Newark, Jan. 03, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.8 billion digital freight forwarding market will reach USD 33.7 billion by 2032. One of the main forces behind the expansion of the modern economy is still digitisation. In the end, logistical gaps cause supply chain inefficiencies since they are extremely difficult to close. Prominent businesses like uShip and Uber Freight are launching new systems to meet the problem. Digital freight forwarding will minimise the laborious process. A single platform will have access to all freight forwarding estimates, eliminating the need for lengthy conversations and paper trails. Fast quotes, clear pricing, rate and carrier comparison, tracking, and minimal paperwork are benefits of digital freight forwarding. The logistics business is evolving into a digital, paperless enterprise to support market expansion.
Request to Download Sample Research Report – https://www.thebrainyinsights.com/enquiry/sample-request/13888
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 3.8 Billion |
| Market Size in 2032 | USD 33.7 Billion |
| CAGR | 24.4% |
| No. of Pages in Report | 238 |
| Segments Covered | Mode of Transport, Deployment Mode, Vertical |
| Drivers | Expansion of e-commerce |
| Opportunities | Rise in free trade agreements |
| Restraints | Poor infrastructure and higher logistics costs |
North America will account for the largest market size during the forecast period.
Because end-user industries throughout the region are experiencing an increase in demand, the North American region leads the global digital freight forwarding market. With its well-established corporations and industries, North America boasts a robust industrial backbone. On a massive scale, they import and export. There will likely be a continued high level of demand from end-user industries. Not to mention, the North American goods moving market is rapidly going digital.
The sea segment dominated the market with the most significant revenue of USD 1.52 billion.
The sea segment dominated the market with the most significant revenue of USD 1.52 billion. Since sea shipping is the least expensive method of moving goods, it is used for most goods freight forwarding.
The cloud segment dominated the market with the most significant revenue of USD 2.12 billion.
The cloud segment dominated the market with the most significant revenue of USD 2.12 billion. Cloud services have many advantages, including ease of management for large volumes of goods and flexibility. Businesses may easily track their goods with the help of cloud services, which also provide tracking services.
The retail and e-commerce segment dominated the market with the most significant revenue of USD 1.29 billion.
The retail and e-commerce segment dominated the market with the most significant revenue of USD 1.29 billion. An increase in the adoption of retail stores in both established and new regions is responsible for the growth of the retail segment in the digital freight forwarding market.
Procure Complete Research Report - https://www.thebrainyinsights.com/report/digital-freight-forwarding-market-13888
Market Dynamics:
Drivers: Growth in e-commerce
One of the most common online activities in the world is shopping. As a result, domestic and international e-commerce is flourishing in developing nations like China, India, and Indonesia. This includes shipments of electronics, prescription drugs, consumer packaged products, and direct-to-consumer retail sales. Even product producers are gradually switching from traditional freight forwarding to digital freight forwarding as internet availability grows. Digital freight forwarding offers several advantages: quick quotes, clear pricing, comparing rates and carriers, tracking, simple documentation, and more.
Restraint: Poor infrastructure
An effective logistics environment requires advanced infrastructure, a well-managed supply chain, and trade facilitation laws. Due to high financial costs, logistics companies without these are forced to invest in increasing working capital and stock reserves, which can negatively impact national and regional competitiveness. Logistics are also hampered by the underdevelopment of infrastructure in many countries, which raises costs and lowers supply chain dependability.
Opportunity: Rise in adoption of DTC e-commerce logistics
There are several ways that DTC e-commerce simplifies shipping and other services. Using domestic freight forwarders facilitates communication in general. Shippers can more easily follow the process when freight forwarders can monitor shipments in real-time owing to on-demand tracking. Data access at every stage of the transportation process is made possible by real-time data monitoring, which has the potential to prevent thousands of errors from occurring. Throughout the projected period, the growth of the worldwide digital freight forwarding market is anticipated to be supported by these advantages connected to DTC e-commerce.
Challenge: Stringent regulations
The market is being negatively impacted by the government's strict laws and restrictions around freight forwarding.
Interested to Procure the Research Report? Inquire Before Buying - https://www.thebrainyinsights.com/enquiry/buying-inquiry/13888
Some of the major players operating in the digital freight forwarding market are:
● Turvo Inc.
● Kuehne+Nagel International AG
● Uber Freight LLC
● Deutsche Post DHL Group
● Descartes Kontainers
● Flexport, Inc.
● Transporteca
● Icontainers
● Forto GmbH
● Twill
Key Segments cover in the market:
By Mode of Transport:
● Sea
● Air
● Land
By Deployment Mode:
● On-Premises
● Cloud
By Vertical:
● Manufacturing
● Automotive
● Retail and E-Commerce
● Healthcare
● Others
Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13888
About the report:
The global digital freight forwarding market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com
