Research Nester assesses the growth and market size of the global transportation management system market which is anticipated to be on account of the rising demand for efficient and cost-effective transportation management systems, increasing adoption of cloud-based technologies
New York – May 22, 2023 – Research Nester’s recent market research analysis on “Transportation Management System Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global transportation management system market in terms of market segmentation by deployment, component, transportation mode, end-use and by region.
The Rapid Development of Industry 4.0 to Promote Global Market Share of Transportation Management Systems
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As a result of Industry 4.0's rapid development, the global transportation management system market is expected to grow significantly. A survey by IoT Analytics on Industry 4.0 adoption showed that 25% of use cases were fully or extensively implemented by enterprises worldwide. Industry 4.0 is the automation of manufacturing processes with the help of various digital technologies, such as the Internet of things, artificial intelligence, robotics, and other advanced technologies. This allows companies to better manage their transportation processes, resulting in increased efficiency and cost savings. This, in turn, is driving the growth of the global transportation management system market.
Some of the major growth factors and challenges that are associated with the growth of the global transportation management system market are:
Growth Drivers:
- Increasing demand for efficient and cost-effective management of global shipments and logistics
- A growing number of industrial applications are using RFID technologies to improve accuracy
Challenges:
The transportation management system market size is predicted to be hindered by concerns about data security. As TMS store and manage large amounts of sensitive data, there is an increased risk of data theft and data breaches. Companies are investing heavily in data security solutions to protect their data, which is increasing the cost of implementing and managing transportation management systems.
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The global transportation management system market is segmented by deployment type into cloud and on-premise. Over the forecast period, the cloud segment is expected to generate the highest revenue by 2035. In business environments that require sophisticated data management and analytics, cloud technology allows access to a wide range of services, allows for scalability, reduces costs, and improves efficiency. Additionally, cloud-based systems require minimal IT infrastructure and maintenance costs. This has made cloud-based solutions increasingly attractive to transportation companies, which is driving the growth of the segment.
North America is expected to generate the highest revenues by 2035 from transportation management systems. This growth is anticipated by the increasing demand for efficient transport management systems in the region, the rise in freight transportation, and the increasing number of intelligent transport systems. Moreover, the availability of advanced technologies, such as artificial intelligence and machine learning, is likely to further drive the market in North America. One of the world's largest shipping, receiving, and supply chain management companies, United Parcel Service was founded in 1907. The use of a TMS provides real-time data and analytics on the movement of goods, enabling companies to optimize their supply chain and logistics operations. This helps increase the efficiency of exports and imports, reducing costs and increasing profits.
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This report also provides the existing competitive scenario of some of the key players of the 3GTMS, BluJay Solutions Ltd., MercuryGate International, Inc., Oracle Corp., SAP SE, Cerasis, Inc., inet-logistics GmbH, Infor Inc., JDA Software Group, Inc., Manhattan Associates.
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