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Digital Freight Forwarding market Growth
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 28, 2024 /EINPresswire / -- According to a recent report published by Allied Market Research, titled,“Digital freight forwarding Market by Mode of Transport, Function, Vertical, and Deployment Mode: global opportunity analysis and
industry forecast, 2021–2030,” the global digital freight forwarding market was valued at $2.92 billion in 2020, and is projected to reach $22.92 billion by 2030, registering a CAGR of 23.1%.
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Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. U.S. dominated the global digital freight forwarding market in North America in 2020, owing to increase in import–export activities, technological developments by key players, and rapid adoption of innovative technologies in making faster & cost-effective shipment deliveries. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in industrial production and trade across different nations in the region along with implementation of favorable trade-centric regulations across the prominent countries such as China, India, and Japan.
Growth of the e-commerce industry across the globe and increase in free trade agreements fuel the global digital freight forwarding market growth . On the other hand, inadequate infrastructure, higher logistics costs, and strict regulations imposed on air freight hamper the market growth. On the contrary, increase in acceptance of DTC e-commerce logistics and decline in cost-cutting and lead time due to the use of multimodal systems create several market opportunities.
The report segments the global digital freight forwarding market on the basis of function, transport, deployment mode, vertical, and region.
By mode of transport, the digital freight forwarding market is segregated into land, sea, and air. The sea segment accounted for the highest revenue in 2020, owing to the large volume of goods transported via sea, along with it being the most cost-effective mode in contrast with air and land.
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On the basis of function, the market is divided into warehouse management and transportation management. The transportation management segment garnered highest revenue in 2020, as transportation management helps users to receive real-time order and tracking information that increases the transparency related to the logistics processes.
Depending on vertical, the market is divided into retail & e-commerce, manufacturing, healthcare, automotive, and others. The others segment garnered highest revenue in 2020, as it includes the digital freight forwarding services pertaining to various prominent industries, for instance, chemical, oil & gas, beverages, construction & mining, and agriculture.
By deployment mode, the digital freight forwarding market is segregated into cloud and on-premises . The cloud segment accounted for the highest revenue in 2020, owing to surge in demand for cloud services, which can be accessed anytime and anywhere, along with the exponential rise in the adoption of cloud services across the world.
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Key Players:
Deutsche Post DHL Group,
Descartes Kontainers,
Flexport, Inc.,
iContainers,
Forto GmbH,
Kuehne+Nagel International AG,
Turvo Inc.,
Twill,
Transporteca,
Uber Freight LLC.
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David Correa
Allied Market Research
+1 800-792-5285
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