Vancouver, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The latest analysis conducted by Emergen Research forecasts that the global Transportation Management System (TMS) market will attain a size of approximately USD 44.96 Billion by the year 2030. This growth is anticipated to occur steadily, with a compound annual growth rate (CAGR) of 19.1% in terms of revenue. This upward trajectory can be attributed to ongoing technological advancements within the transportation and logistics sector. Notably, the integration of Small Parcel Shipping (SPS) stands out as a significant advancement.
Reflecting on the evolution of logistics and supply chain technology, it becomes evident that the incorporation of parcel handling within transportation management systems has gained prominence relatively recently. Historically, TMS predominantly focused on managing Over-The-Road (OTR) operations during the 2000s, where Less-Than-Truckload (LTL) and Full Truckload (TL) were the primary modes of transportation. This approach left minimal room for accommodating alternative shipping methods like sea, air, rail, and intermodal.
However, contemporary TMS solutions of the next generation are addressing these limitations to enhance client services. They achieve this by offering precise and instantaneous pricing quotations encompassing a range of delivery alternatives. Furthermore, these advanced solutions facilitate integrated label printing, tracking mechanisms, and streamlined invoicing processes. This evolution is reflective of the ongoing efforts to optimize transportation management systems for improved efficiency and versatility in catering to diverse client requirements.
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A recent trend in the market is support for inbound purchase order management. The findings of The academic researchers from Auburn University's Center for Supply Chain Innovation presented the third annual edition of 'Logistics 2030 - Navigating a Disruptive Decade' in 2021. This comprehensive study delved into logistics management and highlighted key insights. Among the findings, sourcing flexibility emerged as the primary concern for 67% of survey participants. This particular aspect pertains to the speed and ease with which clients can transition between suppliers. The significance of this focus becomes evident when considering the global supply chain disruptions experienced in 2021.
An examination of the composite Purchasing Managers Index (PMI) over multiple years reveals a heightened level of volatility. This is evident in the current real value of 50.8 for January, indicating an increase in fluctuations as compared to previous periods. The global PMI suppliers' delivery times index also witnessed a decline in 2021, dropping notably to 34.8 points in October.
However, there exists a significant factor that has the potential to impede the revenue growth of the market, and that is the mounting concerns regarding data security. The process of digitalization has inadvertently rendered Transportation and Logistics (T&L) businesses more susceptible to cyberattacks due to inherent internal vulnerabilities. This heightened risk encompasses a wide spectrum within the sector, encompassing shipping, rail, transportation, logistics firms, and package delivery services.
The implications of such cyber threats are multifaceted and impactful. The financial cost associated with addressing these attacks can prove burdensome, leading to disruptions in business operations. Moreover, the breach of private customer information carries the potential for increased liability. This risk is further exacerbated by the expanding utilization of Operational Technology (OT), which creates new avenues for hackers to exploit through wireless and communication channels integrated into the digital frameworks of T&L firms.
Several challenges contribute to the inhibited revenue growth within the T&L sector. A dearth of skilled professionals in the realm of cyber protection, outdated cyber regulations, and inadequate awareness about cybersecurity collectively hamper progress in this domain. As the landscape continues to evolve, addressing these challenges will become pivotal in ensuring the sustained growth and security of the industry.
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Scope of Research
| Report Details | Outcome |
| Market size in 2021 | USD 9.26 Billion |
| CAGR (2022-2030) | 19.1% |
| Revenue forecast to 2030 | USD 44.96 Billion |
| Base year for estimation | 2021 |
| Historical data | 2021-2030 |
| Forecast period | 2022-2030 |
| Quantitative units | Revenue in USD Million and CAGR in % from 2022 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, transportation mode, deployment type, vertical, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, U.A.E., Israel, and Rest of MEA |
| Key companies profiled | Oracle Corporation, SAP, Manhattan Associates, C.H. Robinson Worldwide, Inc., e2open, LLC., Trimble Inc., WiseTech Global, The Descartes Systems Group Inc., MercuryGate, Blue Yonder Group, Inc., and others |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global transportation management system market is fragmented, with few large and medium-sized players accounting for the majority of market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective transportation management system products. Some major players included in the global transportation management system market report are:
- Oracle Corporation
- SAP
- Manhattan Associates
- C.H. Robinson Worldwide, Inc.
- e2open, LLC.
- Trimble Inc.
- WiseTech Global
- The Descartes Systems Group Inc.
- MercuryGate
- Blue Yonder Group, Inc.
Strategic Development
- On 25 August 2020, the company's one, global multimodal transportation management system, Navisphere, will now be connected to an unprecedented 19 TMS and ERP systems, according to C.H. Robinson's announcement, setting new standards for the industry. This integration makes it possible to receive real-time pricing and capacity assurance, and it substantially eliminates the time needed to obtain market quotes and reserve loads. In practice, each shipment saves clients an hour on average. Additionally, this automation gives shippers more flexibility and efficiency at a crucial time when businesses are dealing with shifting consumer purchasing patterns and supply chain disruptions brought on by COVID-19. Increasing digital transactions at C.H. Robinson over the previous year by 55% confirms that customers want to automate more processes.
- On 18 May 2020, the 9.3 versions of the SAP Extended Warehouse Management (SAP EWM) and SAP Transportation Management (SAP TM) applications were released, according to SAP SE. The SAP Transportation Management (SAP TM) and SAP Extended Warehouse Management (SAP EWM) programs will now be accessible in the 9.3 editions, according to a statement from SAP SE. By adding transit warehousing options for service providers who combine warehousing and transportation at logistics hubs, these updates improve integration between logistics processes.
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Some Key Highlights From the Report
- The solutions segment is expected to account for largest revenue share in the global market over the forecast period. Using transportation management system solutions has various advantages. Better customer service, increased warehouse productivity, tracking deliveries, inventory control, and cheaper shipping costs are just a few advantages of transportation management system solutions. The current TMS technology provides for complete supply chain transparency. A major benefit is having access to and real-time visibility into all other integrated systems' data. Logistical managers are better equipped to expect possible problems and act more quickly and effectively. This maintains a high level of client satisfaction without sacrificing efficiency or performance.
- The roadways segment is expected to account for largest revenue share in the global market over the forecast period. A transportation management system for roads has various advantages. Lower costs for the business and the end user, simpler supply chain processes across modes, carriers, and regions, automated business processes that lead to more accurate and timely billing and documentation, and improvements in security and visibility, particularly in transit, are all advantages of transportation management systems for roadways. Another advantage is the ability to track freight on a single platform both locally and globally. Reduced manual work results in fewer delays and quicker delivery dates.
- The on-premises segment is expected to account for largest revenue share over the forecast period. When a company has several physical servers on-site, it uses an on premise, or ‘on-prem’, TMS. Many companies that utilize on premise TMSs either built the software from scratch, purchased or licensed the base software, and then tailored it to their needs. When a company hosts the server, they have more control over the data that is kept, managed, and safeguarded. Since on premise TMS software is stored behind a company's network firewall, businesses that use it often experience fewer cybersecurity risks.
- The transportation & logistics segment is expected to account for largest revenue share over the forecast period owing to rising need for it. By using logistics platforms, which are typically a part of the supply chain management system, all transportation processes are digitally enabled. They give customers the ability to control, streamline, and enhance the daily operations of their vehicle fleets. TMS can also be used to refer to transport management software, despite the fact that both terms have the same meaning. TMS solutions are designed to increase the transparency of transportation operations, enable the effective use of plant resources, completely evaluate the state of current operations, produce all necessary paperwork, and guarantee the timely delivery of freight and other things. A TMS frequently offers services to both shippers and providers of logistical services. The program's primary users include manufacturers, distributors, wholesalers, retailers, and e-commerce businesses.
- The market in North America is expected to account for largest revenue share during the forecast period, which is attributed to increasing activities by key market players in countries in the region. For instance, FreightWaves declared that their TRAC truckload spot pricing has been implemented by OmnisTMS, a transportation management system ‘built for brokers by brokers’. Transportation management for the current supply chain is known as OmnisTMS. Everything one needs is readily available thanks to their sleek, modern interface, which was created with speed and usefulness in mind. The business is happy to partner with SONAR to provide their customers with innovative freight data so they can always make smarter purchasing decisions.
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For the purpose of this report, Emergen Research has segmented global transportation management system market on the basis of component, transportation mode, deployment type, vertical, and region:
- Component Outlook (Revenue, USD Million; 2019-2030)
-
- Solutions
- Planning & Execution
- Order Management
- Audit, Payment, and Claims
- Analytics & Reporting
- Routing & Tracking
- Services
- Consulting
- Integration & Implementation
- Support & Maintenance
- Solutions
- Transportation Mode Outlook (Revenue, USD Million; 2019-2030)
-
- Roadways
- Railways
- Airways
- Maritime
- Deployment Type Outlook (Revenue, USD Million; 2019-2030)
-
- On-Premises
- Cloud
- Vertical Outlook (Revenue, USD Million; 2019-2030)
- Retail
- Healthcare & Pharmaceutical
- Manufacturing
- Transportation & Logistics
- Energy & Utilities
- Government
- Other Verticals
- Regional Outlook (Revenue, USD Million; 2022-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
- North America
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