The global Transportation Management System Market is expected to grow from USD 78.20 Billion in 2017 to USD 202.14 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period as per a report by MarketsandMarkets.
Why rise of SaaS and cloud is an opportunity?
The advent of cloud applications in the transportation industry has ensured that companies no longer need to worry about upfront investments in terms of software, hardware, and storage. Several cloud-based transportation management system solutions are now available in the marketplace, such as Omnitracs Transportation Management System, which is delivered in the solution as a service (SaaS) web model, and eSOMA, a cloud-based transportation management enterprise resource planning (ERP) solution.
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Cloud-based transportation management systems are empowering companies to connect with their global supply chain partners in real time by giving them role-based access to the same system. These systems ensure compliance with legislation and enable delivery automation and real-time visibility across the global supply chain. These integrated solutions automate the freight management process, starting from the carrier selection to the final delivery of shipments. They also enable multiple supply chain partners to collaborate in real time to resolve issues as they arise, thereby creating huge opportunities for cloud-based solution providers in the transportation management system market.
How insufficient infrastructure investmentspresents a challenge?
Infrastructure is the backbone of any business and investments are essential to stimulate and sustain growth. The unavailability of advanced transportation management system solutions leads to undue delays in the movement of goods from the manufacturer to the end user, resulting in additional expenses. Lack of investments in transportation infrastructure and socio-economic and political factors in developing nations are the major challenges in the growth of the transportation management system market. APM Terminals (The Netherlands), for example, has invested around USD 200 million jointly with Compas S.A. to expand and upgrade the “Cartagena Terminal”, including state-of-the-art terminal equipment.
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Major vendors offering transportation management solutions and services include SAP SE (Germany), Oracle (US), Manhattan Associates (US), Descartes (Canada), JDA Software (US), CTSI-Global (US), Inet-Logistics GMBH (Austria), BluJay Solutions (UK), MercuryGate International (US), and Efkon AG (Austria).
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