Booming E-Commerce Sales Propelling Demand for Digital Freight Forwarding

With the burgeoning requirement for freight safety and time-controlled deliveries, surge in global and domestic trade, and increasing adoption of smart technologies such as artificial intelligence (AI), big data analytical solutions, and internet of things (IoT), the demand for digital freight forwarding is rising sharply across the world. Big data analytics and other enterprise management suites (ERP) are used for handling many complex tasks and operations, thereby recuing the dependency on human work, which often leads to operation delays, miscalculations, and inefficiencies. 

Digital Freight Forwarding Market

Moreover, with the growing demand for greater accuracy in product deliveries, shorter delivery time periods, and higher effectiveness of freight operations, the adoption of advanced technologies is surging in the industry. This is subsequently driving the growth of the global digital freight forwarding market. DHL International GmbH, J.B. Hunt Transport Services Inc., Schneider National, UTi Worldwide, C.H. Robinson Worldwide, Inc., and Descartes are some of the major digital freight forwarders across the world. These organizations are actively focusing on reducing the reliance of human workers for contacting carriers, scheduling deliveries, controlling fleet operations, and negotiating rates.

Across the world, the demand for digital freight forwarding solutions was the highest in North America in 2019, as per the findings of P&S Intelligence, a market research company based in India. This is ascribed to the fact that the U.S. is the global leader in international trade. Additionally, many digital freight forwarders are based out of North America. However, the digital freight forwarding market is also predicted to register the fastest growth in Asia-Pacific (APAC) in the upcoming years, because of the presence of special economic zones (SEZ) and the expansion of manufacturing bases in the region.

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Hence, it is safe to say that the demand for digital freight forwarding solutions will soar in the years to come, primarily because of the booming international and domestic trade and soaring e-commerce sales all over the world. 

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What are Main Factors Driving Growth of Global Digital Freight Forwarding Market?

Some of the major factors propelling the demand for digital freight forwarding solutions are the soaring volume of domestic and international trade and the increasing need for time-controlled deliveries across the world. In addition to this, there has been a massive rise in the incorporation of several advanced technologies such as artificial intelligence (AI), internet of things (IoT), and big data analytical solutions in digital freight solutions, which have significantly boosted the demand for digital freight forwarding solutions across the globe.

Due to the above-mentioned factors, the global digital freight forwarding market is predicted to exhibit substantial growth during the forecast period (2020–2030). Digital freight forwarding basically refers to the adoption of digital platforms in order to provide a much broader range of logistics services as compared to the traditionally adopted manually controlled logistics operations. Digital freight forwarding is commonly adopted by brokers, third-party logistics (3PLs) providers, shippers, forwarders, and carriers. Out of these, the 3PLs providers are expected to register the highest adoption of digital freight forwarding solutions in the near future, as they are an important cog in the supply chain machinery.

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Globally, North America observed the highest adoption of digital freight forwarding solutions in 2019. This is primarily ascribed to the fact that the U.S. is the undisputed global leader in international trade. In addition to this, the region is home to some of the major digital freight forwarders in the world. The digital freight forwarding market is expected to register the most rapid advance in the Asia-Pacific (APAC) region in the immediate future. This is credited to the surging number of manufacturing bases and special economic zones (SEZs) in the region.

This study covers

• Historical and the present size of the digital freight forwarding market

• Future potential of the market through its forecast for the period 2020– 2030

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Recent trends and evolving opportunities for the market participants

• Historical and the present size of the market segments and understand their comparative future potential

• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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