Dublin, Oct. 25, 2023 (GLOBE NEWSWIRE) -- 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/oc1bb9
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