Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the digital freight forwarding market provides in-depth analysis of segments and sub-segments in the global as well as regional digital freight forwarding market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional digital freight forwarding market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global digital freight forwarding market. According to the report, the global digital freight forwarding market is projected to reach USD 11.21 Billion by 2027 from USD 3.09 Billion in 2021, growing at a CAGR of 23.92% over the forecast period of 2021-2027.
Freight Forwarding has been of
paramount importance for international shipping that includes the international
movement of goods. The freight forwarding industry is changing rapidly, freight
forwarders are adopting the newest technologies to remain competitive in the
market. In today’s digital age modern freight forwarding industry is also
turning digital. Modern supply chains are dependent upon connected systems and
digital capabilities. Though every system is created differently. A suitable system can streamline bookings and
enhance operations. In the meantime, an unsuitable system will only add to problems
while using a digital freight forwarders solution that only increases clicks and
wastes time. Thus, the selection of an appropriate digital freight forwarding
solution becomes crucial.
The global freight forwarding
industry has been growing at a tremendous pace for the past few years. The
trade between countries has seen healthy growth over recent years. Thus, the
volume of freight forwarding is also growing at a rapid pace. This increased
volume has created an urgency to ramp up the freight forwarding processes such
as billing, invoice, storage, import-export clearance, and others. Equally,
government around the world are adopting stringent shipping regulations which
have added to the complexities of freight forwarders. Thus, this has increased
the demand for digital freight forwarding solutions. Additionally, the
conventional freight forwarding processes are experiencing tremendous pressure and
are unable to cope with the growing freight forwarding volume. The lack of
visibility in conventional freight forwarding systems sometimes leads to chaos
among the freight forwarders and creates operational and logistical problems.
Adoption of digital freight forwarding solutions ensures less cost, faster
billing and invoice processing, effective warehousing and transportation
management, and clear visibility. Many end-user industries are focusing on the
digitalization of their businesses; thus, they are rapidly adopting digital
technologies to accomplish the digital transformation of their businesses.
These two factors are majorly driving the market However, data security threats
are affecting the growth of the market. Nevertheless, the advent of new
technologies such as AI and ML will create numerous growth opportunities for
the growth of the market.
Among the geographies, the digital
freight forwarding market is segmented into North America, Europe, Asia
Pacific, and RoW. The global digital freight forwarding market in the North
American region dominates the global digital freight forwarding market owing to
the increasing demand from end-user industries across the region. North America
has a strong industrial base and is home to many established conglomerates and
industries. They import and export at a large scale. Therefore, the demand from
end-user industries is expected to remain high. Additionally, the
digitalization of the freight forwarding industry in North America is going on
in full swing. The Asia Pacific region is expected to witness the fastest
growth in the global digital freight forwarding market owing to the growing
efforts of the governments of developing countries such as China and India.
The report on global digital
freight forwarding market covers segments such as deployment mode,
transportation mode, function, and end users. On the basis of deployment mode,
the sub-markets include cloud and on-premises. On the basis of transportation
mode, the sub-markets include air, land, and sea. On the basis of function, the
sub-markets include regulatory and compliance management, shipping management, and
warehouse management. On the basis of end users, the sub-markets include
transportation and logistics, automotive, healthcare, manufacturing, retail,
government, E-commerce, and others.
The report provides profiles of
the companies in the market such as IBM Corporation, Samsung SDS, Oracle
Corporation, Descartes Systems Group, SAP SE, Kuehne+Nagel International AG,
Digital Logistics Group Ltd, Flexport, Inc., DiLX, and Boxnbiz Technologies
Pvt. Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the digital freight forwarding market. Moreover, the study highlights
current market trends and provides forecasts from 2021-2027. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.