The freight transport management global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Freight Transport Management Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The freight transport management market size has grown rapidly in recent years. It will grow from $24.54 billion in 2023 to $27.28 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to increased globalization, growing population, increase in demand for goods and services, increase in government policies aimed at promoting global trade, rising freight transportation.
The freight transport management market size is expected to see rapid growth in the next few years. It will grow to $41.18 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to trade expansion, rise of e-commerce industry, increasing complexity of supply chains, growing demand for freight management solutions, rising transport volumes. Major trends in the forecast period include technological advancements, inclination of growth toward information technology, product innovation, investment in advanced transport management solutions, advancements in freight transport management system.
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Scope Of Freight Transport Management Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Freight Transport Management Market Overview
Market Drivers -The rise of the e-commerce industry is expected to propel the growth of the freight transport management market going forward. The e-commerce industry refers to the buying and selling goods and services over the internet. It encompasses many online transactions, including retail purchases, online auctions, digital downloads, and business-to-business trading. The e-commerce industry is growing due to increased internet penetration, expanding mobile connectivity, convenience-driven consumer behavior, and the continuous evolution of online shopping platforms and technologies. Freight transport management is required for the e-commerce industry to ensure efficient and timely delivery of goods to customers, optimize logistics operations, minimize shipping costs, and maintain customer satisfaction. For instance, in October 2021, according to a report published by the International Trade Administration, a US-based agency, e-commerce for consumer goods is expected to constitute approximately 22% of total global retail sales by 2024, with a projected average growth rate exceeding 1% annually. Further, retail e-commerce sales are expected to demonstrate a steady, long-term expansion, with an estimated 8% increase in all global retail e-commerce sales anticipated through 2024. Therefore, the rise of the e-commerce industry is driving the growth of the freight transport management market.
Market Trends – Major companies operating in the freight transport management market are developing innovative software solutions, such as transport management software, to serve customers with advanced features better. Transportation management software (TMS) is a specialized software system used by logistics and supply chain professionals to plan, execute, and optimize the transportation of goods. For instance, in December 2022, WrxFlo, an Ireland-based supply chain software provider, launched the WrxFlo Transport Management System. WrxFlo Transport Management System (TMS) is a software solution designed to assist businesses in efficiently managing the logistics of transporting physical goods, whether by land, air, or sea. This comprehensive platform enables companies to streamline operations by overseeing all transportation activities across their global supply chain. With WrxFlo TMS, haulage operators can efficiently plan, execute, and visualize logistics strategies in real-time, resulting in time savings and cost reductions.
The freight transport management market covered in this report is segmented –
1) By Offering: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Application: Road Freight, Rail Freight, Air Freight, Ocean Freight
4) By End-User: Manufacturing, Retail, Healthcare, Oil And Gas, Food And Beverage, Other End Users
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Regional Insights – North America was the largest region in the freight transport management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the freight transport management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the freight transport management market are DHL International GmbH, Amazon Web Services Inc., CEVA Logistics, Accenture Plc, IBM Corporation, Oracle Corporation, DSV A/S, SAP SE, Union Pacific Corp., Cleveland-Cliffs Inc., Geodis SA, DB Schenker, Landstar System Inc., Korber AG, Fusion Transport, Universal Logistics Holdings Inc., Transportation Insight LLC, SEKO Logistics Ltd., Covenant, Manhattan Associates inc., Descartes Systems Group Inc., IBS Software, JDA Software Group Inc., CTSI-Global, HighJump Software LLC
Table of Contents
- Executive Summary
- Freight Transport Management Market Characteristics
- Freight Transport Management Market Trends And Strategies
- Freight Transport Management Market – Macro Economic Scenario
- Global Freight Transport Management Market Size and Growth
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- Key Mergers And Acquisitions In The Freight Transport Management Market
- Freight Transport Management Market Future Outlook and Potential Analysis
- Appendix
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