Published Date: 24-Jan-2022
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According to a new report Global Transportation Management System Market, published by KBV research, The Global Transportation Management System Market size is expected to reach $21.08 billion by 2027, rising at a market growth of 17.0% CAGR during the forecast period.
The Cloud market is expected to witness a CAGR of 17.3% during (2021 - 2027). Cloud-based systems provide superior planning and optimization advantages to vendors, shippers, and logistics providers. In addition, organizations are moving to cloud-based TMS solutions because of their higher and effective configuration capabilities due to the ever-increasing volume of data.
The Retail & E-commerce market is expected to witness highest CAGR of 17.9% during (2021 - 2027). Factor such as massive growth of the retail and e-commerce sectors in nations like India and China is responsible for the growth of this market. China is the leading country in the online sales in APAC, while India would become the fastest-growing e-commerce market harnessing the benefits of massive investments in the e-commerce industry and growing penetration of the smartphone.
The Airways market is expected to witness a CAGR of 17.8% during (2021 - 2027). Different industries such as logistics, retail, healthcare, and e-commerce highly demand timely and efficient delivery of products, which would boost the implementation of TMS solutions for air transportation. As a modern source of transportation, airplanes play a critical function. The most unique element of air transportation is its rapid speed. The planes are capable of flying at a top speed of 500 km/h. Some planes have the ability to travel at supersonic speeds. No other mode of transportation can match its speed. Hence, these factors are anticipated to fuel the growth of the segment during the forecasting period.
The North America market dominated the Global Transportation Management Systems Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8.17 billion by 2027, growing at a CAGR of 16.2% during the forecast period. The Europe market is expected to witness a CAGR of 16.5% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 18.4% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Oracle Corporation, SAP SE, Descartes Systems Group, Inc., Manhattan Associates, Inc., E2open Parent Holdings, Inc., C.H. Robinson Worldwide, Inc., MercuryGate International (Summit Partners), Blue Yonder, and Infor, Inc. (Koch Industries).
By End Use
By Mode of Transportation
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