Freight Brokerage Market Size and Trends | Exclusive Report till [2023-2032] | CH Robinson, Total Quality Logistics, XPO Logistics, Echo Global Logistics

The global freight brokerage market revenue was around US$ 48.5 billion in 2021 and is estimated to reach US$ 90.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2022 to 2031.

Brokers are used in the freight brokerage business to act as middlemen in the shipping sector. Due to their ability to connect clients with trucking and shipper firms, goods brokers play a crucial role. With the advent and expansion of digital goods broker companies in recent years, the logistics sector has undergone a transition that has further revolutionized the sector.

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Factors Influencing Market Growth

The increase in smartphone use, greater wireless connectivity, and benefits of digital platforms include accuracy, higher efficiency, less time consumption, lower prices, and transparent business. Thus, these factors fuel the market growth.

Rising demand for shipping transportation around the world drives the freight brokerage market.

An increase in international trade activities, expansion of the e-commerce sector, and rising popularity of consolidated air freight services boost the market growth.

The adoption of freight brokerage services for cost- and lead-time-saving purposes, and a rise of the digital freight forwarding sector, are anticipated to open up opportunities for the freight brokerage market.

Poor infrastructure, a rise in direct-to-consumer (DTC) logistics usage, and increasing logistical costs may impede the expansion of the market growth.

Study of the COVID-19 Pandemic

The COVID-19 pandemic had a negative impact on the freight brokerage market due to a significant slowdown in the supply chain, a decline in corporate confidence, and rising customer apprehension. The lockdown and temporary shutdown of industries have already been proclaimed by governments in several places, which has a negative impact on overall production and sales. Countries throughout the world have implemented tight limitations that might last for days or even months. Important supply chains in the logistics and transportation sector are hindered due to the COVID-19 pandemic, though to varying degrees in the air, freight, and sea sectors.

Regional Insights

Asia-Pacific dominates the freight brokerage market in terms of revenue. The expansion of the Asia-Pacific freight brokerage business is also fueled by the region's growing use of outsourced logistics services. Additionally, strong government support for the expansion of the region's logistics infrastructure promotes market expansion.

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Leading Competitors
The leading competitors in the global freight brokerage market are:
CH Robinson
Total Quality Logistics
XPO Logistics
Echo Global Logistics
Worldwide Express
Coyote Logistics
Landstar System
Mode Transportation
Schneider
GlobalTranz Enterprises
JB Hunt Integrated Capacity Solutions
Hub Group
BNSF Logistics
KAG Logistics
Yusen Logistics (Americans) Inc
England Logistics
Transplace
ArcBest Corporation
Allen Lund Companies
Redwood Logistics
Others
Segmentation Analysis
The global freight brokerage market segmentation focuses on End-User Industry, Customer Type, Services, Mode of Transport, and Region.
Segmentation based on End User Industry
Others
Retail and E-Commerce
Manufacturing
Healthcare
Automotive
Segmentation based on Customer Type
B2B
B2C
Segmentation based on Mode of Transport
Waterways
Roadways
Others

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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Brazil
Argentina
Rest of South America

Reasons to Buy This Report

(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.

(B) The report offers comprehensive analysis of Freight Brokerage market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.

(C) The research includes segmentation of the Freight Brokerage market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.

(D) Analysis of the Freight Brokerage market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.

(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.

(F) The study helps evaluate Freight Brokerage business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.

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This release was published on openPR.