The global seafreight forwarding market will register a CAGR of close to 3% by 2022.
The rising popularity of blockchain technology in the shipping industry is one of the key factors gaining traction in the market. Blockchain systems are increasingly being used to make the processes more efficient and cut costs by eliminating the need for a central authority for maintaining records.
Growing global cross-border e-commerce market is driving the LCL volume
There has been a significant increase in the global cross-border e-commerce trade. Such continuous increase in the foreign trade is likely to influence the seafreight forwarding market positively. Factors such as the rising purchasing power parity and internet penetration is likely to contribute majorly to the growth of the market.
High freight cost and operational difficulties
The continuous consolidation in the shipping industry owing to low demand, non-utilization of vessels, and other factors is one of the key factors hindering the growth of the market. Major companies are forming alliances to result into an oligopolistic market.
The seafreight forwarding market is highly fragmented with several players incorporating blockchain technology to meet the evolving demands of the end-users. Some of the key players in the market including the DHL Group, CJ Logistics, CEVA Logistics are increasingly innovating with their solutions to gain a competitive advantage over the other players resulting in intense competition.
According to the report, one of the major drivers for this market is the growing global cross-border e-commerce market owing to the rising purchasing power of consumers particularly in the emerging economies. The latest trend gaining momentum in the market is the introduction of blockchain in the shipping industry.
Further, the report states that one of the major factors hindering the growth of this market is the consolidation in the shipping industry leading to the high freight cost and operational difficulties.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
Market segmentation analysis
PART 05: MARKET SIZING
Market sizing 2017
Market size and forecast 2017-2022
PART 06: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
PART 07: MARKET SEGMENTATION BY SERVICE
Segmentation by service
Comparison by service
FCL - Market size and forecast 2017-2022
LCL - Market size and forecast 2017-2022
Market opportunity by service
PART 08: CUSTOMER LANDSCAPE
PART 09: REGIONAL LANDSCAPE
EMEA - Market size and forecast 2017-2022
APAC - Market size and forecast 2017-2022
Americas - Market size and forecast 2017-2022
Key leading countries
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
Introduction of blockchain in the shipping industry
Increasing deployment of mega-ships
Increasing deployment of online freight management platforms