Portland, OR, June 23, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global transportation management system market generated $5.46 billion in 2019, and is estimated to garner $11.36 billion by 2027, witnessing a CAGR of 9.6% from 2020 to 2027. The report offers an extensive analysis of changing market trends, top segments, top investment pockets, value chain, and competitive landscape.
Rise of the e-commerce industry and technological innovations across the transportation and logistics industries drive the growth of the global transportation management system market. However, security concerns restrain the market growth. Contrarily, introduction of autonomous and connected vehicles, surge in adoption of cloud technology, and rise of the Industry 4.0 will offer opportunities in the coming years.
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Impact of Covid-19 on Transportation Management System Market:
- There has been an urgency to manage and deliver orders efficiently during the pandemic, which led to adoption of transportation management systems. Moreover, disrupted supply chains and ban on international trade created new challenges.
- Owing to low budgets and requirement to stay connected with the help of technology, companies began deployment of efficient and effective mobility strategies. In addition, they have been determining additional tools for integrating them with current technology to fulfill new shipping needs.
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The report provides detailed segmentation of the global transportation management system market based on component, solution type, deployment model, transportation mode, industry vertical, and region.
By component, the solution segment accounted for the highest market share in 2019, holding nearly three-fourths of the total market share, and will maintain its lead position throughout the forecast period. Moreover, this segment is projected to witness the largest CAGR of 9.7% from 2020 to 2027. The research also analyzes the services segment.
Based on industry vertical, the manufacturing segment contributed to the largest market share in 2019, accounting for nearly two-fifths of the total share, and is estimated to continue its leadership status during the forecast period. However, the healthcare and pharmaceutical segment is expected to witness the largest CAGR of 10.2% from 2020 to 2027.
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Based on region, North America held the highest market share in terms of revenue in 2019, accounting for nearly two-fifths of the total market share of the global transportation management system market, and will maintain its dominance in terms of revenue by 2027. However, Asia-Pacific is estimated to manifest the fastest CAGR of 10.0% during the forecast period.
Leading players of the global transportation management system market analyzed in the research include Oracle Corporation, C.H. Robinson, SAP, BlueJay solutions, Trimble, Blue Yonder, MercuryGate International, 3GTMS, Transplace, and E2Open.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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