A recent report published by Infinium Global Research on transportation management systems (TMS) market provides an in-depth analysis of segments and sub-segments in the global as well as regional transportation management systems (TMS) market. The global transportation management systems (TMS) market is projected to grow at a CAGR of 13.4% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 03/20/2019 -- The latest report has been added to the wide database of Transportation Management Systems (TMS) Market by Infinium Global Research. This report studies the Transportation Management Systems (TMS) Market by components (hardware, solutions, services), transportation mode (roadways, seaways), deployment type (on-premise, on-demand), application (industrial, consumer goods, retail, logistics, electronics, electrical) market status and outlook of global and major regions, from manufacturers, and end industries.
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The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. Transportation Management Systems (TMS) Market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape, latest trends, and product offerings of the major companies in the Transportation Management Systems (TMS) Market.
Transportation Management Systems (TMS) Market: Market Insight
A transportation management system (TMS) is a subset of supply chain management (SCM) software, which deals with the planning, execution, and optimization of transport logistics. TMS systems simplify the interactions between an Order Management System (OMS) and the Warehouse or Distribution Center (DC). TMS comes as a module within enterprise resource planning (ERP) and SCM suites, which helps in moving the inbound procurement and outbound shipment freight using tools including route planning and optimization, load building, operations execution, freight audit and payment, yard management, order visibility, and carrier management. The goal of a TMS is to optimize the loading of shipments and to create routes which minimize the total transportation costs for the organization.
Transportation Management Systems (TMS) Market: Drivers and Restraints
Increase in the competition among the transport market players and growing channel congestion have led to increased shipment of goods across the globe which requires an efficient transport management system. The demand for TMS is increasing also due to growing concerns about safety standards while transportation, storage, and handling of goods. Additionally, the development of cloud-based deployment model has contributed to the growing demand for TMS. The cloud-based TMS requires less customization and configuration, which makes it more user-friendly. Furthermore, increasing preference for SaaS-based TMS has played a significant role in pushing the demand for TMS. Upgradation and replacement of existing conventional transport management system are also likely to promote the growth of the market. However, the high cost of installation and lack of awareness are major setbacks to the growth of the global TMS market.
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Transportation Management Systems (TMS) Market: Segmentation
The global transportation management systems (TMS) market is segmented on the basis of components, transportation mode, deployment type, and application. On the basis of components, the sub-markets include hardware, solutions, and services. On the basis of transportation mode, the sub-markets include roadways and seaways. On the basis of deployment type, the sub-markets include on-premise, and on demand. On the basis of application, the sub-markets include industrial transportation, consumer goods and retail transportation, logistics transportation, electronics and electrical transportation, food & beverage transportation, and others.
Transportation Management Systems (TMS) Market: Regional Insight
On the basis of geography, the global transportation management systems (TMS) market is divided into four regions: North America, Europe, Asia-Pacific, and RoW. Among all the regions in the world, North America is the dominant market for transportation management systems. Growing retail sector and growing investment in e-commerce have contributed to the growth of the TMS market in this region. Many of the big retail chains and e-commerce shopping sites are adopting TMS for efficient transportation and logistics. Following North America, Europe is the second largest market for TMS software owing to a large number of exports of goods from this region. The Asia-pacific market is anticipated to grow with considerable growth rate due to increasing investment in the aviation market in this region.
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Transportation Management Systems (TMS) Market: Competitive Analysis
The key players in the global transportation management systems (TMS) market are MercuryGate International Inc., Amber Road, Inc., KRATZER AUTOMATION AG BluJay Solutions, Omnitracs, LLC, inet-logistics GmbH, CTSI-GLOBAL, The Descartes Systems Group Inc., and JDA Software Group, Inc. among others. Kuebix, one of the new entrants in the market, introduces FleetMAX, a program designed to fill the empty backhauls of private fleets and offer truckload capacity to the marketplace.