Freight Management System Market Trends, Share, Size, Key Players and Forecast 2024-2028

Written by Elena Anderson  »  Updated on: July 07th, 2024

Freight Management System Market Trends, Share, Size, Key Players and Forecast 2024-2028

IMARC Group’s latest report, titled “Freight Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2028”, the global freight management system market size reached US$ 14.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27 Billion by 2028, exhibiting a growth rate (CAGR) of 11.20% during 2024-2028.

 Freight Management System Trends:

A freight management system refers to a comprehensive software solution designed to facilitate the planning, execution, and monitoring of freight-related activities. It encompasses a range of functionalities such as order management, shipment tracking, carrier selection, freight auditing, and performance analytics. By leveraging technology and automation, an FMS enables businesses to efficiently manage their transportation processes, enhance visibility, and improve overall operational efficiency.

It plays an essential role in the efficient movement of goods and products across various supply chains. It helps businesses make informed decisions regarding carrier selection, route planning, and load optimization, leading to reduced transportation costs and improved customer satisfaction. Additionally, an FMS provides real-time visibility into shipment status, allowing stakeholders to track and monitor freight movements throughout the supply chain.

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Who are the key Players Operating in the Industry ? :

• Blue Yonder Group Inc. (Panasonic Holdings Corporation)

• C.H. Robinson Worldwide Inc

• Ceva Logistics (CMA CGM Group)

• DB Schenker (Deutsche Bahn AG)

• e2open LLC (E2open Parent Holdings Inc.)

• Kuehne + Nagel International AG

• McLeod Software

• MercuryGate International Inc

• Oracle Corporation

• SAP SE

• The Descartes Systems Group Inc

• United Parcel Service of America Inc

• Werner Enterprises Inc

What are the Growth Prospects and Trends in the Freight Management System Industry ? :

The expansion of trade networks and the rise in cross-border transportation activities are driving the global market. Moreover, the growing complexity in supply chain operations is catalyzing the market as FMS provides visibility, automation, and optimization capabilities to handle the intricacies of supply chain operations, including multiple vendors, warehouses, and transport routes.

Along with this, rising emphasis on supply chain visibility and transparency is acting as another growth-inducing factor since FMS offers tracking and monitoring features, providing stakeholders with visibility into shipment status, location, and estimated delivery times. Furthermore, continual technological advancements, such as cloud computing, the Internet of Things (IoT), artificial intelligence (AI), and big data analytics, are strengthening the market as these technologies enable real-time data exchange, predictive analytics, intelligent routing, and automation.

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What is Included in Market Segmentation ? :

Component Insights:

• Solution

o Planning

o Execution and Operations

o Control and Monitoring

• Service

o Consulting

o System Integration and Deployment

o Support and Maintenance

Transportation Mode Insights:

• Rail Freight

• Road Freight

• Ocean Freight

• Air Freight

End User Insights:

• Third-party Logistics

• Forwarders

• Brokers

• Shippers

• Carriers

Breakup by Region:

• North America (United States, Canada)

• Europe (Germany, France, United Kingdom, Italy, Spain, Others)

• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)

• Market Outlook (2024-2028)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

 About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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