Global Transportation Management System (TMS) Market Research Report: Forecast to 2025
The technology advancements, digitization and the rising requirement for cloud-based transportation management systems are the key factors impacting the rise of global transportation management systems. The transportation management system administers all the transportation activities such as the in and out movement of fleets, availability of Realtime documentation, assuring the shipment flexibility across the organization. The transportation management system is very significant for logistic service providers or carriers. The market also explores opportunities in the up growing IoT and Big data technologies. However, Blockchain and embedded analytics are the key technology trends extensive in the market. However, market growth is obstructed because of data privacy and security.
Transportation is an exhausting aspect of the travel and tourism sector. In developing countries, the travel and tourism industry are focussing on improving the supply chain management and logistic channels to compete in the market. They are setting up a comprehensive transportation management system that effectively records real-time data about shipments and carrier contract management among others.
Depending on the region the global transportation management market is divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America accounted for the largest market share in 2018, and the market is expected to register a CAGR of 5.9 % during the forecast period. The key transportation management service providers such as Oracle Corporation, JDA Software Group, and CTSI Global are driving the growth of the North American Market. Moreover, recent acceptance of technology and an upsurge in demand for TMS systems from the e-commerce sector. Furthermore, quick acceptance of technology and upsurge in demand for Transportation Management Systems from the e-commerce sector in the region are expected to push the growth transportation management system market in North America soon.
Asia Pacific is also expected to reach the highest CAGR of 8.4% during the forecast period. The key factors driving the market growth in the Asia Pacific are a huge investment of the domestic e-commerce sector, adoption of IoT based fleet management solutions, and the rise of smart logistics in the region.
The global market of the transportation management system is broadly segmented based on component, deployment and, industry. By Component type, the global market is segmented as Solution, hardware and Services. By deployment type, it is segmented as on-premise and Cloud and based on Industry type the market is segmented as retail, travel and Tourism, Healthcare, Construction and Mining, and Others.
The key Players of Global Transportation Management System Market are Mercury Gate (US), JDA Software Group, Oracle Corporation (US), Cargosmart (Hong Kong), BluJay Solutions Ltd (US), CTSI-GLOBAL (US), Inc. (the US), Manhattan Associates Inc. (US), EFKON GmbH (Austria), One Network (US), Descartes Systems Group Inc. (Canada), SAP SE (Germany), Alpega Group (Austria), HighJump (US), Next Generation Logistics (US) ORTEC (The Netherlands), QAD Precision (US), TMW Systems (US), and Omnitracs, LLC (US).