A recent report by Allied Market Research has unveiled the transformative impact of digital freight forwarding on the global shipping industry. In 2020, the market generated $2.92 billion, and it is projected to soar to $22.92 billion by 2030, boasting a remarkable CAGR of 23.1%. This comprehensive analysis delves into the market’s size, prevailing and emerging trends, future estimations, and the key players driving this evolution.
The exponential growth of the e-commerce sector worldwide, coupled with an upsurge in free trade agreements, has been a driving force behind the global digital freight forwarding market’s expansion. However, challenges such as inadequate infrastructure, soaring logistics costs, and stringent air freight regulations have hindered its progress. Conversely, the adoption of direct-to-consumer (DTC) e-commerce logistics, along with cost reduction and improved lead times through multimodal systems, has created numerous opportunities in the market.
The outbreak of the COVID-19 pandemic prompted nations to impose stringent lockdown measures, leading to flight cancellations and a ban on e-commerce services. Consequently, the global logistics industry suffered a massive downturn. Supply-demand imbalances resulted in significant delays in digital freight forwarding operations worldwide.
The report meticulously segments the global digital freight forwarding industry based on function, transport, deployment mode, vertical, and region.
In terms of transport mode, the sea segment held the largest market share in 2020, accounting for nearly half of the total market share. It is projected to maintain its dominance throughout the forecast period, with an expected CAGR of 23.7% from 2021 to 2030. The report also covers the land and air segments.
Regarding function, the transportation management segment accounted for the highest market share in 2020, comprising over three-fifths of the total share. It is anticipated to continue leading during the forecast period, exhibiting the fastest CAGR of 23.9% from 2021 to 2030. The report also provides insights into the warehouse management segment.
Geographically, the Asia-Pacific region, followed by North America, commanded the largest share in 2020, representing approximately two-fifths of the total market. These regions are expected to maintain their leadership positions during the forecast period. The Asia-Pacific digital freight forwarding market is projected to witness the fastest CAGR of 24.7% over the forecast period.
The research identifies key players in the global digital freight forwarding market, including Deutsche Post DHL Group, Descartes Kontainers, Flexport, Inc., iContainers, Forto GmbH, Kuehne+Nagel International AG, Turvo Inc., Twill, Transporteca, and Uber Freight LLC. These industry leaders are at the forefront of revolutionizing the shipping industry through their innovative digital solutions.
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