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Allied Market Research

Freight Brokerage Market by Transportation (Roadway, Seaway, Airway and Railway), Industry (Food & Beverages, Automotive, Retail & E-commerce, Healthcare, Manufacturing and Other (Aerospace &Defense)) and Services (LTL, FTL and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Aug 2021 | 995 Views
   
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COVID-19

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Freight Brokerage Market Outlook – 2027 

The freight brokerage market employed brokers to plays the role of middle man in the shipping industry. The freight brokers play an important role as they link customers with shippers and trucking companies.In recent past years,the industry has seen transforming with the introduction & growth of digital freight broker companies, which has further revolutionized the industry. The boost in the global digital freight brokerage market is due to the rise in usage of smartphones, improved wireless connectivity, and advantages given by digital platforms such as accuracy, better efficiency, less time consuming, reduced costs, and permits transparent business. The increasing demand for shipping transportation across the globe is expected to boost the market in the forecasting period.

Market scope and structure analysis:

        Market Report Metric

                                               Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast unit

  Value (USD)

  Segments covered

  Transportation, Industry, and Services

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

C.H. Robinson Worldwide Inc., Echo Global Logistics Inc., Expeditors International of Washington Inc., Hub Group Inc., J.B. Hunt Transport Services Inc., Kuehne + Nagel International AG, Nippon Yusen Kabushiki Kaisha, Panalpina World Transport (Holding) Ltd., United Parcel Service of America Inc., and XPO Logistics Inc.

 

COVID-19 scenario analysis:

  • The transportation has surely gone down due to lockdown and companies have been shut down which created a huge impact on ship transportation.
  • The major connection between the two countries for major supplies such as foods medicines and other basic needs were been fulfilled by ship transportation only.
  • The introduction of new ships will increase once the pandemic is over as many countries are willing to transport their goods through ships as it is economical.
  • The government and transportation companies will be increasing their resources after the lockdown, as to maintain the social distancing at the workplace will be a lot easier on ship transportation as compared to any other.

Top impacting factors:Market scenario analysis, trends, drivers, and impact analysis

Some of the factors that boost the rising penetration of smartphones & tablets and the integration of technology and growth in licensed brokers are expected to spur the demand over the forecast period. Moreover, the huge capital investments required for developing such software and to overcome the logistic challenges are anticipated to hamper the growth of the market. Furthermore, companies working in the market are trying to provide quality carriers by collecting & acting upon feedbacks from shippers and pre-verifying the carriers which can create lucrative opportunities for the market in the forecasting period.

The freight brokerage market trends are as follows:

Rise in penetration of smartphones and tablets 

The digital platform advancements have empowered this process by making it much efficient & more productive by letting shippers find carriers on demand and also eliminate abrupt brokerage fees. Moreover, growing wireless connectivity and network technologies, such as 3g and 4g, particularly in developing countries are expected to bring a positive impact on the market. The advanced technologies in developed countries and the culture of the rapid adopting the latest technology are supplementing the market growth in the forecasting period.

Integration of technology and growth in licensed brokers 

The tech-enabled services have offered prominent opportunities for freight brokers to provide transformational value to the market. Are using different algorithms to match several carriers and loads based on origin, destination, price, type of load, and timing. Traditional brokerage results in delays or issues with a shipment, but they hard to analyze. With digital freight booking, the brokerage maintains a detailed record of every load, minute by minute in some cases. The growing demand for ship transportation across the world is expected to boost the freight brokerage market in the forecasting period.

Key segments covered:

               Segments

                                  Sub-segments

  Transportation

  • Roadway
  • Seaway
  • Airway
  • Railway

  Industry

  • Food &Beverages
  • Automotive
  • Retail & E-commerce
  • Healthcare
  • Manufacturing
  • Other (aerospace & defense)

  Services

  • LTL
  • FTL
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the freight brokerage market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the freight brokerage market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the freight brokerage market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions answered in the freight brokerage market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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