Press release
Managed Transportation Services Market 2024: Growth Opportunities, Trends, and Key Segments
Managed Transportation Services Market
The new report published by The Business Research Company, titled Managed Transportation Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the managed transportation services market size has grown rapidly in recent years. It will grow from $11.03 billion in 2023 to $13.03 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. The managed transportation services market size is expected to see rapid growth in the next few years. It will grow to $25.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%.
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What Is Driving The Growth Of The Global Managed Transportation Services Market?
Growth Of Manufacturing Units Driving The Managed Transportation Services Market
The growing manufacturing sector is expected to propel the growth of the managed transportation services market going forward. The manufacturing sector encompasses industries and businesses involved in producing goods through transforming raw materials, components, or parts into finished products using machinery, tools, and labor. The manufacturing sector's growth is due to the introduction of automated systems and robotics, global trade agreements, improved international relations, and transportation infrastructure development. Managed transportation services enhance manufacturing by providing expertise, technology, and strategic solutions to optimize transportation and logistics operations. This results in cost savings, improved efficiency, enhanced visibility, and better risk management, ultimately contributing to manufacturing enterprises' overall success and competitiveness. For instance, in February 2023, according to Statistics Canada, a Canada-based government agency, Canada's manufacturing business showed a 17.9% increase in sales to reach $850.9 billion in 2022. Therefore, the growing manufacturing sector is driving the growth of the managed transportation services market.
What Is The Key Trend In The Global Managed Transportation Services Market?
RXO Launches AI-Powered Truck Check-In Technology For Warehouses And Distribution Centers
Major companies operating in the managed transportation services market are focused on developing innovative technologies, such as visual AI technology, to optimize logistics operations. Visual AI technology encompasses artificial intelligence systems that process and analyze visual information from images or videos to extract insights or execute tasks autonomously. For instance, in January 2024, RXO Inc., a US-based company that provides transportation solutions, launched AI-powered truck check-in technology for warehouses and distribution centers. The technology leverages advanced artificial intelligence to automate and streamline the truck check-in process, significantly reducing wait times and improving operational efficiency. It includes features such as real-time vehicle recognition, automated scheduling, and dynamic dock assignment to optimize the flow of incoming and outgoing shipments. The system integrates with existing warehouse management software, providing seamless data transfer and real-time updates on truck status.
How Is The Global Managed Transportation Services Market Segmented?
The managed transportation services market covered in this report is segmented -
1) By Service Type: Planning And Optimization, Execution And Operations, Freight Audit And Payment, Reporting And Analytics, Consulting Services
2) By Application: Roadways, Railways, Waterways, Airways
3) By End Use Industry: Manufacturing, Retail, Healthcare And Pharmaceuticals, Food And Beverages, Automotive, E-Commerce, Other End Use Industries
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How Is The Competitive Landscape Of The Global Managed Transportation Services Market?
Major companies operating in the managed transportation services market are UPS Supply Chain Solutions, FedEx Supply Chain, Oracle Corporation, Kuehne + Nagel International AG, SAP SE, C.H. Robinson Worldwide Inc., Expeditors International of Washington Inc., J.B. Hunt Transport Services Inc., GEODIS, Ryder Systems Inc., Schneider National Inc., GlobalTranz, XPO Logistics Inc., Penske Logistics, Livingston International, Descartes Systems Group, Uber Freight LLC, MIQ Logistics, Aptean, Practical Law, Endicia, CLX Logistics LLC, Amber Road Inc., BluJay Solution, DHL Supply Chain, Supply Chain Brain
Contents Of The Global Managed Transportation Services Market
1. Executive Summary
2. Managed Transportation Services Market Report Structure
3. Managed Transportation Services Market Trends And Strategies
4. Managed Transportation Services Market - Macro Economic Scenario
5. Managed Transportation Services Market Size And Growth
…..
27. Managed Transportation Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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