The global Transportation Management System 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.
The large enterprise segment to hold the largest market size during the forecast period
The adoption of TMS solutions and services is higher in large enterprises, and the trend is expected to continue during the forecast period. TMS systems offer a single centralized system, with features such as route optimization, carrier tracking, analytics, order management, and account settlement. Hence, large enterprises heavily invest in advanced technologies to increase their overall productivity and efficiency. The demand for flexible, scalable, and convenient services by large enterprises is expected to encourage the market players to come up with newer technologies and innovative solutions.
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Healthcare and Pharmaceutical to record the fastest growth rate during the forecast period
Healthcare enterprises are facing a huge demand due to pandemic. However, supply chain and logistics disruptions across the globe are making it difficult for enterprises to cater to this demand. Geographically dispersed locations, frequent delivery schedules, and coordination specifications, and logistics requirements are affecting internal capabilities and lowering operating margins. Hence, healthcare enterprises are turning to TMS solutions to tackle these challenges. Pharmaceutical goods are highly specialized, sensitive, life-impacting, and thus pharmaceutical transportation needs to be highly performant, secure, and controllable. Considering the nature of pharmaceutical goods, it needs safe handling, packaging, and transporting. It also involves customer-specific documentation and dangerous goods documents. Hence, traceability and visibility play an important role in the pharmaceutical supply chain. This also helps in preventing thefts, counterfeiting, contamination, or damage due to disruptions in the chain. TMS offers high visibility, route optimization, and tracking solutions that can tackle above challenges.
Major TMS vendors include Oracle (US), SAP (US), Manhattan Associates (US), C.H. Robinson (US), Trimble (US), Blujay Solutions (US), MercuryGate International (US), Blue Yonder (US), Transplace (US), Descartes Systems Group (Canada), E2open (US), Alpega Group (Belgium), 3Gtms (US), 3T Logistics & Technology Group (UK), Globaltranz (US), InMotion Global (US), vTradEx (China), MP Objects (US), Logistically (US), One Network Enterprises (US), Elemica (US), Tailwind Transportation Software (Canada), IntelliTrans (US), Allotrac (Australia), Revenova (US), Fretron (India), Ratelinx (US), Tracx Systems (Canada), WiseTech Global (Australia), Princeton TMX (US), CTSI Global (US),Generix Group (France), Unifaun (Sweden), Supplystack (Belgium), Efreightsolutions (US), Ultraship TMS (US) and Infor (US). These market players have adopted various growth strategies, such as partnerships, agreements & collaborations, and new product enhancements to expand their presence in the TMS market. Product enhancements and collaborations have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.
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SAP is one of the leading players in the TMS market. Currently, SAP is working toward enhancing its market share and presence with inorganic and organic growth strategies, such as partnerships, acquisition and product enhancements. For instance, in October 2020, SAP announced the release of a new SAP S/4HANA Transportation Management 2020, which offers improved transportation planning and load optimization, enhanced usability to simplify and automate business processes, and state-of-the-art integration of synchronized business operations. This new release can streamline transportation management, logistics management, warehouse management, and seamless integration processes.
Manhattan Associates is a growing player in the TMS market. The company focuses on organic and inorganic growth strategies to improve its position in the TMS industry. For instance, in September 2020, Manhattan Associates and Logistyx Technologies, a provider of transportation management for parcel shipping, announced a new agreement to continue their partnership for enhancing multi-carrier parcel shipments. This partnership offers Manhattan Associates customers unlimited access to over 8,500 carrier services.
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