Transportation Management Systems Market Size to Reach US$ 15.54 Bn By 2022 – Credence Research
According to a new market report published by Credence Research, Inc., “Transportation Management Systems Market (Food and Beverage, Retail, Electronics/High-tech, Automotive, Manufacturing, Transportation and Logistics, and Others (Pharmaceuticals, Chemicals, etc.)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022” the global transportation management systems market size is expected to grow at a CAGR of 9.8% during the forecast period 2015 – 2022.
Market Insights:
A transportation management system (TMS) is one of the critical components of supply chain management used to manage and control freight movement. With the advancements in technology, transportation management systems have been instrumental in helping companies control their freight costs and allow electronic communications with carriers, trade partners, and customers.
Browse the full Transportation Management Systems (Food and Beverage, Retail, Electronics/High-tech, Automotive, Manufacturing, Transportation and Logistics, and Others (Pharmaceuticals, Chemicals, etc.))Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022 report at http://ift.tt/2qDgFjg
With the expansion in breadth of offerings and integration capabilities, transportation management systems have become a preferred choice for firms of all sizes and across varied industries. Growing popularity of SaaS-based solutions offering superior benefits in terms of cost, visibility, and maintenance is identified as the major factor driving market growth. The emergence of these cloud-based solutions is also expected to trigger the replacement of aging conventional TMS solutions. In addition, the growing preference for multi-channel distribution and demand for greater visibility in supply chain among shippers is expected to have positive impact on the market growth.
Competitive Insights:
The market for transportation management systems is moderately competitive across varied end-use verticals. The transportation management solution providers are required to understand distinct differences and requirements of different modes of transportation and industry verticals. SAP SE (Germany) is identified as the market leader in the global transportation management systems market for the base year of 2014.
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Some other promising players identified in the global transportation management systems market include 3GTMS, Inc. (the U.S.), Oracle Corporation (the U.S.), JDA Software Group, Inc. (the U.S.), Manhattan Associates Inc. (the U.S.), CargoSmart Ltd. (Hong Kong), One Network Enterprises (the U.S.), Lean Logistics, Inc. (the U.S.), Descartes Systems Group, Inc. (the U.S.), and MercuryGate International, Inc. (the U.S.) among others. The global transportation management systems market also includes number of niche players, which account for trivial market share individually. The market for transportation management systems worldwide is driven by technology development and technology innovation. Thus the competitive rivalry among current market players, which is currently moderately high, is expected to elevate in the coming years.
Key Trends:
- Growing demand for Software-as-a-Service-based transportation management solutions
- Growing preference for omni-channel distribution
- Proliferation of e-commerce and growing demand for supply chain analytics
- Transportation Management Systems with improved functionalities and capabilities to replace aging conventional systems.
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