Transparency Market Research foresees bright prospects in the global transportation management systems market on account of growing competition in the market. Noticeable players are carrying out extensive research and development activities and investing heavily in it. They are also using new strategies to develop new products by using advanced technologies that will widen the scope in the transportation sector. Companies are also engaged in mergers and acquisition, partnership, collaboration, and expansion to gain larger share in the market. In this report, researches have analyzed few leading players such as SAP SE, Oracle Corp, Manhattan Associates Inc., Lean Logistics Inc., JDA Software Group Inc., 3GTMS Inc., and CargoSmart Ltd.
As per the report, the global transportation management systems market is anticipated to reach US$19.2 bn by the end of forecast period. The market is likely to progress at 12.2% CAGR between 2014 and 2022. In terms of software deployment, the demand for on-premises solutions is high in the global transportation management systems. Growing popularity of SaaS-based transportation management system is the key factor driving demand in this segment.
Geographically, North America is expected to hold larger share in the global transportation management systems market due to increasing use of cloud-based technologies. Increasing use of RFID technology is also expected to drive demand in North America transportation management systems market. Moreover, presence of leading players in the regions adopting freight management systems would also increase the dominance of North America in this market. On the other hand, Asia Pacific is also expected to contribute in the growth of this market. Significant rise in cost-effective operations is a key reason fueling growth in the Asia Pacific transportation management systems market.
Increasing Application of TMS in End-Use Industries to Accelerate Market Performance
Manufacturers operating in the global transportation management systems market are willing to adopt advanced technologies to develop innovative solutions. Increasing penetration of smartphones and internet are playing a crucial role in updating the supply chain applications. Moreover, significant rise cloud-based technologies that helps in easy customization and configuration is also expected to drive demand in the global transportation management systems market.
Growing application of transportation management systems in various industries such transportation and logistics, retail, pharmaceutical, chemical, automotive, aerospace and defense, food and beverages, wholesale and distribution, and other accelerated growth in the global transportation management systems market. Furthermore, management of high-level customer services, cost-effective services, and increasing efficiency and productivity of the logistic operation are other factors fueling growth in this market.
Growing Adoption of Cloud Technology to Surge Demand in TMS Market
High deployment and installation cost and lack of awareness about the advantages transportation management systems among end-user are projected to challenge growth in the global transportation management systems market. Moreover, insufficient IT investment in transportation infrastructure and increasing concerns related to data security might further hamper growth in this market. However, increasing deployment of big data technology and IoT could help in reducing the impact of these restraints. Growing adoption of cloud technology is also expected to open new growth opportunities in the transportation management system market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Transportation Management Systems Market (End-Users- Transportation and Logistics, Food and Beverage, Electrical and Electronics, Industrial, Retail, and Others (Pharmaceutical, etc.); Software Deployment – On-Premise and On-Demand) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022”.