Transportation Management system (TMS) is a software and solution or a subset of supply chain management that help companies to carry out operation more efficiently, reliably and cost effectively of the physical movements of goods. Most of the organisations use TMS software in order to manage and monitor their business. The augmented use of cloud computing technologies for managing supply chain activities is one of the significant and major trends that have been prevailing in the growth of the transportation management systems market globally.According to AMA, the market for Transportation Management Systems (Tms) is expected to register a CAGR of 10.8% during the forecast period to 2024. This growth is primarily driven by Continuously Increasing Global Trade and the Need to Control the Time-In-Transit and Increased Transportation Information and Supply Chain Visibility.
Globally, a noticeable market trend is evident The Growth in Deployment of Internet of Things (IoT) and Big Data Technology to Get Real-Time Information of Logistics
. Major Manufacturers, such as Trimble Transportation Enterprise Solutions, Inc. (United States), SAP SE (Germany), Oracle Corporation (United States), Metro Infrasys Private Limited (India), Mercurygate International Inc. (United States), Manhattan Associates (United States), JDA Software Group Inc. (United States), Inet-Logistics GmbH (Austria), Efkon AG (Austria), Descartes (United States), CTSI-Global (United States) and IBM Corporation (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In May 2019, MercuryGate International Inc., a leader in Transportation Management System (TMS) solutions, announced a partnership and technology integration with Convey Inc., the leading provider of Delivery Experience Management (DEM) software. The partnership integrates Convey’s Delivery Experience Management technology into MercuryGate’s TMS solutions to allow shippers to launch DEM programs that provide complete visibility through the last mile of delivery.
California Consumer Privacy Act (CCPA) is passing a law for protection of data in United States which will be effective by January, 2020. It is expected to be country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance
- Continuously Increasing Global Trade and the Need to Control the Time-In-Transit
- Increased Transportation Information and Supply Chain Visibility
- The Growth in Deployment of Internet of Things (IoT) and Big Data Technology to Get Real-Time Information of Logistics
- Surging Blockchain in Freight Management
- Insufficient IT Investment for Transportation Infrastructure in Developing Economies
- High Data Security Concerns
Growing Adoption of Cloud Technology and Increasing Demand for Software as a Service (SaaS)
Lack of Awareness Regarding Transport Management System Among Numerous End-Use Industries in Developing Economies
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