Information Communication and Technology Reports Transportation Management System(TMS) Industry

Transportation Management System Market size expected to
grow with a CAGR of 20.9% by 2023 – New Market Research
by MarketsandMarkets
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 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%. Digital technologies are transforming
the transportation business landscape, thereby encouraging transportation management system vendors and
third-party providers to adopt digitized systems for transportation activities. This is expected to drive the growth of
the transportation management system market. Urbanization has caused a population shift from rural to urban
areas. This shift has resulted in several problems for commuters, transit operators, and regional transport
authorities. The prevalent transportation problems include traffic congestion and parking difficulties.
Transportation management solutions help curb such issues.
The regional markets in North America and Europe are expected to be the main revenue contributors in the
transportation management system market as these regional markets are the first to experience the benefits
offered by transportation management systems. These regions also host the major market players and are open to
technology-related innovations. The emerging economies in the Asia Pacific (APAC) and Middle East and Africa
(MEA) regions offer several untapped and unexplored opportunities for transportation management vendors.
Among the regions, APAC is expected to witness the fastest growth rate in the transportation management system
market during the forecast period due to increasing digitalization of the industries situated in the region.
On the basis of applications, the transportation management system market is broadly classified into consumer
goods and retail, parcel and package, fire station, hospital, travel and tourism, mining, and others. The others
segment includes food and beverage, and electronics and electricals. The fire station application segment is