Digital Freight Brokerage Market | An Emerging Hint of Opportunity

Digital Freight Brokerage Market Outlook - 2027

The digital freight brokerage in the transportation & logistics sector is gradually heading toward a digital transformation, as more companies are leveraging digital technologies to improve various aspects of the value chain. The considerable rise in the volume of container shipping and air freight due to consistent restocking of business inventories has resulted in the overall growth of logistics worldwide, which, in turn, is expected to have a direct impact on the overall growth of the global digital freight brokerage market. Airfreight volumes are projected to witness steady growth in the upcoming years, as air freight companies continue to focus on improving their service and addressing the complexities involved in air freight management. The increase in adoption of smartphones and mobile applications among shippers and carriers to match their services and needs boosts the market growth during the forecast period.

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COVID-19 scenario Analysis:

• COVID-19 is anticipated to affect the trade more profoundly than any other recent crisis. Companies with a well-informed perspective on potential trade scenarios are expected to begin their recovery to a position of strength.
• The pandemic will very likely hit global trade deeper and for longer than we have seen in other crises of the recent past.
• The extent of the disruption will vary by commodity, trade lane, and mode of transport, and it will be steered by local differences in the crisis’s severity.

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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Some of the factors that boost the market growth include increase in adoption of smartphones and rise in investments in digital freight brokerage. However, the lack of confidence in the digital freight brokerage platform among truck drivers and small companies is anticipated to hamper the growth of the digital freight brokerage market. Furthermore, the increase in focus on centralizing various logistics operations and processes through mobile applications is expected to offer lucrative opportunities for the market growth during the forecast period.

Increase in adoption of smartphones

The proliferation of smartphones and tablets makes this process much more efficient by letting shippers find carriers on demand and offers price transparency. Moreover, the increase in adoption of smartphones and mobile applications among shippers and carriers to match their services and needs is a growing trend. In addition, most of the players in the digital freight brokerage market act as mobile-based freight brokers who provide a mobile platform, where shippers and carriers can interact directly. Therefore, the increase in adoption of smartphones and mobile applications to enhance the efficiency of operations is expected to drive the demand for digital freight brokerage solutions during the forecast period.

Increase in investments in digital freight brokerage

There has been a notable shift toward the adoption of digital freight brokerage platform trend that is likely to continue during the forecast period. A number of small to large-scale digital freight brokerage players have entered the market due to the increase in monetary support from venture capitalists. In addition, a number of companies, particularly in developed economies are subjected to invest in considerable resources within technology to transform their brokerage operations by leveraging the benefits of technology. Hence, surge in digitalization and investments in freight brokerage foster the market growth during the forecast period.

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