Global Freight Management System Market: Global Industry Analysis and Forecast
Posted: Jun 09, 2019
Global Freight Management System Market is likely to grow at CAGR of around 12% and will exceed over US$ 19.00 billion by 2024.
Global Freight Management System MarketFreight Management System is segmented by component, by transportation, end user and region. Based on the component market is splits into solution and service. End users are classified into Third-Party Logistics (3PLs), Forwarders, Brokers, Shippers, and Carriers. Transportation mode is sub-segmented into Rail Freight, Road Freight, Ocean Freight, and Air Freight. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Freight management systems help to easily operate the commercial freight transactions in the transport business. These systems also help in data entry and reducing errors while entering the freight data. Freight management systems are majorly used for freight tracking system, vehicle maintenance and repairs, consistent auto consignment pricing pallet tracking, drivers and subcontractors rating and payments, POD scanning, customer EDI interfacing, consignment entry, and comprehensive operational reporting.
Based on Component, Freight execution and operation solutions market segment is expected to have the highest market due to increasing demand for information tracking, freight visibility, easy payments and audit of the freight, and managing the transporting goods through the proper software. The advantages of execution and operation solutions, such as interchange of information, and the tracking process involved between supplier and purchaser also drive the market for Freight execution and operation market through the forecast period.
On the basis of an end user, Third party logistics market segment is expected to grow at a high rate during the forecast period. The higher growth rate is due to the implementation of free trade policy by many of the countries throughout the world. Further, a rapid increase in the demand for on-time delivery of products and raw materials and increasing demand for warehouse efficiencies also drive the market for freight management systems in the third-party logistics market.
In terms of region, North America expected to have a larger market due to increasing acceptance of technology in the freight management solutions and presence of major freight solutions providers in the region. Asia-Pacific is expected to have higher growth rate through the forecast period due to the increased rate of goods movement, accordingly with the population increase.
Some of the key players operating in Freight Management System Market are Descartes, Oracle, Werner Enterprises, MercuryGate, SAP, Accenture, JDA Software, Ceva Logistics, UPS, DB Schenker, C.H. Robinson TMC, Riege Software, Retrans, BluJay Solutions, McLeod Software, FreightView, and Freight Management.
The scope of Global Freight Management System Market
Global Freight Management System Market, by Component
Global Freight Management System Market, by End-User
- Third-Party Logistics (3PLs)
Global Freight Management System Market, by Transportation Mode
- Rail Freight
- Road Freight
- Ocean Freight
- Air Freight
Global Freight Management System Market, by Region
- North America
- Middle East & Africa
- Latin America
Key players operating on Global Freight Management System Market
- Werner Enterprises
- JDA Software
- Ceva Logistics
- DB Schenker
- C.H. Robinson TMC
- Riege Software
- BluJay Solutions
- McLeod Software
- Freight Management.
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