ID: MRFR/ICT/7243-HCR | February 2021 | Region: Global | 141 pages
Freight management systems are used by third-party logistics providers, forwarders, brokers, shippers, and carriers. Companies use these systems for streamlining supply chain operations and increasing the efficiency of the shipping process and maintaining security. With the help of software technology, these companies can save on time and cost due to the full visibility offered by a freight management systems. The system allows these companies to book orders, find the best carrier rates, search all transportation modes, manage carriers’ negotiated rates, request and receive spot quotes and track shipments in real time. Today there is a number of freight management systems available in the market that can be deployed on-premise or on the cloud. The main factors which are driving the market are the growing global trade, the need to control the time-in-transit, and the growing need for supply chain visibility. Also, the adoption of technologies such as cloud computing and big data analytics integrated into the system by vendors is expected to witness a number of market opportunities. Green freight improves the real-world energy efficiency and environmental performance of freight systems which is expected to encourage vendors to invest in this opportunity. However, the congested trade routes can act as a restraining factor for this market.
Vendors operating in this market offer software and services for freight management system management. For instance, Kuebix TMS developed software that can also be deployed on the cloud. Similarly, Descartes Systems Group Inc. has developed a freight management system that can be easily integrated with other transportation management software. The software offered by the company is scalable and can be deployed over the cloud.
The Global Freight Management System Market is expected to expand at a 9.4% CAGR during the forecast period, to reach USD 18.63 Billion by 2025.
The Global Freight Management System Market has been segmented on the basis of Component, End-User, Transportation Mode, and Region.
Based on the component, the freight management system market has been segmented into solutions and services. The services segment has been categorized as consulting, system integration and deployment, support, and maintenance. The solution segment has been divided into planning, execution and operations, and control and monitoring. The planning solutions consist of supplier and vendor management, freight order management, revenue management, dispatch management, and claims management. The execution and operations solutions include electronic data interchange, load optimization, brokerage operational management, freight visibility, freight audit and payment, and transportation management system. Additionally, the control and monitoring solutions consist of freight tracking and monitoring solution, cargo routing and scheduling solution, and cargo security.
Based on end-user, the freight management system market has been segmented into third-party logistics, forwarders, brokers, shippers, and carriers. The demand from freight forwarding companies is growing at an exponential rate and the freight management system is the apt solution to efficiently helps them in their business operations.
Based on transportation mode, the freight management system market has been segmented into road freight, ocean freight, air freight, and rail freight. The ocean freight segment is expected to register the fastest growth rate.
Geographically, the global freight management system market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America leads the market in terms of market share in the freight management system market. Some of the factors that are responsible for the growth of the market include continuous investment and focus on freight automation. The presence of a number of software providers in the market such as Mcleod Software, Freightview, Freight Management, Linbis, Logisuite, JDA Software, Descartes, Oracle Corporation, Werner Enterprises, and MercuryGate is another factor that has contributed a significant share in North America freight management system market.
Europe has occupied the second position in the market. For the purpose of this study, Europe has been segmented into the UK, Germany, France, and the rest of Europe. According to MRFR analysis, the UK is expected to gain the highest market share, followed by Germany and France. The freight management system market in this region is expected to grow due to the rapidly increasing global trade and the need to control the time-in-transit.
The Key Players of the Global Freight Management System Market are Mcleod Software (US), Freightview (US), Freight Management (US), Linbis (US), Logisuite (US), Dreamorbit (India), Descartes (Canada), Oracle Corporation (US), Werner Enterprises (US), MercuryGate (US), SAP (Germany), Accenture (Ireland), JDA Software (US), Ceva Logistics (Spain) and UPS (US)
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
Europe, North America, Middle East, and Africa, South America as well as Asia Pacific are anticipated to note the market growth in the following years
The services-wise market segments are Support and Maintenance, System Integration and Deployment, Consulting, and others.
The rate at which the global market can progress in the years to come is 9.4%.
The market can reach a valuation of USD 18.63 Billion by 2025.
The significant players in the worldwide market are Accenture (Ireland), Freight Management (US), Linbis (US), MercuryGate (US), Dreamorbit (India), UPS (US), Freightview (US), Werner Enterprises (US), JDA Software (US), Logisuite (US), Descartes (Canada), Ceva Logistics (Spain), SAP (Germany), Mcleod Software (US), Oracle Corporation (US), and others.