About Ocean Freight Forwarding
Ocean freight forwarding, a process of shipments of freight from one location to another location with safely and effectively. Ocean transport is one of the important factors for strong supply chain management across the globe. The growth in cloud-based collaboration platform, connected shippers and advent of blockchain technology revolutionise the future of freight forwarding market globally.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.1% |
Analyst at AMA Research estimates that Swiss, United States and Japanes Manufacturers will contribute the maximum growth to Global Ocean Freight Forwarding market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kuehne + Nagel (Switzerland), DHL Group (Germany), DB Schenker Logistics (Germany), GEODIS (France), Panalpina (Switzerland), DSV A/S (Denmark), Bolloré Logistics (France), Expeditors (United States), Nippon Express (Japan), CEVA Logistics (Switzerland), Pantos Logistics (South Korea), Agility Logistics (Switzerland), Hellmann Worldwide Logistics (Germany), Damco (Denmark) and Kintetsu World Express, Inc. (KWE) (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are C.H.Robinson (United States), Hitachi Transport (Japan), Sankyu Inc. (Japan), Kerry Logistics (Hong Kong) and Logwin AG (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Ocean Freight Forwarding market by Type (Less-than container load (LCL), Full container load (FCL) and Others), Application (Agricultural, Automotive, Beverage, Electronic and Others) and Region.
On the basis of geography, the market of Ocean Freight Forwarding has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). If we see Market by Transportation Area, the sub-segment i.e. Domestic will boost the Ocean Freight Forwarding market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of IoT and Cloud-Based Collaboration Technology and Increasing Adoption of Blockchain to Revolutionise the Entire Freight Industry
Market Growth Drivers:
Increasing Cross-Border E-Commerce Globally, Rise in Seaborne Trade at the Global Level and The Growth in the Development of Port Infrastructure in Developing Economies
Challenges:
Operational Difficulties Due to Country-Wise Regulations
Restraints:
Ocean Freight Forwarding Consumes More Transport Duration
Opportunities:
Growing Internet Penetration and Increasing PPP in Developing Economies and Increase in Local and Zonal Shipments Have Potentially Increase Speed to Product Deliveries
The basic requirements for licensing as an Ocean Transportation Intermediary Freight Forwarder are covered in 46 C.F.R. 515 and the application process is completed by filing a Form FMC-18 in either paper format (typewritten and in duplicate) or electronically.
Key Target Audience
Shipping Companies, Shipbuilding Companies, End-User Customers, Downstream stakeholders, Government Regulatory Authorities, Investment Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.