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General Transport Market Report 2024 - General Transport Market Size And Trends
General Transport Market
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According to The Business Research Company's, The general transport market size has grown strongly in recent years. It will grow from $2386.18 billion in 2023 to $2597.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to economic growth, globalization of trade, urbanization, manufacturing and supply chain, consumer behavior and e-commerce.
The general transport market size is expected to see strong growth in the next few years. It will grow to $3604.98 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to environmental sustainability, infrastructure investment, digitalization and automation, climate change mitigation, public transit and multi-modal transportation. Major trends in the forecast period include digitalization and smart mobility, electric and autonomous vehicles, urban mobility solutions, e-mobility and micromobility.
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Market Drivers and Trends:
Courier service providers are now offering on-demand delivery services for faster and more efficient delivery of parcels. On-demand delivery provides customers with the flexible option of getting packages delivered at their convenient time and place. This service can also be integrated with point-of-sale systems and e-commerce platforms, which enables courier companies to efficiently manage their operations and thus is a cheaper, faster, and more reliable mode of parcel delivery. For instance, UberRUSH is an on-demand courier delivery service operating in New York, Chicago, and San Francisco. On-demand delivery services are being widely used for prescription medicine, laundry pickup and delivery, fast food delivery, and marijuana delivery. Major on-demand delivery service providers include Postmates, Deliv, Sidecar, and Amazon Flex in the USA; PiggyBaggy in Finland; and Nimber in Norway.
Major companies in the general transport services market are developing integrated solutions to gain a competitive advantage by offering seamless and end-to-end transportation and logistics services to customers. Integrated Solution is a high-performance end-to-end transportation planning, settlement, and execution platform powered by advanced analytics to unlock logistics excellence and financial efficiency. For instance, in September 2023, 3SC Solutions, an India-based provider of supply chain solutions, launched iTMS (Intelligent Transport Management Solution). iTMS is an integrated transportation management solution that uses artificial intelligence and data analytics to combine the details of the entire logistics transportation lifecycle. 3SC Solutions has introduced a system that will revolutionize supply chain management.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Amazon.com Inc., United States Postal Service, United Parcel Service Inc., Deutsche Post AG, FedEx Corporation, Japan Post Holdings Company Ltd., Le Groupe La Poste, Royal Mail Group Limited, SF Express Co. Ltd., Canada Post Corporation, DHL International GmbH, Kuehne Nagel International AG, DB Schenker, Agility Logistics, Expeditors International of Washington Inc., BDP International Inc., CEVA Logistics, Damco International BV, DSV A/S, Geodis, Hellmann Worldwide Logistics SE & Co. KG, J.B. Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Landstar System Inc., Old Dominion Freight Line Inc., Ryder System Inc., Schneider National Inc., Swift Transportation, TFI International Inc., Werner Enterprises Inc., XPO Inc., Matson Inc., Crowley Maritime Corporation, Hapag-Lloyd AG, Mediterranean Shipping Company SA, Nippon Yusen Kabushiki Kaisha.
General Transport Market 2024 Key Insights:
• The general transport market size is expected to see strong growth in the next few years. It will grow to $3604.98 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• Expanding Horizons On-Demand Parcel Delivery Services Redefining The Logistics Landscape
• 3SC Solutions' Itms Transforms Supply Chain Management With Integrated Transportation Solutions
• Western Europe was the largest region in the general transport services market in 2023
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