The global Digital Freight Management Market is forecasted to be appraised at USD 34,559.8 Million by 2032, up from USD 14,083.5 Million in 2022, advancing at a CAGR of 9.4% during the forecast period. The rise in global and domestic trade, high volume of data, and improved service quality are likely to surge the adoption of digital freight management.
Although, the high costs associated with the sophisticated equipment and licensing of the software are expected to impede global market growth. Conversely, the high adoption of cloud technology and globalization of the retail sector generates remunerative opportunities in the market.
Attributes | Details |
---|---|
Digital Freight Management Market Size (2022) | USD 14,083.5 Million |
Digital Freight Management Market Size (2032) | USD 34,559.8 Million |
Digital Freight Management Market CAGR | 9.4% |
In 2019, the Government of India spent 100 Cr in Indian Rupees by prioritizing big data, artificial intelligence (AI), and the Internet of Things (IoT) to transform the country’s supply chain and logistics business, as stated according to NITI Aayog. Moreover, various market players are increasingly utilizing truck equipment pools to boost productivity and accelerate cargo movement within the transportation chain.
Through mobile applications, there has been an increasing focus on centralizing several logistics processes and operations. This is likely to accommodate carriers by allowing them access to fewer channels and facilitating the interaction with the same. Additionally, 3PLs assist in meeting customer requirements and market conditions by integrating transportation and warehousing services operations.
The growth of free trade policy in different countries is surging the business of imports and exports across the globe, which is likely to secure the adoption of digital freight management. Moreover, delivery capabilities can be improved through the deployment of this software by several transport enterprises.
Digital freight management offers a lesser time frame, flexibility, and accuracy in delivery services which aids in optimizing the efficiency of commercial freight operations. In addition, this software can be operated by leveraging technologies which becomes an asset for proficient operations.
The introduction of various enterprise management suites (ERP) and big data analysis reduces human exertion to handle numerous complex operations. Improved cash flow and transportation & logistics are increasing the usage of blockchain technology, likely bolstering the demand for digital freight management.
There has been increasing difficulty in the on-time delivery of products and raw materials owing to the expansion of the e-commerce sector, which is likely to surge the fleet owners to administer an efficient freight management system. Additionally, the e-commerce sector is exploring ways to reduce operational costs and delivery times by creating new business solutions and models by automating material handling systems, digitalizing logistics operations, and distribution and warehouse management systems.
Trained and expensive human resource is required to operate such sophisticated equipment and software. Hence, this is likely to increase the overall cost for end users. The lack of such operational effectiveness may be a significant challenge for the digital freight management market share.
On the contrary, several innovations in the field of data analytics, AI, and ERP are anticipated to assist industries in operating across borders. Therefore, by creating novel technologies, key players are focusing on research and development activities to improve the IT infrastructure.
Trucks and last-mile robots unlock new levels of quality, safety, and efficiency through the deployment of self-driving vehicles, which ultimately aims to transform freight management solutions. Furthermore, the enhancement of management systems combined with the upgradation of tracking, monitoring, and integrated systems are anticipated to promote several growth opportunities got the digital freight management market share.
The USA is conventionally the global leader in international trade, which makes North America the largest digital freight management market, with a remarkable revenue of 31.8%.
The presence of large IT companies, as well as freight management services and solutions in this region, are attributed to the global market growth. Digitalization and other technological developments, along with the growth of the e-commerce sector, are further estimated to contribute to the digital freight management market growth.
Europe is the second leading digital freight management market, with a profit of 25.3%. This is attributed to the presence of several IT companies, increased technological advancements, and the high adoption of freight management system tools.
Start-up companies in the digital freight management market are creating unique strategies such as tracking of freight shipments, goods consolidation, AI-enabled freight forwarding services, etc., to cater to the transport, FMCG, construction, etc. sectors.
Zencargo - It is a provider of AI-enabled freight forwarding services. Its platform enables instant quotes, booking, and tracking of freight shipments, warehousing and fulfillment, analytics, multi-modal freight forwarding, and supply chain optimization. It caters to FMCG, fashion, construction, and packaging industries. Its clients include Ribble and Catapult.
Forto - It is a provider of tech-enabled freight forwarding services. Its platform enables multi-modal cargo transport and freight forwarding. It includes features like fulfillment and warehousing through its logistics partners, contract management and negotiation, online shipment booking and tracking, real-time quotations, documentation, customs clearance, and goods consolidation. Its clients include Miweba, Zero, and Viessmann.
Convelio - It is a tech-enabled freight forwarder focused on logistics services of fine art, antiques, design pieces, and other bulky/fragile/valuable/sensitive items. Users can provide relevant load & shipping details to book door-to-door shipping services (including pick-up, last-mile delivery, packing, customs clearance, insurance, etc.). The platform also offers additional features for document management, real-time tracking, claims management, and more.
Freightwalla - It is a provider of tech-enabled freight forwarding services. The company offers cargo tracking, booking & searching services, automated documentation, reporting, etc. It also enables businesses to digitalize their workflows.
Nowports - It is an AI and tech-enabled freight forwarding service provider. It is a digital platform that allows users to book their multi-modal freight forwarding services. Its features include live shipment tracking, shipment history reports, transparent rates prior to shipping, communication between clients and suppliers, optimized routing, and visibility into cargo handling. It caters to the automotive, cleaning, furniture, refrigeration, and dairy products industries. Its clients include Grin Scooters.
Cargo.one - It is an online marketplace for air freight forwarding services. The platform enables users to search, compare and book air freight services from multiple carriers (such as Dachser, Lufthansa Cargo, JAS, and Leisure Cargo, among others) after providing relevant details. Features include real-time pricing, real-time tracking of cargo/shipments, and more.
Owing to the presence of a large number of players in the digital freight management market share, the market itself is fragmented and competitive. The increasing penetration and growing reliance on technology for negotiating rates, contacting carriers, scheduling, and controlling fleet operations are further leading to global market growth.
The latest developments in the digital freight management market are:
Start-up companies in the digital freight management market are creating unique strategies such as tracking of freight shipments, goods consolidation, AI-enabled freight forwarding services, etc., to cater to the transport, FMCG, construction, etc. sectors.
Zencargo - It is a provider of AI-enabled freight forwarding services. Its platform enables instant quotes, booking, and tracking of freight shipments, warehousing and fulfillment, analytics, multi-modal freight forwarding, and supply chain optimization. It caters to FMCG, fashion, construction, and packaging industries. Its clients include Ribble and Catapult.
Forto - It is a provider of tech-enabled freight forwarding services. Its platform enables multi-modal cargo transport and freight forwarding. It includes features like fulfillment and warehousing through its logistics partners, contract management and negotiation, online shipment booking and tracking, real-time quotations, documentation, customs clearance, and goods consolidation. Its clients include Miweba, Zero, and Viessmann.
Convelio - It is a tech-enabled freight forwarder focused on logistics services of fine art, antiques, design pieces, and other bulky/fragile/valuable/sensitive items. Users can provide relevant load & shipping details to book door-to-door shipping services (including pick-up, last-mile delivery, packing, customs clearance, insurance, etc.). The platform also offers additional features for document management, real-time tracking, claims management, and more.
Freightwalla - It is a provider of tech-enabled freight forwarding services. The company offers cargo tracking, booking & searching services, automated documentation, reporting, etc. It also enables businesses to digitalize their workflows.
Nowports - It is an AI and tech-enabled freight forwarding service provider. It is a digital platform that allows users to book their multi-modal freight forwarding services. Its features include live shipment tracking, shipment history reports, transparent rates prior to shipping, communication between clients and suppliers, optimized routing, and visibility into cargo handling. It caters to the automotive, cleaning, furniture, refrigeration, and dairy products industries. Its clients include Grin Scooters.
Cargo.one - It is an online marketplace for air freight forwarding services. The platform enables users to search, compare and book air freight services from multiple carriers (such as Dachser, Lufthansa Cargo, JAS, and Leisure Cargo, among others) after providing relevant details. Features include real-time pricing, real-time tracking of cargo/shipments, and more.
Accenture plc - It is an Irish-American professional services company based in Dublin, specializing in information technology services and consulting. A Fortune Global 500 company, it reported revenues of $50.53 billion in 2021.
CEVA Logistics - It is a global logistics and supply chain company in both freight management and contract logistics with USD 12 billion in revenues. Its head office is in Marseille, France, and it was founded in 2007 as a merger of TNT Logistics and EGL Eagle Global Logistics.
CTSI-Global - It is a Memphis-based firm that provides freight-invoice processing and related supply chain management technology and consulting services. CEO J. Kenneth Hazen acquired the company in 1982.
The Descartes System Group Inc. - It is a Canadian multinational technology company specializing in logistics software, supply chain management software, and cloud-based services for logistics businesses.
DSV A/S - It is a Danish transport and logistics company offering transport services globally by road, air, sea, and train.
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 9.4% from 2022 to 2032 |
The base year for estimation | 2021 |
Historical data | 2017 to 2021 |
Forecast period | 2022 to 2032 |
Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
Report Coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
Segments Covered | Solutions, Technology, Services, and Region. |
Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia; and New Zealand |
Country scope | United States of America, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
Key companies profiled | Accenture plc; CEVA Logistics; CTSI-Global; The Descartes System Group Inc.; DSV A/S; High Jump Software; JDA Software Group Inc.; Manhattan Associates; United Parcel Service of North America Inc.; C.H. Robinson; Cargocentric Inc.; J.B. Hunt Transport Inc.; Kintetsu World Express; Kuehne + Nagel International AG; Loadsmart Inc.; Panalpina World Transport (Holding) Ltd.; etc. |
Customization scope | Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
Table 1: Global Value (US$ Million) Forecast by Region, 2017 to 2032
Table 2: Global Value (US$ Million) Forecast by Solutions, 2017 to 2032
Table 3: Global Value (US$ Million) Forecast by Technology, 2017 to 2032
Table 4: Global Value (US$ Million) Forecast by Services, 2017 to 2032
Table 5: North America Value (US$ Million) Forecast by Country, 2017 to 2032
Table 6: North America Value (US$ Million) Forecast by Solutions, 2017 to 2032
Table 7: North America Value (US$ Million) Forecast by Technology, 2017 to 2032
Table 8: North America Value (US$ Million) Forecast by Services, 2017 to 2032
Table 9: Latin America Value (US$ Million) Forecast by Country, 2017 to 2032
Table 10: Latin America Value (US$ Million) Forecast by Solutions, 2017 to 2032
Table 11: Latin America Value (US$ Million) Forecast by Technology, 2017 to 2032
Table 12: Latin America Value (US$ Million) Forecast by Services, 2017 to 2032
Table 13: Europe Value (US$ Million) Forecast by Country, 2017 to 2032
Table 14: Europe Value (US$ Million) Forecast by Solutions, 2017 to 2032
Table 15: Europe Value (US$ Million) Forecast by Technology, 2017 to 2032
Table 16: Europe Value (US$ Million) Forecast by Services, 2017 to 2032
Table 17: Asia Pacific Value (US$ Million) Forecast by Country, 2017 to 2032
Table 18: Asia Pacific Value (US$ Million) Forecast by Solutions, 2017 to 2032
Table 19: Asia Pacific Value (US$ Million) Forecast by Technology, 2017 to 2032
Table 20: Asia Pacific Value (US$ Million) Forecast by Services, 2017 to 2032
Table 21: Middle East and Africa Value (US$ Million) Forecast by Country, 2017 to 2032
Table 22: Middle East and Africa Value (US$ Million) Forecast by Solutions, 2017 to 2032
Table 23: Middle East and Africa Value (US$ Million) Forecast by Technology, 2017 to 2032
Table 24: Middle East and Africa Value (US$ Million) Forecast by Services, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Solutions, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by Technology, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by Services, 2022 to 2032
Figure 4: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 8: Global Market Value (US$ Million) Analysis by Solutions, 2017 to 2032
Figure 9: Global Market Value Share (%) and BPS Analysis by Solutions, 2022 to 2032
Figure 10: Global Market Y-o-Y Growth (%) Projections by Solutions, 2022 to 2032
Figure 11: Global Market Value (US$ Million) Analysis by Technology, 2017 to 2032
Figure 12: Global Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 13: Global Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 14: Global Market Value (US$ Million) Analysis by Services, 2017 to 2032
Figure 15: Global Market Value Share (%) and BPS Analysis by Services, 2022 to 2032
Figure 16: Global Market Y-o-Y Growth (%) Projections by Services, 2022 to 2032
Figure 17: Global Market Attractiveness by Solutions, 2022 to 2032
Figure 18: Global Market Attractiveness by Technology, 2022 to 2032
Figure 19: Global Market Attractiveness by Services, 2022 to 2032
Figure 20: Global Market Attractiveness by Region, 2022 to 2032
Figure 21: North America Market Value (US$ Million) by Solutions, 2022 to 2032
Figure 22: North America Market Value (US$ Million) by Technology, 2022 to 2032
Figure 23: North America Market Value (US$ Million) by Services, 2022 to 2032
Figure 24: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 25: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 28: North America Market Value (US$ Million) Analysis by Solutions, 2017 to 2032
Figure 29: North America Market Value Share (%) and BPS Analysis by Solutions, 2022 to 2032
Figure 30: North America Market Y-o-Y Growth (%) Projections by Solutions, 2022 to 2032
Figure 31: North America Market Value (US$ Million) Analysis by Technology, 2017 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 34: North America Market Value (US$ Million) Analysis by Services, 2017 to 2032
Figure 35: North America Market Value Share (%) and BPS Analysis by Services, 2022 to 2032
Figure 36: North America Market Y-o-Y Growth (%) Projections by Services, 2022 to 2032
Figure 37: North America Market Attractiveness by Solutions, 2022 to 2032
Figure 38: North America Market Attractiveness by Technology, 2022 to 2032
Figure 39: North America Market Attractiveness by Services, 2022 to 2032
Figure 40: North America Market Attractiveness by Country, 2022 to 2032
Figure 41: Latin America Market Value (US$ Million) by Solutions, 2022 to 2032
Figure 42: Latin America Market Value (US$ Million) by Technology, 2022 to 2032
Figure 43: Latin America Market Value (US$ Million) by Services, 2022 to 2032
Figure 44: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 48: Latin America Market Value (US$ Million) Analysis by Solutions, 2017 to 2032
Figure 49: Latin America Market Value Share (%) and BPS Analysis by Solutions, 2022 to 2032
Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Solutions, 2022 to 2032
Figure 51: Latin America Market Value (US$ Million) Analysis by Technology, 2017 to 2032
Figure 52: Latin America Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 54: Latin America Market Value (US$ Million) Analysis by Services, 2017 to 2032
Figure 55: Latin America Market Value Share (%) and BPS Analysis by Services, 2022 to 2032
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Services, 2022 to 2032
Figure 57: Latin America Market Attractiveness by Solutions, 2022 to 2032
Figure 58: Latin America Market Attractiveness by Technology, 2022 to 2032
Figure 59: Latin America Market Attractiveness by Services, 2022 to 2032
Figure 60: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 61: Europe Market Value (US$ Million) by Solutions, 2022 to 2032
Figure 62: Europe Market Value (US$ Million) by Technology, 2022 to 2032
Figure 63: Europe Market Value (US$ Million) by Services, 2022 to 2032
Figure 64: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 65: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 66: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 67: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 68: Europe Market Value (US$ Million) Analysis by Solutions, 2017 to 2032
Figure 69: Europe Market Value Share (%) and BPS Analysis by Solutions, 2022 to 2032
Figure 70: Europe Market Y-o-Y Growth (%) Projections by Solutions, 2022 to 2032
Figure 71: Europe Market Value (US$ Million) Analysis by Technology, 2017 to 2032
Figure 72: Europe Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 73: Europe Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 74: Europe Market Value (US$ Million) Analysis by Services, 2017 to 2032
Figure 75: Europe Market Value Share (%) and BPS Analysis by Services, 2022 to 2032
Figure 76: Europe Market Y-o-Y Growth (%) Projections by Services, 2022 to 2032
Figure 77: Europe Market Attractiveness by Solutions, 2022 to 2032
Figure 78: Europe Market Attractiveness by Technology, 2022 to 2032
Figure 79: Europe Market Attractiveness by Services, 2022 to 2032
Figure 80: Europe Market Attractiveness by Country, 2022 to 2032
Figure 81: Asia Pacific Market Value (US$ Million) by Solutions, 2022 to 2032
Figure 82: Asia Pacific Market Value (US$ Million) by Technology, 2022 to 2032
Figure 83: Asia Pacific Market Value (US$ Million) by Services, 2022 to 2032
Figure 84: Asia Pacific Market Value (US$ Million) by Country, 2022 to 2032
Figure 85: Asia Pacific Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 88: Asia Pacific Market Value (US$ Million) Analysis by Solutions, 2017 to 2032
Figure 89: Asia Pacific Market Value Share (%) and BPS Analysis by Solutions, 2022 to 2032
Figure 90: Asia Pacific Market Y-o-Y Growth (%) Projections by Solutions, 2022 to 2032
Figure 91: Asia Pacific Market Value (US$ Million) Analysis by Technology, 2017 to 2032
Figure 92: Asia Pacific Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 93: Asia Pacific Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 94: Asia Pacific Market Value (US$ Million) Analysis by Services, 2017 to 2032
Figure 95: Asia Pacific Market Value Share (%) and BPS Analysis by Services, 2022 to 2032
Figure 96: Asia Pacific Market Y-o-Y Growth (%) Projections by Services, 2022 to 2032
Figure 97: Asia Pacific Market Attractiveness by Solutions, 2022 to 2032
Figure 98: Asia Pacific Market Attractiveness by Technology, 2022 to 2032
Figure 99: Asia Pacific Market Attractiveness by Services, 2022 to 2032
Figure 100: Asia Pacific Market Attractiveness by Country, 2022 to 2032
Figure 101: Middle East and Africa Market Value (US$ Million) by Solutions, 2022 to 2032
Figure 102: Middle East and Africa Market Value (US$ Million) by Technology, 2022 to 2032
Figure 103: Middle East and Africa Market Value (US$ Million) by Services, 2022 to 2032
Figure 104: Middle East and Africa Market Value (US$ Million) by Country, 2022 to 2032
Figure 105: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 106: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 107: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 108: Middle East and Africa Market Value (US$ Million) Analysis by Solutions, 2017 to 2032
Figure 109: Middle East and Africa Market Value Share (%) and BPS Analysis by Solutions, 2022 to 2032
Figure 110: Middle East and Africa Market Y-o-Y Growth (%) Projections by Solutions, 2022 to 2032
Figure 111: Middle East and Africa Market Value (US$ Million) Analysis by Technology, 2017 to 2032
Figure 112: Middle East and Africa Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 113: Middle East and Africa Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 114: Middle East and Africa Market Value (US$ Million) Analysis by Services, 2017 to 2032
Figure 115: Middle East and Africa Market Value Share (%) and BPS Analysis by Services, 2022 to 2032
Figure 116: Middle East and Africa Market Y-o-Y Growth (%) Projections by Services, 2022 to 2032
Figure 117: Middle East and Africa Market Attractiveness by Solutions, 2022 to 2032
Figure 118: Middle East and Africa Market Attractiveness by Technology, 2022 to 2032
Figure 119: Middle East and Africa Market Attractiveness by Services, 2022 to 2032
Figure 120: Middle East and Africa Market Attractiveness by Country, 2022 to 2032
The digital freight management market is likely to garner a CAGR of 9.4%, during the forecast period.
North America is the leading digital freight management market with a share of 31.8% in 2022.
By 2032, the digital freight management market is likely to grow to a valuation of USD 34,559.8 Million.
Explore Similar Insights
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.