The Transportation management system market is projected to grow from USD 13.5 billion in 2023 to USD 33.3 billion by 2028, at a CAGR of 19.7% from 2023 to 2028, according to news research report by MarketsandMarkets™
The demand for transportation management system solutions is anticipated to rise due to the growing need for management systems across the verticals for cost reduction and improving operational efficiency.
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Manhattan Associates provides enterprise SCM solutions that offer enterprises flexibility and scalability. It is involved in developing, deploying, selling, and maintaining software solutions for managing supply chains, inventory, and omnichannel operations for retailers, wholesalers, manufacturers, logistics providers, etc. The company provides a reliable, cost-effective infrastructure to enhance business operations. It operates through three segments: software license, services, hardware, and others.
Manhattan Associates offers a portfolio of supply chain solutions that consist of demand management, order management, labor management and planning, transportation management, and inventory management and planning. To enable enterprises to manage all transportation functions, the company caters to transportation and logistics management solutions in the cloud or on-premises across the network. It includes freight and billing conciliations and freight tracking and tracing capability. It also supports private fleet and common carrier management. Manhattan TMS solution suite offers transportation planning, optimization, and execution technology.
C.H. Robinson is a prominent player in transportation management and provides one of the world’s largest logistics platforms. It also offers logistics services, such as truckload, less than truckload, ocean shipping, air freight, customs brokerage, trade compliance services, and TMS for SMEs and large enterprises. The company delivers smarter solutions to over 119,000 customers and 78,000 contract carriers worldwide through its multimodal TMS. The company offers its solutions to various industries, including automotive, chemical and plastics, energy, food, beverage, government, education, healthcare, manufacturing, paper, packaging, transportation, warehouse, and technology and electronics logistics.
Market Players
The major vendors covered in the transportation management system market include Oracle (US), SAP (Germany), Manhattan Associates (US), C.H. Robinson (US), Trimble (US), WiseTech Global (Australia), Descartes (Canada), E2open (US), Generix Group (France), MercuryGate (US), Blue Yonder (US), Uber Freight (US), Alpega Group (Belgium), Worldwide Express (US), Infor (US), 3Gtms (US), Shipwell (US), 3T Logistics & Technology Group (UK), Ratelinx (US), oTMS (China), nShift (UK), BlueRock Logistics (Netherlands), Elemica (US), TESISQUARE (Italy), DDS Logistics (France), vTradEx (China), Shiptify (France), GlobalTranz (US), InMotion Global (US), Kinaxis (Canada), Logistically (US), One Network Enterprises (US), IntelliTrans (US), Allotrac (Australia), Revenova (US), Princeton TMX (US), CTSI Global (US), and PCS Software (US).
By offering, the solutions segment holds the largest market size during the forecast period.
Based on solutions, the TMS market is segmented into planning and execution; order management; audit, payment, and claims; analytics and reporting; and routing and tracking. These solutions assist end users in addressing transportation needs for their businesses with reduced costs while improving operational performance. The rise of digitization and the use of cloud computing in recent years have increased the demand for TMS solutions across the globe. The emergence of domestic and international eCommerce has further boosted the growth of the solutions segment.
By transportation mode, the maritime segment is projected to register the highest CAGR during the forecast period.
The adoption of TMS solutions and services in the marine sector is driven by the fact that more than 80% of global trade is conducted by sea, making it the most significant mode of international freight transportation. International maritime transport costs tend to be between two to three times as high as the customs duties of importing countries. Still, maritime transport is the cheapest way of transporting many goods. The price of container shipping depends on the route and the current economic situation. Hence, TMS helps route optimization to avoid unnecessary international charges and tariffs, saving shipping costs and time.
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By region, the Asia Pacific region has the highest growth rate in the Transportation Management System market
In the Asia Pacific, developing countries are expected to experience significant growth, primarily in automating transportation and supply chains. Most of the countries in the Asia Pacific are shifting their focus on improving safety, operational efficiency, and passenger comfort by reducing travel time congestion. The Asia Pacific is witnessing high growth due to increasing global competition, the growing penetration of smart devices and connected machines, and the rising investments in smart cities. High economic growth in developing countries, such as India, China, and Vietnam, has increased the number of connected solutions that consist of sensors and RFID tags, resulting in a sudden outburst of vast amounts of data. TMS is a prominent feature in this region's growing transportation and logistics sector. Hence, Asia Pacific is the current hotspot of the TMS market and attracts several companies.
The report "Transportation Management System (TMS) Market by Component (Solutions and Services), Transportation Mode (Roadways, Railways, Airways, and Maritime), Deployment Type (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2025 ", is expected to grow from USD 7.7 billion in 2020 to USD 17.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period.
The major factors driving the growth of the TMS industry include Technological advancements in the transportation and logistics industry and exponential growth in the eCommerce industry.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=232446179The large enterprise segment to hold the largest market size during the forecast periodThe adoption of TMS solutions and services is higher in large enterprises, and the trend is expected to continue during the forecast period.
TMS systems offer a single centralized system, with features such as route optimization, carrier tracking, analytics, order management, and account settlement.
Hence, large enterprises heavily invest in advanced technologies to increase their overall productivity and efficiency.
The demand for flexible, scalable, and convenient services by large enterprises is expected to encourage the market players to come up with newer technologies and innovative solutions.Healthcare and Pharmaceutical to record the fastest growth rate during the forecast periodHealthcare enterprises are facing a huge demand due to pandemic.
However, supply chain and logistics disruptions across the globe are making it difficult for enterprises to cater to this demand.
Transportation Management System (TMS) Market-OverviewThe development of the transportation sector is predicted to bolster the transport management system market 2020.
The ICT industry reports are produced by Market Research Future, which highlights market options for expansion.
The necessity to efficiently capture the real-time data is projected to improve the TMS market in the impending period.Segmental Analysis The segmental investigation of the transport management system market is conducted on the basis of component, deployment, industry, and region.
Based on the components, the transport management system market is segmented into services, solutions, and hardware.
The transportation management system market is likely to record a CAGR of 5.9% for the duration of the forecast period.
Soaring investments by the domestic e-commerce sector, implementation of IoT based fleet management solutions, and augmentation of smart logistics are the factors inspiring the market augmentation in the region.Competitive AnalysisThe state of the market is exceptionally indecisive due to the effect of the macro factors operating in the global economy.
