Freight Brokerage Market Size, Share, Growth Analysis, By Customer Type(Business to Business (B2B), Business to Customer (B2C)), By Services(Intermodal, Full Truckload, Less Than Truckload), By Mode of Transport(Waterways, Roadways, Others), By End Use Industry(Retail, E-Commerce, Manufacturing, Healthcare), By Region - Industry Forecast 2024-2031

Freight Brokerage Market Drivers

• Increasing adoption of freight brokerage services

Delivering goods on schedule and lowering transportation costs present challenges for logistics service providers looking to boost revenue. There are more orders that need to be delivered quickly, which gives logistics companies the chance to adopt a multi-modal transportation system to boost supply chain effectiveness. The companies that offer freight brokerage services have extensive multi-modal transportation networks with expertise in various kinds of machinery. Freight brokers offer their clients the greatest transportation options available when their shipping needs change. Because it combines the most effective set of modes of transportation, multimodal transportation has the benefit of lowering freight costs. As an illustration, APL Logistics offers its clients the ShipMax service. Customers can benefit from increased load utilization and delivery optimization, as well as pairing with relevant trucking partners, allowing them to make the most of their transportation budget. Therefore, the leading players operating in the freight brokerage market have exponential development prospects due to the cost savings and lead time reduction provided by the adoption of a multi-modal system.

Freight Brokerage Market Restraints

• In many aspects, DTC e-commerce improves the efficiency of shipping and other services. The usage of domestic freight forwarders facilitates communication in general. Shipping process visibility is improved for shippers thanks to on-demand tracking, which enables freight forwarders to monitor shipments in real-time. Data may now be accessed at all stages of the transportation process thanks to real-time data monitoring, potentially preventing thousands of errors from occurring in the first place. However, DTC logistics services do away with the necessity for an intermediary like freight brokers, enabling businesses to deal directly with clients. DTC logistics are therefore anticipated to restrain the expansion of the world market for freight brokerage throughout the forecast period.