MarketsandMarkets forecasts the global Transportation Management System Market size is expected to grow from USD 13.5 billion in 2023 to USD 33.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period. The technological advancements in the transportation and logistics industry, along with the increasing adoption of advanced technologies, such as the Internet of Things (IoT), big data, and Artificial Intelligence (AI) and their predictive capabilities for smarter and more efficient transportation operations, has led to the growth of the market.
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By offering, the solutions segment holds the largest market size during the forecast period.
Based on solutions, the TMS market is segmented into planning and execution; order management; audit, payment, and claims; analytics and reporting; and routing and tracking. These solutions assist end users in addressing transportation needs for their businesses with reduced costs while improving operational performance. The rise of digitization and the use of cloud computing in recent years have increased the demand for TMS solutions across the globe. The emergence of domestic and international eCommerce has further boosted the growth of the solutions segment.
By transportation mode, the maritime segment is projected to register the highest CAGR during the forecast period.
The adoption of TMS solutions and services in the marine sector is driven by the fact that more than 80% of global trade is conducted by sea, making it the most significant mode of international freight transportation. International maritime transport costs tend to be between two to three times as high as the customs duties of importing countries. Still, maritime transport is the cheapest way of transporting many goods. The price of container shipping depends on the route and the current economic situation. Hence, TMS helps route optimization to avoid unnecessary international charges and tariffs, saving shipping costs and time.
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The major vendors covered in the transportation management system market include Oracle (US), SAP (Germany), Manhattan Associates (US), C.H. Robinson (US), Trimble (US), WiseTech Global (Australia), Descartes (Canada), E2open (US), Generix Group (France), MercuryGate (US), Blue Yonder (US), Uber Freight (US), Alpega Group (Belgium), Worldwide Express (US), Infor (US), 3Gtms (US), Shipwell (US), 3T Logistics & Technology Group (UK), Ratelinx (US), oTMS (China), nShift (UK), BlueRock Logistics (Netherlands), Elemica (US), TESISQUARE (Italy), DDS Logistics (France), vTradEx (China), Shiptify (France), GlobalTranz (US), InMotion Global (US), Kinaxis (Canada), Logistically (US), One Network Enterprises (US), IntelliTrans (US), Allotrac (Australia), Revenova (US), Princeton TMX (US), CTSI Global (US), and PCS Software (US). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, collaborations, and new product launches, to expand their presence in the transportation management system market.
Manhattan Associates provides enterprise SCM solutions that offer enterprises flexibility and scalability. It is involved in developing, deploying, selling, and maintaining software solutions for managing supply chains, inventory, and omnichannel operations for retailers, wholesalers, manufacturers, logistics providers, etc. The company provides a reliable, cost-effective infrastructure to enhance business operations. It operates through three segments: software license, services, hardware, and others. Manhattan Associates offers a portfolio of supply chain solutions that consist of demand management, order management, labor management and planning, transportation management, and inventory management and planning. To enable enterprises to manage all transportation functions, the company caters to transportation and logistics management solutions in the cloud or on-premises across the network. It includes freight and billing conciliations and freight tracking and tracing capability. It also supports private fleet and common carrier management. Manhattan TMS solution suite offers transportation planning, optimization, and execution technology.
C.H. Robinson is a prominent player in transportation management and provides one of the world’s largest logistics platforms. It also offers logistics services, such as truckload, less than truckload, ocean shipping, air freight, customs brokerage, trade compliance services, and TMS for SMEs and large enterprises. The company delivers smarter solutions to over 119,000 customers and 78,000 contract carriers worldwide through its multimodal TMS. The company offers its solutions to various industries, including automotive, chemical and plastics, energy, food, beverage, government, education, healthcare, manufacturing, paper, packaging, transportation, warehouse, and technology and electronics logistics.
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