Transportation Management System (TMS) Market-Overview

The development of the transportation sector is predicted to bolster the transport management system market 2020.  The ICT industry reports are produced by Market Research Future, which highlights market options for expansion.  A CAGR of 6.7% is predicted to spur the market in the coming period.

The digitization of the transportation industry is estimated to fuel the transportation management system software development in the upcoming period. The necessity to efficiently capture the real-time data is projected to improve the TMS market in the impending period.

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Segment Review

By the segment of component, the market has included solution, hardware, and services.

By the segment of deployment, the market has included on-premise and cloud.

By the segment of the industry, the market has included travel and tourism, retail, construction and mining, healthcare, and others.

Regional Framework

Transportation management system market by region has been studied for the prime regions of Europe, North America, Asia-Pacific, the Middle East and Africa, and South America.

Among these, North America grabbed the largest market share in 2018, with a market value of USD 1,241.0 million; thus, the market is expected to register a CAGR of 5.9% during the forecast period. The development in the North American market is motivated by the incidence of significant transportation management solutions providers such as JDA Software Group, Oracle Corporation, and CTSI Global, among others. Moreover, early adoption of technology and a heave in demand for TMS systems from the e-commerce sector in the region are further likely to propel the growth TMS Market in North America in the near future.

Asia-Pacific region also might register the highest CAGR of 8.4% during the forecast period. The factors such as the adoption of IoT based fleet management solutions, high investments by domestic e-commerce sector, and growth of smart logistics are the factors driving the market growth in the region.

Detailed Regional Analysis

The regional scrutiny of the TMS Market includes regions such as Asia-Pacific, the Middle East, North America, Europe, Africa, and South America. The North American region was credited for the principal market segment in 2018, with a market worth of USD 1,241.0 million. The transportation management system market is likely to record a CAGR of 5.9% for the duration of the forecast period. The development in the North American market is motivated by the incidence of crucial transportation management solutions suppliers. In addition, the initial adoption of technology and an upsurge in demand for transportation management system from the e-commerce sector in the region are additionally anticipated to boost the augmentation of the Transportation Management System (TMS) Market in North America. The regional market in Asia-Pacific is anticipated to record the highest CAGR of 8.4% for the extent of the forecast period. Soaring investments by the domestic e-commerce sector, implementation of IoT based fleet management solutions, and augmentation of smart logistics are the factors inspiring the market augmentation in the region.

Competitive Analysis

The state of the market is exceptionally indecisive due to the effect of the macro factors operating in the global economy. The road to the resurgence of the market is estimated to be elongated and arduous due to the degree of setbacks it has suffered. The prospects for growth in the market have to be carefully sought out and examined to ensure that they will ensure the favorable development of the market in the coming period. The competitors present in the market are recalibrating their market share to open up new areas of development in the market. The stress on enhancing the production potential and upgradation of the workforce are the top priorities to reinvigorate the development potential of the market in the coming period. The establishment of robust distribution channels is estimated to define the development of the market in the future. The investment in robotic elements in the supply chain is estimated to be seen in the future to reduce the impact of the human capital on the long term market expansion. 

The notable contenders of the transportation management system market TMW Systems (US), JDA Software Group, Inc. (US), Manhattan Associates Inc. (US), are Oracle Corporation (US), Next Generation Logistics (US) ORTEC (The Netherlands), Cargosmart (Hong Kong), BluJay Solutions Ltd (US), CTSI-GLOBAL (US), EFKON GmbH (Austria), Alpega Group (Austria), Descartes Systems Group Inc. (Canada), SAP SE (Germany ), HighJump (US), MercuryGate (US), One Network (US), QAD Precision (US), and Omnitracs, LLC (US).

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