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Freight Management System Market by Solution, End-user, Transportation Mode And Region - Global Forecast to 2023

Freight Management System Market: Global Forecast until 2023

  • May 2018
  • 183 pages
  • ID: 2677222
In this report:
As the market is highly fragmented and has organizations of different size, the overall demand for rail freight is expected to grow at approximately ##% in 2016.
This segment is estimated to contribute to a market share of ##.##% in 2018, and the share is expected to grow to ##.##% by 2023.
Among solutions, the execution and operations stage is expected to hold the largest share of ##.##% of the global freight management system market in 2018.

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The freight management system market is anticipated to increase at a Compound Annual Increase rate of 10.10 percent during the forecast period

The freight management system market size is forecasted to grow from ~$10.8B in 2018 to ~$17.5B by 2023, at a compound annual growth rate (CAGR) of 10.1% during the forecast horizon. This increase is anticipated to be fuelled by the business values, including the need to minimize the transit time, desire for supply chain visibility, higher customer satisfaction, and the low cost of logistics, along the advancements in freight security, safety, and transportation solutions; and fast growth in communication technologies and IoT. Nevertheless, congested trade routes, and cross-border trade risks and environment concerns associated to transportation and logistics may restrain the market increase.

Among consumers, the shippers segment is anticipated to witness the quickest rise rate during the outlook period

The shippers segment is anticipated to rise at the highest compound annual growth rate (CAGR) during the estimate period.Shippers have realized that immediate responses, fast business decisions, and customer satisfaction are the most important features to extend their businesses, growth revenues, and ensure desired outcomes.

The advancements in freight management solutions and technologies, together with the growing cost of logistics and unpredictable demand and supply cycles have increased the priorities for logistics in the business strategies of shippers.Many shippers have responded by acquiring or investing in logistics businesses and taking control of their supply chains.

These practices would also help them grow their businesses efficiently and rapidly.

The air freight transportation mode is forecasted to have the quickest increase rate during the outlook period

The air freight transportation mode is anticipated to witness the quickest rise rate during the estimate period.Air transportation is the most cost-intensive transportation mode, with low adoption among logistics providers.

The industry demand for freight management system solutions are higher among air freight enterprises, as these solutions offer security and enable the tracking of precious goods. Furthermore, many freight management system solution providers offer tailor-made air freight solutions to these enterprises.

Asia Pacific (APAC) is anticipated to grow at the quickest rate during the outlook period

As per the geographic study, the APAC area is forecast to witness the quickest increase rate in the freight management system market, due to the region's nature of quickly adopting new technologies, making higher investments in digital transformation, and its increasing share of freight volumes transported globally.Institutions in the Asia-Pacific regions are adopting the freight management system, due to the high share of overall trade volumes that it possesses, with the freight management system solutions enabling businesses to minimize costs, save time, rise control, and incorporate flexibility in supply chains.

The international competition among companies to minimize prices has driven new industry entrants into the Asia-Pac market and disrupted business models of organizations. The big shippers and logistics service providers in Asia-Pacific are acknowledging the importance of freight management solutions and technologies, as they focus on the deployment of tools to facilitate the faster delivery of freight and efficiently cater to their customers' frequent requirements.

The break-up of the profiles of the primary participants has been provided below:

• By Company category: Tier 1: (30.0 percent), Tier 2: (40.0 percent), and Tier 3: (30.0 percent)

• By Description: C-suite: (40.0 percent), D-level: (25.0 percent), and Grade of manager: (35.0 percent)

• By Area: North America continent: (35.0 percent), Asia-Pac: (30.0 percent), Europe (EU): (25.0 percent), and RoW: (10.0 percent)

Segment Research

The overall freight management system market has been broken down by component (solutions and services), transportation mode, end-user, and area.The in-depth review of the regions has been done to furnish business insights into the potential business opportunities across several regions.

Additionally to this, product portfolio, recent evolutions, and the strategic study of vendors are some of the other MarketsandMarkets' review included in the industry report.

Reasons to Buy the Report

The study would benefit the market top players/new sector entrants in the freight management system market in these ways:

1. The document breaks down the freight management system market comprehensively to provide the best approximations of the revenue data for the global market and its sub-segments across different areas.

2. The analysis benefits partners distinguish the pulse of the sector and offers them with info on the main market drivers, market restraints, opportunities, and alternatives.

3. The market research benefits partners comprehend their players and obtain additional insights to improve their positions in the sector.

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