Freight Management System Market Scope
A Freight management system is a software used by freight organization, this software provides various solutions and services to assist regular operations such as shipping, detecting, and tracking among others for transport businesses. It ensures them an increased efficiency for commercial freight operations. This software helps in reducing numerous errors such as data entry & others which in turn helps the company to increase its productivity and delivery capabilities. This software helps in managing certain things in a single platform such as controlling cost, retaining accurate records, warehouse inventory level among others. According to Bureau of Transportation Statistics (BTS), the truck and rail freight is up 4.1% and 1.9% compared to March 2017 in North America, hence propels this market to grow day by day.
Research Analyst at AMA estimates that Global Manufacturers will contribute to the maximum growth of Global Freight Management System market throughout the predicted period.
Descartes (Canada), Oracle (United States), Werner Enterprises (United States), MercuryGate (United States), SAP (Germany), Accenture (Republic of Ireland), JDA Software (United States), Ceva Logistics (Spain), UPS (United States) and DB Schenker (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are C.H. Robinson TMC (United States), Riege Software (Germany), Retrans (United States), BluJay Solutions (United Kingdom), McLeod Software (United States), FreightView (United States), Freight Management (United States), Linbis (United States), Logisuite (United States), DreamOrbit (India), Manhattan Associates (United States) and Magaya Corporation (United States).
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 total available market.
Segmentation Overview
The study have segmented the market of Global Freight Management System market by Type (Freight Tracking & Monitoring, Cargo Routing & Scheduling, Security and Order Management), by Application (Forwarders, Brokers, Shippers and Other) and Region with country level break-up.
On the basis of geography, the market of Freight Management System 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).
The Intermodal Surface Transportation Efficiency Act (ISTEA) imposes new planning and regulatory requirements on states and cities while increasing the diversion of highway gas tax money to no highway uses. The act authorized the creation of the Bureau of Transportation Statistics and the Office of Intermodalism within the Department of Transportation.
Market Trend
- Adoption of Cloud and Big Data Analytics in Freight Management System
- Investing in Freight Management System Software so that they can Provide Real-Time, Accurate Delivery of Products to the Customers
Market Drivers
- Increasing Digitalization and Rising Population across the World
- Increasing Demand for On-Time Delivery of Products and Raw Materials by Potential Clients
Opportunities
- Growth of MNCs in Developing Nations
- High Investment Overseas, and Adoption of Free Trade Policy by Different Countries
- The Emergence of Cloud and Big Data Analytics Along With M2M Communication
Restraints
- Issue Related to Cross-Border Trade Risks
- Concern Related to Overcrowded Trade Route
Challenges
- Involvement of Small Players
- High Cost Involved in this Software
Key Target Audience
Freight carriers, Logistics service providers/lead logistics, Freight forwarders and brokers, Independent Software Vendors (ISVs), Internet of Things (IoT) hardware and software vendors, Government/regulatory agencies and Industry associations