According to a new market research report ”Transportation Management System Market byTransportation Mode (Railways and Roadways), Component (Solution Type,Hardware, and Services), Deployment Mode (Hosted and On-premises), Application,and Region - Global Forecast to 2022", published byMarketsandMarkets™, The global transportation management system market isexpected 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 systemmarket is driven by various factors, such as the revolution of industries dueto digitization, rapid urbanization, and rising congestion in the metro cities.The growing population and congestion in urban areas are in turn increasing thedemands for transportation management systems.
Browse 111 market data Tables and56 Figures spread through 161 Pages and in-depth TOC on "Transportation Management System Market byTransportation 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
Majorvendors offering transportation management solutions and services include SAPSE (Germany), Oracle (US), Manhattan Associates (US), Descartes (Canada), JDASoftware (US), CTSI-Global (US), Inet-Logistics GMBH (Austria), BluJaySolutions (UK), MercuryGate International (US), and Efkon AG (Austria).
The regional markets in North America and Europe are expectedto be the main revenue contributors in the transportation management systemmarket as these regional markets are the first to experience the benefitsoffered by transportation management systems. These regions also host the majormarket players and are open to technology-related innovations. The emergingeconomies in the Asia Pacific (APAC) and Middle East and Africa (MEA) regionsoffer several untapped and unexplored opportunities for transportationmanagement vendors. Among the regions, APAC is expected to witness the fastestgrowth rate in the transportation management system market during the forecastperiod due to increasing digitalization of the industries situated in theregion.
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On the basis of applications, the transportation managementsystem market is broadly classified into consumer goods and retail, parcel andpackage, fire station, hospital, travel and tourism, mining, and others. Theothers segment includes food and beverage, and electronics and electricals. Thefire station application segment is expected to grow at highest CAGR during theforecast period. This growth is mainly attributed to the increasing deploymentof transportation management systems in fire stations to improve the responsetime in emergency situations. The various solutions that are integrated intotransportation management systems include notification and paging, video andalarm management systems, fire station alerting systems, and record managementsystems.
Among the components, the services segment is expected togrow at the highest CAGR during the forecast period. Under services, thesupport and maintenance services segment offers the essential tools needed forthe timely maintenance, monitoring, and application updates of transportationmanagement systems. The support and maintenance services segment is expected tohave a promising future as the transportation management market is evolvingrapidly and needs organized pre and post-sales services, such as design andimplementation, maintenance, and overall training and system support. Hence,service providers are focused on understanding buyer demands and needs todeliver dedicated services.
On the basis of deployment modes, the transportationmanagement system market is segmented into hosted and on-premises deployments.Out of the 2, the hosted deployment mode is expected to grow at the highestCAGR during the forecast period. Organizations adopt on-premises solutions tohave full control over enterprise infrastructure and assets and to ensurerobust security. The large costs associated with on-premises implementationsalong with the expenses involved in IT expansion may hinder the adoption ofon-premises solutions in Small and Medium-Sized Enterprises (SMEs).
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