Digital Freight Forwarding Market Anticipated to Grow at a CAGR of 25% by 2025

Market Insights Reports delivers key insights on the Digital Freight Forwarding market in its latest report titled, “Digital Freight Forwarding Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2025)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Digital Freight Forwarding Market is expected to grow at a CAGR of around 25% during the next few years.

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Top Key Players in the Global Digital Freight Forwarding Market: Flexport, Twill, FreightHub, Fleet, InstaFreight, Transporteca, Kontainers, KN Freight Net, Turvo, iContainers, DHL Group, Kuehne + Nagel International AG and Agility Logistics Pvt. Ltd., and Others.

Key Market Trends:

Growth in E-Commerce driving Digital Freight Forwarding Market

In 2019, retail e-commerce sales worldwide amounted to around 3.53 trillion US dollars and e-retail revenues are projected to grow even further at a quicker pace in the coming few years. Online shopping is one of the most popular online activities worldwide, both domestic and cross-border e-commerce is booming in developing markets such as China, India, and Indonesia due to that reason. This encompasses not just direct-to-consumer retail, but also shipments of electronics, pharmaceuticals, and consumer packaged goods. With increasing access to internet even the manufacturers of products are gradually moving from traditional freight forwarding to digital freight forwarding. The major benefits of digital freight forwarding include instant quotes, transparent pricing, comparison of rates and carriers, tracking, easy documentation and others.

Flexport leading the Digital Freight forwarding market

Flexport is a San Francisco-based digital freight forwarder and logistics platform. Founded in 2013, the company has around half of its business in ocean freight and the other half in air freight. After its Series C round of funding in September 2017, Flexport had a valuation of $800 million. DST Global led this round; other investors include Founders Fund and Wells Fargo. In 2018, the company received USD 100 million from SF Express, a leading courier company in China. This brought Flexport’s total funding to USD 300 million and its valuation to more than USD 1 billion.

The startup has a run-rate revenue of approximately USD 400 million and is growing steadily. It ships roughly 120,000 TEUs (20-foot equivalent units) annually, with a focus on transpacific trade lanes, where its shipment volume is the 20th largest on the transpacific eastbound route. It reached a revenue of USD 860 million in 2019 and became the leader in digital freight forwarding market as it provides high quality logistics service with added analytical reports.

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 Top Line Market Forecast:

Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2025 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.             

This Digital Freight Forwarding Market report addresses:

- The Market size from 2016-2021

- Expected market growth until 2025

- Forecast of how market drivers, restraints, and future opportunities will affect

- Segment and regions that will drive or lead the market growth and why

- Comprehensive mapping of the competitive landscape

- In-depth analysis of key sustainability strategies adopted by market place

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