Global Freight Management Systems Market Soars on Supply Chain Efficiency, Forecasted to Reach $19 Billion by 2030
DUBLIN , Oct. 31, 2023 /PRNewswire/ -- The "Freight Management Systems - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global Freight Management Systems market, valued at USD 10.8 billion in 2022, is projected to reach USD 19 billion by 2030, with a compound annual growth rate (CAGR) of 7.4% during the forecast period from 2022 to 2030. The Solutions segment is expected to record a CAGR of 6.9%, reaching USD 10.5 billion by 2030, while the Services segment is estimated to grow at a CAGR of 7.9% over the next eight years.
Key Market Insights:
Solutions Segment: This segment is projected to experience significant growth, with a CAGR of 6.9%, reaching USD 10.5 billion by 2030.
Services Segment: Growth in this segment is estimated at a CAGR of 7.9% during the forecast period.
Geographic Trends: The U.S. market is estimated at USD 3.8 billion in 2022, while China is forecasted to reach a market size of USD 2.2 billion by 2030, with a CAGR of 9.9%. Japan and Canada are also noteworthy markets, each expected to grow at 4.5% and 7.5%, respectively. Germany, within Europe, is forecasted to grow at approximately 6.6% CAGR.
Key Competitors:
The Freight Management Systems market features a total of 120 key competitors, including:
Accenture PLC
Fly LEVEL SL
Avante International Technology, Inc.
BluJay Solutions
C.H. Robinson Worldwide, Inc.
CEVA Logistics
CTSI-Global
DB SCHENKER
Descartes Systems Group
DSV Panalpina A/S
Dreamorbit
Freightgate Inc.
GE Transportation
Convoy
Cory Brothers
Economic Outlook:
The global economic outlook is showing signs of improvement, with growth recovery expected in the coming years. The United States, although experiencing slowing GDP growth due to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in the Euro area is helping boost real incomes and is contributing to a pick-up in economic activity. China is expected to witness strong GDP growth as the pandemic threat recedes, and India is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.
Challenges remain, including slower-than-expected decline in global headline inflation, food and fuel inflation in many developing countries, high retail inflation, and continued impact on consumer confidence and spending. Governments are addressing these challenges, and there is a push to mainstream climate change into economic decisions.
New technologies, including AI, machine learning, quantum technologies, and renewables, are expected to drive growth and value to global GDP in the coming years.
What`s New?
Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
Impact of Covid-19 and a Looming Global Recession
COVID-19 Pandemic Severely Disrupts Global Freight Transportation Industry
Month-on-Month Growth in Global Trade: Jan 2019-April2020
Percentage Change (%) in Load Factor by Region of Origin and Aircraft Type: March-April 2020
Global Logistics Industry 2019 Vs 2020 Growth (In %)
Regional Market Review
Key Takeaways
Freight Management Solutions to Drive Capabilities
Freight Management Systems - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Increasing Need to Improve Freight Movement Catalyzes Freight Management System Market
Road Freight Dominates Demand
US Leads the Market
3PLs Segment : An Important End-Use Market
Prominent Drivers of Global Freight Management System Market
Market Restraints
Intense Competition Drives Players to Consolidate
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
COVID-19 Leads to New Integration Trends Related to Freight Technology
Inventory Management Integration for Procurement
Big Data Players Eye on Integration
Adoption of New Technologies Presents Opportunities in Freight Management System Market
Big Data Analytics Gains Importance in Freight Management Systems
Global Adoption Rates (in %) of Big Data Technologies by Industry (2019)
Rising Implementation of Cloud-Based System
Internet of Things (IoT) Holds Numerous Advantages
High Accuracy with GPS Technology
Freight Management Systems Leverage on Advanced Machine Learning
Emerging Trends in Freight Transport Industry Drive Investment in Freight Management Solutions
Consumer Demand for Fast, Free Shipping
Automation Creates Need for New Systems
Shipment Tracking Platforms
More SKUs Require New Strategies
Blockchain Technology Gains Importance in Freight Management
Blockchain Technology by End-Use Vertical: 2019
Growth in E-Commerce Drives Increased Visibility into Supply Chain
Global Retail e-commerce Sales in US$ Trillion: 2014-2022
Globalization of Businesses Drives the Need for Efficient Supply Chain Designs
Effective Tracking of Ocean Freight with New Visibility Technologies
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/5s33ve
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-freight-management-systems-market-soars-on-supply-chain-efficiency-forecasted-to-reach-19-billion-by-2030-301972749.html
SOURCE Research and Markets