Global Freight Matching Market, By Mode (Rail Freight, Road Freight, Ocean Freight, Air Freight), End User (3PLs, Brokers, Shippers, Carriers) - Industry Trends and Forecast to 2031.
Freight Matching Market Analysis and Size
Freight matching is used to connect the consigner with third-party shippers. The growing volume of international trade has increased the demand for freight services. With greater volume to be transported through freights, companies are turning to innovative digital solutions to improve their efficiency. Delays in shipping and supply chain can result in sales losses as it cascades with delays in other services to create massive losses for the company. Various freight management solutions such as freight matching platforms are being increasingly adopted to improve efficiency and prevent delays.
Global freight matching market was valued at USD 22.67 billion in 2023 and is expected to reach USD 98.78 billion by 2031, registering a CAGR of 20.2% during the forecast period of 2024-2031. 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.
Report Scope and Market Segmentation
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Report Metric |
Details |
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Forecast Period |
2024-2031 |
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Base Year |
2022 |
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Historic Years |
2021 (Customized 2016-2021) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Mode (Rail Freight, Road Freight, Ocean Freight, Air Freight), End User (3PLs, Brokers, Shippers, Carriers) |
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Countries Covered |
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa |
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Market Players Covered |
Waymo (U.S.), Kodiak Robotics Inc. (U.S.), Manbang Group (China) Convoy (U.S.), Flock Freight (U.S.) |
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Market Opportunities |
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Market Definition
Freight matching analyzes data across multiple third-party service providers to find the best possible service provider for the user. The growing amount of data being generated by companies regarding their supply chain and shipping activities owing to the growing adoption of GPS-enables tracking systems are also responsible for the growing market. This software allows companies to scale up production without increasing their overhead expenses, improve workflow, improve operational efficiency, and increased resilience to volatility in the marketplace, among other advantages.
Global Freight Matching Market Dynamics
Drivers
- 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.
- Increasing Demand for Rail Freight Transports
Rail freight transport utilizes railways for the transportation of cargo on land. It is used for transporting various cargo such as chemicals, raw construction material, agriculture, automotive, energy (coal, oil, and wind turbines), and forest productions. The railways can transport heavy cargo quickly through the railroads. Railways are one of the most highly used forms of transportation and have a huge built-up infrastructure around the world. The increasing use of railways for transportation increases the growth of freight transportation management for managing rail freight transportation
Opporrtunities
- Growing Demand for Freight Shipments
Industrial and manufacturing companies frequently operate globally, necessitating efficient freight forwarding solutions to oversee the procurement of raw materials, navigate the intricacies of production processes, and distribute finished products to diverse markets. In addition, the adoption of Just-in-Time (JIT) manufacturing practices has significantly contributed to the growth of this segment. Manufacturers increasingly embrace JIT principles to minimize the costs associated with holding inventory. This approach hinges on the punctual and precise delivery of raw materials and components, which, in turn, places substantial demands on freight forwarding services to guarantee a smooth and timely transportation process.
- 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 matching market.
Restraints/Challenges
- Lack of Consumer Awareness about Advanced Freight Management Solutions
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.
- Government Restrictions and Regulations On Trade
International trade has seen several restrictions and changing regulations due to the U.S. and China trade war and COVID-19 pandemic. Cross-border transportation gets limited, and the cost increases, which are not able to foresee by the transportation management system and leads to inefficiency in supply chain and inventory thus acting as a major restraint for the global freight matching market.
The global freight matching 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 global freight matching market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Global Freight Matching Market Scope
The global freight matching market, is segmented on the basis of mode and end user. The growth amongst these segments will help you analyze 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.
Mode
- Rail Freight
- Road Freight
- Ocean Freight
- Air Freight
End User
- 3PLs
- Brokers
- Shippers
- Carriers
Global Freight Matching Market Region Analysis/Insights
The global freight matching market is segmented on the basis of mode and end user.
The countries covered in the global freight matching 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, Israel, Egypt, South Africa, 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 regulation in the market domestically that impacts the current and future trends of the market. Data points such as 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 Global Freight Matching Market Share Analysis
The global freight matching market is analyzed, and market size information is provided by country, design and channel. 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, and application dominance. The above data points provided are only related to the companies' focus related to the global freight matching market
some of the major players operating in the global freight matching market are
- Waymo (U.S.)
- Kodiak Robotics, Inc (U.S.)
- Manbang Group (China)
- Convoy (U.S.)
- Flock Freight (U.S.).
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