The development of the transportation sector is predicted to bolster the transport management system market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. A CAGR of 6.7% is predicted to spur the market in the coming period.
The digitization of the transportation industry is estimated to fuel the transportation management system software development in the upcoming period. The necessity to efficiently capture the real-time data is projected to improve the TMS market in the impending period.
The segmental investigation of the transport management system market is conducted on the basis of component, deployment, industry, and region. Based on the components, the transport management system market is segmented into services, solutions, and hardware. On the basis of deployment, the transport management system market is divided into on-premise and cloud. Based on the industry, the transport management system market is segmented into construction & mining, travel & tourism, healthcare, retail, and others. On the basis of regions, the transport management system market is segmented into Asia-Pacific, the Middle East, North America, Europe, Africa, and South America.
The regional scrutiny of the transportation management system market includes regions such as Asia-Pacific, the Middle East, North America, Europe, Africa, and South America. The North American region was credited for the principal market segment in 2018, with a market worth of USD 1,241.0 million. The transportation management system market is likely to record a CAGR of 5.9% for the duration of the forecast period. The development in the North American market is motivated by the incidence of crucial transportation management solutions suppliers. In addition, the initial adoption of technology and an upsurge in demand for transportation management system from the e-commerce sector in the region are additionally anticipated to boost the augmentation of the transportation management system market in North America. The regional market in Asia-Pacific is anticipated to record the highest CAGR of 8.4% for the extent of the forecast period. Soaring investments by the domestic e-commerce sector, implementation of IoT based fleet management solutions, and augmentation of smart logistics are the factors inspiring the market augmentation in the region.
The Key Players of Global Transportation Management System Market are Oracle Corporation (US), JDA Software Group, Inc. (US), Manhattan Associates Inc. (US), Descartes Systems Group Inc. (Canada), SAP SE (Germany), BluJay Solutions Ltd (US), CTSI-GLOBAL (US), EFKON GmbH (Austria), Alpega Group (Austria), HighJump (US), MercuryGate (US), One Network (US), QAD Precision (US), Cargosmart (Hong Kong), Next Generation Logistics (US) ORTEC (The Netherlands), TMW Systems (US), and Omnitracs, LLC (US).
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