Transportation
Management System Market Size and Industry Forecast 2023 to 2028

The Transportation Management System Market is
projected to grow from USD 13.5 billion in 2023 to USD 33.3 billion by 2028, at
a CAGR of 19.7% from 2023 to 2028, according to news
research report by MarketsandMarkets™

The demand for transportation management system solutions is
anticipated to rise due to the growing need for management systems across the
verticals for cost reduction and improving operational efficiency.

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By offering, the
solutions segment holds the largest market size during the forecast period.

Based on solutions,
the TMS market is segmented into planning and execution; order management;
audit, payment, and claims; analytics and reporting; and routing and tracking.
These solutions assist end users in addressing transportation needs for their
businesses with reduced costs while improving operational performance. The rise
of digitization and the use of cloud computing in recent years have increased
the demand for TMS solutions across the globe. The emergence of domestic and
international eCommerce has further boosted the growth of the solutions
segment.

By transportation
mode, the maritime segment is projected to register the highest CAGR
during the forecast period.

The adoption of TMS
solutions and services in the marine sector is driven by the fact that more
than 80% of global trade is conducted by sea, making it the most significant
mode of international freight transportation. International maritime transport
costs tend to be between two to three times as high as the customs duties of
importing countries. Still, maritime transport is the cheapest way of
transporting many goods. The price of container shipping depends on the route
and the current economic situation. Hence, TMS helps route optimization to
avoid unnecessary international charges and tariffs, saving shipping costs and
time.

By region, the Asia
Pacific region has the highest growth rate in the Transportation
Management System market

In the Asia Pacific,
developing countries are expected to experience significant growth, primarily
in automating transportation and supply chains. Most of the countries in the
Asia Pacific are shifting their focus on improving safety, operational efficiency,
and passenger comfort by reducing travel time congestion. The Asia Pacific is
witnessing high growth due to increasing global competition, the growing
penetration of smart devices and connected machines, and the rising investments
in smart cities. High economic growth in developing countries, such as India,
China, and Vietnam, has increased the number of connected solutions that
consist of sensors and RFID tags, resulting in a sudden outburst of vast
amounts of data. TMS is a prominent feature in this region's growing
transportation and logistics sector. Hence, Asia Pacific is the current hotspot
of the TMS market and attracts several companies.

Market Players

The major vendors
covered in the transportation management system market include Oracle (US), SAP
(Germany), Manhattan Associates (US), C.H. Robinson (US), Trimble (US),
WiseTech Global (Australia), Descartes (Canada), E2open (US), Generix Group
(France), MercuryGate (US), Blue Yonder (US), Uber Freight (US), Alpega Group
(Belgium), Worldwide Express (US), Infor (US), 3Gtms (US), Shipwell (US),
3T Logistics & Technology Group (UK), Ratelinx (US), oTMS (China), nShift
(UK), BlueRock Logistics (Netherlands), Elemica (US), TESISQUARE (Italy), DDS
Logistics (France), vTradEx (China), Shiptify (France), GlobalTranz (US),
InMotion Global (US), Kinaxis (Canada), Logistically (US), One Network
Enterprises (US), IntelliTrans (US), Allotrac (Australia), Revenova (US),
Princeton TMX (US), CTSI Global (US), and PCS Software (US).

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Market Players

The major vendors covered in the transportation
management system market include Oracle (US), SAP (Germany), Manhattan
Associates (US), C.H. Robinson (US), Trimble (US), WiseTech Global (Australia),
Descartes (Canada), E2open (US), Generix Group (France), MercuryGate (US), Blue
Yonder (US), Uber Freight (US), Alpega Group (Belgium), Worldwide Express (US),
Infor (US), 3Gtms (US), Shipwell (US), 3T Logistics & Technology Group
(UK), Ratelinx (US), oTMS (China), nShift (UK), BlueRock Logistics
(Netherlands), Elemica (US), TESISQUARE (Italy), DDS Logistics (France),
vTradEx (China), Shiptify (France), GlobalTranz (US), InMotion Global (US),
Kinaxis (Canada), Logistically (US), One Network Enterprises (US), IntelliTrans
(US), Allotrac (Australia), Revenova (US), Princeton TMX (US), CTSI Global
(US), and PCS Software (US).