Global Digital Freight Shipping market is projected to reach the value of $22.08 billion by 2030

According to the report published by Virtue Market Research, In 2022, the Global Digital Freight Shipping market was valued at $4.5 billion, and is projected to reach a market size of $22.08 billion by 2030. Over the forecast period of 2023-2030, the market is estimated to grow at a CAGR of 22%.

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The digital freight shipping market has experienced steady growth over the past few years and is projected to continue to do so in the long-term. One of the main drivers of this growth is the increasing demand for real-time tracking and visibility of shipments. As customers expect faster and more efficient delivery of their goods, freight shippers are looking for solutions that can provide end-to-end visibility of their shipments. Digital freight shipping technologies such as Internet of Things (IoT) devices and blockchain-enabled platforms are allowing shippers to track their shipments in real-time, resulting in increased efficiency and reduced costs.

The COVID-19 pandemic has had a significant impact on the digital freight shipping market. The pandemic caused widespread disruptions to supply chains, leading to increased demand for digital solutions that could help shippers navigate the challenges. The pandemic has also highlighted the need for increased transparency and visibility in supply chains, as many businesses struggled to track the status of their shipments during the crisis. As a result, the pandemic has accelerated the adoption of digital freight shipping solutions, as businesses look for ways to improve their supply chain resilience.

In the short-term, one of the key drivers of the digital freight shipping market is the increasing demand for last-mile delivery solutions. As e-commerce continues to grow, businesses are looking for ways to deliver goods to customers quickly and efficiently. This has led to the emergence of new last-mile delivery technologies, such as drones and autonomous vehicles, which are being integrated into digital freight shipping platforms. These technologies offer faster delivery times and reduced costs, which are essential in the highly competitive e-commerce market.

An opportunity in the digital freight shipping market is the increasing use of artificial intelligence (AI) and machine learning (ML) technologies. These technologies can help shippers to optimize their routes, reduce costs, and improve the overall efficiency of their operations. AI and ML can also be used to predict demand, which can help shippers to adjust their operations to meet changing customer needs. As these technologies become more widely adopted, they are expected to drive further growth in the digital freight shipping market.

One trend observed in the digital freight shipping industry is the increasing focus on sustainability. As businesses look for ways to reduce their carbon footprint, digital freight shipping solutions are emerging as a key area of focus. By using digital solutions to optimize routes and reduce the number of empty trucks on the road, shippers can reduce their emissions and improve their sustainability credentials. As customers become more environmentally conscious, sustainability is likely to become an increasingly important factor in the digital freight shipping market.

Segmentation Analysis:
The Global Digital Freight Shipping market segmentation includes:

By Deployment Mode: Cloud, On-Premises

The digital freight shipping market can be segmented based on the deployment mode, which refers to the way in which the software is delivered and used by the end-users. The two main deployment modes are cloud and on-premises.

The cloud-based deployment mode is currently the largest in the market and is expected to maintain its dominance during the forecast period. This is due to the numerous benefits offered by cloud-based solutions, including scalability, flexibility, and cost-effectiveness. Cloud-based solutions allow shippers to access their data and applications from anywhere in the world, which is particularly important in the increasingly globalized business environment.

On-premises deployment mode, on the other hand, is expected to be the fastest-growing segment during the forecast period. This is due to the growing concerns around data security and the need for greater control over data and applications. On-premises solutions are deployed on the user's own servers and infrastructure, which provides greater control over the data and applications. This is particularly important for businesses that deal with sensitive information or operate in highly regulated industries.

By Transportation Mode: Sea, Air, Land

The digital freight shipping market can also be segmented based on the transportation mode, which refers to the mode of transportation used to ship the goods. The three main transportation modes are sea, air, and land.

The sea transportation mode is currently the largest in the market, due to the high volume of goods that are transported by sea. Sea transportation is particularly important for businesses that deal with heavy and bulky goods, such as raw materials and equipment. The sea transportation mode is expected to maintain its dominance during the forecast period, due to the high volume of goods that are transported by sea.

The air transportation mode, on the other hand, is expected to be the fastest-growing segment during the forecast period. This is due to the increasing demand for fast and efficient delivery of goods, particularly in the e-commerce industry. Air transportation is particularly important for businesses that deal with high-value goods or perishable items, such as fresh produce and pharmaceuticals. The growth in the air transportation mode is also driven by the increasing adoption of drones and other unmanned aerial vehicles for last-mile delivery.

The land transportation mode is also an important segment in the digital freight shipping market, particularly for businesses that operate domestically or regionally. The land transportation mode includes trucking, rail, and road transportation, and is used for the transportation of goods across land borders. The land transportation mode is expected to grow steadily during the forecast period, due to the increasing demand for efficient and cost-effective transportation solutions.

By End-User: Retail and E-Commerce,

Manufacturing, Healthcare, Automotive, Others

The digital freight shipping market can be segmented based on the end-user, which refers to the industry or sector that uses the digital freight shipping solutions. The main end-users of digital freight shipping solutions are retail and e-commerce, manufacturing, healthcare, automotive, and others.

The e-commerce industry is currently the largest end-user segment in the market, due to the increasing demand for fast and efficient delivery of goods. The growth of e-commerce has led to the emergence of new delivery models, such as same-day delivery and next-day delivery, which require efficient and cost-effective shipping solutions. Digital freight shipping solutions are helping e-commerce businesses to meet the growing demand for faster and more efficient delivery of goods.

The healthcare industry is expected to be the fastest-growing segment during the forecast period, due to the increasing demand for secure and efficient transportation of medical supplies and equipment. Digital freight shipping solutions are particularly important for the healthcare industry, as they can help to ensure that medical supplies and equipment are delivered in a timely and secure manner. This is particularly important for perishable items, such as vaccines and blood products.

The manufacturing industry is also an important segment in the digital freight shipping market, particularly for businesses that operate globally. Digital freight shipping solutions can help manufacturing businesses to optimize their supply chain operations and reduce costs. The automotive industry is another important end-user segment in the market, particularly for businesses that deal with the transportation of vehicles and vehicle parts.

Regional Analysis:
North America is currently the largest region in the market, due to the high level of adoption of digital freight shipping solutions in the region. The presence of several leading digital freight shipping providers in the region, such as Amazon, FedEx, and UPS, has also contributed to the growth of the market in North America.

The Asia-Pacific region is expected to be the fastest-growing region during the forecast period, due to the increasing adoption of e-commerce and the growing demand for efficient and cost-effective shipping solutions in the region. The high population density in the region has also contributed to the growth of the market, as businesses look for ways to deliver goods to customers in a timely and efficient manner.

Europe is another important region in the digital freight shipping market, particularly for businesses that operate in the retail and manufacturing sectors. The high level of automation in the manufacturing sector in Europe has contributed to the growth of the market in the region, as businesses look for ways to optimize their supply chain operations and reduce costs.

The rest of the world segment includes regions such as South America, the Middle East, and Africa. This segment is expected to grow steadily during the forecast period, due to the increasing adoption of digital freight shipping solutions in these regions.

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Latest Industry Developments:
• Acquisition: In February 2021, Descartes Systems Group, a global leader in logistics technology solutions, announced the acquisition of Portrix Logistics Software, a leading provider of multimodal rate management solutions. The acquisition is expected to enhance Descartes' global logistics network and help shippers to streamline their freight rate management processes.

• Joint Venture: In March 2021, DHL Global Forwarding, a leading provider of air and ocean freight services, announced a joint venture with Hewlett Packard Enterprise (HPE) to create a new supply chain visibility platform. The platform will use HPE's Internet of Things (IoT) and real-time data analytics capabilities to provide end-to-end visibility of shipments.

• Product Launch: In January 2021, Maersk, a global shipping company, launched a new digital platform called Maersk Flow. The platform is designed to provide end-to-end supply chain visibility and collaboration, helping shippers to optimize their operations and reduce costs. Maersk Flow includes a range of digital tools, such as real-time tracking, predictive analytics, and automated customs clearance.

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