Regional Analysis

North America to Remain Frontrunner in Transportation Management Systems Market

North America will remain frontrunner in transportation management systems market in the forecast period. It is predicted to touch USD 1,241.0 million at a 5.9% CAGR by 2027. The presence of major transport management solutions, early adoption of technology, and increase in demand for TMS systems from the e-commerce sector are adding to the global transportation management systems market growth in the region over the forecast period.

Market Highlights

Market Research Future (MRFR) predicts the Global Transportation Management System (TMS) Market size to expand at a CAGR of 17.3% to reach USD 35.42 Billion from 2017–2025 (forecast period). Key factors propelling the growth of the TMS industry include technological developments in the transport and logistics sector and the rapid growth in the eCommerce industry.

Transportation Management System Market Drivers/TMS Market Trends

Technological Innovations in the Transportation and Logistics Industry to Boost Market Growth

Technological innovations in the transportation and logistics industry will boost the market growth over the forecast period. The demand for higher agility in transport and logistics operations which enables companies in offering superior customer service is driven mostly by digital transformation across the industry. Most companies are embracing new technologies as a part of the digital transformation trend, creating unparalleled opportunities for operational efficiency, richer customer experience, and sustainability, and new business models. Advanced technologies such as AI, IoT, and big data and their predictive capabilities make transport operations more efficient and smarter. This will impact the transportation management systems market share.

Opportunities

Connected and Autonomous Vehicles to Offer Robust Opportunities

Connected and autonomous vehicles to improve the transport and logistics industry will offer robust opportunities for the market in the forecast period. The use of autonomous cars in the transport & logistics field has increased in the last few years. The growing technological developments in artificial intelligence, growing investments in the development of sensors and vision technologies are fuelling the growth of the autonomous cars in transforming the way vehicles are operated, assembled, operated, services, and used.

Restraints

Growing Concerns over Data Security

The risks of data theft and misuse are growing alongside the digitization of processes by infrastructure, transport companies, forwarders, and shippers. This may act as a market restraint over the forecast period.

Challenges

Slow Adoption of TMS to act as Market Challenge

The slow adoption of TMS solution due to high capital investment may act as market challenge over the forecast period.

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Segmentation:

By component, the global transportation management systems market is segmented into services, hardware, and solutions.

By deployment, the global transportation management systems market is segmented into cloud and on-premise.

By industry, the global transportation management systems market is segmented into construction and mining, healthcare, travel and tourism, retail, and others.

Key Players

Eminent players profiled in the global transportation management systems market report Omnitracs LLC (US), TMW Systems (US), Next Generation Logistics (US) ORTEC (The Netherlands), Cargosmart (Hong Kong), QAD Precision (US), One Network (US), MercuryGate (US), HighJump (US), Alpega Group (Austria), EFKON GmbH (Austria), CTSI-GLOBAL (US), BluJay Solutions Ltd (US), SAP SE (Germany), Descartes Systems Group Inc. (Canada), Manhattan Associates Inc. (US), JDA Software Group Inc. (US), and Oracle Corporation (US), among others.

Key players are incorporating several strategies to stay at the forefront such as mergers and acquisitions, partnerships, new product launches, and others.

Industry Updates

Hy-Vee Inc. has chosen in implementing Manhattan Associates’ transportation management system for boosting visibility and efficiency of its logistics network and aid with its supply chain operations. The solution will improve supply chain ops and logistics.

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Transportation Management System (TMS) Market Research Report: By Component (Solution Hardware and Services), By Deployment (On-Premise and On-Cloud), By Industry (Retail, Travel and Tourism, Healthcare, Construction, Others) - Forecast till 2027