Pune, India -- (SBWIRE) -- 08/28/2018 -- A transportation management system (TMS) is a software solution and a key component of supply chain management used to plan the movement of freight. TMS solutions ensure effective communication between carriers and shippers, enabling them to share real-time information. Thus, logistics and transportation companies increasingly prefer TMS solutions. Leading vendors in the transportation management system market are increasingly investing in transportation management software to offer customers, especially transport and logistics companies, a cost-efficient solution capable of running their freight management functions effectively.

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Growth in intermodal transportation coupled with the growing popularity of SaaS-based TMS solutions is primarily driving the growth of the global market. Further, increasing demand for advanced TMS solutions, replacing traditional outdated systems is strongly boosting the global market growth. Although updating supply chain applications is often a difficult task, the cost benefits achieved by advanced TMS solutions are driving the replacement demand. Updating TMS solutions ensures cost benefits when favored carriers are used on a regular basis or when favored procurement positions are negotiated and coordinated. However, lack of awareness among end users and high deployment costs are deterring the growth of the global market.

On the basis of end-use applications, the global TMS market is classified into: electrical and electronics, industrial, food and beverage, retail, transportation and logistics and others. Transportation and logistics held the largest share of the global market in 2016 and is expected to record steady growth from 2017 to 2025. Transportation and logistics companies across the globe are continually investing in transportation management software to improve operational efficiency, reduce cost, and enable themselves to run their freight management functions more effectively.

Furthermore, the report also segments the transportation management systems market on the basis of software deployment methods in to on-premise and on-demand solutions. On-premise solutions accounted for the maximum revenue share in 2016. Although, on-premise is expected to remain the largest application segment over the forecast period, on-demand solutions are expected to witness faster growth during the same period. On-demand TMS offers complete transportation planning, execution, procurement, and transportation visibility, improving transportation efficiency and achieving cost benefits. Thus, the global capabilities of on-demand solutions have ensured compliance by offering supply chain visibility and access to data meeting multi-regional regulations. With the shippers and transport companies increasingly preferring inter-modal transportation, the demand for on-demand solutions is expected witness robust growth over the forecast period from 2017 to 2025.

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The regional analysis of the transportation management systems market gives in-depth insights into the current trends prevailing in different regions including North America, Europe, Asia Pacific, and Rest of the World (RoW). Although North America was the largest TMS market in 2016, Asia Pacific is expected to pose as a stiff competitor to the developed markets of North America and Europe. A favorable trade environment in the region is supporting the growth of the logistics network in the region, which in turn is encouraging the transport service and logistics companies to increasingly deploy transportation management solutions for managing fleets of vehicles, planning and execution, and enhancing operational visibility.