Press release
Managed Transportation Services Industry Expected to Reach $30.2 Billion by 2029 at 18.3% CAGR
Managed Transportation Services Market
Managed Transportation Services Market Value Projection: How Much Will the Market Size by 2025?
The market size of managed transportation services has seen substantial growth in the past few years. The sector, which was worth $13.03 billion in 2024, is projected to increase to $15.4 billion in 2025, recording a compound annual growth rate (CAGR) of 18.2%. This growth during the historical period can be associated with various factors including e-commerce expansion, escalating fuel prices, increased transportation management expenses, a heightened demand for adaptable transportation solutions, and advancements in transportation network optimization.
What Will Be the Market Growth Forecat for Managed Transportation Services in 2029?
The market size of managed transportation services is anticipated to experience speedy expansion in the impending years. It is projected to escalate to $30.2 billion in 2029, with a compound annual growth rate (CAGR) of 18.3%. This surge during the forecast span can be credited to an increased necessity for real-time freight visibility, a surge in need for proficient route planning solutions, amplified demand for adaptable transportation solutions, heightened investment in digital revolution initiatives, and increased need for superior customer service. Key trends expected during the forecast timeline consist of technological progress, application of artificial intelligence and machine learning, real-time monitoring, omnichannel logistics, and the inclusion of blockchain technology.
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What Are the Strategic Drivers Boosting Managed Transportation Services Market Performance?
The escalation of the manufacturing industry is anticipated to boost the expansion of the managed transportation services market in the future. This sector comprises industries and businesses that create goods by transforming raw materials, components, or parts into final products using machinery, tools, and physical labor. This growth of the manufacturing sector is attributed to the implementation of automation systems and robotics, worldwide trade pacts, improved global relations, and the progression of transportation infrastructure. Managed transportation services augment manufacturing by providing technical expertise, advanced solutions, and technology to optimize transportation and logistics operations. These services lead to cost reduction, improved efficiency, greater transparency, and superior risk containment, positively impacting the overall success and competitiveness of manufacturing enterprises. For instance, Statistics Canada, a Canada-based government body, reported in February 2023, that there was a 17.9% sales increase in Canada's manufacturing business, reaching $850.9 billion in 2022. Hence, the escalating manufacturing industry is fueling the expansion of the managed transportation services market.
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Which Managed Transportation Services Market Segment Is Projected to See the Fastest Growth?
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
Which Trends Are Opening New Opportunities in the Managed Transportation Services Market?
Key firms in the managed transportation services sector are leaning on the creation of innovative technologies like visual AI to enhance logistic operations. This technology is based on artificial intelligence systems that process and analyze visual information from pictures or videos to generate insights autonomously. One notable example is RXO Inc., a US-based transportation solutions organization, which unveiled an AI-supported truck check-in technology for distribution centers and warehouses in January 2024. This technology relies on sophisticated AI to automate the truck check-in process, considerably cutting delays and boosting operational efficiency. Features such as automated scheduling, real-time vehicle recognition, and dynamic dock assignment are included to streamline the movement of incoming and outgoing consignments. Moreover, the technology can interlink with current warehouse management software, ensuring smooth data exchange and real-time information on truck status.
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Who Are the Leaders in the 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
Which Regional Managed Transportation Services Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the managed transportation services market in 2024. 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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