NEW YORK, Oct. 13, 2023 /PRNewswire/ — The Transportation Management Systems (TMS) Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the transportation management systems (TMS) market between 2022 and 2027 is USD 3.70 billion.
The increasing number of smart-connected devices is notably driving the transportation management systems market growth. The number of smart connected devices is increasing worldwide, and the total number of smart devices installed is also growing. Furthermore, it becomes difficult for organizations to manage, monitor, and maintain data, as the number of devices is increasing. As a result, the demand for M2M and M2H communications will increase because it helps the customers simplify the management, monitoring, and maintenance of these connected devices. Hence, these factors are expected to drive the market’s growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
- Market Challenge –
- Data privacy concerns are the major challenge impeding the TMS market growth.
- The organization devices are connected to the internet and depend on public and private networks and are facing the major challenge of privacy and security concerns.
- In addition, a TMS network spans multiple devices, which can lead to interoperability issues within an organization.
- The potential financial damage that occurs from industrial cyberattacks is significant compared to personal data breaches.
- Hence, the potential for cyber breaches will reduce TMS adoption and will restrict the growth of the transportation management systems market during the forecast period.
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The transportation management systems (TMS) market is segmented by Solution (On-premise and Cloud-based), Mode Of Transportation (Roadways, Railways, and Airways), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
- By solution, the market share growth in the on-premise segment will be significant during the forecast period. On-premises solutions are considered more secure than cloud-based solutions. This market is dominated by large organizations. These organizations are more focused on system functionality than working on cost-effectiveness. These organizations help customers to deal with critical data. As a result, they are increasingly relying on an on-premises model with more secure end-to-end quality control.
- By geography, North America is expected to contribute 37% to the global TMS market growth during the forecast period. View the FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Transportation Management Systems (TMS) market:
3M Co., 3T Logistics Ltd., Alpega SA NV, C H Robinson Worldwide Inc., Continental Traffic Service Inc., Descartes Systems Group Inc., E2open Parent Holdings Inc., GlobalTranz Enterprises LLC, Koch Industries Inc., Manhattan Associates Inc., MercuryGate International Inc., Next Generation Logistics Inc., Omnitracs LLC, One Network Enterprises Inc., Oracle Corp., Panasonic Holdings Corp., QAD Inc., SAP SE, Trimble Inc., Uber Technologies Inc.
The Europe – Road Freight Transportation Market is estimated to grow at a CAGR of 2.69% between 2022 and 2027. The market size is forecast to increase by USD 40.68 billion.
The intermodal freight transportation market size is estimated to grow at a CAGR of 6.64% between 2022 and 2027. The market size is forecast to increase by USD 56.12 billion.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Solution
Market Segmentation by Mode of Transportation
Market Segmentation by Geography
Drivers, Challenges, & Trends
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