According to a new market research report ”Transportation Management System Market by Transportation Mode (Railways and Roadways), Component (Solution Type, Hardware, and Services), Deployment Mode (Hosted and On-premises), Application, and Region - Global Forecast to 2022", published by MarketsandMarkets™, 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%.
The growth of the global transportation management system market is driven by various factors, such as the revolution of industries due to digitization, rapid urbanization, and rising congestion in the metro cities. The growing population and congestion in urban areas are in turn increasing the demands for transportation management systems.
Browse 111 market data Tables and 56 Figures spread through 161 Pages and in-depth TOC on "Transportation Management System Market by Transportation Mode (Railways and Roadways), Component (Solution Type, Hardware, and Services), Deployment Mode (Hosted and On-Premises), Application, and Region – Global Forecast to 2022"
Major Key Companies
Major vendors offering transportation management solutions and services include SAP SE (Germany), Oracle (US), Manhattan Associates (US), Descartes (Canada), JDA Software (US), CTSI-Global (US), Inet-Logistics GMBH (Austria), BluJay Solutions (UK), MercuryGate International (US), and Efkon AG (Austria).
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.
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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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Key Target Audience for Transportation Management System Market
- Government agencies
- Transportation management system solutions/services vendors
- Application developers
- Information Technology (IT) managers
- System integrators
- Managed networking solution providers
- Application end-users
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