Transportation Management Systems Market: Soars High with Wings of Innovation
A transportation management system (TMS) refers to a subset of supply chain management and is centered mostly on logistics and transportation. The augmented use of cloud computing technologies for managing supply chain activities is one of the significant and major trends that have been prevailing in the world market for transportation management systems. Cloud-based deployments, in general, need less configuration and customization.
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These two factors are triggering down the cost of lifecycle, thereby making web-based applications more attractive and appealing to shippers. Retailers across the globe have realized that the significance of technology for the purpose of achieving real-time visibility of operations so as to track products as they leave manufacturing facility and move through the supply chain. As such, the retailers are gradually moving shifting away from platform-based solutions and are switching to technologies that are cloud-based.
A few of the major players in the international market for automotive transportation management systems are SAP SE , Oracle Corporation, CargoSmart Ltd., JDA Software Group, Inc., Descartes Systems Group, Inc., BluJay Solution, Manhattan Associates, Inc., Precision Software, Inc., 3GTMS, Inc., One Network Enterprises amongst many others. These transportation management system vendors are constantly trying to expand the capabilities of transport management solutions so as to enable end-users coordinate their supply chain operations effectively.
The world market for transportation management systems stood at around US$ 9,600.8 mn in the year 2016. Expanding at a healthy rate of 13.6% CAGR from the year 2017 to 2025, the opportunity in this market is likely to touch around US$ 30,044.1 mn by the end of the year 2025.
The world market for transportation management systems has been regionally segmented into the geographies of South America, North America, Asia Pacific, Middle East and Africa, and Europe. Out of all of these regions, North America is estimated to lead the market and it is expected to be closely followed by Europe. In the year 2016, North America has held around 37.5% of the global market and is estimated to remain dominant over the next few years.