Albany, New York, October 31, 2017:The Freight Brokering Industry, in which freight brokers match shippers to the carriers, has been around for quite a while now. However, emergence of digital freight broker companies in the recent past have revolutionized the industry.
Currently, the competition in the relatively new digital freight brokerage market is moderate. However, in the years ahead, the competition will likely intensify on account of the foray of numerous solution providers.
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Serving to boost the global digital freight brokerage market is the rising uptake of sophisticated smartphones, improved wireless connectivity, and advantages accorded by digital platforms such as better efficiency and reduced costs. This helps to save time and the brokerage money too. In the traditional freight brokerage market, carriers and the loads are forced to remain idle till the deal is finalized by brokers through phone or mail.
A noticeable trend in the global digital freight brokerage market is the technological progress. However, a drawback is the upfront capital required for building the software. Once the company is up and running, there are some logistic hurdles to overcome as well.
Being in a nascent state, the growth prospects in the global digital freight brokerage market is high. A research study by Transparency Market Research projects the market to expand at a mind-boggling 61.7% CAGR during the period between 2017 and 2025. Expanding at this pace, it will likely attain a value of US$10,964.3 mn by 2025 from US$144.5 mn.
The market overview section of the report showcases the market dynamics and trends which includes drivers, restraints, opportunities that influence the current nature and future status of this market. It also provides an overview about the key market indicators given across the five geographical regions. Under the key strategies adopted by carriers section, strategies adopted by traditional 3PLs and carriers to cope up with technology platforms are described. Under the porter’s five forces analysis section, a brief analysis of the level of competition within the digital freight brokerage industry is given and business strategy is provided in order to determine the competitive attractiveness and intensity of the digital freight brokerage market. The report also includes key industry developments covering significant advances made by leading market players over the period of time.
Global Digital Freight Brokerage Market: Competitive Landscape
The report provides competitive landscape of the digital freight brokerage market, thereby listing out all the major players according to their geographic presence, market attractiveness and recent key developments. The competitive landscape section of the report gives an overview about the market share of several key players for the year 2016. The digital freight brokerage market data estimates are the result of our in-depth secondary research, primary interviews and in-house expert panel reviews.
These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the market growth. Factors including market position, offerings and R&D focus are attributed to company’s capabilities. This section also identifies and includes various recent developments carried out by the leading players. Moreover, key takeaways section provided at the end of competitive landscape section would help the operating companies to make the best move in the market.
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On the basis of transportation mode, the market has been divided into roadway, seaway, airway and railway. Owing to growth in adoption of applications by trucking industry, roadway segment is expected to show significant CAGR over the forecast period and projected to attribute to the highest revenue for the market in 2025. In terms of industry vertical, the market has been segmented into food & beverages, automotive, retail & e-commerce, healthcare, manufacturing and others. The others segment of industry vertical primarily consist of aerospace & defense industry.
The Digital Freight Brokerage market has been segmented as below:
The Digital Freight Brokerage Market, By Transportation mode
The Digital Freight Brokerage Market, By Industry Vertical
- Food & beverages
- Retail & E-commerce
- Other(aerospace & defense)
The Digital Freight Brokerage Analysis, By Country/Region
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
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