Transportation Management System is the logistics platform that uses various technologies to help the businesses plan, execute, and also optimize some physical movement of goods. The system is often part of a larger Supply Chain Management (SCM) system. The system is also recognized as Transportation Management Software and Transportation Management Solution. Transportation management systems are generally used by businesses that need to ship, move, and receive goods/products on a regular basis, including: manufacturers, retail businesses, ecommerce companies, distributors and companies that provide logistics services, for instance third-party and fourth-party logistics (3PL and 4PL) companies and also logistics service providers (LSPs). The system also streamlines the shipping process and makes it easier for businesses to manage & optimize their transportation operations, whether they are by air, land, or sea.
According to study, “Global Transportation Management System Market to reach USD 197 billion by 2026” the key companies operating in the global transportation management system market are SAP SE, JDA Software Inc., Oracle Corporation, Inet-Logistics GmbH, Manhattan Associates, Mercury gate International Inc., Descartes, Blujay Solutions, CTSI Global, Metro Infrasys, Efkon AG and TMW Systems Inc.
Based on transportation mode, transportation management system market is segmented as roadways, airways, railways and maritime. Based on component, market is segmented as solution type, services and hardware. Solution type segment is further sub-segmented as operation management, traffic management and others. Operation management includes driving monitoring, risk management, automatic scheduling & vehicle load optimization, real-time vehicle & asset tracing, mapping & route guidance, transport data management, visualization and analytics and predictive fleet maintenance. Traffic management includes signaling, information management and automatic number-plate recognition. Hardware segment is further sub-segmented as sensors, cameras (on-street surveillance and vehicle surveillance) and others. Services segment is further sub-segmented as system integration, training & education and support & maintenance. Based on deployment mode, market is segmented as on-premise and hosted. In addition, based on application, market is segmented as fire station, mining, consumer goods & retail, travel & tourism, parcel & package, hospitals and others.
The transportation management system market is driven by high ROT & enhanced visibility & control, followed by growth in digital revolution in transport and increase in urbanization & rise in congestion. However, inter country trade law issues and high installation & integration costs may impact the market. Moreover, rise in advent of Internet-of-Things (IoT) and big data, rise of Software-as-a-service (SaaS) & cloud and increase in demand for managed service providers are key opportunities for market.
Based on geography, the North-American region holds major share in global transportation management system market owing to integration of GPS and route planning system in the region. Whereas, the Asian-Pacific and European regions are anticipated to depict higher growth rate due to surge in international trade, particularly in emerging economies, such as India and china coupled with growth in economies over the forecast period. The Global Transportation Management System market is valued approximately US $70 billion in 2019 and is projected to grow with a healthy growth rate of more than 16% over the forecast period 2020 to 2026.
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Ankur Gupta, Head Marketing & Communications