The Global Freight Management System Market Share is expected to reach USD 84.9 Billion by 2027, registering a CAGR of 8.2% during the forecast period, 2021–2027. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.
Globalization of trade and commerce and the ever-increasing customer demand driving innovation at a rapid pace and low cost are the main factors positively impacting the market. The freight shipping, forwarding, and third-party logistics companies are facing a growing need for efficient, easy-to-use, and flexible freight management software. The software is needed to manage their day to day operations and business deals effectively.
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The global freight management system industry has been segmented on the basis of components, end-user, and transportation mode.
Based on the component, the global freight management system market has been segmented into solutions and services. The services segment has been further categorized as consulting, system integration and deployment, support, and maintenance. The solution segment has been further divided into planning, execution and operations, and control and monitoring.
Based on end-user, the global freight management system market has been segmented into brokers, third-party logistics, forwarders, shippers, and carriers. The demand from freight forwarding companies is growing significantly, and the freight management system is the apt solution to capably helps them in their business operations.
Based on transportation mode, the global freight management system market has been segmented into road freight, ocean freight, air freight, and rail freight. The ocean freight segment is anticipated to register the fastest growth rate.
The Key Players of the Global Freight Management System Market are MercuryGate (US), SAP (Germany), Accenture (Ireland), JDA Software (US), Ceva Logistics (Spain), UPS (US), Freight Management (US), Linbis (US), Logisuite (US), Dreamorbit (India), Descartes (Canada), Oracle Corporation (US), Werner Enterprises (US), Mcleod Software (US), and Freightview (US).
The regional analysis for the global freight management system has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. The market in North America accounted for the largest market share in 2018, and it is expected to register strong growth during the forecast period.
The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. This growth can be attributed to the growing digital transformation and adoption of new technology. Increasing demand for reducing overall time and cost for the freight management process, among enterprises is one of the key reasons driving the growth of the market.
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