Report Ocean recently released a research report on the Digital Freight Forwarding Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global digital freight forwarding market revenue was US$ 2.90 billion in 2020. The global digital freight forwarding market revenue is forecast to reach US$ 22.90 billion in 2030, growing at a compound annual growth rate (CAGR) of 23% during the forecast period from 2021-2030.
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A digital freight forwarder uses digital tools to facilitate smooth communication flow and get shipment status updates as soon as possible. A digital freight forwarder provides a completely transparent system that allows customers to compare multiple shippers in order to get the best deal. The web platform enables easy access to stakeholders, enabling them to generate, upload, and share all documents, thus reducing the amount of paperwork.
Factors Influencing Market Growth
- Factors such as the expansion of the e-commerce industry and the rise of free trade agreements are major contributors to the growth of the global digital freight forwarding market.
- Lack of infrastructure & high logistics costs, and stringent regulations for air freight may slow down the global digital freight forwarding market growth.
- The rise in direct-to-consumer (DTC) e-commerce logistics and reduction in lead time and cost due to multi-modal system adoption is forecast to open new growth opportunities for the global digital freight forwarding market over the forecast period.
Impact Analysis of COVID-19
- The COVID-19 had negatively impacted the global digital freight forwarding market, and it will remain in effect until the second quarter of 2021.
- In the wake of COVID-19, governments implemented strict lockdown measures, resulting in flight cancellations and bans on e-commerce services, causing a massive decline in logistics activities across the globe.
- As a result of the COVID-19 pandemic, huge supply-demand issues occurred, resulting in long delays in the activities of digital freight forwarding throughout the world.
Regional Insights
In 2020, North America held the largest share of the digital freight forwarding market. It is due primarily to the fact that the U.S. has traditionally led the world in international trade. Additionally, most of the industry participants hail from North America.
Asia Pacific (APAC) is forecast to grow at the fastest rate during the forecast period. The region has an increasing number of manufacturing bases and special economic zones (SEZ). China, India, and Australia are the major markets that will drive the Asia Pacific market growth.
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Leading Competitors
The leading prominent companies profiled in the global digital freight forwarding market are:
- APL Logistics
- BAX Global
- Caterpillar Logistics
- CH Robinson Worldwide, Incorporated
- DHL Danzas Air and Ocean
- Eagle Global Logistics
- FedEx Corporation
- JB Hunt Transport Services Incorporated
- Kuehne + Nagel International AG
- Maersk Logistics
- Menlo Worldwide
- Nippon Express
- NYK Logistics
- Panalpina
- Penske Truck Leasing Co. LP
- Schneider National
- SembCorp Logistics (USA)
- TNT Logistics
- United Parcel Service Incorporated
- UTi Worldwide Incorporated
- Wilson Logistics Group
- XPO Logistics Incorporated
- Other Prominent Players
Scope of the Report
The global digital freight forwarding market segmentation focuses on Modes of Transport, Function, Vertical, Deployment Mode, and Region.
Segmentation based on Modes of Transport
- Air
- Land
- Sea
Segmentation based on Function
- Warehouse Management
- Transportation Management
Segmentation based on Vertical
- Automotive
- Healthcare
- Manufacturing
- Retail and E-Commerce
- Others
Segmentation based on Deployment Mode
- Cloud
- On Premises
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Digital Freight Forwarding Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Digital Freight Forwarding market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Digital Freight Forwarding Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Digital Freight Forwarding market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Digital Freight Forwarding market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Digital Freight Forwarding market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Digital Freight Forwarding market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Digital Freight Forwarding business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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