(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Dec. 14, 2020 (GLOBE NEWSWIRE) -- The "Transportation Management System (TMS) Market by Component (Solutions and Services), Transportation Mode (Roadways, Railways, Airways, and Maritime), Deployment Type (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global TMS Market Size is Expected to Grow from USD 7.7 Billion in 2020 to USD 17.8 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.2% during the Forecast Period.

The major factors driving the growth of the TMS industry include Technological advancements in the transportation and logistics industry and exponential growth in the eCommerce industry.

Consulting segment to grow at the highest CAGR during the forecast period

Vendors offer consulting services to help in-house staff understand TMS systems. These services provide a cost-effective way to ensure performance at the highest level of in-house staff. Consulting services are important for end users because certain companies do not have the expertise to understand the complexities involved in configuring TMS.
These services play an important role in the implementation of TMS solutions. Consulting service providers guide companies in the deployment of TMS that helps address specific business-process requirements in the most feasible manner. These services assist enterprises in making appropriate and informed decisions for gaining desired business outcomes.

Manufacturing segment to account for the largest market size in 2020

Dealing with quick and smart responses to emergency situations and costs involved in the transportation of materials and finished goods are some of the top challenges faced by manufacturers. TMS helps in tracking and managing inventory, route optimization, and minimizing shipment/freight costs. It also increases visibility and control over the transportation chain, reducing operational costs, unscheduled downtime, and improving production performance. Hence, the manufacturing vertical is experiencing a high adoption of TMS across the globe.

SMEs segment to record the fastest growth rate during the forecast period

The adoption of TMS among SMEs is estimated to grow at the highest CAGR during the forecast period. These enterprises face greater challenges of limited budgets as compared to large enterprises and require better methods to resolve complexities for improving the cost optimization of their business processes. The implementation of TMS systems would result in reduced costs and improved business efficiency for SMEs.
The SMEs segment is expected to grow at a faster growth rate in the TMS market. Reliability, scalability, user-friendly capabilities, easy integration, increased agility, and improved efficiency are the key factors that are expected to encourage SMEs to adopt TMS solutions and services at a rapid pace.

North America to account for the highest market share during the forecast period

North America witnessed the earliest adoption of cloud computing and mobile technologies, which has been significantly responsive to the adoption of TMS solutions and services. Advancements in Machine-to-Machine (M2M), and mobile and cloud technologies in transportation are the major factors that have led to the improved efficiency of business processes. Hence, to derive benefits from these technologies, large enterprises are adopting TMS solutions rapidly to enhance the overall employee experience and tackle business continuity challenges amid the lockdown.
North America is projected to encourage market growth, as large enterprises and SMEs are focused on developing innovative TMS solutions, which are integrated with technological advancements, such as analytics, AI, and ML. North America also witnesses the early adoption of cloud and mobility technologies and has an advanced IT infrastructure, which reduces operational expenditure through various advancements in technologies across verticals.
Currently, North America is the largest contributor in terms of revenue, as compared to the other regions. The region includes the US and Canada for this study.
Market Overview and Industry Trends
Drivers

• Technological Advancements in the Transportation and Logistics Industry
• Exponential Growth in the Ecommerce Industry

Restraints

• Growing Concerns Over Data Security

Opportunities

• Autonomous and Connected Vehicles to Transform the Transportation and Logistics Industry
• Increasing the Adoption of Cloud-Based Technology and Industry 4.0

Challenges

• Slow Adoption of TMS Solution due to High Capital Investment

Case Study Analysis

• Case Study 1: Tosca
• Case Study 2: DSC
• Case Study 3: Grandville Printing

COVID-19 Impact: Transportation Management System Market
Regulatory Implications

• General Data Protection Regulation
• Service Organization Control 1, 2, and 3 Compliance

Average Selling Price: Market

Companies Mentioned

• 3GTMS
• 3T Logistics & Technology Group
• Allotrac
• Alpega Group
• Blue Yonder
• Blujay Solutions
• C.H. Robinson
• CTSI Global
• Descartes Systems Group
• E2Open
• Efreightsolutions
• Elemica
• Fretron
• Generix Group
• Globaltranz
• Infor
• Inmotion Global
• Intellitrans
• Logistically
• Manhattan Associates
• Mercurygate International
• MP Objects
• One Network Enterprises
• Oracle
• Princeton Tmx
• Ratelinx
• Revenova
• SAP
• Supplystack
• Tailwind Transportation Software
• Tracx Systems
• Transplace
• Trimble
• Ultraship TMS
• Unifaun
• Vtradex
• Wisetech Globalgroup

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