MarketsandMarkets forecasts the global transportation management system market size is expected to grow from USD 11.7 billion in 2022 to USD 28.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period.
The demand for greater agility in transportation and logistics operations that support businesses to deliver superior customer experience mainly driven by digital transformation across the industry will drive the market. Furthermore, the technological advancements in the transportation and logistics industry along with 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 will drive the market. The presence of various key players in the ecosystem has led to a competitive and diverse market.
Various globally established players such as Oracle (US), SAP ( Germany), Manhattan Associates (US), C.H. Robinson (US) and Blue Yonder (US), are dominating the transportation management system market. In this market various strategies such as enhancements; partnerships, expansions, new product launches, collaboration, agreements, and acquisitions; and other growth strategies adopted by the top key players.
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Oracle launched Oracle Fusion Cloud Supply Chain & Manufacturing to enable customers to minimize costs, reduce risk, improve customer experience, and navigate disruptions. Oracle and RHI Magnesita, one of the world’s leading suppliers of refractory products, selected Oracle Fusion Cloud Transportation Management, part of Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), to support the company’s expansion and technology modernization.
SAP released a new SAP S/4HANA transportation management 2020, which offered improved transportation planning and load optimization, enhanced usability to simplify and automate business processes, and state-of-the-art integration of synchronized business operations. The company also collaborated with Sedna System. The integration of SAP Transportation Management System (TMS) with Sedna Systems’ team collaboration and email management solution will allow shippers using both products to gain a whole new level of control over transportation management-related data.
Transportation Management System Market by Component (Solutions, Services), Transportation Mode (Roadways, Railways, Airways), Deployment Type (On-premises, Cloud), Organization Size, Vertical, End User (Shippers, 3PL) & Region - Global Forecast to 2027
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