premise software delivery model are driving end-users towards cloud-based TMS solutions. The growing popularity of software-as-a-service (SaaS)-based TMS solutions is the major factor driving the TMS sales growth. Growing preference for SaaS-based TMS solutions among logistics and transport companies is due to the benefits offered such as easy and quick installation and low total cost of ownership.
Other factors including growth in the intermodal transport and growing need to replace traditional and aging transportation management solutions is expected to support the demand for advanced transportation management systems, fueling the market momentum. However, lack of awareness regarding benefits associated with advanced TMS capabilities among end-users has hampered the growth of the TMS market. Advancements in the cloud computing and integration of Radio Frequency