Latest News- Road Freight Transport Market: LCV is expected to lead the Vehicle Type segment during 2025-2029

The Road Freight Transport Market is being driven by Rapid growth in e-commerce industry

The Road Freight Transport Market is expected to grow at a CAGR of 8.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 204.4 billion. The global road freight transport market is experiencing a profound transformation due to the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies. These advanced solutions are revolutionizing core operations, enhancing efficiency, and providing a competitive edge to industry players. AI and ML are pivotal in optimizing route planning by utilizing real-time data, such as traffic conditions, to determine the most efficient paths. This capability reduces transportation costs and improves delivery times, ensuring timely and cost-effective logistics solutions. Additionally, AI and ML offer real-time insights, accurate demand forecasting, optimized inventory levels, and improved customer service, making them essential tools for market success. The adoption of these technologies is reshaping the road freight transport landscape by enabling real-time decision making, reducing operational costs, and increasing overall productivity. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Vehicle Type
  • LCV
  • MCV and HCV
• End-user
  • Manufacturing
  • Automotive
  • Consumer goods
  • Food and beverage
  • Others
• Destination
  • Domestic
  • International
  • Domestic
  • International
• Truckload Specification
  • Full-Truck-Load (FTL)
  • Less than-Truck-Load (LTL)
  • Full-Truck-Load (FTL)
  • Less than-Truck-Load (LTL)
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

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

• Rapid growth in e-commerce industry
• Growing retail sales in APAC
• Increasing cross-border trade globally

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

• High fuel and transportation costs associated with freight forwarding
• Unavailability of truck drivers
• Rising number of trade wars

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Market Scope in Road Freight Transport Market Research Report

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Research Analysis Overview

The Road Freight Transport Market encompasses various components including freight brokerage, load boards, freight exchanges, and marketplaces. Freight visibility is a key aspect, offering supply chain management solutions through logistics software and transportation management systems. Route planning, vehicle maintenance, driver training, and retention are essential for efficient operations. Fuel management, emissions reduction, and green logistics promote sustainability. Last-mile delivery, urban logistics, and delivery optimization ensure timely parcel delivery, express shipping, and reverse logistics. Cross-border and international shipping require risk management and supply chain resilience, while digital transformation, cloud computing, big data, predictive analytics, machine learning, and data-driven decision-making enhance network optimization and capacity planning.

Market Research Overview

The global cargo ground transportation market encompasses revenue generation from companies specializing in trucking, car transport, camper rental, bus operations, van services, and motorbike freight. According to Technavio, market expansion is attributed to the escalating demand for goods transportation, particularly in emerging economies, where logistics growth is projected to be substantial. Route optimization and fleet management are essential strategies for market players to enhance operational efficiency and competitiveness within this burgeoning industry.. 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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Website: www.technavio.com/