New York, Nov. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Transportation Management Systems Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06364847/?utm_source=GNW
, Alpega Group, MercuryGate International Inc., SAP SE, Blue Yonder , Infor , International Business Machines Corporation, Cerasis Inc., Transplace, and Revenova TMS.
The global transportation management system market is expected to grow from $8.21 billion in 2021 to $9.51 billion in 2022 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The transportation management system market is expected to grow to $17.12 billion in 2026 at a compound annual growth rate (CAGR) of 15.8%.
The transportation management system market consists of sales of transportation management systems by entities (organizations, sole traders, and partnerships) that are used to assist a range of companies in optimizing and executing the physical transportation of goods, both outgoing and incoming, as well as ensuring that the shipment is compliant and that proper documentation is available.A transportation management system (TMS) is a platform for streamlining the transportation process, which is a part of the supply chain.
It involves the organizing, monitoring, managing, and handling of any functions related to the transportation of products from placing the order to the final delivery.
The main components of transportation management systems are solutions and services.Solutions refer to those that are used for assisting in the optimization of the overall supply chain process, resulting in increased profit margins and growth in the transportation industry.
These can be deployed through on-premise and cloud. These systems are used in modes of transportation such as roadways, railways, waterways, and airways and by industry verticals that include retail, healthcare and pharmaceuticals, manufacturing, energy and utilities, the government sector, and other industry verticals.
North America was the largest region in the transportation management system market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in transportation management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The demand for efficient transportation solutions is expected to propel the growth of the transportation management systems market going forward.Efficient transportation solutions refer to alternatives to single-occupancy vehicles that include improved transportation options and make streets safer for drivers, pedestrians, cyclists, and transit users.
Demand for efficient transportation solutions compels the transport management systems market to come up with better solutions and services for their customers.For instance, according to the Ministry of Road Transport and Highways, an Indian rule-making body, in June 2021, the number of registered motor vehicles per thousand people increased to 225 vehicles 2019, indicating an improvement in the public’s accessibility to transportation options and thereby increasing the demand for efficiency of the transportation solutions.
With an annual production of over 26.4 million vehicles in 2019, the auto industry is expanding quickly. Therefore, the demand for efficient transportation solutions is driving the transportation management systems market.
Technological advancements in the transportation and logistics industry are the key trend gaining popularity in the transport management systems market.Major companies operating in the transport management systems market are coming up with new technologies to sustain their position in the transport management systems market.
For instance, in February 2022, MercuryGate International Inc., a US-based provider of transportation management system software solutions, launched its new product map with key delivery and intelligence features. This new platform includes embedded analytics, artificial intelligence, and machine learning and has a new graphical user interface that has remediating capabilities from the TMS control tower. MercuryGate customers can meet local, national, and international supply chain requirements by utilizing smart transportation features to get information regarding all shipment data.
In September 2021, E2open Parent Holdings, Inc. a US-based network-based provider of cloud-based, mission-critical, end-to-end supply chain management platforms acquired BluJay Solutions for a deal amount of $770 million. BluJay’s acquisition significantly boosts E2open’s supply chain execution capabilities, particularly in transportation management and logistics and acquires new clients, and strengthens their global reach. Bluejay Solutions is a software company that provides solutions for supply chain management and transportation management.
The countries covered in the transportation management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The transportation management systems market research report is one of a series of new reports that provides transportation management systems market statistics, including transportation management systems industry global market size, regional shares, competitors with a transportation management systems market share, detailed transportation management systems market segments, market trends and opportunities, and any further data you may need to thrive in the transportation management systems industry. This transportation management systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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