Press release
From USD 2.9B to USD 22.9B: Digital Freight Forwarding Market Booms as Logistics Turns Tech-First
Digital Freight Forwarding Market
According to a recent report published by Allied Market Research, titled, "Digital freight forwarding Market by Mode of Transport, Function, Vertical, and Deployment Mode: global opportunity analysis and industry forecast, 2021-2030," the global digital freight forwarding market was valued at $2.92 billion in 2020, and is projected to reach $22.92 billion by 2030, registering a CAGR of 23.1%.
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Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. U.S. dominated the global digital freight forwarding market in North America in 2020, owing to increase in import-export activities, technological developments by key players, and rapid adoption of innovative technologies in making faster & cost-effective shipment deliveries. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in industrial production and trade across different nations in the region along with implementation of favorable trade-centric regulations across the prominent countries such as China, India, and Japan.
Key players of the global digital freight forwarding market analyzed in the research include
Deutsche Post DHL Group,
Descartes Kontainers,
Flexport, Inc.,
iContainers,
Forto GmbH,
Kuehne+Nagel International AG,
Turvo Inc.,
Twill,
Transporteca,
Uber Freight LLC.
The report segments the global digital freight forwarding market on the basis of function, transport, deployment mode, vertical, and region.
Based on mode of transport, the sea segment contributed to the highest market share in 2020, attributing to nearly half of the total market share, and is anticipated to dominate the market during the forecast period. The segment is expected to manifest the fastest CAGR of 23.7% from 2021-2030. The report also covers segments such as land and air.
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Based on function, the transportation management segment contributed to the highest market share in 2020, attributing to more than three-fifths of the total market share, and is anticipated to lead during the forecast period. The segment is expected to manifest the fastest CAGR of 23.9% from 2021-2030. The report also analyzes the warehouse management segment.
Based on region, the Asia-Pacific, followed by North America, contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is expected to lead during the forecast period. The global digital freight forwarding market across this segment is anticipated to exhibit the fastest CAGR of 24.7% during the forecast period.
Key Findings Of The Study
By mode of transport, the sea segment is expected to register a significant growth during the forecast period.
On the basis of function, the transportation management segment is anticipated to exhibit significant growth in future.
By vertical, the retail and e-commerce segment is expected to register a significant growth during the forecast period.
Depending on deployment mode, the cloud segment is anticipated to exhibit significant growth in future.
Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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