The digital freight brokerage market is poised to experience significant growth, reaching a value of approximately $ 21,355.49 million by 2026
NEW YORK, September 17, 2021 / PRNewswire / – Zion Market Research has released a new report titled “Digital Freight Brokerage Market by Type (Road, Sea, Air & Rail) and by Vertical (Food & Beverage, Automotive, Retail & E-Commerce, Healthcare, Manufacturing & Others)” [Defense, Aerospace, etc.]): Global Industry Outlook, Comprehensive Analysis and Forecast, 2017 – 2026 “. According to the report, the global digital freight brokerage market was valued at around $ 836.06 million in 2017 and should generate sales of around $ 21,355.49 million by the end of 2026, with a CAGR of over 43.0% between 2018 and 2026.
The digital freight broker is also referred to as the urbanization of trucking. Digitization is the latest craze in the logistics industry. The latest advancement in freight brokerage is the adoption of technically advanced applications. Growing technological innovation in supply chain and logistics is attracting the attention of the digital freight broker market. The proliferation of on-demand or application-based trucking providers is gaining a notable amount of investment and attention.
The digital freight brokerage market is segmented on the basis of type, vertical, and geography. Based on type, the digital freight brokerage market is categorized into roads, railways, seaways, and airways. By type, the road segment accounted for the highest share of the global digital freight management brokerage market in 2017 and is expected to remain dominant during the forecast period. To utilize cargo space and avoid high brokerage fees, the use of digital apps is increasing in the trucking industry. Road transport is a flexible mode of transporting goods nationwide, and therefore this segment has contributed the largest share of the global digital freight brokerage market. The Seaway segment is expected to register the highest CAGR from 2018-2026 in the global digital freight brokerage market.
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Food and beverage, retail and e-commerce, automotive, manufacturing, healthcare and others (defense, aerospace, etc.) are the major verticals in the global digital freight brokerage market. The retail and e-commerce segment accounted for the highest share of over 30% of the global digital freight brokerage market in 2017. Significant transportation of retail and e-commerce products is the factor key contributing to the high segment share 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 top regions during the forecast period. The growing adoption of digital freight brokerage in the retail, manufacturing, food and beverage, automotive and healthcare industries in North America and Europe is expected to drive market growth in the region. The Asia Pacific is expected to register a CAGR of over 45% in the global digital freight brokerage market. Developing countries such as India and China are promising markets due to the large population and increasing industrialization thus supporting the market growth in the Asia Pacific.
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Some of the major players in the digital freight brokerage market include Coyote Logistics, Echo Global Logistics Inc., Convoy, Transfix, LLC, Trucker Path Inc., Cargomatic Inc., Cargocentric Inc., JB Hunt Transport, Inc., TGMatrix Limited and Uber Freight.
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This report segments the global digital freight brokerage market as follows:
Global Digital Freight Brokerage Market: Type Segment Analysis
Global Digital Freight Brokerage Market: Vertical Segment Analysis
Global Digital Freight Brokerage Market: Regional Segment Analysis
The Middle East and Africa
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