Today,as supply chains become more complex and stretch from one side of the world tothe other, companies are required to adapt to rapidly changing businessenvironments with increased resilient distribution operations, tighterinventory control and faster, more efficient processing. This all adds up tohigher demand for proficient and effective process execution.
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Consolidationis the major trend observed in this market where top players are acquiring thesmaller startup companies for their unique solution offerings which are thenlevered to improve their presence in the particular market. Solutions vendorsin this industry are spending huge amount of money on developing real-timesolutions. Optimization is the other trend seen in this market where the mainfocus is to reduce the losses which are caused due to the time delay.Optimization in inbound operations has also gained importance due to theconsumers demand for on-time delivery. Fleet management solutions have to bemanaged effectively and efficiently and use of analytics in managing thesefleets has been the main focus of the players. Shippers want the real-timeupdates for their goods and thus connectivity solutions related applicationshave been swiftly expanding.
Whiletechnology vendors continue to dominate the transportation and logisticssolutions space, Third-Party Logistics (3PL) providers are making their ownimpression. Transportation management continues to be a focal point as shippersconfront looming Hours-of-Service changes, inevitable capacity and drivershortages, and fluctuating fuel costs.
Todayand in the future too, the roadways is expected to be the most preferred way oftransport and then followed by the railways, intermodal, airways, and ships.There will be increase in the ocean ports as the logistics industry is expectedto expand due to formation of mega corridors connecting mega regions. Thoughthe trade via airways is reduced, it is expected to quietly grow in theupcoming years.
Consideringthe future trends, Europe followed by China are the leading countries in exportindustries and U.S., Europe, and China are at the top in import trade; thusthey are the main contributors in the revenue generation of transportationbusiness solutions. The developing countries are expected to experience rise inthe trade, in the future, demanding real-time updated transportation managementsolutions.
