The global transportation management system (TMS) market is projected to mushroom in size and expand at a promising CAGR of 20% over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed research report. The growing need of distribution companies, e-commerce enterprises and other businesses to streamline their shipping process would help the TMS market achieve revenue of USD 235 Billion by the end of 2023. TMS market is proliferating on account of improved end-to-end visibility. Vendors can get real-time supply chain visibility and share it with their customers for business advantage. Shippers and vendors have been striving for decades when freight could be tracked on a 224/7/365 basis and ever since its introduction, TMS has been gaining widespread adoption among small to mid-size enterprises.
Moreover, the cloud has been a crucial driver of the TMS market. TMS is now available in the cloud, and in the recent years, an increasing number of ERP giants such as Oracle have forayed into the TMS game. Many ERP vendors now offer TMS as a part of the overall enterprise solution rather than separate software applications. This has encouraged the adoption of TMS on a large-scale and, in turn, driven the market for TMS. Moreover, Vendor innovation and the proliferation of omnichannel distribution and e-commerce have prompted organizations to deploy TMS as a part of their overall supply chain management which is contributing to the growth of the market. TMS solutions reduce global freight spend and increase the ROI dramatically which is also driving the market growth. However, high maintenance charges, insufficient investment for IT infrastructure and data security breaches are restraining factors to the global transportation management system market.
Transportation Management Systems Market Share has been segmented based on component, transportation mode, deployment, licensing type and application. By component, the market has been segmented into solution, hardware, and services. The solution segment has been further segmented into traffic management, operations management, and others. The hardware segment has been additionally segmented into cameras, sensors, and others. The service segment has been further segmented into system integration, training & education and support & maintenance. By transportation mode, the market has been segmented into roadways, railways, seaways, and airways. By licensing type, the market has been segmented into premises licensing, on premises hosted licensing, and hosted licensing. By deployment, the market has been segmented into hosted and on-premise. By application, the market has been segmented into consumer goods & retail, fire station, hospital, mining, travel & tourism, and others.
The main regions covered in the global transportation management system market include Asia Pacific, North America, Europe, and the Rest of the World. North America is projected to account for the largest share of the market owing to technological advancements and high adoption of TMS across various end user industries. Asia Pacific is projected to emerge as the fastest growing market for TMS. Digitization in fast developing countries of Asia Pacific region is fueling the growth of the market. Moreover, untapped regions of the Asia Pacific and the Middle East & Africa region are expected to provide ample growth opportunities over the forecast period.
The global transportation management market is moderately competitive and comprises a number of niche players. The market participants compete on the basis of technology, service, and cost and are implementing various business strategies to gain an edge over the market. The notable players in the global transportation management system market include SAP SE (Germany), Manhattan Associates (U.S.), JDA Software, Inc. (U.S.), Inet-Logistics GMBH (Austria), MercuryGate International, Inc. (U.S.), Metro Infrasys Private Limited (India), Oracle Corporation (U.S.), Descartes (Canada), CTSI-Global (U.S.),BluJay Solutions (U.K), Efkon AG (Austria), and TMW Systems, Inc. (U.S.).
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