The global Transportation Management System Market is expected to grow from USD 78.20 billion in 2017 to USD 202.14 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.9%. Digital technologies are transforming the transportation business landscape, thereby encouraging transportation management system vendors and third-party providers to adopt digitized systems for transportation activities. This is expected to drive the growth of the transportation management system market. Urbanization has caused a population shift from rural to urban areas. This shift has resulted in several problems for commuters, transit operators, and regional transport authorities. The prevalent transportation problems include traffic congestion and parking difficulties. Transportation management solutions help curb such issues.
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The regional markets in North America and Europe are expected to be the main revenue contributors in the transportation management system market as these regional markets are the first to experience the benefits offered by transportation management systems. These regions also host the major market players and are open to technology-related innovations. The emerging economies in the Asia Pacific (APAC) and Middle East and Africa (MEA) regions offer several untapped and unexplored opportunities for transportation management vendors. Among the regions, APAC is expected to witness the fastest growth rate in the transportation management system market during the forecast period due to increasing digitalization of the industries situated in the region.
On the basis of applications, the transportation management system market is broadly classified into consumer goods and retail, parcel and package, fire station, hospital, travel and tourism, mining, and others. The others segment includes food and beverage, and electronics and electricals. The fire station application segment is expected to grow at highest CAGR during the forecast period. This growth is mainly attributed to the increasing deployment of transportation management systems in fire stations to improve the response time in emergency situations. The various solutions that are integrated into transportation management systems include notification and paging, video and alarm management systems, fire station alerting systems, and record management systems.
Among the components, the services segment is expected to grow at the highest CAGR during the forecast period. Under services, the support and maintenance services segment offers the essential tools needed for the timely maintenance, monitoring, and application updates of transportation management systems. The support and maintenance services segment is expected to have a promising future as the transportation management market is evolving rapidly and needs organized pre and post-sales services, such as design and implementation, maintenance, and overall training and system support. Hence, service providers are focused on understanding buyer demands and needs to deliver dedicated services.
On the basis of deployment modes, the transportation management system market is segmented into hosted and on-premises deployments. Out of the 2, the hosted deployment mode is expected to grow at the highest CAGR during the forecast period. Organizations adopt on-premises solutions to have full control over enterprise infrastructure and assets and to ensure robust security. The large costs associated with on-premises implementations along with the expenses involved in IT expansion may hinder the adoption of on-premises solutions in Small and Medium-Sized Enterprises (SMEs).
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Companies providing transportation management system solutions are Oracle Corporation, SAP SE, Manhattan Associates, Descartes, JDA Software Group, Inc., CTSI Global, Inet Logistics GmbH, Kewill, Lean Logistics, Inc., and MercuryGate International. The major companies in the transportation management system market have adopted the strategy of new product launches, mergers and acquisitions, business partnerships, agreements, and expansions to expand their product portfolio and distribution network. Companies have integrated their individual solutions to offer a highly advanced and a complete suite of transportation management system solutions to cater to the growing market. The transportation management system research report analyzes global adoption trends, future growth potentials, key drivers, competitive outlook, restraints, opportunities, market ecosystem, market evolution, porter’s five forces analysis, and the value chain in this market.
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