Freight Forwarding Service Provider Services Market Scope
A freight forwarder is an agent who is in charge of moving goods on behalf of the cargo owner. This responsibility can begin when the goods are picked up from the seller and ends when delivered to the buyer's specified location. Freight forwarding services provider of freight forwarding services, including customs brokerage and transportation to the final destination. Freight forwarding services include all services related to the carriage, consolidation, storage, handling, packing, or distribution of goods, as well as ancillary and advisory services in connection with such services, such as customs and fiscal matters, declaring the goods for official purposes, procuring insurance for the goods, and collecting or procuring payment or documents relating to the goods. The booming e-commerce market, as well as the increase in international trade volumes, is a major driver for the freight forwarding market. Emerging markets offer outstanding opportunities for logistics service providers, both in terms of overall growth rates and in responding to rapidly changing market trends.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Freight Forwarding Service Provider Services market throughout the predicted period.
United Parcel Service of America, Inc. (United Kingdom), Flexport (United States), Freightwalla (India), DSV Freight Forwarding (Denmark), XPO Logistics (United States), Agility (Kuwait), RHENUS (Germany), Cargologik (United States), GEODIS (France), Navegate Services (United States) and Deugro (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Forto (Germany), cargo.one (Germany), Convelio (France), Sealand (United States) and Beacon (United States).
Segmentation Overview
The study have segmented the market of Global Freight Forwarding Service Provider Services market , by Application (B2B and B2C) and Region with country level break-up.
On the basis of geography, the market of Freight Forwarding Service Provider Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The Integration of Advance Technology Artificial Intelligence (AI) Key Trend Gaining Popularity In the Freight Forwarding
Market Growth Drivers:
Increasing Demand for Cost-Effective Shipping and Growing Cross Border Trade Activities
Challenges:
Volatile Nature of Trade Activities
Restraints:
Stringent Regulation Regarding Import and Export
Opportunities:
Increasing Trade Volumes and Rising Trade Agreements Will Accelerate the Growth of the Freight Forwarding and Economic Growth in Emerging Countries
Market Leaders and their Expansionary Development Strategies
On September 2021, UPS entered into an agreement to acquire Roadie, a technology platform that enables local same-day delivery with operations throughout the U.S. UPS customers, including large enterprises, are increasingly looking for local same-day delivery solutions for goods of all types, not traditional packages
Key Target Audience
Freight Forwarding Service Provider Services, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.