(MENAFN Editorial) Market Overview:
Transportation management system market is estimated to exhibit high growth potential during the forecast period owing to its increasing demand across various industry verticals. Increasing business agility and growing adoption of upcoming technologies is another major factor driving the growth of the transportation management system market. SAP SE, Oracle Corporation, Manhattan Associates, Descartes, JDA Software, Inc. and CTSI-Global are some of the leading players in the market. SAP has upgraded its transportation management system and warehouse management system platforms for e-commerce performance which offers easy support to cloud-based data and the Internet of Things. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements.
The global transportation management system market is segmented on the basis of component, transportation mode, deployment, and application. The application segment is further classified into consumer goods & retail, fire station, hospital, mining, travel & tourism, and others. The travel and tourism application sub-segment is expected to hold the largest market share of the overall transportation management system market. This is owing to the increasing installation of web portals in order to provide easy access to customers to efficiently plan their journeys. Travel and tourism industry is also one of the highest revenue generators across many countries. Technological advancements in information and communication aspects of transportation management systems such as Wi-Fi, NFC RFID and others are responsible for driving the growth of transportation management system market. However, security concerns and insufficient investment in transportation infrastructure, and lack of appropriate technical expertise are major factors that could cause hindrance in the growth of global transportation management system market. Also, other complexities associated with data management issues may hamper the market growth.
According to Market Research Future Analysis, the global transportation management system market is estimated to generate revenue of approximately USD 235 billion by 2023 growing at a CAGR of 20% during the forecast period 2017-2023.
Transportation Management System Market
Source: MRFR Analysis
Some of the key players in the market: SAP SE (Germany), Oracle Corporation (U.S.), Manhattan Associates (U.S.), Descartes (Canada), JDA Software, Inc. (U.S.), CTSI-Global (U.S.), Inet-Logistics GMBH (Austria), BluJay Solutions (U.K), MercuryGate International, Inc. (U.S.), Efkon AG (Austria), Metro Infrasys Private Limited (India), and TMW Systems, Inc. (U.S.) among others.
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