Digital Freight Brokerage Market by Type (Roadway, Seaway, Airway, and Railway) and by Vertical (Food and Beverages, Automotive, Retail & E-commerce, Healthcare, Manufacturing, and Others [Defense, Aerospace, etc.]): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2026

Global digital freight brokerage market expected to generate revenue of around USD 21,355.49 million by end of 2026, growing at a CAGR of more than 43.0% between 2018 and 2026. The digital freight broker is also referred to as urbanization of trucking. The digitalization is the latest craze in the logistics industry.

24-Jul-2018 | Number of pages: 130 | Report Code: ZMR-3245 | Report Format : | Status : Published

Analysis

The digital freight broker is a web or mobile-based tool aimed to match the demand of carrier supply and shipper demand, in the form of apps. They act as the mediator between transport that takes the product to its destination and the manufacturer. 

Brokers need an easy-to-use, versatile, and fully-featured platform to bridge technology between a distribution/warehouse models and legacy order processing. The digital freight brokerage platform needs to evaluate outbound shipping orders and inbound procurement in order to recommend the best case routing solutions. The real-time shipment tracking and managed supply chain platform are expected to grow at a high pace in the coming years. 

The high demand for digitalization in freight management is also expected to propel the growth of digital freight brokerage market in the coming years. Just, in the U.S., about 33.8 million trucks are registered for business purposes and around 83% of goods are transported by truck at some point or another. The adoption of digital technology for freight management is helping a number of long-time freight brokers to reconsider their position in the industry, and enhancing their capability to keep up with advancing technologies to fulfill the demand of the customer. 

Global Digital Freight Brokerage Market

Based on the type, the digital freight brokerage market is segmented into roadway, seaway, railway, and airway. Based on vertical, the digital freight brokerage market is segmented into food and beverages, automotive, retail & e-commerce, manufacturing, healthcare, and others (defense, aerospace, etc.)

North America accounted for the highest share of the global market for digital freight brokerage in the 2017 and region is projected to continue with its regional supremacy over the forthcoming years as well. The growth of this regional market is attributed with a large number of digital freight brokers in the region, and strong IT infrastructure in the U.S. The Asia Pacific is projected to grow at a high CAGR due to rising adoption of smartphones, growing internet penetration, advantages of the digital platform, and improved wireless connectivity. Moreover, strong manufacturing base and growing industrialization are expected to significantly boost the growth of digital freight brokerage market over the forecast period. The growing economy of the region is also contributing towards the high growth of digital freight brokerage in the Asia Pacific over the coming years. 

Some of the key players in the digital freight brokerage market are Coyote Logistics, Echo Global Logistics Inc., Convoy, Transfix, LLC, Trucker Path Inc., Cargomatic Inc., Cargocentric Inc., J.B. Hunt Transport, Inc., TGMatrix Limited, and Uber Freight. Currently, the demand for digital freight brokerage is increasing to boost the productivity and decrease the loss of service; this is expected to propel the growth of digital freight brokerage market in the coming years. 


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