Freight Forwarding Management Software Market will reach at US$ 27.7 Billion in 2032 Biggest Innovation with Top Key Players -WiseTech, Magaya, Softlink, Descartes, Oracle, Riege Software, Forward Computers, Mercurygate, Akanea, BoxOn Logistics, Logitude,

The freight management software market is anticipated to have an effective CAGR of 6.4% during the period of 2022-2032. The freight management software market is expected to expand from US$ 9.6 Billion in 2022 to US$ 27.7 Billion in 2032. Previously, the market grew at a faster rate of 7.2% from 2015 to 2021, culminating in a market of US$ 8.7 Billion in 2021.

"Increasing visibility of the supply chain will lead to the growth of the freight management software market."

Get Free Sample Report + All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.mraccuracyreports.com/report-sample/380039

As companies continue to grow in the Freight management software market, they turn to technologies to help them track, trace, secure, and control their in-transit cargo.

The market trends for the freight management system market are as follows:

Order management system to drive the market growth

Order management system is a way that manages the lifecycle of an order. It monitors all the information & processes, inventory management, and after-sales service. To simplify all the procedures in a proper way in organizations and the need to build a flexible system to improve the customer experience, businesses are implementing order management systems in freight management systems. Order management integrates all enterprise resource planning system and product information systems. The advantages of the system increase the demand in organizations.

Increased adoption of freight management system by third-party logistics

Third party logistics segment is expected to make use of freight management system and the market is expected to grow at a high rate during the forecast period. The higher growth rate is attributed to the implementation of free trade policy by several countries around the world. Further, rapid rise in demand for on-time shipment of products & raw materials and growing demand for warehouse efficiencies also drive the growth of freight management systems in the third-party logistics market.

Some of the Major Key players profiled in the study are WiseTech, Magaya, Softlink, Descartes, Oracle, Riege Software, Forward Computers, Mercurygate, Akanea, BoxOn Logistics, Logitude, Shanghai Qihang, CSA Software, dbh Logistics IT AG, Linbis, Boltrics B.V., WallTech, Intellect Technologies

What Is The Covid-19 Impact On The Freight Management Software Market?
Due to the Coronavirus pandemic, there has been supply chain disruption in several industries, including pharmaceuticals, automotive, and electronics. China's major container ports were experiencing a backlog of charges because of a shortage of truck drivers to pick up containers despite travel restrictions.

There have also been some cancellations of ocean shipping routes by shipping companies in order to limit the spread of the virus, which may also inhibit the demand for freight transportation and distribution systems.

Yet, the pandemic has led to a dramatic increase in e-commerce and an accelerated digital transformation. Distancing from friends and family became the new normal, leaving consumers and businesses increasingly dependent on digital purchasing and providing goods and services. As a consequence, the dramatic rise of e-commerce penetration will have a positive effect on the freight management system market dynamics over the coming years.

Freight Forwarding Management Software Segmentation by Type:

Road Forwarding Software, Ocean Forwarding Software, Air Forwarding Software, Other.

Freight Forwarding Management Software Segmentation by Application:

Large Enterprises (above 200 employees), SMEs

Restraint: Congested trade routes
The world is entering the early stage of freight transportation capacity crisis. The last decades have witnessed steady growth in the demand for freight transportation in North America and Europe, driven by economic expansions and global trade. This has caused freight congestion in specific areas on highways, which are not designed to handle large volumes of freight traffic. According to Government Accountability Office (GAO), truck, rail, water, and intermodal volumes of freight are projected to grow by 98%, 88%, 49%, and 101%, respectively, by 2035. This can have detrimental effects on the cargo being transported and can add to the costs; for instance, as the number of trains per mile on the track increases, the average speed declines, and the amount of goods in freight yards increases, leading to further reduction in travel time along with increased potential of routing errors and damage to shipments.

Opportunity: Cloud and big data analytics
Big data analytics is arguably the biggest opportunity in the generation of freight management transportation. Speed, efficiency, and reliability are the factors that determine the success of freight business. With technology advances and increasing digitization, organizations today generate huge amounts of data, but struggle to gain maximum benefits from it. Big data analytics can bring the real value of data to improve freight operational efficiencies and customer satisfaction at reduced costs.
The rapid increase in big data applications has led to the need for developing newer technologies to optimize cost efficiency. Thus, these factors are expected to be the cause of increasing the growth of new analytics platforms and new data storage centers in the freight management system market.

Please click here today to buy full report ( with free 1 year service) @ https://www.mraccuracyreports.com/checkout/380039

By Component
Solution
Services

By Solution
Planning
Supplier and Vendor Management
Freight Order Management
Revenue Management
Dispatch Management
Claims Management
Execution and Operations
Electronic Data Interchange
Load Optimization
Brokerage Operational Management
Freight Visibility
Freight Audit and Payment
Transportation Management System
Control and Monitoring
Freight Tracking and Monitoring Solution
Cargo Routing and Scheduling Solution
Cargo Security

By Services
Consulting
System Integration and Deployment
Support and Maintenance

By End-User
3PLs
Forwarders
Brokers
Shippers
Carriers

By Mode
Rail Freight
Road Freight
Ocean Freight
Air Freight

Recent Developments in the Freight Management Software Market

The Descartes Group acquired Aljex, a cloud-based logistics company, in February 2018 to give freight forwarders and transportation providers access to Aljex's back-office management solutions. The company was acquired by Descartes for USD 32.4 million in cash.
Der Werner Enterprises Group has announced the opening of a new office in Texas, US. Werner Enterprises provides services in intermodal transportation, brokerage, freight management, and global portfolio services.
A breakthrough partnership between JDA Software and SATO, a Japan-based global barcode and RFID technology company, occurred in December 2017. SATO's visual warehouse solutions were integrated with JDA Software's warehouse management and warehouse labour management to improve both solutions with digitalization technologies such as the Internet of Things (IoT) and big data.
MacroPoint, an electronic transportation network provider, was acquired by Descartes in August 2017 to help the company provide location-based truck tracking and prediction data for truckload shipments to become a market leader in visibility. The deal was closed at USD 107 million.

Call Us - UK +44 7452119323
USA +1 8045001224
Email us - sales@mraccuracyreports.com
30 Crawley Lane, West Sussex, RH10 7EG, United Kingdom
3351 Green Turtle Rd, Regina, SK S4V 3N6, Canada

MR Accuracy Reports is a Market Research and consulting company that accomplishes requirement of research agencies,small, medium and large corporations, global business leaders, government organizations,
SME's, Individual & Start-ups, top management consulting firms

This release was published on openPR.