Freight Brokerage Market Scope
A freight brokerage solutions provide services in logistics or supply chain who acts as an inter-mediator between carriers and shippers to monitor transportation or goods from the point of manufacturer or shipper to the point of destination or carriers. The two types of freight brokers are asset-based freight brokers and non-asset-based freight brokers. Increase in International Trades, as well as Logistics automation, will lead to fuel the demand for Freight Brokerage Solutions.
According to AMA, the Global Freight Brokerage market is expected to see growth rate of 6.6% Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Freight Brokerage market throughout the predicted period.
C.H. Robinson (United States), Total Quality Logistics (United States), XPO Logistics (United States), Echo Global Logistics (United States), Coyote Logistics (United States), Landstar System (United States), Schneider Logistics (United States), Sunteck TTS (United States), England Logistics, Inc. (United Kingdom) and Yusen Logistics Co., Ltd. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Allen Lund Co. (United States), Redwood Logistics (United States) and Transplace (United States).
Segmentation Overview
The study have segmented the market of Global Freight Brokerage market by Type (Roadway, Seaway, Airway and Railway), by Application (Food and Beverages, Automotive, Retail & E-commerce, Healthcare, Manufacturing and Others) and Region with country level break-up.
On the basis of geography, the market of Freight Brokerage 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).
Influencing Trend:
Automated Freight Brokerage Applications, Increasing Costs and Rising Rates and Growing Industrial Production
Market Growth Drivers:
Growth of overall Transportation Industry, Saves Time, Resources and Money and Provides Shipping Expertise
Challenges:
Increased Adoption of Automated Brokerage Tools Will hamper Manual Broker’s Business, Cope up with Improved Customer Services and Increasing Fuel Costs
Restraints:
Increased Rigidity of Global Shipping Industry and Stringent Government Regulations
Opportunities:
Robust Growth in International Trading and Inclusion of IoT in Automated Freight Brokerage Software
Market Leaders and their Expansionary Development Strategies
In September 2023,Estes Forwarding Worldwide announced Thursday it will acquire forwarder Superior Brokerage Services Minneapolis-based SBS is an asset-based supply chain services company specializing in domestic and international transportation, customs brokerage, and warehousing.
In January 2023,Lobb, a digital freight brokerage platform plans to launch its mobile application in six new regional languages in a bid to improve user convenience and attract more users. and The startup enables transporters and truckers to connect, discover and transact freight in a frictionless manner by leveraging technology and building solutions ground-up, that are relevant at a global scale.
Key Target Audience
Freight Brokerage Service Providers, Transportation INdustry Associations, Goods Carrying Vehicle Manufacturers, Transportation Agencies, Government Organizations, Profit/Non-profit 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.