Global Freight Management System Market Research Report: Forecast (2021-2026)
Market Overview
The freight management system is a software solution for efficient transport businesses to increase the effectiveness of commercial freight operations. It comprises numerous procedures like data entry, yet with a freight management system, the errors are reduced, thereby enhancing the company’s productivity & delivery capabilities.
According to MarkNtel Advisors’ research report, “Global Freight Management System Market Analysis, 2021,” the market is likely to grow at a CAGR of around 10.5% in the forecast period of 2021-26. It owes prominently to the growing number of MNCs, high investment by multiple market players overseas, and adoption of free trade policy by the governments of different countries. All these aspects are exponentially increasing the volume of imports & exports and booming the demand to have efficient freight management systems globally. Besides, the growing global e-commerce industry is also very likely to propel the overall market growth in the forecast period to guarantee planned inventory management and on-time delivery of products to the ultimate consumers.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 10.5% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Spain | |
| Asia-Pacific: China, India, Japan, South Korea, Australia | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | JDA Software, Accenture, DB Schenker, SNCF Geodis, CEVA, Hyundai Merchant Marine, Northline, Retalix, Werner, Interactive Freight Systems |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The outbreak of the Covid-19 pandemic hit the Global market adversely, mainly due to the imposition of the “Great Lock-down” phase and movement restrictions. It brought a substantially negative impact on the world economies. Besides, the extending duration of this impact is still undetermined. However, the Global Freight Management System Market is a bit more insulated than other markets. Hence, the pandemic is likely to have a lesser extent, especially in industries like CPG and food & beverage, which have seen an increasing need for Freight Management System applications.
Market Segmentation
On-Premise Holds the Largest Market Share
Based on the Deployment Type, the Global Freight Management System Market segments into On-Premise and Cloud. Of both, the On-Premise is more likely to hold the largest share in the forecast years, owing to numerous several large-scale manufacturing & distribution companies. These companies are inclining toward on-premise freight management systems due to convenient access to the server, surging data safety requirements, and better control over customization. Hence, the market is likely to witness a rise in the adoption of On-Premise deployment, which shall propel the segment to attain the largest market share in the forecast years.
Consulting to Attain the Fastest Market Growth in the Forecast Years
Based on the Service, the Global Freight Management System Market segments into Consulting, System Integration & Deployment, and Support & Maintenance. Here, Consulting is more likely to witness the fastest market growth in the forecast years. It owes to the vendors offering consulting services to enable the in-house staff to understand the functioning of the Freight Management System. These services provide a cost-effective way to ensure performance at the highest level of in-house staff members. Moreover, consulting is crucial for end-users as certain companies do not have the expertise in understanding the complexities involved in configuring the management system. Consulting service providers guide companies in deploying the freight management system and address specific business-process requirements most feasibly. Hence, with the growing demand for consulting services, the segment shall propel in the forecast years, thereby attaining the fastest growth, states MarkNtel Advisors in their research report, “Global Freight Management System Market Analysis, 2021.”
Regional Landscape
North America likely to hold the Largest Market Share
North America is likely to hold the largest share of the Global Freight Management System Market in the forecast period, prominently due to the freight management solutions & services adopted by multiple end-users in the region. The region is likely to become the most mature for the growth of the freight management system market due to the high technological adoption & growing availability of leading solutions providers in the Global Freight Management System Market. In North America, countries like the US & Canada are witnessing the significant adoption of freight management systems. Here, the US shall have the prime dominance in the market, owing to its sustainable & well-established economy empowering massive investments in R&D activities, thereby contributing to the growth of new technologies & use cases.
Market Driver
Multiple companies are increasingly inclining toward technologies that help trace, track, secure, and control the in-transit cargo. Visibility is increasingly playing a vital role in supply chain and logistics strategies, be it inbound logistics or outbound. It is likely to be achieved using specific identification numbers describing the nature of products. It helps improve inventory management and reduces CAPEX while minimizing supply chain errors. Moreover, it makes the data available at a click to any stakeholder and overcomes the limitation of most enterprise resource planners struggling to ingest external organizational information.
Furthermore, it also provides an inside view of the organization. Hence, the Visibility of the Freight Management System is likely to drive the global market in the forecast period and unify the organizational supply chain information to support concurrent planning while building lucrative opportunities in the forecast period.
Competitive Landscape
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.
Key Questions Answered in the Market Research Report:
What are the key results derived from the market surveys conducted during the Global Freight Management System Market study?
Market Outlook, Segmentation, and Statistics:
Frequently Asked Questions
A. The Global Freight Management System Market is likely to grow at a CAGR of around 10.5% in the forecast period of 2021-26.
A. JDA Software, Accenture, DB Schenker, SNCF Geodis, CEVA, Hyundai Merchant Marine, Northline, Retalix, Werner, Interactive Freight Systems are a few of the leading players in the Global Freight Management System Market.
A. On-Premise is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR in the forecast period of 2021-26, presenting immense opportunities for market players of the Global Freight Management System Market.
A. The Visibility of the Freight Management System is likely to drive the global market in the forecast period and unify the organizational supply chain information to support concurrent planning while building lucrative opportunities in the forecast period.
A. The Global Freight Management System Market is a bit more insulated than others; the impact is likely to have a lesser extent, especially in industries like CPG and food & beverage, which have seen an increasing need for Freight Management System applications.
