Zion Market Research has published a new report titled “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”. According to the report, global digital freight brokerage market was valued at approximately USD 836.06 million in 2017 and is 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 as urbanization of trucking. The digitalization is the latest craze in the logistics industry. The latest advancement in freight brokerage is the adoption of technically advanced apps. The increasing technological innovation in supply chain and logistics are gaining the attention of digital freight brokers market. The proliferation of on-demand or app-based trucking providers is gaining a noteworthy amount of investment and attention.
The digital freight brokerage market is segmented on the basis of type, vertical, and by geography. Based on the type, the digital freight brokerage market is categorized into roadway, railway, seaway, and airway. By type, the roadway segment accounted for highest share in the global digital freight management brokerage market in 2017 and is expected to remain dominant over the forecast period. To utilize cargo space and avoid hefty brokerage fees, the uses of digital applications are increasing in the trucking industry. Road shipping is a flexible mode of transport of goods nationwide, and thus this segment contributed the highest share in the global digital freight brokerage market. The seaway segment is anticipated to register highest CAGR from 2018 to 2026 in the global digital freight brokerage market.
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Food and beverages, retail & e-commerce, automotive, manufacturing, healthcare, and others (defense, aerospace, etc.) are the key industry verticals of the global digital freight brokerage market. The retail & e-commerce segment accounted for the highest share of more than 30% in the global digital freight brokerage market in 2017. The large transportation of retail & e-commerce products is the key factor contributing towards the high share of segment in the global digital freight brokerage market.
North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa are the key regional segments of the global digital freight brokerage market. North America and Europe are expected to remain the foremost regions over the forecast period. The rising adoption of digital freight brokerage in retail, manufacturing, food and beverages, automotive, and healthcare industry in North America and Europe is expected to boost the growth of the market in the region. The Asia Pacific is expected to register a CAGR of more than 45% in the global digital freight brokerage market. Developing nations such as India and China are promising markets owing to the large population base and the growing industrialization thus supporting the growth of the market in the Asia Pacific.
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Some of the key players in digital freight brokerage market include 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.
