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.
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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.
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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.
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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. |
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.
1. Executive Summary | Digital Freight Management Market 2. Market Overview 3. Market Background 4. Global Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, By Solutions 5.1. Logistics Management System 5.2. Baggage And Cargo Screening System 5.3. Freight Operational Management System 5.4. Security Monitoring System 6. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology 6.1. Surveillance System 6.2. X-rays 6.3. Detectors And Radiations 7. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, By Services 7.1. Professional Services 7.2. Support And Maintenance 7.3. System Integration 8. Global Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa 9. North America Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Middle East and Africa Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Accenture 16.2. CEVA Logistics 16.3. CTSI – Global, Descartes System Group 16.4. DSV 16.5. High Jump Software 16.6. JDA Software Group, Inc 16.7. Manhattan Associates 16.8. MercuryGate 16.9. Dreamorbit 16.10. Mcleod Software 17. Assumptions & Acronyms Used 18. Research Methodology
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Digital Freight Management Market
