Global Transportation Management Systems Market Is Set For A Rapid Growth And Is Anticipated To Reach USD 24.1 Billion By 2024

Zion Market Research has published a new report titled “Transportation Management Systems Market by Component (Hardware, Software, and Service), by Mode of Transportation (Roadways, Railways, Airways, and Waterways), by Application (Passenger Transportation and Goods Transportation), and by End-Use Industry (Retail, Travel & Tourism, Construction & Heavy Equipment, Automotive, Government Transportation, Consumer Electronics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global transportation management systems market accounted for USD 11.4 billion in 2017 and is expected to reach USD 24.1 billion globally by 2024, at a CAGR of around 11.5% between 2018 and 2024. 

Transportation management systems help organizations in managing transportation operations such as planning, execution, follow up, and measurement. These systems consist of various modules such as load optimization, route planning, delivery, freight audit, carrier administration, and many more.

Browse the full "Transportation Management Systems Market by Component (Hardware, Software, and Service), by Mode of Transportation (Roadways, Railways, Airways, and Waterways), by Application (Passenger Transportation and Goods Transportation), and by End-Use Industry (Retail, Travel & Tourism, Construction & Heavy Equipment, Automotive, Government Transportation, Consumer Electronics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/transportation-management-system-market

Transportation management systems market is expected to grow owing to the increasing trade between various countries. In 2016, global exports of manufactured goods were valued at USD 11 trillion as compared to USD 8 trillion in 2006. Global exports of agricultural products have increased at an average of 5% per year during the same period. Various countries are taking initiatives for leveraging trade-related activities. Regional free trade agreement between the European Union and North America is expected to propel the transportation management systems market during the analysis period. The global volume of merchandise trade increased by 2.8% in 2016 from 2015. Thus, the growth of transportation management systems market during the forecast timeframe is imminent. 

Investments in the railway sector are expected to leverage the growth of the transportation management systems market during the analysis timeframe. In 2017, the Australian Government announced an investment of USD 20 billion in rail projects. The foreign direct investments (FDI) in Indian railway related components from 2000 to 2017 were USD 897.09 million. Further, the global rail market grew at a rate of almost 3% from 2013 to 2015. It is estimated that about 1500 projects related to rail infrastructure are planned and are valued at USD 2.1 trillion. Thus, the transportation management systems market is anticipated to grow during the estimated timeframe.

The global transportation management systems market is fragmented as per mode of transportation into roadways, railways, airways, and waterways. Airways segment is expected to hold a noteworthy share in the transportation management systems market during the estimated timeframe. The share is attributed to the rising investments in the aviation sector. Further, the transportation management systems market is segmented on the basis of end-user industry into retail, travel & tourism, construction & heavy equipment, automotive, government transportation, consumer electronics, and others. The retail segment is expected to hold a significant share during the analysis period. The share is projected due to the adoption of online shopping. 

The Asia Pacific is anticipated to grow at a considerable rate in the transportation management systems market over the forecast period. The growth is attributed to the rising investments in the retail sector. China and India are projected to make a significant contribution to the regional market. The Middle East & Africa is estimated to make notable contributions in the transportation management systems market during the analysis timeframe. The share is due to the increasing demand for petroleum and other fuels from other regions. Since the Middle East is among the top producers and exporters of petroleum, it is expected that transportation management systems market will propel in the region during the forecast period.

Some of the key participants in the transportation management systems market are Oracle Corporation, SAP SE, TMW Systems, Inc., Efkon AG, Mercurygate International, Inc., CTSI-Global, JDA Software, Inc., Manhattan Associates, Blujay Solutions, and Descartes Systems Group Inc., among others.

The global transportation management systems market is segmented as follows:

Global Transportation Management Systems Market: Component Segment Analysis

• Hardware
• Software
• Service

Global Transportation Management Systems Market: Mode of Transportation Segment Analysis

• Roadways
• Railways
• Airways
• Waterways

Global Transportation Management Systems Market: Application Segment Analysis

• Passenger Transportation
• Goods Transportation 

Global Transportation Management Systems Market: End-Use Industry Segment Analysis

• Retail
• Travel & Tourism
• Construction & Heavy Equipment
• Automotive
• Government Transportation
• Consumer Electronics
• Others

Global Transportation Management Systems Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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