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.
Browse The Press Release:
http://www.transparencymarketresearch.com/pressrelease/transportation-management-system-market-2017-2025.htm
“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.
As per TMR, the global
transportation management system market is forecast to reach US$30.04
bn by the end of 2025, from its earlier valuation of US$9.6 bn in
2016. If these figures hold true, the market will exhibit a CAGR of
13.6% between 2017 and 2025.
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.
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.
This review is based on a TMR
study, titled “Transportation Management System Market (Application
- Electrical and Electronics, Industrial, Food and Beverage, Retail,
and Transportation and Logistics; Software Deployment - On-Premise
and On-Demand) - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2017 - 2025
About
Us
Transparency Market Research
(TMR) is a next-generation provider of syndicated research,
customized research, and consulting services. TMR’s global and
regional market intelligence coverage includes industries such as
pharmaceutical, chemicals and materials, technology and media, food
and beverages, and consumer goods, among others. Each TMR research
report provides clients with a 360-degree view of the market with
statistical forecasts, competitive landscape, detailed segmentation,
key trends, and strategic recommendations
U.S.
Office
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free:
866-552-3453
Email:
sales@transparencymarketresearch.com
Website:
www.transparencymarketresearch.com
No comments:
Post a Comment