The Global Freight Management System Market size is expected to reach $20.4 billion by 2024, rising at a market growth of 12.1% CAGR during the forecast period. Freight management system is a software solution majorly implemented in transport segment to efficiently optimize commercial freight operations. These software systems are used in automating processes and in improving communication and productivity within an organization. Growing global trade, controlling time-in-transit, growing freight visibility solutions and technologies, advancements in freight security, safety, and transportation solutions, and growth in the communication technologies and rapid adoption of IoT are the factors that would drive the growth of the market.
Global Freight Management System Market Size
Based on Component, the market is segmented into Solution and Services. Solution Type is further segmented into Control & Monitoring, Execution & Operations, and Planning. Control & Monitoring includes Freight Tracking & Monitoring Solution, Cargo Routing & Scheduling Solution, and Cargo Security. Execution & Operations Market includes Transportation Management System, Freight Audit & Payment, Electronic Data Interchange, Load Optimization, Brokerage Operational Management, and Freight Visibility. Planning Market includes Supplier & Vendor Management, Freight Order Management, Revenue Management, Dispatch Management, and Claims Management.
Global Freight Management System Market Share
The Services market is segmented into Professional and Managed Services. Based on Transportation Mode, the market is segmented into Road Freight, Rail Freight, Ocean Freight, and Air Freight. Based on End User, the market is segmented into Third-Party Logistics, Forwarders & Brokers, and Shippers & Carriers. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The market research report covers the analysis of key stake holders of the Global Freight Management System Market. Key companies profiled in the report include Oracle Corporation, SAP SE, Accenture PLC, Werner Enterprises, Inc., JDA Software Group, Inc., MercuryGate International, Riege Software, BluJay Solutions, McLeod Software Corporation, Inc. and C.H. Robinson.