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Key Trends Reshaping the Managed Transportation Services Market: RXO Launches AI-Powered Truck Check-In Technology For Warehouses And Distribution Centers Industry Transformation
Managed Transportation Services
Managed Transportation Services Market Size Growth Forecast: What to Expect by 2025?
The market size for managed transportation services has seen a quick expansion in the past few years. It is predicted to escalate from $13.03 billion in 2024 to $15.48 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.8%. The historic period growth can be tied back to the surge in e-commerce, increasing fuel costs, escalating management costs in transportation, the rising need for adjustable transportation solutions, and the expansion of transportation network optimization.
How Will the Managed Transportation Services Market Size Evolve and Grow by 2029?
In the forthcoming years, a rapid expansion is anticipated in the managed transportation services market size, which is projected to reach $30.45 billion in 2029, corresponding to a compound annual growth rate (CAGR) of 18.4%. The increments during the forecast period can be attributed to the burgeoning requirement for real-time freight monitoring, escalating demand for effective route planning solutions, and the increasing need for scalable transportation solutions. Additionally, hiking investments in digital transformation efforts and the rising necessity for improved customer service are also key factors. Significant trends during this period will include technological progression, the adoption of artificial intelligence and machine learning, real-time tracking, the growth of omnichannel logistics, and the integration of blockchain technology.
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What Drivers Are Propelling the Growth of Managed Transportation Services Market Forward?
The expansion of the manufacturing sector is anticipated to boost the managed transportation services market's growth in the future. The manufacturing sector is defined by industries and businesses that manufacture goods by converting raw materials, components, or parts into finished products through the use of machinery, tools, and labor. The growth in the manufacturing sector can be attributed to the implementation of automated systems and robotics, the establishment of global trade agreements, advancements in international relations, and the development of transportation infrastructures. Managed transportation services fortify the manufacturing sector by offering expertise, technology, and strategic solutions that help in optimizing transportation and logistics operations. Consequently, this results in cost-cutting, improved efficiency, better visibility, and enhanced risk management, contributing significantly to the overall success and competitiveness of manufacturing firms. For instance, in February 2023, Statistics Canada, a government organization based in Canada, reported a surge in sales by 17.9% in Canada's manufacturing sector, reaching $850.9 billion in 2022. Thus, the flourishing manufacturing sector is a primary driver for the expansion of the managed transportation services market.
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Which Emerging Trends Are Transforming the Managed Transportation Services Market in 2025?
Leading corporations in the managed transportation services sector are centering their efforts on the creation of cutting-edge technologies, like visual AI technology, to heighten the efficiency of logistic operations. This technology involves the use of artificial intelligence systems to process and decipher visual data from images or video, culminating in insightful extraction or autonomous task execution. As an illustration, in January 2024, RXO Inc., a company based in the U.S. focused on delivering transportation solutions, unveiled a truck check-in system powered by AI, aimed at warehouses and distribution centers. This unique technology employs sophisticated AI to automate the check-in process for trucks, leading to sizeable decreases in waiting times and a boost in operational efficiency. It incorporates functions such as real-time vehicle recognition, automated scheduling, and adaptive dock assignment to enhance the management of incoming and outgoing consignments. The system's design allows it to work well with current warehouse management software, leading to effortless data interchange and real-time updates regarding truck status.
What Are the Key Segments in the Managed Transportation Services Market?
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
1) By Planning and Optimization: Route Planning Or Load Optimization or Network Design and Optimization
2) By Execution and Operations: Freight Forwarding or Shipment Tracking Or Transportation Execution
3) By Freight Audit and Payment: Invoice Verification Or Payment Processing Or Freight Cost Auditing
4) By Reporting and Analytics: Performance Reporting or Data Analytics for Freight Movement or Real-Time Monitoring and Reporting
5) By Consulting Services: Supply Chain Optimization or Transportation Strategy Consulting or Regulatory Compliance Consulting
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Who Are the Key Players Shaping the Managed Transportation Services Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Managed Transportation Services Market?
Asia-Pacific was the largest region in the managed transportation services market in 2023. The regions covered in the managed transportation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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