Freight Management System Market Size, Share, Growth Analysis, By Component(Solution and Services), By End User(Third Party Logistics, Forwarders, Brokers, Shippers and Carriers), By Transportations Mode(Road Freight, Ocean Freight, Air Freight and Rail freight), By Region - Industry Forecast 2025-2032

Report ID: SQMIG20R2041 | Region: Global | Published Date: April, 2024
Pages: 207 | Tables: 89 | Figures: 72

Freight Management System Market News

In November 2023, MyDHLi Analytics, a cutting-edge freight management technology that provides real-time insights into shipment data, was introduced by DHL Global Forwarding. With the help of this platform, clients can make better decisions and have more visibility into the supply chain.

In March 2023, in order to minimize carbon emissions, Maersk introduced Maersk ECO Delivery, a sustainable freight management programme that maximizes vessel routes and operational effectiveness. Maersk's dedication to environmental sustainability in international logistics operations is emphasized by this breakthrough.

In June 2022, Navisphere Vision, an advanced freight visibility platform that uses AI and IoT technologies to provide real-time tracking and predictive analytics, was unveiled by C.H. Robinson. By improving efficiency and transparency throughout supply chains, our technology helps organizations all around the world reduce risk and make proactive decisions.

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Freight Management System Market size was valued at USD 25.5 billion in 2022, USD 28.08 million in 2023 and is projected to grow USD 55.18 billion by 2031, growing at a CAGR of 10.13% in the forecast period (2024-2031).

In order to extend their product lines, major market players are substantially investing in research and development, which will propel further growth in the goods management system market. In addition, market participants are engaging in a range of strategic endeavours aimed at broadening their market reach. Notable events in this regard include the introduction of new products, contractual agreements, mergers and acquisitions, increased investment levels, and cooperation with other entities. In order to grow and thrive in a more competitive and developing market environment, the goods management system sector needs to provide affordable products. 'MercuryGate (U.S.)', 'SAP (Germany)', 'Accenture (Ireland)', 'JDA Software (U.S.)', 'Ceva Logistics (Spain)', 'UPS (U.S.)', 'C.H. Robinson TMC (U.S.)', 'Riege Software (Germany)', 'Retrans (U.S.)', 'BluJay Solutions (U.K.)', 'McLeod Software (U.S.)', 'Linbis (U.S.)', 'DreamOrbit (India)', 'Manhattan Associates (U.S.)', 'Descartes, Magaya Corporation (U.S.)', 'ImageSoft (Australia)'

One of the main reasons driving the growth of the goods management systems market is the fact that some nations have implemented free trade policies, which has resulted in significant expansion in the import and export business. Numerous transportation businesses have enhanced their delivery capacities by implementing this technology, which has fuelled industry expansion. The market for goods management systems is being driven by the acceleration of international trade.

Rising Popularity of IoT in Every Market: Moving cargo via a network from its origin to its needed destination while utilizing a variety of transportation methods, middlemen, and technologies is known as freight management. Technology, supply chain and logistics tools, physical assets like distribution centers, transporters, and warehouses are all used in the process of transferring goods efficiently. Getting items delivered on time, to the right place, in the right quantity, undamaged, and for the best price has always been essential to business operations.

Due to the region's growing population and faster rates of goods transportation, the Asia Pacific goods management system market will dominate. Over the course of the projection period, this aspect supports the market's expansion. The second-largest market share is held by the goods management system market in Europe. As trade is increasing, cut down on time-in-transit and focus on supply chain visibility. Efficient goods movement is one of the most important aspects of an economy. Due to factors like growing globalization, population growth, and rising demand for products, shipping firms have been urged to select commodities management systems over the past ten years in order to maintain the security and effectiveness of their operations.

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