The freight transportation management market involves devising strategies to enhance the efficiency of commercial transport. It aims to optimize freight operations, minimizing shipper costs while addressing social concerns such as congestion and pollution. The substantial advantages of freight transportation management solutions are driving heightened demand. Escalating globalization results in increased freight transportation, propelling the global market's rapid growth. As companies seek to streamline logistics, technology-driven solutions gain prominence. The market's evolution hinges on providing comprehensive strategies that balance economic and environmental considerations.
According to Data Bridge Market Research, the Global Freight Transportation Management Market is expected to reach a value of USD 41,547.44 million by 2029, at a CAGR of 8.1% during the forecast period of 2022 to 2029.
“Increasing demand for rail freight transports serves to facilitate market growth”
The increasing demand for rail freight transports serves as a driving force for the freight transportation management market. Rail transport offers numerous benefits, including cost-efficiency, environmental sustainability, and capacity for large-volume cargo. This surge in demand necessitates sophisticated transportation management solutions to optimize routes, schedules, and cargo handling. The growth of rail freight presents opportunities for technology-driven systems that enhance operational visibility, track shipments, and streamline processes. As rail gains prominence in the freight landscape, effective transportation management becomes crucial, propelling the market forward by addressing the unique challenges and requirements of rail-based logistics.
What restraints the growth of the global freight transportation management market?
“Government restrictions and regulations”
Government restrictions and regulations on trade can act as significant restraints on the freight transportation management market. These regulations encompass various aspects, such as customs procedures, tariffs, import/export quotas, and compliance standards. They can create complex administrative procedures, delays in cargo movement, and increased costs. Additionally, geopolitical tensions and changes in trade agreements can lead to uncertainty, impacting supply chain planning and execution. Such constraints hinder the smooth flow of goods, increase operational complexities, and impede efficient freight transportation management, ultimately affecting the market's growth and dynamics.
Segmentation: Global Freight Transportation Management Market
The freight transportation management market is segmented on the basis of transportation mode, offering, deployment mode, organization size, and industry.
- On the basis of transportation mode, the global freight transportation management market is segmented into roadways, railways, marine, and airways.
- On the basis of offering, the global freight transportation management market has been segmented into solutions and services.
- On the basis of deployment mode, the global freight transportation management market has been segmented into cloud or hosted and on premise.
- On the basis of organization size, the global freight transportation management market has been segmented into large enterprises and SMES.
- On the basis of industry, the global freight transportation management market has been segmented into manufacturing, retail and e-commerce, transportation, fast moving consumer goods (FMCG), healthcare, food and beverages, oil and gas, energy and utility, electronics, automotive, IT and telecom and others.
Regional Insights: Europe dominates the Global Freight Transportation Management Market
Europe is poised to lead the freight transportation management market, anticipated to witness rapid growth globally. With its extensive transport networks, Europe is expected to outpace other regions. Notably, Germany, commanding a significant 22.74% share, plays a pivotal role. Given Europe's status as a manufacturing hub and home to key industry players, effective transportation management becomes paramount. The region's central location for global transport routes further accentuates its importance. As a result, Europe's freight transportation management market is projected to experience unprecedented expansion, driven by the necessity to efficiently handle the substantial transportation demands of diverse industries.
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Recent Developments in the Global Freight Transportation Management Market
- In March 2021, SAP SE unveiled a strategic collaboration with Sedna Systems. This partnership focuses on integrating SAP TMS with Sedna Systems' team collaboration and e-mail management solution. By combining these technologies, customers can achieve comprehensive control over transportation management data. This move positions SAP to strengthen its market presence by offering enhanced solutions for efficient transportation data handling.
- In February 2022, Oracle made significant strides by introducing advanced logistics management capabilities to its Oracle Fusion Cloud Supply Chain and Manufacturing (SCM). Through updates to Oracle Fusion Cloud Transportation Management, organizations can mitigate costs, manage risks, enhance customer experiences, and bolster adaptability to business disruptions. This development positions Oracle to attract a broader customer base by offering comprehensive solutions to address evolving supply chain challenges.
The Prominent Key Players Operating in the Global Freight Transportation Management Market Include:
- CTSI-GLOBAL (U.S.)
- GEODIS (France)
- THE DESCARTES SYSTEMS GROUP INC (Canada)
- Manhattan Associates (U.S.)
- Transplace (U.S.)
- Softeon (U.S.)
- GlobalTranz (U.S.)
- Oracle (U.S.)
- SAP SE (Germany)
- Accenture (Ireland)
- Blue Yonder Group, Inc. (formerly JDA Software): (U.S.)
- E2open, LLC (U.S.)
- Trimble Inc. (U.S.)
- DSV (Denmark)
- Werner Enterprises (U.S.)
- Supply Chain Solutions (U.S.)
- C.H. Robinson Worldwide, Inc. (U.S.)
- TRANSPOREON GmbH (Germany)
- MercuryGate (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global freight transportation management market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Freight Transportation Management Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
