The global transport management system market was valued at more than USD 1 million in 2016 and is expected to reach close to USD 2 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global transport management system market to its enterprise application portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Descartes, JDA Software, Manhattan Associates, Oracle, and SAP.
According to Amit Sharma, a lead analyst for enterprise application research at Technavio, “The demand for transportation software and applications is primarily driven by the increasing global trade activities. TMS helps corporations to adapt to the dynamic global transportation environment and reduces costs for shippers and carriers.”
TMS helps shippers and carriers to improve the entire transportation and logistics operations to achieve on-time delivery. The increase in various manufacturing sites at different locations will furthermore boost the demand for TMS in the market. The vendors are also providing on-demand and updated TMS solutions to increase their market share and profitability.
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SaaS-based TMS solutions continue to gain traction
SaaS-based platforms help companies to increase their reach across the world, handle multimodal transportation requirements, improve warehousing efficiency, and accelerate business growth. The companies have to pay annual subscription fees that help them reduce costs of operations and lower labor costs.
Integration of TMS with IoT and cognitive computing
The companies in the transportation sector are using advanced computing solutions such as telematics, smart sensors, cognitive computing, and artificial intelligence to build IoT-based IT infrastructure. The use of these advanced solutions to build next-generation transport systems with reduced energy consumption levels and minimum carbon emissions help lower labor costs and streamline multiple operations.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Transport Management System Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global GIS Market in the Transportation Industry 2016-2020
- Global Intelligent Transport System Market 2016-2020
- Global RTLS Market in the Transportation and Logistics Sector 2016-2020
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