Over the years, it has become extremely necessary to have a highly efficient supply chain. This requirement is fulfilled by freight transportation management. According to the survey of GEODIS, 623 industry experts in 17 nations stated that supply chain visibility is now the third chief strategic priority. It has become vital to track the product at each shipment process, manage any form of risk associated, and avoid delay. The logistics industry is continuously growing and has created a huge demand for more efficient logistics solutions, thus is expected to increase the growth of the global freight transportation management market.
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Data Bridge Market Research analyses that the freight transportation management market is expected to grow at a CAGR of 8.1% in the forecast period of 2022 to 2029 and is expected to reach USD 41,547.44 million by 2029. Rail freight can be a highly efficient means of transportation if energy consumption is considered as well, which turns out to be six times lower than the road. Moreover, there are fewer accidents on the railroads than on the road. This increasing freight transportation through railroads needs to be managed, thus increasing the growth of the global freight transportation management market.
The Market has witnessed High Use of Freight Transportation Management across the Roadways
The increasing digitalization has seen the transformation in various industries and has given birth to e-commerce. The growth in e-commerce has made it necessary for the companies to make their supply chain highly efficient, reduce the transit time and provide the products to the customers without any delay. This has increased the flow of domestic transportation through roadways, and a large number of trucks are being used for the same. The increasing growth in roadways technology is augmenting the growth of the global freight transportation management market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Transportation Mode (Roadways, Railways, Marine and Airways), By Offering (Solutions and Services), By Deployment Mode (Cloud or Hosted and On Premise), By Organization Size (Large Enterprises and SME'S), By Industry (Manufacturing, Retail and E-Commerce, Transportation, Fast Moving Consumer Goods (FMCG), Healthcare, Food and Beverages, Oil and Gas, Energy and Utility, Electronics, Automotive, IT and Telecom, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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CTSI-GLOBAL (U.S.), GEODIS (France), THE DESCARTES SYSTEMS GROUP INC. (Canada), Manhattan Associates (U.S.), Transplace (U.S.), Softeon (U.S.), GlobalTranz (U.S.), Oracle (U.S.), SAP SE (Germany), Accenture (Ireland), Blue Yonder Group, Inc. (U.S.), E2open, LLC. (U.S.), Trimble Inc. (U.S.), DSV (Denmark), Werner Enterprises (U.S.), Supply Chain Solutions (U.S.), C.H. Robinson Worldwide, Inc. (U.S.), TRANSPOREON GmbH (Germany), MercuryGate (U.S.) among others
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Data Points Covered in Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The global freight transportation management market is segmented into five notable segments which are based on transportation mode, offering, deployment mode, organization size, and industry.
- On the basis of transportation, the global freight transportation management market is segmented into roadways, railways, marine, and airways. In 2022, the roadways segment is expected to dominate the global freight transportation management market with the highest CAGR of 8.6% in the forecast period of 2022 to 2029. The roadways segment is expected to dominate global freight transportation management market as it require less capital investment than railways and also has a door to door service provider which isn't always provided by means of other transportation mode.
- On the basis of offering, the freight transportation management market has been segmented into solutions and services. In 2022, the solutions segment is expected to dominate the global freight transportation management market with the highest CAGR of 8.2%
The solutions segment is expected to dominate the global freight transportation management market
In 2022, the solutions segment is expected to dominate the global freight transportation management market with the highest CAGR of 8.2% in the forecast period of 2022 to 2029. The solution segment is expected to dominate global freight transportation management market as the solution offered by the companies to 3PL companies are for their smooth operation and to carry business activities.
- On the basis of deployment mode, the freight transportation management market is segmented into cloud or hosted and on premise. In 2022, cloud or hosted is expected to dominate the global freight transportation management market with the highest CAGR of 8.2% in the forecast period of 2022 to 2029. The cloud or hosted segment is expected to dominate in the deployment mode segment as it is scalable as per user needs, efficient, and less costly than on premise.
- On the basis of organization size, the freight transportation management market has been segmented into large enterprises and SMEs. In 2022, the large enterprises segment is expected to dominate the global freight transportation management market with the highest CAGR of 8.3%
The large enterprises segment is expected to dominate the global freight transportation management market
In 2022, the large enterprises segment is expected to dominate the global freight transportation management market with the highest CAGR of 8.3% in the forecast period of 2022 to 2029. The large organization segment is expected to dominate in the organization size segment as the transportation management system is mostly offered by large organizations as a result of excessive capital and investments for easy operation and to carry out business activities.
- On the basis of industry, the freight transportation management market is segmented into manufacturing, retail and e-commerce, transportation, fast moving consumer goods (FMCG), healthcare, food and beverages, oil and gas, energy and utility, electronics, automotive, IT and telecom and others. In 2022, the manufacturing segment is expected to dominate the global freight transportation management market with the CAGR of 8.8% in the forecast period of 2022 to 2029. The manufacturing enterprise segment is expected to dominate the Market as the transportation management systems is most commonly used for freight management which is excessive in production to move goods among international location or states.
Major Players
Data Bridge Market Research recognizes the following companies as the major freight transportation management market players in freight transportation management market are CTSI-GLOBAL (U.S.), GEODIS (France), THE DESCARTES SYSTEMS GROUP INC. (Canada), Manhattan Associates (U.S.), Transplace (U.S.), Softeon (U.S.), GlobalTranz (U.S.), Oracle (U.S.), SAP SE (Germany), Accenture (Ireland), Blue Yonder Group, Inc. (U.S.), E2open, LLC. (U.S.), Trimble Inc. (U.S.), DSV (Denmark), Werner Enterprises (U.S.), Supply Chain Solutions (U.S.), C.H. Robinson Worldwide, Inc. (U.S.), TRANSPOREON GmbH (Germany), MercuryGate (U.S.) among others.
Market Development
- In March 2021, SAP SE announced its partnership with Sedna Systems. Under this partnership, the companies will be integrating SAP TMS with Sedna Systems' team collaboration and e-mail management solution, which can help the customers to gain a whole control over transportation management-related data. Thus with this, the company will be able to solidify its position in the Market.
- In February 2022, Oracle announced the introduction of new logistics management capabilities within Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The company has updated its Oracle Fusion Cloud Transportation Management which can help organizations to reduce costs and risk, improve the customer experience, and become more adaptable to business disruptions. Thus with this, the company will be able to attract more customers in the Market.
- On February 4, 2020, the SmartCargo project was officially launched at the BB headquarters. The technology was presented by the Rail Cargo Group (RCG) board of directors. Each of the 13,700 RCG waggons is equipped with a SmartCargo device, which provides detailed information throughout the freight transport process. Around 300 cars are currently being fitted with SmartCargo as part of preliminary testing.
- In February 2019, Management Systems Resources was acquired by Descartes Systems Group. Descartes' offerings, which include freight management systems and transportation management systems, will be enhanced as a result of the acquisition.
Regional Analysis
Geographically, the countries covered in the freight transportation management market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
As per Data Bridge Market Research analysis:
North America is the dominant region in freight transportation management market during the forecast period
North America dominated the freight transportation management market due to the increased technology advancement in IT and cloud computing sector. North America will continue to dominate the freight transportation management market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the surge in the retail sector due to many firms moving toward the online channel within this region.
Europe is estimated to be the fastest growing region in freight transportation management market
Europe is expected to grow during the forecast period as it is a hub for major players and manufacturing companies, require major transportation management in the region. Europe has the global transport lines passing through the region, with Germany dominating the region with a share of 22.74%.
COVID-19 Impact Analysis
The outbreak of COVID-19 largely impacted the freight transportation management market as almost every country chose to shut down all production facilities except those involved in the production of essential goods. To prevent the spread of COVID-19, the government has taken stringent measures such as shutting down production and sales of non-essential goods, blocking international trade, and many others. The only businesses dealing with this pandemic situation are those that are permitted to open and run processes.
The freight transportation management market is expanding as a result of government policies aimed at increasing international trade post-COVID. The benefits of freight transportation management for optimizing costs and routes are also increasing market demand for freight transportation management. However, factors such as trade route congestion and trade restrictions between some countries are limiting market growth. The closure of manufacturing facilities during the pandemic has significantly impacted the Market. Additionally, the manufacturers are making a variety of strategic decisions in order to recover from COVID-19. The players are carrying out multiple research and development activities in order to improve the technology involved in freight transportation management. As a result, the companies will be able to bring advanced and precise solutions to the Market. Furthermore, government initiatives to boost international trade have resulted in market growth.
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