Press release
Freight Transport Management Market Poised to Hit $46.99 Billion by 2029 with Accelerating Growth Trends
Freight Transport Management
Freight Transport Management Market Size Growth Forecast: What to Expect by 2025?
There has been a swift expansion in the freight transport management market in the last few years. The market, which is projected to increase from $27.28 billion in 2024 to $30.5 billion in 2025, is expected to experience a compound annual growth rate (CAGR) of 11.8%. This substantial growth in the previous years is a result of increased globalization, population growth, a surge in the demand for goods and services, the implementation of government policies that encourage global trade, and an escalation in freight transportation.
How Will the Freight Transport Management Market Size Evolve and Grow by 2029?
Rapid expansion is anticipated in the freight transport management market in the coming years, with projections suggesting that it will increase to $46.99 billion by 2029, with a compound annual growth rate (CAGR) of 11.4%. This considerable growth during the forecast period can be attributed to various factors such as the expansion of trade, the flourishing e-commerce sector, enhanced complexity in supply chains, increased demand for freight management solutions, and a surge in transport volumes. The forecast period will also witness key trends such as advancements in technology, a shift towards information technology, product innovation, investment in superior transport management solutions, and progress in freight transport management systems.
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What Drivers Are Propelling the Growth of Freight Transport Management Market Forward?
Expansion in the e-commerce industry is anticipated to enhance the freight transport management market's growth. E-commerce encompasses all transactions made over the internet, including retail sales, online auctions, digital downloads, and B2B trading. The upward trajectory of the e-commerce industry attributes to growing internet usage, improved mobile networks, consumer preferences for comfort, and the continuous advancement of online shopping platforms and technologies. Effective freight transport management is essential to ensure quick and effective product delivery, optimise logistical operations, reduce shipping expenses, and maintain customer satisfaction. For example, a U.S. Census Bureau report revealed that the US e-commerce sales for February 2024 amounted to nearly $1,118.7 billion, a 7.6% increase on the 2022 figures. E-commerce transactions comprised 15.4% of all 2023 sales, rising from 14.7% in 2022. Hence, the flourishing e-commerce industry is fuelling the growth of the freight transport management market.
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Which Emerging Trends Are Transforming the Freight Transport Management Market in 2025?
Leading enterprises in the freight transport management market are spearheading the creation of inventive software solutions, such as transport management software, to enhance service delivery through advanced functionalities. A transport management software (TMS) is a dedicated software setup employed by logistics and supply chain experts to strategize, implement and perfect the shipping of goods. To illustrate, in December 2022, WrxFlo, a supply chain software manufacturer based in Ireland, introduced the WrxFlo Transport Management System. This TMS solution is engineered to help businesses effectively handle the logistics affiliated with the land, air, or sea transport of physical goods. The comprehensive platform is pivotal for businesses looking to simplify operations by managing all transport-associated activities throughout their worldwide supply chain. With the WrxFlo TMS, transport operators are more adept at planning, instituting, and visualizing logistics plans in real time, leading to significant time and cost reductions.
What Are the Key Segments in the Freight Transport Management Market?
The freight transport management market covered in this report is segmented -
1) By Offering: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Application: Road Freight, Rail Freight, Air Freight, Ocean Freight
4) By End-User: Manufacturing, Retail, Healthcare, Oil And Gas, Food And Beverage, Other End Users
Subsegments:
1) By Solution: Fleet Management Software, Warehouse Management Systems (WMS), Transportation Management Systems (TMS), Supply Chain Visibility Solutions, Route Optimization Solutions, Freight Tracking Solutions, Load Optimization Solutions, Other Solutions
2) By Services: Consulting Services, System Integration Services, Training and Support Services, Managed Services, Maintenance Services, Other Services
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Who Are the Key Players Shaping the Freight Transport Management Market's Competitive Landscape?
Major companies operating in the freight transport management market are DHL International GmbH, Amazon Web Services Inc., CEVA Logistics, accenture* Plc, IBM Corporation, Oracle Corporation, DSV A/S, SAP SE, Union Pacific Corp., Cleveland-Cliffs Inc., Geodis SA, DB Schenker, Landstar System Inc., Korber AG, Fusion Transport, Universal Logistics Holdings Inc., Transportation Insight LLC, SEKO Logistics Ltd., Covenant, Manhattan Associates inc., Descartes Systems Group Inc., IBS Software, JDA Software Group Inc., CTSI-Global, HighJump Software LLC
What Geographic Markets Are Powering Growth in the Freight Transport Management Market?
North America was the largest region in the freight transport management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the freight transport management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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