May 27, 2020
According to the research report titled ‘Global Transportation Management System Market Size study, by Transportation mode (Railways, Roadways, Airways, Maritime), by Component( Solution type, Hardware, Services), by Application( Consumer goods and retail, Parcel and package, Fire station, Hospital, Travel and tourism, Mining, Others), by Deployment mode( Hosted, On-premises) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global transportation management system market was worth USD 70 billion in the year 2019 and is reckoned to witness a y-o-y growth rate of 16% between 2020 and 2026.
For the record, TMS (transportation management system) helps in streamlining the transportation process by eliminating human error and improving the efficiency of the business. The technology helps in measuring and reporting complete shipping data, monitoring vendor & carrier achievements, improving routing & mode as well as providing end-to-end visibility of transportation activities.
Digitalization of transportation sector has boosted the sales graph of transportation management system industry. Development of RFID (radio-frequency identification) as well as various collaboration platforms have compelled TMS providers to develop innovative solutions for faster and timely accomplishment of business processes in several industries.
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Transportation management system offers speed, timing, efficiency, and optimization which play a vital role in transportation and logistics operations. Moreover, rapid digitalization of the transport industry has also compelled TMS vendors as well as third-party sources to integrate technically advanced systems in supply chain and transportation activities. In January 2017 for instance, MercuryGate International launched its Logistics Integrator Program to incorporate the proficiency of TMS technology with pre-certified LSPs (logistics service providers). Similarly, Oracle integrated new features to its logistics cloud solutions, OTM (Oracle Transportation Management) as well as GTM (Oracle Global Trade Management) Cloud. These new features are predicted to modernize the transportation processes while improving the performance and decreasing the order cycle times.
Additionally, emergence of Big Data and IoT has also positively impacted the market size. However, high costs of installation and integration of transportation management systems may inhibit the market expansion.
As per the regional analysis, the transportation management system industry in North America accounts for a substantial share of the global market as of 2020, primarily due to rising incorporation of route planning and GPS systems. On the other hand, the Asia-Pacific market is expected to register significant growth during the analysis timeframe. Rising number of international trade activities in India and China and improving economic conditions are swaying the business dynamics in the region.
The prominent companies operating in global transportation management system industry are Efkon AG, Mercury Gate International Inc., BluJay Solutions, Inet-Logistics GmbH, CTSI-Global, JDA Software Inc., Descartes Systems Group, Manhattan Associates, Oracle Corp., and SAP SE among others.