According to a research report "Transportation Management System (TMS) Market 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. Transportation Management System (TMS) Market by component (solution and services), transportation mode, deployment, organization size, vertical, and region. - Global Forecast to 2025" published by MarketsandMarkets. The TMS market size 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% the forecast period.
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The large enterprise segment to hold the
largest market size during the forecast period
The 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 period
Healthcare 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. Geographically dispersed locations, frequent delivery schedules, and
coordination specifications, and logistics requirements are affecting internal
capabilities and lowering operating margins. Hence, healthcare enterprises are
turning to TMS solutions to tackle these challenges. Pharmaceutical goods are
highly specialized, sensitive, life-impacting, and thus pharmaceutical
transportation needs to be highly performant, secure, and controllable.
Considering the nature of pharmaceutical goods, it needs safe handling,
packaging, and transporting. It also involves customer-specific documentation
and dangerous goods documents. Hence, traceability and visibility play an
important role in the pharmaceutical supply chain. This also helps in
preventing thefts, counterfeiting, contamination, or damage due to disruptions
in the chain. TMS offers high visibility, route optimization, and tracking
solutions that can tackle above challenges.
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APAC
is projected to be the fastest-growing region during the forecast period
The
TMS market in APAC is expected to grow at the highest growth rate during the
forecast period. Intrinsic strength, progressive trade agreements among
countries, and recovering global demand are driving the TMS market in this
region. This growth is evident with the acceptance of new cloud-based
transportation solutions, services, and platforms by developing countries of
this region. APAC is witnessing high growth due to the 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 resulted in an increase in
the number of connected solutions that consist of sensors and RFID tags,
resulting in a sudden outburst of vast amounts of data. This has made TMS a
prominent feature in the growing transportation and logistics sector of this
region.
Market
Players
Some
prominent players across all service types profiled in the TMS market study
include Oracle (US), SAP (US), Manhattan Associates (US), C.H. Robinson (US),
Trimble (US), Blujay Solutions (US),
MercuryGate International (US), Blue Yonder (US), Transplace (US), Descartes
Systems Group (Canada), E2open (US), Alpega Group (Belgium), 3Gtms (US), 3T
Logistics & Technology Group (UK), Globaltranz (US), InMotion Global (US),
vTradEx (China), MP Objects (US), Logistically (US), One Network Enterprises
(US), Elemica (US), Tailwind Transportation Software (Canada), IntelliTrans
(US), Allotrac (Australia), Revenova (US), Fretron (India), Ratelinx (US),
Tracx Systems (Canada), WiseTech Global (Australia), Princeton TMX (US), CTSI
Global (US),Generix Group (France), Unifaun (Sweden), Supplystack (Belgium),
Efreightsolutions (US), Ultraship TMS (US)
and Infor (US).
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