Digital Freight Matching Market Size was valued at USD 28.6 Billion in 2022. The Digital Freight Matching market industry is projected to grow from USD 37.80 Billion in 2023 to USD 352.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 32.20% during the forecast period (2023 - 2032). Increased demand for real-time visibility and transparency in supply chain operations and the need for improved operational efficiency and cost-effectiveness in logistics are the key market drivers enhancing the market growth.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Automated freight matching is being driven by the rising demand for real-time visibility and transparency in supply chain operations. As businesses strive for greater efficiency, cost-effectiveness, and responsiveness in their logistics processes, DFM emerges as a solution that leverages technology to optimize freight matching and enhance overall supply chain visibility and performance.
Real-time visibility allows shippers and carriers to track the movement of goods and monitor various aspects of the supply chain, inclusive of inventory levels and transportation status. Automated freight matching leverages this data to efficiently match available carriers with shipments, optimizing routes and reducing idle time, ultimately leading to more efficient resource utilization. Transparency in supply chain operations minimizes uncertainties and delays. DFM platforms utilize real-time data to provide accurate and up-to-date information on the location and teh status of shipments. This reduces the chances of operational inefficiencies, such as late deliveries or missed connections, contributing to a smoother and more reliable supply chain. Real-time visibility enables stakeholders to make informed decisions based on current conditions. Digital freight matching platforms leverage this visibility to facilitate quick and data-driven decisions in selecting carriers, optimizing routes, and managing unexpected disruptions. This agility is crucial in the dynamic and fast-paced logistics environment. The demand for real-time visibility aligns with the expectations of customers who increasingly seek transparency in the movement of their goods. DFM platforms that provide accurate, real-time tracking information contribute to higher customer satisfaction by offering transparency and predictability in delivery timelines.
Visibility into the supply chain allows for better cost management. By leveraging Automated freight matching, companies can optimize routes, consolidate shipments, and make more informed decisions about transportation modes. This optimization contributes to cost savings, making the overall logistics process more economical. Real-time visibility enables supply chain stakeholders to adapt quickly to changes in market conditions, demand fluctuations, or unexpected disruptions. DFM platforms, by leveraging this visibility, facilitate the rapid adjustment of transportation plans and reallocation of resources to meet changing business requirements. The surging use of Internet of Things (IoT) devices and telematics in transportation provides real-time data on factors such as vehicle location, condition, and performance. Digital freight matching platforms integrate this data to enhance visibility, allowing for a more comprehensive understanding of the supply chain and enabling better decision-making. Thus driving the Digital Freight Matching market revenue.
The Digital Freight Matching Market segmentation, based on service, includes Freight Matching Services and Value-Added Services. The freight matching services segment dominates the market, accounting for the largest market revenue by leveraging advanced technology to connect shippers with carriers efficiently, streamlining the logistics process. These platforms utilize algorithms and machine learning to match available freight with suitable carriers based on various factors such as location, capacity, and delivery timelines, reducing empty miles and optimizing overall supply chain efficiency. The real-time visibility, cost-effectiveness, and enhanced communication offered by freight matching services position them as a transformative force in the logistics industry, attracting widespread adoption and market dominance.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
The Digital Freight Matching Market segmentation, based on platform, includes Web-Based and Mobile-Based. The mobile-based category dominates the market by providing real-time connectivity and accessibility to shippers and carriers. These platforms leverage mobile applications to streamline the freight matching process, allowing for instant communication and coordination between freight providers and those in need of transportation services. The convenience, efficiency, and agility offered by mobile-based solutions make them a preferred choice in the rapidly evolving landscape of Automated freight matching.
The Digital Freight Matching Market segmentation, based on industry, includes Food and beverages, Retail and e-commerce, Manufacturing, Oil and gas, Automotive, Healthcare, and Others. The food & beverages category dominates the market due to its reliance on efficient and timely transportation of perishable goods. Automated freight matching platforms offer real-time visibility, optimization, and automation, addressing the industry's need for precise and time-sensitive deliveries. By leveraging these platforms, the Food and beverages sector can enhance supply chain visibility, reduce costs, and streamline logistics operations, making it a key driver in the adoption and dominance of digital freight matching solutions. Further, retail & e-commerce are foreseen to experience the fastest growth due to rising access to the internet and smartphones.
By region, the study gives market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The North American Digital Freight Matching market area dominates this market, the region's vast and complex logistics network, where the demand for real-time visibility, cost efficiency, and streamlined freight operations has intensified. The growing e-commerce sector, increasing expectations for transparency in supply chains, and the need for agile and technologically advanced logistics solutions contribute to the expansion.
Further, the prime countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Digital Freight Matching market accounts for the second-largest market share due to the increasing emphasis on logistics efficiency, cost optimization, and sustainability, prompting a growing demand for technology solutions. Further, the German Digital Freight Matching market held the largest market revenue share, and the UK Digital Freight Matching market was the fastest-growing market in the European region.
The Asia-Pacific Digital Freight Matching Market is expected to grow at the fastest CAGR from the year 2023 to 2032. This is because of the region's rapid economic growth, increasing e-commerce activities, and a growing emphasis on logistics efficiency through technology adoption. Moreover, China’s Digital Freight Matching market held the largest market share, and the Indian Digital Freight Matching market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in the research and development in order to expand their product lines, which will help the Digital Freight Matching market grow even more. Market players are also undertaking a variety of strategic activities to spread their global footprint, with important market developments including mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Digital Freight Matching industry must offer cost-effective items.
Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the global Digital Freight Matching industry to benefit the clients and increase the market sector. In recent years, the Digital Freight Matching industry has offered some of the most significant advantages to the automotive industry. Major players in the Digital Freight Matching market, including Uber Freight, C.H. Robinson Worldwide, Inc., Redwood, XPO, Inc., Convoy, Inc., Freight Technologies Inc., Freight Tiger, Cargomatic Inc., Roper Technologies Inc., Loadsmart, and others, are trying to increase market demand by investing in the research and development operations.
C.H. Robinson is a global logistics and transportation services company headquartered in Eden Prairie, Minnesota. Established in 1905, the company has evolved into a key market players in the supply chain industry. C.H. Robinson operates as a third-party logistics (3PL) provider, offering a wider range of services, including freight transportation, logistics solutions, sourcing, and technology-driven supply chain management. With a vast network of carriers, suppliers, and customers, C.H. Robinson facilitates the movement of goods across various industries worldwide. The company leverages advanced technology platforms to enhance supply chain visibility, optimize routes, and provide real-time tracking, aligning with the evolving needs of the logistics industry. In 2022, C.H. Robinson and JDA Software announced a partnership to integrate C.H. Robinson's Freightquote platform with JDA's Transportation Management System (TMS). The partnership will enable shippers to book freight with C.H. Robinson seamlessly from within their JDA TMS.
E2open is a global supply chain management software and technology company that specializes in providing end-to-end visibility, collaboration, and optimization solutions. Headquartered in Austin, Texas, E2open offers a cloud-based platform that enables businesses to connect, analyze, and execute their supply chain processes in real time. The company's solutions encompass a wide range of capabilities, including supply chain planning, execution, and collaboration, allowing organizations to enhance operational efficiency and respond more effectively to market dynamics. E2open caters to various industries, such as manufacturing, retail, pharmaceuticals, and logistics, helping clients streamline their supply chain operations, minimized costs, and improve overall supply chain resilience. In 2023, E2open and Transplace announced a partnership to integrate E2open's Smart Global Network with Transplace's TMS. The partnership will enable shippers to access Transplace's extensive network of carriers and capacity through E2open's platform.
June 2023: Uber Freight announced a partnership with Transplace, a leading transportation management system (TMS) provider. The partnership will integrate Uber Freight's Automated freight matching platform with Transplace's TMS, giving shippers and carriers seamless access to a wider network of freight opportunities.
July 2023: Convoy announced a partnership with J.B. Hunt Transport Services, one of the biggest trucking companies in North America. The partnership will make J.B. Hunt's capacity available to Convoy's shippers, giving them access to a more reliable and efficient network of carriers.
August 2023: Loadsmart announced a partnership with CEVA Logistics, a global supply chain management company. The partnership will integrate Loadsmart's Automated freight matching platform with CEVA Logistics' transportation management system, giving CEVA's customers access to a wider network of freight opportunities.
Digital Freight Matching Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 28.6 Billion |
| Market Size 2023 | USD 37.80 Billion |
| Market Size 2032 | USD 352.7 Billion |
| Compound Annual Growth Rate (CAGR) | 32.30% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service, Platform, Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Uber Freight, C.H. Robinson Worldwide, Inc., Redwood, XPO, Inc., Convoy, Inc., Freight Technologies Inc., Freight Tiger, Cargomatic Inc., Roper Technologies Inc., Loadsmart |
| Key Market Opportunities | ·      Integration of blockchain technology to enhance transparency, security, and traceability throughout the supply chain. |
| Key Market Dynamics | ·      Increased demand for real-time visibility and transparency in supply chain operations. |
Frequently Asked Questions (FAQ) :
The Digital Freight Matching Market size was valued at USD 28.6 Billion in 2022.
The global market is foreseen to rise at a CAGR of 32.20% during the forecast period, 2023-2032.
North America had the biggest market share of the global market
The prime players in the market are Uber Freight, C.H. Robinson Worldwide, Inc., Redwood, XPO, Inc., Convoy, Inc., Freight Technologies Inc., Freight Tiger, Cargomatic Inc., Roper Technologies Inc., and Loadsmart.
The freight machining services category dominated the market in 2022.
Food & beverages had the biggest share of the global market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
