Pune, 24, Nov 2022: As per Maximize Market research, a global business research and consultancy firm, the total global market for Freight Transportation Management Market was USD 24.42 Bn. in 2021 and is expected to grow at a CAGR of 10.5 % over the forecast period to reach USD 27.50 Bn. by 2029.
Freight Transportation Management Market Scope and Research Methodology
The Freight Transportation Management market is segmented based on Transportation Mode, Deployment Mode, Industry, and Geography. The growth of various segments helps our clients in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The research study provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.
Bottom-up approaches are used to estimate the Freight Transportation Management market size. Major Key Players in the Freight Transportation Management market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research involved a study of the top manufacturers’ annual and financial reports, while primary research was done through interviews with key opinion leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives. The study gives insight into the growth dynamics of the Freight Transportation Management market in regions such as the Middle East and Africa, Asia Pacific, Europe, North America, and Latin America. The Freight Transportation Management market in the Asia Pacific region is currently the leading market in terms of size and contribution to the global Freight Transportation Management market.
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Freight Transportation Management Market Overview
Freight transport management includes developing several strategies to improve freight and commercial transportation efficiency. The freight transportation management market focuses on eliminating shipper costs while accounting for social costs such as congestion and pollution impacts. The global freight transportation management market is developing fast as a result of increased globalization, which is resulting in increased freight transportation. Companies are even launching new products to boost their market share.
Freight Transportation Management Market Dynamics
Railways are one of the most popular modes of transportation globally, with extensive infrastructure. The increased use of railways for transportation raises the demand for rail freight transportation management in the freight transportation management market. Freight and transportation service companies are increasingly challenged to maintain regular schedules as traffic volumes and congestion on roadways and waterways increase. This affects supply chains and businesses that depend on trucks, both of which are becoming increasingly important for both public and private sector operators. Furthermore, a number of road accidents can present an unexpected challenge to transportation systems. These criteria provide a big obstacle to the freight transportation management market.
The current technological impact of the new advanced era of information technology and communication innovations in the freight business is transforming it into a more modern freight service company. The global increase in transportation vehicular traffic along with a large increase in technology adaption indicates potential business opportunities for the freight transportation management market. Furthermore, environmental concerns, freight operations security and safety, and the need for operational efficiencies are expected to be significant drivers for the freight transportation management market.
Freight Transportation Management Market Regional Insights
North America dominated the freight transportation management market and is expected to grow at the highest CAGR during the forecast period. The United States is expected to make a significant contribution to this sector. The rise of the retail industry and the shift of many businesses to the online channel are attributed to driving the share. Rapid technological advancements have taken place in the IT and cloud computing industries. Which is expected to increase the market demand in this region.
Freight Transportation Management Market Segmentation
By Transportation Mode:
By Deployment Mode:
Freight Transportation Management Market Key Competitors:
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Key questions answered in the Freight Transportation Management Market are:
Maximize Market Research is leading research firm, has also published the following reports:
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Cargo Transportation Insurance Market – The Cargo Transportation Insurance Market size is expected to reach USD 67.13 Bn. by 2029 at a CAGR of 3 percent during the forecast period. The increasing demand and awareness about cargo insurance among transport proprietors is a key factor that drives the growth of the Cargo Transportation Insurance Market.
Rail Transportation Market – Rail Transportation Market was valued at US$ 24.09 Bn. in 2021 and the total revenue is expected to grow at 4.5% of CAGR through 2022 to 2029, reaching nearly US$ 34.26 Bn. Long term, operators may increase investment in infrastructure and service quality in the rail transportation market. This will very likely demand investments in high-density, high-speed, and high-frequency networks. This involves boosting capacity and service levels through capital expenditures in rolling stock, infrastructure, and digital technology in the rail transportation market.
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