The global digital freight management market is expected to reach US$ 14.0835 Billion in 2022 and is projected to grow at a CAGR of 9.4% to reach US$ 34.56 Billion by 2032. The growing adoption of IoT and communication technology is credited with growth. A CAGR of 8.9% was recorded for the market for digital freight management from 2016 to 2021.
Digital freight managements has risen the growth in many enterprises, by offering faster, more efficient, and flexibility for enterprises. Digital freight managements is implemented in transport businesses to optimize the efficiency of commercial freight operations. Freight operation information system offers various features such as vehicle maintenance and repairs, freight tracking system, customer Electronic Data Interchange (EDI) interfacing, comprehensive operational reporting and many others.
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Digital freight managements Market: Drivers and Challenges
The major driver for Digital freight managements is the growth of free trade policy for different countries is increasing the business of imports and export across the globe. Furthermore, the adoption of this software by many transport enterprises to improve their delivery capabilities. There is also rise in the demand of on- time delivery of products and raw materials that boosts the fleet owners to implement an efficient Digital freight management. In addition to that, another factor for the growth of the Digital freight managements market is increase in global trade.
In contrast to this, due to high cost associated with freight management solutions and lack of awareness regarding advanced freight management solutions restraining the Digital freight managements market growth.
Digital freight managements Market: key players
Some of the key players for Digital freight managements are Accenture, CEVA Logistics, CTSI – Global, Descartes System Group, DSV, High Jump Software, JDA Software Group, Inc., Manhattan Associates, United Parcel Service of North America, Inc.
Digital freight managements Market: Regional Overview
Digital freight managements market is currently dominated by North America region due to increase in adoption of Digital freight management tool in this region. Asia Pacific Digital freight managements Market is expected to have the highest growth rate during the forecast period due to wide adoption of Digital freight managements market. Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
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Key Segments Profiled in the Digital Freight Management Industry Survey
Digital Freight Management Market by Solutions:
- Digital Logistics Management System
- Digital Baggage and Cargo Screening System
- Digital Freight Operational Management System
- Digital Freight Security Monitoring System
Digital Freight Management Market by Technology:
- Digital Freight Surveillance Systems
- X-Ray Freight Management Systems
- Digital Freight Management Detectors and Radiations
Digital Freight Management Market by Services:
- Professional Digital Freight Management Services
- Digital Freight Management Support and Maintenance
- Digital Freight Management System Integration
Digital Freight Management Market by Region:
- North America Digital Freight Management Market
- Latin America Digital Freight Management Market
- Europe Digital Freight Management Market
- Asia Pacific Digital Freight Management Market
- Middle East and Africa Digital Freight Management Market
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