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Pulished Date February, 2021
ID: 11180
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Global Digital Freight Forwarding Market - Segmentation By Components (Solutions, Services), Mode (Rail Freight, Road Freight, Ocean Freight, Air Freight), End User (Third-Party Logistics, Forwarders, Brokers, Shippers, Carriers) and Region –Industry Analysis and Growth Forecast to 2026

Pulished: February, 2021
ID: 11180
Pages: 150

Global Digital Freight Forwarding Market Size & Growth Analysis

The global digital freight forwarding market is supposed to record a CAGR of around 25% over the next few years.

Digital freight forwarders have included digital tools on their websites to make it easier for people to contact them. Most of them have online chats, for example, as well as contact information visible on their site and a presence on social media. It helps to improve the communication flow and to respond in a short time. On the other hand, reaching a traditional system to resolve some doubts can be a bit more complicated as most of them don't have such a big online presence and don't give their customers answers in a short time.

The global digital freight forwarding market is expected to witness tremendous growth during the forecast period (2021-2026), owing to technological transition and changing operational needs of organizations. Growth can be attributed to increased domestic and global trade, need for deliveries with time control and transport security, and the adoption of smart technologies such as the Internet of Things (IoT), artificial intelligence (AI) and big data analytics solutions.

Market growth and trends:

Growth of e-commerce driving the digital freight forwarding market

  • In 2019, global retail e-commerce sales amounted to around US $ 3.53 trillion and retail e-commerce revenues are estimated to grow even more at a faster rate in the coming years. Online shopping is one of the most popular online activities in the world, and domestic and cross-border e-commerce is booming in developing markets like China, India and Indonesia for this reason. This includes not only direct-to-consumer retail, but also shipments of electronics, pharmaceuticals and consumer packaged goods. With the rise of Internet access, even product manufacturers are gradually shifting from traditional freight to digital forwarding. The main benefits of digital freight forwarding include instant quotes, transparent pricing, carrier and rate comparison, easy tracking, documentation, and more.

Market Drivers and Restraints

The time, efficiency and accuracy of a delivery are the main parameters of efficient cargo operations in the global digital freight forwarding market. This can be accomplished with minimal human intervention and taking advantage of technologies that can be an asset for efficient operations. Big Data Analytics and other Enterprise Management Suites (ERP) can be used to manage many complex operations, reducing human labor and making you prone to miscalculations, inefficiencies, and delays in operations. In addition, there have been a number of innovations in the field of data analytics and ERP, which can also be useful for difficult industries such as freight forwarding operating across borders.

Due to their high initial capital expenditure (CAPEX), the high cost of sophisticated equipment, and the cost of software licensing, many small and medium freight forwarders cannot have digitization in their management system. Also, operating such sophisticated equipment and software requires skilled and expensive human resources, increasing the overall cost for these organizations. Even for large market players, who have the ability to digitize their operational management, they will have to work on cost sensitivity.

Market Segmentation:

The global digital freight forwarder market is segmented and sub-segmented into the following categories:

Global Digital Freight Forwarding Market - By Components

  • Solutions
  • Services

Global Digital Freight Forwarding Market - By Mode

  • Rail Freight
  • Road Freight
  • Ocean Freight
  • Air Freight

Of all these, the shipping category is expected to occupy the largest share of the market, as most of the world's trade is carried out by sea and ocean. However, the air cargo category is supposed to experience the fastest growth, which can be attributed to increased demand for fast delivery speed due to the growth of global e-commerce.

Global Digital Freight Forwarding Market - End User

  • Third-Party Logistics (3PL)
  • Forwarders
  • Brokers
  • Shippers
  • Carriers

The 3PL category is expected to occupy the largest size in the market, as 3PLs occupy an important position in the supply chain by integrating warehousing and transportation service operations, to meet customer requirements and in market conditions.

Regional Analysis:

Geographically, North America had the largest share of the global digital freight forwarding market in 2019. This is primarily attributed to the fact that the United States has traditionally been the world leader in international trade. Additionally, many of the industry participants are also from North America. The increasing use of internet is promoting the industry in the Asia Pacific. China, India and Australia are the main markets that will drive market growth in the APAC region.

Leading Company:

Flexport is believed to be the market leader in digital freight forwarding market

Flexport is a San Francisco-based digital freight and logistics platform. Founded in 2013, the company carries out approximately half of its activity in sea freight and the other half in air freight. After its Series C funding round in September 2017, Flexport was valued at $ 800 million. In 2018, the company received $ 100 million from SF Express, a leading courier company in China. This brought Flexport's total funding to $ 300 million and its valuation to over $1 billion.

The startup has a revenue rate of around $400 million and is growing steadily. It ships approximately 120,000 TEUs (20-foot equivalents) annually, focusing on the trans-Pacific trade routes, where its shipment volume is the 20th largest on the eastbound trans-Pacific route. It reached a turnover of $860 million in 2019 and has become the market leader in digital freight transport, providing high-quality logistics service with additional analytical reports.

Key Market Players

Some of the key market players are CH Robinson Worldwide, Inc., FedEx Corp., JB Hunt Transport Services Inc., Kuehne + Nagel International AG, Penske Truck Leasing Co. LP, United Parcel Service Inc., XPO Logistics Inc., TNT Logistics, Wilson Logistics Group, Nippon Express, Eagle Global Logistics, Maersk Logistics, DHL Danzas Air and Ocean, Schneider National, UTi Worldwide, NYK Logistics, Menlo Worldwide, APL Logistics, SembCorp Logistics (USA), BAX Global, Caterpillar Logistics and Panalpina.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Digital Freight Forwarding Market, By Component                    

                                6.1.1 Solutions 

                                6.1.2 Services   

                                6.1.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.4 Y-o-Y Growth Rate Analysis              

                                6.1.5 Market Attractiveness Index           

                6.2 Digital Freight Forwarding Market, By Mode                

                                6.2.1 Rail Freight             

                                6.2.2 Road Freight          

                                6.2.3 Ocean Freight        

                                6.2.4 Air Freight

                                6.2.5 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.6 Y-o-Y Growth Rate Analysis              

                                6.2.7 Market Attractiveness Index           

                6.3 Digital Freight Forwarding Market, By End-User                         

                                6.3.1 Third-Party Logistics            

                                6.3.2 Forwarders             

                                6.3.3 Brokers    

                                6.3.4 Shippers  

                                6.3.5 Carriers    

                                6.3.6 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.7 Y-o-Y Growth Rate Analysis              

                                6.3.8 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Component      

                                7.2.3 By Mode  

                                7.2.4 By End-User           

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Component      

                                7.3.3 By Mode  

                                7.3.4 By End-User           

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Component      

                                7.4.3 By Mode  

                                7.4.4 By End-User           

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Component      

                                7.5.3 By Mode  

                                7.5.4 By End-User           

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Component      

                                7.6.3 By Mode  

                                7.6.4 By End-User           

8. Key Player Analysis                                    

                8.1 FedEx Corp                 

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 CH Robinson Worldwide, Inc               

                8.3 JB Hunt Transport Services Inc                            

                8.4 Kuehne + Nagel International AG                      

                8.5 Penske Truck Leasing Co. LP                

                8.6 United Parcel Service Inc                      

                8.7 XPO Logistics Inc.                     

                8.8 TNT Logistics                              

                8.9 Wilson Logistics Group                          

                8.10 Caterpillar Logistics                               

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Components, Mode, End-User along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Europe Digital Freight Forwarding Market By Component, From 2021-2026 ( USD Billion )
  2. Europe Solutions Market By Region, From 2021-2026 ( USD Billion )
  3. Europe Services Market By Region, From 2021-2026 ( USD Billion )
  4. Europe Digital Freight Forwarding Market By Mode, From 2021-2026 ( USD Billion )
  5. Europe Rail Freight Market By Region, From 2021-2026 ( USD Billion )
  6. Europe Road Freight Market By Region, From 2021-2026 ( USD Billion )
  7. Europe Ocean Freight Market By Region, From 2021-2026 ( USD Billion )
  8. Europe Air Freight Market By Region, From 2021-2026 ( USD Billion )
  9. Europe Digital Freight Forwarding Market By End-User, From 2021-2026 ( USD Billion )
  10. Europe Third-Party Logistics Market By Region, From 2021-2026 ( USD Billion )
  11. Europe Forwarders Market By Region, From 2021-2026 ( USD Billion )
  12. Europe Brokers Market By Region, From 2021-2026 ( USD Billion )
  13. Europe Shippers Market By Region, From 2021-2026 ( USD Billion )
  14. Europe Carriers Market By Region, From 2021-2026 ( USD Billion )
  15. U.K. Digital Freight Forwarding Market By Component, From 2021-2026 ( USD Billion )
  16. U.K. Digital Freight Forwarding Market By Mode, From 2021-2026 ( USD Billion )
  17. U.K. Digital Freight Forwarding Market By End-User, From 2021-2026 ( USD Billion )
  18. Germany Digital Freight Forwarding Market By Component, From 2021-2026 ( USD Billion )
  19. Germany Digital Freight Forwarding Market By Mode, From 2021-2026 ( USD Billion )
  20. Germany Digital Freight Forwarding Market By End-User, From 2021-2026 ( USD Billion )
  21. France Digital Freight Forwarding Market By Component, From 2021-2026 ( USD Billion )
  22. France Digital Freight Forwarding Market By Mode, From 2021-2026 ( USD Billion )
  23. France Digital Freight Forwarding Market By End-User, From 2021-2026 ( USD Billion )
  24. Italy Digital Freight Forwarding Market By Component, From 2021-2026 ( USD Billion )
  25. Italy Digital Freight Forwarding Market By Mode, From 2021-2026 ( USD Billion )
  26. Italy Digital Freight Forwarding Market By End-User, From 2021-2026 ( USD Billion )
  27. Spain Digital Freight Forwarding Market By Component, From 2021-2026 ( USD Billion )
  28. Spain Digital Freight Forwarding Market By Mode, From 2021-2026 ( USD Billion )
  29. Spain Digital Freight Forwarding Market By End-User, From 2021-2026 ( USD Billion )

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