Revolutionizing the Local General Freight Trucking Market through IoT-Enabled Truck Innovations || FedEx Corporation, Deutsche Post DHL Group, Yellow Corporation

As per The Business Research Company's Local General Freight Trucking Opportunities And Strategies Market Report 2023, the global local general freight trucking market reached a value of nearly $128,833.59 million in 2022, having grown at a compound annual growth rate (CAGR) of 2.1% since 2017. The market is expected to grow $128,833.59 million in 2022 to $141,465.22 million in 2027 at a rate 1.9%. The market is then expected to grow at a CAGR of 19.0% from 2027 and reach $158,987.29 million in 2032.

The increase in e-commerce sales is expected to fuel the growth of the local freight trucking market in the forecast period. E-Commerce refers to the purchase and sale of products and services on the Internet. The e-commerce industry relies on trucking to move its items from one location to another, which impacts the trucking industry directly. For example, according to the International Trade Administration, an agency in the United States Department of Commerce, e-commerce sales in Canada were estimated to be around $2.34 billion in March 2022. By 2025, it is predicted that retail eCommerce sales will reach $40.3 billion. Also, according to ecommerce DB, a Hamburg-based IT services and IT consulting company, the Russian eCommerce market is anticipated to grow by 67.2% in 2023, which will help contribute to the 10.4% global growth rate for 2023

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Major companies in the local general freight trucking market are deploying artificial intelligence (AI) and technological advancements in their trucks to reap many benefits in accident prevention and safety, fuel efficiency, route optimization and workflow management. Artificial Intelligence is machine-based learning which makes use of human intelligence functionalities like reasoning and problem-solving abilities to obtain insights and provide useful information. Companies in the market are deploying AI applications. For example, in December 2022, CJ Logistics, a South Korean logistics company, launched The Unban, a freight transportation platform that directly connects senders and freight trucks through artificial intelligence and big data technology .

The top opportunities in the local general freight trucking market segmented by type will arise in the truckload transportation segment, which will gain $4,110.0 million of global annual sales by 2027. The top opportunities in segment by size will arise in the heavy trucks segment, which will gain $3,770.6 million of global annual sales by 2027. The top opportunities in segment by application will arise in the industrial and manufacturing segment, which will gain $3,323.6 million of global annual sales by 2027. The local general freight trucking market size will gain the most in the China at $3,147.0 million.

Local General Freight Trucking Market Segmentation:
The local general freight trucking market is segmented by type, by size and by application.

By Type -
a) Truckload Transportation
b) Less-Than-Truckload Transportation
c) Intermodal Transportation
d) Dry-Bulk Transportation
e) Other Types

By Size -
a) Heavy Trucks
b) Medium Trucks
c) Light Trucks

By Application
a) Oil And Gas
b) Industrial And Manufacturing
c) Energy And Mining
d) Food And Beverages
e) Pharmaceuticals And Healthcare
f) Other Applications

Major players in the local general freight trucking market include FedEx Corporation, Deutsche Post DHL Group, Yellow Corporation, C.H. Robinson Worldwide Inc, Old Dominion Freight Line Inc..

The regions covered in the global local general freight trucking market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Local General Freight Trucking Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Local General Freight Trucking Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Local General Freight Trucking Market, Conclusions And Recommendations
23. Appendix

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