Market Size of Freight Transport Management Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| CAGR | 9.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Freight Transport Management Market Analysis
The Freight Transport Management Market is expected to register a CAGR of 9.8% over the forecast period. One major trend that has emerged in international freight transport in these challenging times is the increase in the number of freight trains between China and Europe.
- According to data from China Railway, the network recorded an 11% increase in the number of operating trains to 1,517 in July 2022 and the amount of delivered freight to 149,000 TEUs. The network has so far continued to run "1,000 trains every month" for 27 straight months. The volume of freight trains between China and Europe has been steadily increasing, which ensures the seamless operation of global supply and industrial chains. According to data from China Railway, a total of 8,990 China-Europe freight trains were run cumulatively from January to July 2022, delivering 869,000 TEUs, rising 3 and 4% annually, respectively.
- Further, Intermodal transportation is an emerging trend in the market that uses more than one mode of transportation. Due to globalization, companies are trading internationally, which requires safer, more flexible, and high-capacity transportation options.
- Improved operational efficiency in freight movement is critical to any country’s economy. The demand for goods and services is increasing with the increase in population and globalization. Many shipping companies opt for freight transport management solutions to overcome various environmental concerns and security aspects of their operations.
- Technological advancements have led to innovative ways of conceptualizing the process and developing new efficiencies. In the rising sectors, the emergence of information networks with quick contacts, transaction times, and more reliable shipments is projected to drive the freight transport market growth.
- A challenge for the freight transport market growth is the high complexity and inefficiency of shipping and delivering goods and controlling costs. Furthermore, the risk associated with cross-border transportation is projected to restrain the development of the freight transport market. However, transport management systems are evolving to fit the business needs of the logistics industry and address the existing challenges.
