Information Communication and Technology Reports Transportation Management System Industry

Transportation Management System Market is expected to
grow from USD 78.20 Billion in 2017 to USD 202.14 Billion by
2022
According to a new market research report” Transportation Management System Market by Transportation
Mode (Railways and Roadways), Component (Solution Type, Hardware, and Services), Deployment Mode
(Hosted and On-premises), Application, and Region - Global Forecast to 2022", published by
MarketsandMarkets™, The global transportation management system market is expected to grow from USD 78.20
Billion in 2017 to USD 202.14 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.9%.
The growth of the global transportation management system market is driven by various factors, such as the
revolution of industries due to digitization, rapid urbanization, and rising congestion in the metro cities. The
growing population and congestion in urban areas are in turn increasing the demands for transportation
management systems.
Browse and in-depth TOC on “Transportation Management System Market”
111 - Tables
56 - Figures
161 - Pages
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The real-time economy demands faster and timely execution of business processes in every industry, especially in
the supply chain, logistics, and transportation industries. This is expected to drive the growth of the transportation
management system market. Speed, timing, efficiency, and optimization are the crucial factors in logistics and
transportation, which are now achievable due to the adoption of digital technologies. With the adoption of digital
technologies, transportation vendors and third-party providers have reduced the overall transportation costs and
minimized delivery errors.
Support and maintenance services segment is expected to grow at the highest CAGR during the forecast period.
The transportation management support and maintenance services segment is expected to have a promising
future as the transportation management market is rapidly evolving and therefore, requirements for proper pre
and post-sales services, such as design and implementation, maintenance, and overall training and system support
will run high. Hence, service providers are focused on delivering dedicated services by understanding buyer
demands and needs.
Travel and tourism application segment is expected to have the largest market size by the end of the forecast
period.
Various travel agencies are installing web portals to provide easy access to their customers for planning their
journeys. People are interested in exploring places. In addition to this, travel and tourism is one of the highest
revenue generators for many countries. Therefore, the adoption of transportation management systems in the
travel and tourism segment is expected to gain pace, resulting in future growth.