Albany NY, United States, May 05, 2022 (GLOBE NEWSWIRE) — Analysts at TMR project the Digital Freight Brokerage Market to expand at a CAGR of 33% during the forecast period from 2020 to 2030. The extensive use of smartphones and mobile applications for efficient shipping and logistics operations fuels the growth of the digital freight brokerage market. Solutions in the digital freight brokerage market include mobile applications that enables shippers and carriers to interact directly and match their services for transportation and logistics.
The significant rise in volume of container shipping and air freight has led to rapid adoption of digital technologies in the transportation and logistics sector. Consistent efforts of air freight companies to address complexities in air freight management and improve various aspects of the value chain are compelling the need of third-party services, including digital freight brokerage.
Significant capital investments leading to increasing use of technology is favorable to the growth of the digital freight brokerage market. This is attracting a number of small-to-large scale digital freight brokerage companies to enter the fray.
The inclination of established transportation management companies to partner with digital freight brokers is creating new frontiers in the digital freight brokerage market. The announcement of partnership of Uber Freight and Cloud Logistics by E2open to provide added value, flexibility, and control of shipping logistics is a case at point. The move is expected to offer shippers transparency, and an exceptional degree of ease in the current fast-moving market.
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Digital Freight Brokerage Market – Key Findings of Report
- Considerable entry of startups that use novel technologies such as AI and ML to anticipate demand from shippers and carriers is likely to influence the growth of the digital freight brokerage market in the upcoming years. Increasing use of technology is helping to make operations from broker’s end automated and time-efficient, thereby stimulating the demand for digital freight brokerage solutions.
- Increasing focus on centralizing logistics processes and operations through mobile applications is expected to assist carriers to match services with shippers and streamline interaction with the same
- Roll out of value-added services on mobile platforms for digital freight brokerage attracts shippers and carriers to opt for digital solutions. For instance, value-added service enables real-time monitoring of shipment using an online freight application. Delivery photo, signed invoice for landing, and managing paperwork of delivery process with real-time tracking of shipments are some offerings of value-added services of digital freight brokerage solutions.
- Launch of new digital freight brokerage platforms is on the cards of large players in the digital freight brokerage market. For instance, Edge Logistics announced the launch of a digital freight matching platform that offers transparency in the brokerage’s private load board to carriers.
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Digital Freight Brokerage Market – Growth Drivers
- Substantial demand for digital freight brokerage platforms from large transportation carriers to improve reliability, flexibility, and performance of supply chains drives the digital freight brokerage market
- Rapid uptake of advanced technologies in the transportation and logistics sector for the tracking of assets and recording of transactions stimulates demand
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Digital Freight Brokerage Market – Key Players
Some of the key players operating in the digital freight brokerage market are;
- CH Robinson
- CEVA Logistics
- Coyoye Logistics LLC
- DB Schenker Logistics
- Echo Global Logistics
- JB Hunt Transport Inc.
- Kuehne + Nagel International AG
- Panalpina World Transport Ltd.
- uShip Inc.
- Cargocentric Inc.
- DAT Solutions LLC
- DHL International GmbH
- Cargomatic Inc.
- Kintetsu World Express
- Loadsmart inc.
- TGMatrix Limited
- Trucker Path Inc.
- Uber Freight
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The digital freight brokerage market is segmented as follows;
Digital Freight Brokerage Market, by Platform
- Specialized & Generic Marketplaces
- Crowd Shipping Platform
- Digital Freight Exchange
- Tender Platform
Digital Freight Brokerage Market, by Deployment
Digital Freight Brokerage Market, by Transportation Mode
Digital Freight Brokerage Market, by End User
- Digital/Virtual Forwarders
- Logistics Companies
Digital Freight Brokerage Market, by Region
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa (MEA)
- South America
- Rest of South America
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