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Transportation management system (TMS) is a platform designed to streamline the transportation process, a subpart of the supply chain.

PORTLAND, PORTLAND, OR, UNITED STATE, July 14, 2022 /EINPresswire.com/ -- According to the report, The global transportation management system market was valued at $5,467 million in 2019, and is projected to reach $11,367 million by 2027, registering a CAGR of 9.6% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

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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.

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.

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.

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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.

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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