Global Transportation Management System Market

Transportation Management System Market Size, Share, Growth Analysis, By component (Solution, Services), By Deployment Mode (On-Premises, Cloud), By Transportation Mode (Roadways, Railways), By Region -Industry Forecast 2024-2031

Report ID: SQMIG45F2153 | Region: Global | Published Date: November, 2024
Pages: 183 | Tables: 143 | Figures: 73

Transportation Management System Market News

  • May 2022: the largest independent TMS provider, MercuryGate International Inc., announced a collaboration with Amazon Freight. Amazon Freight is an Amazon-powered business for freight delivery. Through the MercuryGate platform, the shipper would then get access to Amazon Freight's dependable network and reasonable dynamic pricing.
  • March 2022: Blue Yonder, a provider of omnichannel commerce fulfillment and digital supply chain solutions, has teamed up with Snowflake, a popular data cloud company, for transforming the current access by supply chain management to heterogeneous data sources. The end-to-end supply chain solution by Blue Yonder's Luminate Platform powered by Snowflake helps retailers, manufacturers, and 3PLs better predict, prevent, and address disruptions across their whole business, thereby reducing risks and tackling growing supply chain challenges.
  • February 2022: Oracle Fusion Cloud Transportation Management, part of Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), has been selected by the world's largest supplier of refractory products, RHI Magnesita, to enable its growth and digitalization. All shipping facilities of RHI Magnesita will go live with a single, integrated transport management system for all logistical activities. The company would be able to reduce costs, increase service levels, and automate processes due to the new Oracle Transportation Management possibility of running logistics operations even more profitably.
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Global Transportation Management System Market size was valued at USD 13.61 Billion in 2022 and is poised to grow from USD 15.98 Billion in 2023 to USD 49.11 Billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

Major transportation management system companies are expanding the products and services they offer through a variety of calculated moves, including partnerships, acquisitions, and mergers. For instance, The Descartes System Group, Inc. reports new products in October 2023 include asset monitoring, proactive driver safety training, improvement in courier optimization, proactive control tower, and customer interaction platform. The above solutions will enable the firm to be equipped with capabilities towards mobile, routing, and telematics. 'GoComet', 'Cerasis, Inc.', 'BluJay Solutions Ltd.', 'Infor Inc.', 'IBM Corporation', 'SAP SE', 'JDA Software Group, Inc.', 'Oracle Corporation', 'MercuryGate International, Inc.', 'The Descartes System Group Inc.', 'Cargobase', 'C.H. Robinson', 'Transplace', 'Blue Yonder', 'E2Open'

The fastest growing factor in dominating the market is the rising need for supply chain optimization. Companies want their logistical operations to become more cost-effective and operationally efficient, and therefore, ever-increasing numbers of these firms are looking for transportation management systems. Transportation management systems enable firms to optimize loads, carry out freight audits, and plan routes, and in this respect, facilitate the automation of supply chains. TMS systems will reduce transportation costs and deliver faster for companies, critiquing the data it received and giving meaningful information. Further complexities of supply chains and expansion of global commerce require more TMSs, making it one important tool in companies that need to appear flexible in an increasingly aggressive market.

Growth in Cloud-Based Solutions: The rise of scalable, flexible, and low-cost solutions is driving the adoption of cloud-based transportation management systems. Compared to on-premise solutions, cloud-based TMS has many benefits, such as easier 'deployment time' and reduced 'point of entry.' Real-time information is made available to organizations from anywhere, encouraging better stakeholder coordination and evidence-based decision-making. Moreover, cloud solutions enable companies to use the latest technologies and get updates on a regular basis with the view of staying competitive in an ever-changing market. The face of transportation management will soon be different due to embracing cloud-based TMS use and small and medium-sized businesses finding the benefits of this technology.

With a revenue share of more than 32.44% in 2023, North America led the global transportation management system market. North America is renowned for having adopted roads as the primary means of transportation for delivering commodities and transporting freight at a rapid rate. The goal of local governments' increasing investments in linked infrastructure is to provide a transit environment that is convenient and efficient. It is one of the main elements propelling the TMS market's expansion in North America. Furthermore, it is anticipated that the existence of many top TMS providers offering a wide range of solutions to customers, among them, IBM Corporation, JDA Software Group Inc., Manhattan Associates, and MercuryGate International Inc.—will support the expansion of the regional market.

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Global Transportation Management System Market

Report ID: SQMIG45F2153

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