Digital Freight Brokerage Market Trend, Share, Growth, Size and Forecast 2032

Digital Freight Brokerage Market

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.]), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast 2024-2032

Category: Technology & Media Report Format : PDF Pages: 206 Report Code: ZMR-3245 Published Date: May-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 3.47 Billion USD 37.45 Billion 30.36% 2023

 

Digital Freight Brokerage Market

Digital Freight Brokerage Market: Industry Prospective

The global Digital Freight Brokerage Market size accrued earnings worth approximately USD 3.47 Billion in 2023 and is predicted to gain revenue of about USD 37.45 Billion by 2032, is set to record a CAGR of nearly 30.36% over the period from 2024 to 2032.

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Digital Freight Brokerage Market Overview

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. 

In order to give the users of this report a comprehensive view of the digital freight brokerage market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein the type and vertical segments are benchmarked based on their market size, growth rate, and general attractiveness.

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Digital Freight Brokerage Market Growth Dynamics

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. 

The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, technology and regional expansion of major participants involved in the market on the global and regional basis. Moreover, the study covers price trend analysis, the product portfolio of various companies according to the region.

Digital Freight Brokerage Market: Report Scope

Report Attributes Report Details
Report Name Digital Freight Brokerage Market
Market Size in 2023 USD 3.47 Billion
Market Forecast in 2032 USD 37.45 Billion
Growth Rate CAGR of 30.36%
Number of Pages 206
Key Companies Covered Echo Global Logistics Inc., Coyote Logistics, Transfix, LLC, Convoy, Cargomatic Inc., Trucker Path Inc., J.B. Hunt Transport, Inc., Cargocentric Inc., Uber Freight and TGMatrix Limited.
Segments Covered By Type, By Vertical, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Digital Freight Brokerage Market Segmentation Analysis

The study provides a decisive view of the digital freight brokerage market by segmenting the market based on type, vertical, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on the type, the market is segmented into roadway, seaway, airway, and railway.

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

Regional Analysis:

North America accounted for the highest share of the global market for digital freight brokerage in the 2023 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. 

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with its further categorization into major countries including the U.S., U.K., Germany, France, Italy, Spain, China, Japan, India, Brazil, etc. This segmentation includes demand for digital freight brokerage market based on the individual type and verticals in all the regions and countries.

The report also includes detailed profiles of end players such as

  • Echo Global Logistics Inc.
  • Coyote Logistics
  • Transfix, LLC
  • Convoy
  • Cargomatic Inc.
  • Trucker Path Inc.
  • J.B. Hunt Transport, Inc.
  • Cargocentric Inc.
  • Uber Freight
  • TGMatrix Limited.

This report segments the global digital freight brokerage market as follows:

Global Digital Freight Brokerage Market: Type Segment Analysis

  • Roadway
  • Seaway
  • Airway
  • Railway 

Global Digital Freight Brokerage Market: vertical Segment Analysis

  • Food and Beverages
  • Automotive
  • Healthcare & e-commerce
  • Manufacturing
  • Others (Defense, Aerospace, etc.)

Global Digital Freight Brokerage Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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