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 indispensable strategic assets. These advanced technologies are no longer merely automation tools; they are integral to intelligent decision-making across the entire supply chain. AI-driven platforms streamline quoting and pricing processes by analyzing carrier APIs, historical data, and internal rate sheets, enabling freight forwarders to generate optimized, margin-protective quotes in seconds. ML algorithms have revolutionized route optimization, 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

The Freight Forwarding Market encompasses various elements including shipping documentation, cargo handling equipment, freight payment methods, customs duty calculation, port infrastructure, logistics network design, supply chain visibility, transportation modes, container demurrage charges, cargo damage prevention, import export regulations, lead time optimization, warehouse automation, freight cost analysis, shipping lane optimization, carrier performance metrics, order tracking systems, customs bond requirements, freight claims process, container loading procedures, global trade compliance, logistics service providers, capacity planning models, transportation routing, delivery network design, inventory control methods, demand forecasting techniques, supply chain resilience, and distribution network management. These aspects collectively ensure efficient and effective movement of goods from one place to another, involving the handling of shipping documents, utilization of cargo handling equipment, selection of freight payment methods, calculation of customs duties, optimization of port infrastructure, design of logistics networks, enhancement of supply chain visibility, choice of transportation modes, management of container demurrage charges, prevention of cargo damage, adherence to import export regulations, reduction of lead times, implementation of warehouse automation, analysis of freight costs, optimization of shipping lanes, measurement of carrier performance, tracking of orders, fulfillment of customs bond requirements, processing of freight claims, adherence to container loading procedures, maintenance of global trade compliance, engagement of logistics service providers, planning of capacity, optimization of transportation routing, design of delivery networks, application of inventory control methods, and utilization of demand forecasting techniques to ensure supply chain resilience and efficient distribution network management.

Market Research Overview

The global air freight and logistics market encompasses the revenue generated by organizations offering air freight transportation, courier services, and comprehensive logistics solutions, including cargo tracking, customs brokerage, and cargo insurance. According to Technavio's market analysis, this market's size is determined by the revenues of air freight and logistics service providers. The market scope extends to the monitoring of goods in transit until delivery. Key growth drivers for the global air freight and logistics market include the surge in cross-border e-commerce activities, which entails customers purchasing goods from foreign sources.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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