COVID Supply Chain Challenges Prompt Technology Investment - Global TMS Revenues to Nearly Double to US $31 Billion by 2025
The expanding supply chain complexity underscores the need for synergistic technologies from AI to real-time tracking
OYSTER BAY, N.Y., March 3, 2021 /PRNewswire/ -- Proven ROI is the primary argument for Transportation Management System (TMS) adoption. Synergistic technologies like predictive analytics, automation, real-time tracking, machine learning, AI, and blockchain will continue to evolve for greater flexibility, improved customer support, and enhanced forecasting capabilities. TMS solutions enable greater visibility, efficiency, reliability, and flexibility of freight movement across modes, cargo types, and geographies. According to ABI Research, a global tech market advisory firm, worldwide TMS revenues are expected to nearly double from US$16 billion in 2020 to reach over US$31 billion in 2025. Leading providers include Blue Yonder, SAP, and Oracle. Partnerships with TMS suppliers are growing, like Werner Enterprises with Mastery Logistics Systems and Dana Inc. with Transplace.
"There is growing usage of open APIs and Software Development Kits (SDKs) to create customized solutions for different sized companies, verticals, and geographies as well as partners and co-opetition," explains Susan Beardslee, Principal Analyst, Freight Transportation & Logistics. "Adoption triggers include capacity constraints, which are growing ever tighter (including driver shortages back to 2018 levels) and pushing up costs toward the double-digits. Beyond that, consumers and businesses continue to push for more granularity in answering, "where's my stuff?" with an ETE, real-time response."
The expanding complexity of the supply chain has called into question the effectiveness of traditional solutions. Supply chain leaders across all verticals need to adopt a more advanced and inclusive approach to forecasting and adapting to a continually changing environment. A growing list of cloud-based software vendors is offering Artificial Intelligence (AI) and advanced analytics capabilities. These solutions can reliably interpret data from many complex indicators and execute more insightful and connected strategies.
These findings are from ABI Research's Intelligent Supply Chain market data report. This report is part of the company's Freight Transportation & Logistics research service, which includes research, data, and ABI Insights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.
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