Transparency Market Research (TMR) has recently published a market study on the global transportation management systems market. The research report, titled “Transportation Management Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022”, pegs the value of the global market at US$6.8 bn in 2013. Over the period from 2014 to 2022, analysts expect this marker to develop at a CAGR of 12.20% and reach an estimated value of US$19.2 bn by the end of the forecast period.
According to the report, the rise in intermodal transportation is fuelling the demand for TMS solutions. The old TMS installations are in dire need of replacements, which is another significant factor driving the demand for transportation management systems. Apart from this, the increasing popularity of SaaS-based TMSs is also expected to stimulate the global transportation management systems market during the forecast period.The lack of awareness regarding TMS among end-use industries, coupled with high cost associated with installation of TMS, is hampering the smooth development of the worldwide transportation management systems, states the research report. However, the market study also states that the rising uptake of cloud computing and the integration of RFID in transportation management is likely to create opportunities for the players operating in this market.
The report states that the on-premises system solutions dominated the global transportation management systems market in 2013 with majority shares. During the forecast period, the on-premise systems market is likely to witness a moderate growth rate, whereas the on-demand systems market is anticipated to exhibit tremendous development.
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Analysts also predict that the on-demand systems market may outpace the on-premises systems market by the end of the forecast period.Transportation and logistics market emerged as the biggest end user of TMSs in 2013, accounting for more than 50% of the overall revenue generated in the global transportation management systems market. The market segment is expected to retain its leading position over the forecast period, notes the market study.
The global transportation management market is also segmented on the basis of geography in the research report. North America dominated the worldwide transportation management systems market in 2013, holding a majority share in terms of revenue. The rise in the demand for SaaS-based TMSs is considered as the main factor driving the growth in North America transportation management systems market. The regional market is likely to maintain its dominance during the forecast period.