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New study: Freight Management System market to 2023 – growing steady at 10.1% CAGR and projected to reach US$ 17.45 billion

Automotive and Transportation

Freight Management System Market report provides analysis of top players in all regions with industry size, growth, sales, technology, market insights, demand, trend, key statistics and industry forecasts to 2023.

RnRMarketResearch always aims at offering their clients an in-depth analysis and the best research material of the various market. This report on the global freight management System market is committed fulfilling the requirements of the clients by giving them thorough insights into the market.

An exclusive data offered in this report is collected by research and industry experts team.

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The Freight Management System Market size is expected to grow from US$ 10.76 Billion in 2018 to US$ 17.45 Billion by 2023, at a CAGR of 10.1% during the forecast period. This report spread across 182 pages, profiling 21 companies and supported with 97 tables and 42 figures is now available in this research.

The Shippers segment is expected to grow at the highest CAGR during the forecast period. Shippers have realized that immediate responses, quick business decisions, and customer satisfaction are the most important features to expand their businesses, increase revenues, and ensure desired outcomes.

The advancements in freight management solutions and technologies, along with the increasing cost of logistics and unpredictable demand and supply cycles have increased the priorities for logistics in the business strategies of shippers.

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The Airfreight transportation mode is expected to witness the fastest growth rate during the forecast period. Air transportation is the most cost-intensive transportation mode, with low adoption among logistics providers.

The demand for freight management system solutions are higher among air freight enterprises, as these solutions offer security and enable the tracking of precious goods.

The APAC region is expected to witness the fastest growth rate in the freight management system market, due to the region’s nature of rapidly adopting new technologies, making higher investments in digital transformation, and its growing share of freight volumes transported globally. Organizations in the APAC region are adopting the freight management system, due to the high share of global trade volumes that it possesses, with the freight management system solutions enabling businesses to reduce costs, save time, increase control, and incorporate flexibility in supply chains.

Breakdown of primary participants’ profile:

  • By Company Type: Tier1: (30%), Tier2: (40%), and Tier 3: (30%)
  • By Designation: C-Level:(40%), Director Level: (25%),and Manager Level: (35%)
  • By Region: North America: (35%), APAC: (30%), Europe: (25%), and RoW: (10%)

Report Highlights:

  • To analyze each submarket with respect to the individual growth trends, prospects, and contributions to the total market
  • To forecast the size of the market segments with respect to 5 main regions, namely, North America, Europe, Latin America, Asia Pacific (APAC), and Middle East and Africa (MEA)
  • To analyze the market opportunities for stakeholders by identifying the high-growth segments in the freight management system market
  • To define, determine, and forecast the global freight management system market by solution, service, end-user, transportation mode, and region from 2018 to 2023, and analyze the various macro and microeconomic factors, which affect the market growth
  • To profile the key market players; provide a comparative analysis on the basis of their business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the competitive landscape of the market

Top Companies profiled in the Freight Management System Market include are Descartes (Canada), Oracle (US), Werner Enterprises (US), MercuryGate (US), SAP (Germany), Accenture (Republic of Ireland), JDA Software (US), Ceva Logistics (Spain), UPS (US), DB Schenker (Germany), C.H. Robinson TMC (US), Riege Software (Germany), Retrans (US), BluJay Solutions (UK), McLeod Software (US), FreightView (US), Freight Management (US), Linbis (US), Logisuite (US), DreamOrbit(India), Manhattan Associates (US), Magaya Corporation (US), Kuebix (US), ImageSoft (Australia), 3GTMS (US).

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Target Audience for Freight Management System Market :

  • Freight carriers
  • Industries/shippers
  • Logistics service providers/lead logistics
  • Freight forwarders and brokers
  • Independent Software Vendors (ISVs)
  • Internet of Things (IoT) hardware and software vendors
  • Industry associations
  • Government/regulatory agencies

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