The transportation management systems market forms an increasingly important subset of the management of supply chains. Most of the efforts taken up in using TMS are concerned with transportation itself. Some users of TMS keep it incorporated into the ERP systems, but a TMS is more commonly found between the distribution methods and the ERP. The TMS node is expected to oversee both procurement as well as shipping orders. This gives TMS a good deal of control over offering multiple transportation options to the user, to be investigated further in different perspectives.
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The global transportation management systems market was valued at US$6.8 bn in 2013. A chain of strong factors is expected to aid this market in its future growth. These factors are causing the market to exhibit a CAGR of 12.20% within an ongoing forecast period from 2014 to 2022. By the end of this period, the global TMS market is expected to reach US$19.2 bn in 2022. Raking in the profits are key players in the global TMS market such as Precision Software Inc., CargoSmart Ltd., JDA Software Group Inc., Lean Logistics Inc., 3GTMS Inc., Oracle Corp., One Network Enterprises, Manhattan Associates Inc., Descartes Systems Group Inc., and SAP SE.
SaaS Improves the Way TMS can Work
One of the greater drivers of the global TMS market is the influx of SaaS-based TMS solutions. An increasing number of clients are demanding the software-as-a-service approach for the use of TMS, as it allows a higher level of control over the system. SaaS TMS solutions also provide all additional benefits of any SaaS platform, such as lower entry cost, shorter time-to-market, higher rates of adoption, and a high level of scalability and integration. At the same time, the global TMS market is also being propelled by the growing usage of intermodal transport across multiple regions. An increasing number of countries are seeing the advantages of using intermodal transportation, as it allows for the use of multiple transportation means without having to handle the goods themselves.
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North America Leads Global TMS Market through SaaS Usage
The global TMS market was dominated by North America in 2013 and it is expected for the region to maintain its leading position for the time being. The biggest reason for this region dominating the global TMS market is the early adoption of SaaS platforms in TMS as well as the rapidly increasing adoption rate of SaaS platforms across the region. The region also leads the global TMS market due to the high rate of use of cloud-based platforms and RFID tracking technology.
A large number of the top companies in the global TMS market are from North America, furthering the progress of this regional market. Meanwhile, all market players in the global TMS market are currently focusing on expanding the capabilities of the TMS platforms that they offer. Developers are looking beyond the traditional scope of TMS and are trying to incorporate changes that will make the job a lot easier and smarter for operators.