Oct 30, 2020, 18:30 ET
DUBLIN, Oct. 30, 2020 /PRNewswire/ -- The "United States Digital Freight Forwarding Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The United States Digital Freight Forwarding Market is expected to grow at a CAGR of around 20% during the forecasted period.
Digitization is continuing to be one of the key drivers supporting growth of the American economy. Companies like convoy, Uber Freight and uShip are coming up with new platforms to fill in the gaps in the logistics industry. With Digital freight forwarding the manual process will be reduced.
All the quotations for freight forwarding will be available at one platform without the hassle of hours of conversation and paper trails. The major benefits of digital freight forwarding include instant quotes, transparent pricing, comparison of rates and carriers, tracking, easy documentation and others. The logistics industry is developing to a paperless digitized industry supoprting the growth of the market.
Key Market Trends
Rise of Digital Freight Matching Platform benefiting Trucking Companies
Majority of US trucking companies are not large organizations like Knight-Swift, J.B. Hunt, and Schneider. Around 97% of carriers in the U.S. operate 20 or fewer trucks (while 90% of those operate with six or fewer trucks).The U.S. economy depends on trucks to deliver nearly 70% of all freight transported in the US annually, accounting for USD 671 billion worth of manufactured and retail goods transported in the country by truck alone. To help match those carriers (both small and large) with shippers that want to get their goods from point A to point B as efficiently as possible, a new crop of "digital freight matching" platforms have emerged over the last few years.
Companies like Convoy, Uber Freight, and uShip, are called Digital Freight Matching companies. They match shipper demand for carrier/trucking capacity using mobile- or web-based technology platforms - most commonly through the use of apps. Digital Freight Matching lets shippers directly and almost immediately find drivers with the capacity to transport their truckload (TL), partial truckload, and less-than-truckload (LTL) freight on the right types of trucks on the dates and routes that they need. These apps provide a much needed solution for companies operating Less than Truckload Trucks.
Reduced Logistics Cost with Digital Freight Forwarding
Total cost of a product includes its logistics cost as well. With digital freight forwarding these costs can be cut short by using a digital forwarder. The digital forwarder connects within its digital platform importers, exporters, trucking companies, ocean carriers, airlines, customs agencies, and port terminals. Customers can access up-to-the-minute updates and alerts allowing for near real-time adjustments along the value chain to keep logistics, commercial, and customer expectations on track.
For example, Tradeshift, an open supplier collaboration platform with third-party apps, allows companies to manage direct and indirect spend. Platforms allow companies to gain increased control over some of the most critical business processes - from procurement, inventory, cash flow and customer relations, to compliance and tax planning. Chief Financial Officers can reconcile what's in-transit with what's on the balance sheet. This allows a transparent logistics process and hassle free transportation of goods.
The United States Digital Freight Forwarding Market is competitive and is highly fragmented with presence of many players. Digital freight forwarders (DFFs) use a digital platform to offer a broader range of logistics services than marketplaces and connectivity providers. DFFs build their core value proposition around a seamless user experience of shipping goods from one point to another while aggregating information on one platform with a single user interface.
Some of the existing major players in the market include
- KN Freight Net
- DHL Group
- Kuehne + Nagel International AG
- Agility Logistics Pvt. Ltd
- Uber Freight
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Value Chain / Supply Chain Analysis
4.3 Investment Scenarios
4.4 Government Regulations and Initiatives
4.5 Technology Development in Online Freight Forwarding and Digital Platforms
4.6 Overview on E-commerce Logistics and Freight Forwarding in United States
4.7 Value Propositions of E-platforms Vs Competitors
4.8 Impact of Covid-19 on the Market
5 MARKET DYNAMICS
5.4 Industry Attractiveness - Porter's Five Forces Analysis
6 MARKET SEGMENTATION
6.1 By Mode of Transportation
6.2 By Firm Type
6.2.2 Large Enterprises and Governments
7 COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.8 KN Freight Net
7.2.11 DHL Group
7.2.12 Kuehne + Nagel International AG
7.2.13 Agility Logistics Pvt. Ltd
7.2.15 Uber Freight
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3hj4ar
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