According to a new market research report "Freight Management System Market by Solution (Freight Tracking & Monitoring, Cargo Routing & Scheduling, Security, EDI, TMS, Order Management), End-user (3PLs, Forwarders, Brokers, Shippers), Transportation Mode, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the freight management system market size expected to grow from USD 10.76 Billion in 2018 to USD 17.45 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period.Some of the factors that are expected to drive the growth of the freight management system market include the need to reduce the transit time, desire for supply chain visibility, higher customer satisfaction, and the low cost of logistics, coupled with the advancements in freight security, safety, and transportation solutions; and rapid growth in communication technologies and IoT.
However, congested trade routes and cross-border trade risks and environment concerns related to transportation and logistics may restrain the market growth.Browse in-depth TOC on "Freight Management System Market”115- Tables42- Figures182- PagesDownload PDF Brochure @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=214631371Under the solutions segment, the execution and operations solution segment is expected to hold the largest market share during the forecast periodThe execution and operations solutions include information interchange, visibility, audit and payments, and transportation management.
These solutions are involved in the exchange of information and execution of the processes involved in the transportation of freight from consignors to consignees.
Most solutions are existing in the market for many years and are evolving with advanced technologies, hence the execution and operations solution segment holds the largest market share in the market.Among transportation modes, the road freight transportation mode is expected to hold the largest market share during the forecast periodThe road freight transportation mode is estimated to hold the larger market share in 2018, owing to the higher adoption of freight management solutions in domestic freight transportation.
In fact, US is expected to have a major dominance in the freight management system market, due to its sustainable and well-established economy which empower it to make huge investments in R activities, thereby contributing to the development of new technologies and use cases.Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=214631371The major vendors covered in the freight management system market include Descartes (Canada), Oracle (US), Werner Enterprises (US), MercuryGate (US), SAP (Germany), Accenture (Republic of Ireland), JDA Software (US), Ceva Logistics (Spain), UPS (US), DB Schenker (Germany), C.H.
Robinson TMC (US), Riege Software (Germany), Retrans (US), BluJay Solutions (UK), McLeod Software (US), FreightView (US), Freight Management (US), Linbis (US), Logisuite (US), DreamOrbit (India), Manhattan Associates (US), Magaya Corporation (US), Kuebix (US), ImageSoft (Australia), and 3GTMS (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.