Global Freight Management System Market, By Component (Solution and Services), End-User (3Pls, Forwarders, Brokers, Shippers and Carriers), Mode (Rail Freight, Road Freight, Ocean Freight and Air Freight) – Industry Trends and Forecast to 2029.
Freight Management System Market Analysis and Size
The growing emphasis on meeting customer expectations through on-time delivery and the deployment of innovative technologies such as IoT for freight management Rising transportation challenges that are difficult to manage with manual systems will increase the demand for freight management system and other freight management systems in logistics.
Data Bridge Market Research analyses that the freight management system market was valued at USD 16.46 billion in 2021 and is expected to reach the value of USD 59.20 billion by 2029, at a CAGR of 17.35% during the forecast period. 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 includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Freight Management System Market Scope and 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 billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Solution and Services), End-User (3Pls, Forwarders, Brokers, Shippers and Carriers), Mode (Rail Freight, Road Freight, Ocean Freight and Air Freight)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Oracle (U.S.), Werner Enterprises (U.S.), MercuryGate (U.S.), SAP (Germany), Accenture (Ireland), JDA Software (U.S.), Ceva Logistics (Spain), UPS (U.S.), DB Schenker (Germany), C.H. Robinson TMC (U.S.), Riege Software (Germany), Retrans (U.S.), BluJay Solutions (U.K.), McLeod Software (U.S.), FreightView (U.S.), Freight Management (U.S.), Linbis (U.S.), Logisuite (U.S.), DreamOrbit (India), Manhattan Associates (U.S.), Descartes, Magaya Corporation (U.S.), Kuebix (U.S.), ImageSoft (Australia), and 3GTMS (U.S.)
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Market Opportunities
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Market Definition
Freight management is moving cargo across a network effectively and strategically, from its point of origin to its required destination, using various modes of transportation, intermediaries, and technologies. The process uses logistics and supply chain equipment, physical assets such as trucks, distribution centres and warehouses, and technology to efficiently transfer freight. Businesses have always valued the ability to deliver cargo on time, to the correct destination, in the correct quantity, damage-free, and at the lowest possible cost.
Global Freight Management System Market Dynamics
Drivers
- Expansion of import and export business due to implementation of open trade policies
The import and export business has grown significantly as a result of several countries implementing open trade policies; this is one of the primary factors contributing to the growth of the freight management systems market. The adoption of this system by numerous transportation companies has improved their delivery capabilities, fuelling market growth. The increase in the speed of global trade is also driving the freight management systems market.
- Rapid digitization and adoption of advanced technologies
Rapid digitization, the big data revolution, and changing customer expectations are among the key trends driving the freight management system market growth. The rapid adoption of big data, artificial intelligence, and cloud computing technologies has enabled shippers and logistics service providers to gain real-time visibility into supply chains for freight management. Furthermore, rising global trade is expected to create ideal growth conditions for the industry in the near future.
Opportunity
The rapid growth of big data applications has necessitated the development of newer technologies to maximise cost efficiency. As a result, these factors are expected to drive the development of new analytics platforms and data storage centres in the freight management system market.
Restraints
The lack of consumer awareness about advanced freight management solutions and the high cost will act as a restraint, further challenging the growth of the specialty chemicals market during the forecast period.
This freight management system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the freight management system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Freight Management System Market
The negative effects of COVID-19 affected every industry vertical. The pandemic situation has also disrupted the freight management market. The financial activity of freight management systems has significantly slowed as a result of lockdown restrictions imposed as a result of the pandemic. Businesses are planning to implement freight management systems to help them manage commercial freight transactions in the transportation industry. The system aids in data entry and reduces errors when entering freight data. Companies are implementing this system because it is simple to use and cost-effective, allowing businesses to spend less during the financial crisis caused by the pandemic.
Recent Development
- In February 2019, Descartes Systems Group completed its acquisition of Management Systems Resources. Descartes' offerings, which include freight and transportation management systems, will be enhanced due to the acquisition. Descartes acquired Aljex, a cloud-based logistics provider, in February 2018 in order to provide Aljex's back-office transportation management solutions to freight brokers and transportation providers.
Global Freight Management System Market Scope
The freight management system market is segmented on the basis of component, end-user and mode. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Solution
- Planning
- Executive
- Operations
- Control and monitoring
- Services
- Consulting
- System integration and development
- Support and maintenance
End user
- 3Pls
- Forwarders
- Brokers
- Shippers and Carriers
Mode
- Rail Freight
- Road Freight
- Ocean Freight
- Air Freight
Freight Management System Market Regional Analysis/Insights
The freight management system market is analysed and market size insights and trends are provided by country, component, end-user and mode as referenced above.
The countries covered in the freight management system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to have a larger market due to the increasing acceptance of technology in freight management solutions and the presence of major freight solution providers in the region.
Asia-Pacific is expected to grow at a faster rate during the forecast period due to increased rates of goods movement and population growth.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Freight Management System Market Share Analysis
The freight management system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to freight management system market.
Some of the major players operating in the freight management system market are:
- Oracle (U.S.)
- Werner Enterprises (U.S.)
- MercuryGate (U.S.)
- SAP (Germany)
- Accenture (Ireland)
- JDA Software (U.S.)
- Ceva Logistics (Spain)
- UPS (U.S.)
- DB Schenker (Germany)
- C.H. Robinson TMC (U.S.)
- Riege Software (Germany)
- Retrans (U.S.)
- BluJay Solutions (U.K.)
- McLeod Software (U.S.)
- FreightView (U.S.)
- Freight Management (U.S.)
- Linbis (U.S.)
- Logisuite (U.S.)
- DreamOrbit (India)
- Manhattan Associates (U.S.)
- Descartes, Magaya Corporation (U.S.)
- Kuebix (U.S.)
- ImageSoft (Australia)
- 3GTMS (U.S.)
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