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Digital Freight Forwarding Market Is Likely to Experience a Tremendous Growth in Near Future [PROFIT] | APL Logistics, BAX Global

The global digital freight forwarding market revenue is forecast to reach US$ 22.90 billion in 2030, growing at a compound annual growth rate (CAGR) of 23% during the forecast period from 2022-2030.

 

Digital Freight Forwarding report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Digital Freight Forwarding by region.

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The global digital freight forwarding market revenue was US$ 2.90 billion in 2020. The global digital freight forwarding market revenue is forecast to reach US$ 22.90 billion in 2030, growing at a compound annual growth rate (CAGR) of 23% during the forecast period from 2022-2030.

A digital freight forwarder uses digital tools to facilitate smooth communication flow and get shipment status updates as soon as possible. A digital freight forwarder provides a completely transparent system that allows customers to compare multiple shippers in order to get the best deal. The web platform enables easy access to stakeholders, enabling them to generate, upload, and share all documents, thus reducing the amount of paperwork.

Factors Influencing Market Growth

Factors such as the expansion of the e-commerce industry and the rise of free trade agreements are major contributors to the growth of the global digital freight forwarding market.

Lack of infrastructure & high logistics costs, and stringent regulations for air freight may slow down the global digital freight forwarding market growth.

The rise in direct-to-consumer (DTC) e-commerce logistics and reduction in lead time and cost due to multi-modal system adoption is forecast to open new growth opportunities for the global digital freight forwarding market over the forecast period.

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Impact Analysis of COVID-19

The COVID-19 had negatively impacted the global digital freight forwarding market, and it will remain in effect until the second quarter of 2021.

In the wake of COVID-19, governments implemented strict lockdown measures, resulting in flight cancellations and bans on e-commerce services, causing a massive decline in logistics activities across the globe.

As a result of the COVID-19 pandemic, huge supply-demand issues occurred, resulting in long delays in the activities of digital freight forwarding throughout the world.

Regional Insights

In 2020, North America held the largest share of the digital freight forwarding market. It is due primarily to the fact that the U.S. has traditionally led the world in international trade. Additionally, most of the industry participants hail from North America.

Asia Pacific (APAC) is forecast to grow at the fastest rate during the forecast period. The region has an increasing number of manufacturing bases and special economic zones (SEZ). China, India, and Australia are the major markets that will drive the Asia Pacific market growth.

Leading Competitors

The leading prominent companies profiled in the global digital freight forwarding market are:

APL Logistics

BAX Global

Caterpillar Logistics

CH Robinson Worldwide, Incorporated

DHL Danzas Air and Ocean

Eagle Global Logistics

FedEx Corporation

JB Hunt Transport Services Incorporated

Kuehne + Nagel International AG

Maersk Logistics

Menlo Worldwide

Nippon Express

NYK Logistics

Panalpina

Penske Truck Leasing Co. LP

Schneider National

SembCorp Logistics (USA)

TNT Logistics

United Parcel Service Incorporated

UTi Worldwide Incorporated

Wilson Logistics Group

XPO Logistics Incorporated

Other Prominent Players

Scope of the Report

The global digital freight forwarding market segmentation focuses on Modes of Transport, Function, Vertical, Deployment Mode, and Region.

Segmentation based on Modes of Transport

Air

Land

Sea

Segmentation based on Function

Warehouse Management

Transportation Management

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Segmentation based on Vertical

Automotive

Healthcare

Manufacturing

Retail and E-Commerce

Others

Segmentation based on Deployment Mode

Cloud

On Premises

Segmentation based on Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

What is the goal of the report?
? The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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