With CAGR 12.43%, Freight Management System Market Size, Share, Growth And Trends 2023 To 2029 X Herald

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freight management system

Big data analytics is arguably the biggest opportunity in the generation of Freight Management transportation. Speed, efficiency, and reliability are the factors that determine the success of freight business.

The research seeks to freight management system market size and future growth potential across various segments, including deployment modes, end users, and geographic locations. The base year used to Freight Management System Market size ranges from 2023 to 2029.

The secondary research component of the study technique utilized to assess and forecast the Freight Management System Market involved gathering information on important vendor revenues. As part of the market segmentation process, vendor offerings were also taken into account. By using the revenue of the major market participants as a starting point, the bottom-up methodology was used to determine the overall market size of the global market. After determining the overall market size, the market was divided into a number of segments and sub-segments. These segments and sub-segments were then validated through primary research by conducting comprehensive interviews with key individuals, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown techniques were used to finish the entire market engineering process and to determine the precise statistics for all segments and sub-segments.

The main competitors in the Market are:

The Freight Management System Market ecosystem consists of service providers. such as High Jump Software, Manhattan Associates, DSV, Accenture, JDA Software, Northline, Retalix, Oracle, SAP, UPS, Retrans, Magaya Corporation, Kuebix are some of the key players in the global market.

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Freight Management System Market Recent Developments: Increasing adoption of cloud-based solutions: The freight management system market has witnessed a shift towards cloud-based solutions, offering benefits such as scalability, flexibility, and cost-effectiveness. Cloud-based systems enable real-time visibility, collaboration, and data management across the supply chain.

Integration of Internet of Things (IoT): IoT technologies have been increasingly integrated into freight management systems. This allows for the tracking and monitoring of shipments, assets, and vehicles in real-time, providing improved visibility, efficiency, and security in the supply chain.

Automation and digitization: The industry has seen a rise in automation and digitization in various aspects of freight management. This includes automated order processing, electronic documentation, digital freight matching platforms, and predictive analytics, among others. These advancements aim to streamline operations, reduce manual errors, and optimize the overall supply chain performance.

What Information does this report contain?

Historical data coverage: 2017 to 2022;

Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.

6-7year performance forecasts: major segments covering applications, top products and geographies.

Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Key Segments:

Freight Management System Market by Solution 2023-2029, (USD Billion)

      • Cargo-Routing and Scheduling
      • Freight Tracking and Monitoring
      • Order Management
      • Security

Freight Management System Market By Transportation Mode, 2023-2029, (USD Billion)

      • Rail Freight
      • Road Freight
      • Ocean Freight
      • Air Freight

Freight Management System Market By End User, 2023-2029, (USD Billion)

      • Third-Party Logistics
      • Forwarders
      • Brokers
      • Shippers
      • Carriers

The research highlights important participants and manufacturers as well as the most recent tactics, including new product releases, collaborations, joint ventures, technology, segmentation of regional and industrial competitiveness, profit and loss ratios, and investment suggestions. a precise evaluation of efficient production and advertising methods, as well as market share, growth rate, size, revenue, and value chain analysis.

The“World Freight Management System Market Research Report” is an in-depth analysis of the global industry with a focus on the current situation of the global Freight Management System Market. The research provides important data on the worldwide Freight Management System Market's manufacturers market state and is a great resource for businesses and people interested in the sector.

The Freight Management System Market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

North America: The U.S., Canada, Mexico

South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

Middle East and Africa: Israel, South Africa, Saudi Arabia

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Market Dynamics

Driver: Increased supply chain visibility

Companies are increasingly leaning toward technologies that help track, trace, secure, and control their in-transit cargo. Be it inbound logistics or outbound logistics, visibility is increasingly playing a vital role in supply chain and logistics strategies. This has been achieved by using specific identification numbers that describe the nature of the products. Visibility helps improve inventory management, reduce CAPEX, and minimize supply chain errors by making data available at a click to any stakeholder. It overcomes the limitation of most enterprise resource planners, who struggle to ingest external organizational information, providing only an inside view of the organization. Visibility gives the ability to unify the organizational supply chain information to support concurrent planning.

Restraint: Congested trade routes

The world is entering the early stage of freight transportation capacity crisis. The last decades have witnessed steady growth in the demand for freight transportation in North America and Europe, driven by economic expansions and global trade. This has caused freight congestion in specific areas on highways, which are not designed to handle large volumes of freight traffic. According to Government Accountability Office (GAO), truck, rail, water, and intermodal volumes of freight are projected to grow by 98%, 88%, 49%, and 101%, respectively, by 2035. This can have detrimental effects on the cargo being transported and can add to the costs; for instance, as the number of trains per mile on the track increases, the average speed declines, and the amount of goods in freight yards increases, leading to further reduction in travel time along with increased potential of routing errors and damage to shipments.

Opportunity: Cloud and big data analytics

Big data analytics is arguably the biggest opportunity in the generation of freight management transportation. Speed, efficiency, and reliability are the factors that determine the success of freight business. With technology advances and increasing digitization, organizations today generate huge amounts of data, but struggle to gain maximum benefits from it. Big data analytics can bring the real value of data to improve freight operational efficiencies and customer satisfaction at reduced costs.
The rapid increase in big data applications has led to the need for developing newer technologies to optimize cost efficiency. Thus, these factors are expected to be the cause of increasing the growth of new analytics platforms and new data storage centers in the freight management system market.

Challenge: Cost sensitivity

The huge cost of technological setups and sophisticated equipment is not affordable for many SMEs. The small and medium freight companies tend to avoid investments related to the installation of such technologies, software, and services because of their cost-sensitive attitude and lack of awareness regarding the benefits of the freight management system. Hence, cost sensitivity is acting as a negative force to the freight management system market.

Key Benefits for Stakeholders

    • This study comprises analytical depiction of the global Freight Management System Market along with the current trends and future estimations to depict the imminent investment pockets.
    • The overall Freight Management System Market analysis is determined to understand the profitable trends to gain a stronger foothold.
    • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
    • The current Freight Management System Market forecast is quantitatively analyzed from 2023 to 2029 to benchmark the financial competency.
    • Porter's five forces analysis illustrates the potency of the buyers and suppliers of the Freight Management System Market.
    • The report includes the Freight Management System Market trends and the revenue share of key vendors.

Reasons to Purchase the Freight Management System Market Report:

    • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
    • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
    • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
    • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
    • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.

Furthermore, the market Research affirms the major global players in the Global Freight Management System Market. Their key marketing strategies and advertising techniques have been highlighted to offer a clear understanding of the Global Market.

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