Dominance in the global transportation management system (TMS) market
is with a few companies, despite which the market exhibits
considerable opportunities for emerging players. Currently, companies
such as SAP SE, Oracle Corporation, Descartes Systems Group, JDA
Software Group, and Manhattan Association hold dominance in the
global transportation management system market, says Transparency
Market Research (TMR) in a new study. The report also identifies
companies such as BluJay Solutions, One Network Enterprise, Precision
Software, Inc., and CargoSmart Ltd as key emerging players in the
global transportation management system market.
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“Companies targeting dominance, are focusing on upgrading their
existing transportation management product portfolio,” said a lead
TMR analyst. Besides this, closely monitoring consumer preference to
provide them customized solution is a key strategy adopted by the
market players. Considering conscious efforts made my market players
to gain traction, the market is poised to surge at an exponential
pace.
North America Emerges as Leading Regional Market
By end-use application, the transportation and logistics segment held
dominance in the market with a share of 67.5% in 2016. Regionally,
North America emerged as the dominant segment with a share of 37.5%
in the overall revenue generated by the global transportation
management system market. The rising demand for cloud-based
transportation management system is forecast to help the market
continue strongly through the forecast period.
Demand for Updated Supply Chain Applications to Boost Growth
Globally the demand for advanced technologies to replace their
conventional counterparts is at its peak. Cashing in on the trend,
the manufacturers of transportation management system are likely to
offer innovative solutions. A majority of TMR solutions in operation
at present, were deployed prior to the proliferation of smartphones
and tablets. Updating supply chain applications although a difficult
task, has thus become imperative. Furthermore, it will provide
several cost benefits to transportation companies, which is a key
factor aiding growth in the global transportation management system
market.
Besides this, the rise in intermodal transportation is expected to
fuel the demand for TMR solutions. Also with the growing popularity
of software-as-a-service (SaaS)-based TMR solutions, the market is
expected to witness greater demand from logistics and transportation
companies.
Lack of Awareness among End Users to Limit Scope of Expansion
On the downside, the lack of awareness among end users and high
deployment costs are the prime challenges that the market players are
faced with at present. While there has been a gradual increase in
awareness about upgrading TMS capabilities, a large section in the
shipping industry is still unaware of its associated benefits. This
could hinder the market’s trajectory to an extent. Also deploying
evolving technologies necessitate regular up gradation of older
versions of a software. This increases software cost, which is also
expected to create challenges for the market.
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Nevertheless, the advent of cloud computing and integration of RFID
technologies in transport management are expected to bolster
opportunities for the global transportation management system market
in the near future.
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material for business reports.
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