Global Freight Brokerage Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2022-2028

Freight Brokerage Market Statistics 2028
Freight Brokerage market is projected to reach US$ 82150 million by 2028 from an estimated US$ 60610 million in 2022, at a CAGR of 5.2% during 2023 and 2028. Key drivers of the freight brokerage market include the growing demand for shipping transportation due to the rising e-commerce industry across the world. Further, the rising usage of smartphones, growing wireless connectivity, and advantages provided by digital platforms are going to drive the growth of the freight brokerage market during the forecast period. Moreover, rapid integration of technology and growth in the number of licensed brokers will accelerate the market growth in the coming years.

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Freight Brokerage Market Trends
Growing demand for shipping transportation

Shipping or intermodal transportation is going to increase manifold in the coming years. As eCommerce has created a global disruption in the supply chain and industrial transportation networks the demand for fast and efficient shipping of goods is rising. Intermodal transportation is a combination of two or more different shipping modes such as ships, aircraft, trucks, trains which enable efficient and cost-effective delivery of goods for shippers, carriers, and other stakeholders in the supply chain industry. Thus growing shipping transportation will create lucrative opportunities for the growth of the freight brokerage market during the forecast period.

Rising usage of smartphones and digital transformation

Freight transactions create an enormous amount of data that can be automated easily through digital platforms. The various benefits offered by digital platforms include track and trace, automated pricing, digital document storage, push notifications, communication via an app, more accuracy, reduced costs to both shippers and carriers, etc. Thus growing smartphone usage along with digital transformation has led to the creation of mobile/web-based platforms which are enhancing the efficiency of freight transportation ultimately driving the growth of the freight brokerage market.

Integration of technology and a growing number of licensed brokers

Freight brokers provide a range of benefits to shippers and carriers by creating more efficient routes and arranging more backhauls thereby each vehicle is able to accomplish more on fewer resources ultimately reducing costs. Further with the integration of technology transactions and processes are automated improving efficiency. Also with new digital entrants in the freight brokerage industry such as Convoy, Uship, etc, the number of licensed brokers is only going to increase in the coming years. Thus rapid integration of technology along with the growing number of licensed brokers is expected to accelerate the growth of the freight brokerage market during the forecast period.

Freight Brokerage Market Share Analysis
Based on region, United States is the largest market, with a share over 70%, followed by China, and Europe, both have a share about 15 percent.

In terms of product, Truckload is the largest segment, with a share about 60%.

And in terms of application, the largest application is Food and Beverage, followed by Retail, Manufacturing, Auto and Industrial, etc.

Global Freight Brokerage key players include C.H. Robinson, Expeditors, Landstar System, TQL, etc. Global top four manufacturers hold a share about 60%.

Freight Brokerage Market Segmentation
Freight Brokerage Market By Type
Truckload
LTL
Other
Freight Brokerage Market By Application
Food & Beverage
Manufacturing
Retail
Auto & Industrial
Chemical
Other
Freight Brokerage Market By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa
In the competitive analysis section of the report, leading as well as prominent players of the global Freight Brokerage market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2016-2021.

Freight Brokerage Market By Company
C.H. Robinson
Expeditors
Landstar System
TQL
Coyote Logistics
XPO Logistics
Yusen Logistics
Echo Global Logistics
JB Hunt Transport
Worldwide Express
Hub Group
GlobalTranz Enterprises
Allen Lund
Transplace
Werner Logistics
BNSF Logistics

SIMILAR REPORT

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