According to MarkNtel Advisors' research report, "Global Freight Management System Market Analysis, 2021," the market is likely to grow at a CAGR of 10.5% in the forecast period of 2021-26. It owes to the booming advancements in communication technologies with increasing adoption of IoT, expanding trade, and the growing freight visibility solutions & technologies. Besides, the increasing e-commerce industries shall also drive the market to attain massive shares and targets in the forecast period.
Key questions answered in the study:
Control and Supervision to Witness the Fastest Growth
Based on the Solution, the Global Freight Management System Market segments into Planning (Supplier and Vendor Management, Freight information Management, Inventory Management, Claims Management), Operations and Execution, (Load Optimization, Freight Visibility, Freight Audit & Payment)Others (Transportation Management, etc.), Control and Supervision (Freight Tracking and Surveillance Solution, Baggage and Cargo Screening System, Shipment Security Monitoring). However, the Control and Supervision segment is more likely to witness the fastest market growth in the forecast years. It owes to its rapidly growing demand for visibility, track & trace, and security & monitoring technologies. Hence, users worldwide are swiftly adopting freight management system tools, which, in turn, shall boost the overall market growth in the forecast years.
"Global Freight Management System Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Freight Management System providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-Pacific region is likely to register the fastest growth in the Global Freight Management System Market during 2021-26. It is prominently due to exponentially growing inter-trade & intra-trade chains among several Asian countries. Besides, increasing online retailing systems are also actively fuelling the demand for multiple freight management solutions & services, especially in developing economies like India & China. Furthermore, the massive investments by the governments and numerous market players in the region are other crucial aspects propelling the market to attain the largest market share in the forecast years. Therefore, based on these factors, Asia-Pacific is likely to contribute to the growth of the Global Freight Management System Market in the forecast period, reveals MarkNtel Advisors in their research report, "Global Freight Management System Market Analysis, 2021."
According to MarkNtel Advisors, the leading players in the Global Freight Management System Market are JDA Software, Accenture, DB Schenker, SNCF Geodis, CEVA, Hyundai Merchant Marine, Northline, Retalix, Werner, Interactive Freight Systems.