New York, NY, Oct. 08, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Transportation Management Systems Market by Component (Hardware, Software, and Service), by Mode of Transportation (Roadways, Railways, Airways, and Waterways), by Application (Passenger Transportation and Goods Transportation), and by End-Use Industry (Retail, Travel & Tourism, Construction & Heavy Equipment, Automotive, Government Transportation, Consumer Electronics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global transportation management systems market accounted for USD 11.4 billion in 2017 and is expected to reach USD 24.1 billion globally by 2024, at a CAGR of around 11.5% between 2018 and 2024.
Transportation management systems help organizations in managing transportation operations such as planning, execution, follow up, and measurement. These systems consist of various modules such as load optimization, route planning, delivery, freight audit, carrier administration, and many more.
Browse through 123 Tables & 34 Figures spread over 137 Pages and in-depth TOC on “Global Transportation Management Systems Market Size 2017 Analysis: Industry by Type, Share, Top Segments, Key Players and Forecast, 2024”.
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Transportation management systems market is expected to grow owing to the increasing trade between various countries. In 2016, global exports of manufactured goods were valued at USD 11 trillion as compared to USD 8 trillion in 2006. Global exports of agricultural products have increased at an average of 5% per year during the same period. Various countries are taking initiatives for leveraging trade-related activities. Regional free trade agreement between the European Union and North America is expected to propel the transportation management systems market during the analysis period. The global volume of merchandise trade increased by 2.8% in 2016 from 2015. Thus, the growth of transportation management systems market during the forecast timeframe is imminent.
Investments in the railway sector are expected to leverage the growth of the transportation management systems market during the analysis timeframe. In 2017, the Australian Government announced an investment of USD 20 billion in rail projects. The foreign direct investments (FDI) in Indian railway related components from 2000 to 2017 were USD 897.09 million. Further, the global rail market grew at a rate of almost 3% from 2013 to 2015. It is estimated that about 1500 projects related to rail infrastructure are planned and are valued at USD 2.1 trillion. Thus, the transportation management systems market is anticipated to grow during the estimated timeframe.
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The global transportation management systems market is fragmented as per mode of transportation into roadways, railways, airways, and waterways. Airways segment is expected to hold a noteworthy share in the transportation management systems market during the estimated timeframe. The share is attributed to the rising investments in the aviation sector. Further, the transportation management systems market is segmented on the basis of end-user industry into retail, travel & tourism, construction & heavy equipment, automotive, government transportation, consumer electronics, and others. The retail segment is expected to hold a significant share during the analysis period. The share is projected due to the adoption of online shopping.
North America is expected to hold a substantial share in the global transportation management systems market during the analysis period. The U.S. is estimated to make a major contribution in the region. The share is attributed to the rise in the retail sector. Most of the retailing firms have started to invest in online shopping. In 2018, Walmart announced a deal to purchase 77% stake in Flipkart for about USD 16 billion. In 2017, e-commerce retail sales in the U.S. were about USD 453.5 billion, more than 16% as that of 2016. Thus, it is projected that North America will witness a significant rise in transportation management systems market in the near future.
Browse the full "Transportation Management Systems Market by Component (Hardware, Software, and Service), by Mode of Transportation (Roadways, Railways, Airways, and Waterways), by Application (Passenger Transportation and Goods Transportation), and by End-Use Industry (Retail, Travel & Tourism, Construction & Heavy Equipment, Automotive, Government Transportation, Consumer Electronics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/transportation-management-system-market
The European transportation management systems market is driven by the rising exports of motor vehicles. In 2017, the European Union exported about 5.9 million motor vehicles. About 1.16 million motor vehicles were exported to the U.S. in 2017 as compared to 1.2 million in 2016. Further, the total value of export goods by EU-28 was about USD 2.18 trillion in 2017 as compared to USD 2.03 trillion in 2016. Thus, rising exports from the European region will propel the transportation management systems market during the forecast period.
The Asia Pacific is estimated to grow at a significant rate in global transportation management systems market during the forecast period. India and China are expected to have a great future for transportation management systems market. The growth is anticipated owing to the rising investments in the aviation sector. From 2000 to 2017, the overall foreign direct investment in India’s air transport was valued at USD 1,608.51 million. Freight traffic in India grew at a rate of 7.08% from 2006 to 2017. Further, in 2016, China announced an investment of about USD 12 billion in aviation infrastructure. Thus, Asia Pacific will witness a substantial rise in transportation management systems market during the forecast period.
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Latin America is expected to make a significant contribution in the rise of transportation management systems market during the projected timeframe. In 2017, it was estimated that transportation by rail in Brazil comprises 21% of the total freight and is about 30% economical as compared to roads. The government of Brazil also made the initiative to grant investments of more than USD 7.5 billion in the rail sector.
The Middle East & Africa is projected to grow at a remarkable rate in the transportation management systems market during the estimated period. In 2017, petroleum gas was worth USD 48.1 billion and was exported from Qatar, UAE, Saudi Arabia, and Nigeria. The rise in transportation management systems market in the region is still imminent.
Some of the key participants in the transportation management systems market are Oracle Corporation, SAP SE, TMW Systems, Inc., Efkon AG, Mercurygate International, Inc., CTSI-Global, JDA Software, Inc., Manhattan Associates, Blujay Solutions, and Descartes Systems Group Inc., among others.
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The global transportation management systems market is segmented as follows:
Global Transportation Management Systems Market: Component Segment Analysis
- Hardware
- Software
- Service
Global Transportation Management Systems Market: Mode of Transportation Segment Analysis
- Roadways
- Railways
- Airways
- Waterways
Global Transportation Management Systems Market: Application Segment Analysis
- Passenger Transportation
- Goods Transportation
Global Transportation Management Systems Market: End-Use Industry Segment Analysis
- Retail
- Travel & Tourism
- Construction & Heavy Equipment
- Automotive
- Government Transportation
- Consumer Electronics
- Others
Global Transportation Management Systems Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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