Latest News- Freight Forwarding Market: Land freight is expected to lead the Mode Of Transportation segment during 2025-2029

The Freight Forwarding Market is being driven by Increasing international trade

The Freight Forwarding Market is expected to grow at a CAGR of 4.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 51615.2 million. In the dynamic and evolving global freight forwarding market by 2024, Artificial Intelligence (AI) and Machine Learning (ML) have become integral components of operational strategies. These advanced technologies are no longer mere automation tools; they serve as strategic assets, driving intelligent decision-making throughout the supply chain. AI-driven platforms streamline quoting and pricing by analyzing carrier APIs, historical data, and internal rate sheets, enabling freight forwarders to generate optimized, margin-protective quotes in seconds. Route optimization has become more dynamic, with ML algorithms factoring in real-time traffic, fuel costs, and environmental impact to determine the most efficient and sustainable shipping routes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Mode Of Transportation
  • Land freight
  • Ocean freight
  • Air freight
• Application
  • Industrial and manufacturing
  • Retail and E-commerce
  • Food and beverages
  • Healthcare
  • Others
• Service Type
  • Transportation and warehousing
  • Value-added services
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing international trade
• Government support for logistics industry
• Growth of e-commerce industry

However, the market also witnesses some limitations, which are as follows:

• High fuel and transportation costs associated with freight forwarding
• Regulatory compliance and environmental policies associated with logistics services
• Lack of skilled workforce in logistics industry

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Market Scope in Freight Forwarding Market Research Report

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Research Analysis Overview

In the realm of global trade, freight forwarding plays a pivotal role in the transfer of goods from one place to another. Best practices involve negotiating tariffs and adhering to customs regulations and shipping requirements. Maintaining goods in good condition is crucial for successful trade. Information technology streamlines the freight forwarding process, ensuring efficient and seamless transportation.

Market Research Overview

The global air freight and logistics market encompasses the revenue generated by businesses offering air freight transportation, courier services, and logistics solutions, which involve package and mail delivery, customs clearance, and real-time tracking of goods in transit until delivery. According to Technavio, market size is determined by the earnings of these providers. Key growth drivers include the surge in cross-border e-commerce activities, where consumers purchase products from foreign sources, necessitating efficient and reliable freight forwarding services to ensure timely and secure transfer of goods in optimal condition.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/