According
to a research 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
" published by MarketsandMarkets, 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.
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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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