Transportation Management System Market worth $33.3 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 7, 2023 /PRNewswire/ -- The Transportation Management System (TMS) business appears to have a bright future. Key trends include increased adoption of cloud-based solutions, integration of advanced technologies such as AI and IoT, rising demand for visibility and transparency, growth of e-commerce and omnichannel retailing, emphasis on sustainability and green initiatives, globalisation and cross-border trade, and market consolidation through mergers and partnerships. These factors will promote the growth of the TMS industry and lead to more effective transportation management practices.

The Transportation Management System Market is projected to grow from USD 13.5 billion in 2023 to USD 33.3 billion by 2028, at a CAGR of 19.7% during the forecast period, according to a new report by MarketsandMarkets™. The demand for transportation management system solutions is anticipated to rise due to the growing need for management systems across the verticals for cost reduction and improving operational efficiency.

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Scope of the Report

By offering, the solutions segment holds the largest market size during the forecast period.

Based on solutions, the TMS market is segmented into planning and execution; order management; audit, payment, and claims; analytics and reporting; and routing and tracking. These solutions assist end users in addressing transportation needs for their businesses with reduced costs while improving operational performance. The rise of digitization and the use of cloud computing in recent years have increased the demand for TMS solutions across the globe. The emergence of domestic and international eCommerce has further boosted the growth of the solutions segment.

By transportation mode, the maritime segment is projected to register the highest CAGR during the forecast period.

The adoption of TMS solutions and services in the marine sector is driven by the fact that more than 80% of global trade is conducted by sea, making it the most significant mode of international freight transportation. International maritime transport costs tend to be between two to three times as high as the customs duties of importing countries. Still, maritime transport is the cheapest way of transporting many goods. The price of container shipping depends on the route and the current economic situation. Hence, TMS helps route optimization to avoid unnecessary international charges and tariffs, saving shipping costs and time.

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By region, the Asia Pacific region has the highest growth rate in the Transportation Management System Market

In the Asia Pacific, developing countries are expected to experience significant growth, primarily in automating transportation and supply chains. Most of the countries in the Asia Pacific are shifting their focus on improving safety, operational efficiency, and passenger comfort by reducing travel time congestion. The Asia Pacific is witnessing high growth due to increasing global competition, the growing penetration of smart devices and connected machines, and the rising investments in smart cities. High economic growth in developing countries, such as India, China, and Vietnam, has increased the number of connected solutions that consist of sensors and RFID tags, resulting in a sudden outburst of vast amounts of data. TMS is a prominent feature in this region's growing transportation and logistics sector. Hence, Asia Pacific is the current hotspot of the TMS market and attracts several companies.

Top Key Companies in Transportation Management System Market:

The major vendors covered in the Transportation Management System Market include Oracle (US), SAP (Germany), Manhattan Associates (US), C.H. Robinson (US), Trimble (US), WiseTech Global (Australia), Descartes (Canada), E2open (US), Generix Group (France), MercuryGate (US), Blue Yonder (US), Uber Freight (US), Alpega Group (Belgium), Worldwide Express (US), Infor (US), 3Gtms (US), Shipwell (US), 3T Logistics & Technology Group (UK), Ratelinx (US), oTMS (China), nShift (UK), BlueRock Logistics (Netherlands), Elemica (US), TESISQUARE (Italy), DDS Logistics (France), vTradEx (China), Shiptify (France), GlobalTranz (US), InMotion Global (US), Kinaxis (Canada), Logistically (US), One Network Enterprises (US), IntelliTrans (US), Allotrac (Australia), Revenova (US), Princeton TMX (US), CTSI Global (US), and PCS Software (US).

Recent Developments:

• In May 2023, Manhattan Associates announced its Manhattan Active Yard Management solution. It redesigned yard management to work seamlessly with its warehouse and transportation management solutions on a single cloud-native platform.
• In April 2023, Trimble announced it completed the acquisition of its previously announced acquisition of Transporeon. Transporeon's software platform provides modular applications that power a global network for 145,000 carriers and 1,400 shippers and load recipients with an integrated sourcing, planning, execution, monitoring and settlement tools.
• In April 2023, Descartes acquired Localz, a 10-year-old start-up that helps retailers engage with customers on the day they deliver goods or services. Localz technology platform combines real-time vehicle location tracking and communications to transform the customer delivery experience.
• In February 2023, WiseTech Global announced its acquisition of Blume Global, a leading solution provider facilitating intermodal rail in North America.
• In January 2023, Oracle introduced new logistics capabilities within Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The new capabilities within Oracle Transportation Management are such as New Oracle Transportation Management Mobile App and more.

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Transportation Management System Market Advantages:

Transportation process automation and optimisation are made possible by TMS technologies. They contribute to more effective shipping planning, execution, and monitoring, which boosts operational effectiveness. To save time and cut down on human error, TMS may automate processes like carrier selection, route planning, load optimisation, and freight auditing.

TMS solutions can assist in lowering transportation costs by streamlining routes, grouping shipments, and choosing carriers that are reasonably priced. They give businesses the ability to make informed judgements and bargain more advantageously with suppliers and carriers by giving them real-time information into freight prices, carrier performance, and fuel expenses.

By providing real-time visibility into shipment progress and anticipated delivery timelines, TMS solutions help businesses offer better customer service. Customers may maintain awareness and feel more confident in the delivery process with precise tracking information and prompt notifications. Furthermore, TMS assists in reducing delivery delays and optimising delivery schedules, improving on-time performance.

Businesses can synchronise transportation actions with inventory levels thanks to the integration of TMS solutions with inventory management systems. This connection enhances the effectiveness of inventory management overall while reducing stockouts and optimising inventory replenishment. Businesses can reduce holding costs and better adapt to shifting client demands by coordinating transportation and inventory.

Countless volumes of data relating to transportation are captured and analysed by TMS solutions. Businesses can get important insights about the success of the supply chain as a whole, carrier performance, lane analysis, and transportation performance thanks to comprehensive reporting and analytics capabilities. Better decision-making, proactive problem-solving, and ongoing process improvement for transportation are made possible by this data-driven approach.

Transport operations come in a range of sizes and complexity levels, and TMS systems are made to accommodate them. Businesses with a few shipments per month or those with significant shipment volumes across several areas can use them. The scalability and flexibility of TMS solutions provide for system integration, support for development and expansion, and adaptation to shifting business needs.

TMS solutions frequently come with tools that make it easier for companies to follow transportation laws and regulations. They can help with organising paperwork, making sure labels and packing are appropriate, and complying to certain rules like those governing the transfer of hazardous items or international shipping. TMS systems lower the risk of fines or legal challenges by automating compliance operations.

Report Objectives

• To determine and forecast the global Transportation Management System Market based on offering (solutions and services), transportation mode, end-user, verticals, size, end users, and region from 2023 to 2028
• To analyze the various macroeconomic and microeconomic factors affecting the market growth
• To forecast the size of the market segments with respect to five key regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
• To provide detailed information related to the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Transportation Management System Market
• To analyze each sub-segment for individual growth trends, prospects, and contributions to the total Transportation Management System Market
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the transportation management system
• To profile key market players comprising top vendors and start-ups; provide comparative analysis based on business overview, regional presence, product offerings, business strategies, and key financials; and illustrate the market's competitive landscapes
• To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities, in the market

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