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There are several freight management systems on the market today that can be deployed on-premise or in the cloud. The main factors driving the market are increased global trade, the need to control transit time, and the growing demand for supply chain visibility. The company’s software is scalable and can be deployed in the cloud. During the forecast period, the Freight Management System Market is expected to grow at a 10.13% CAGR, reaching USD 60.77 billion by 2032.
In addition, vendors’ integration of technologies such as cloud computing and big data analytics into the system is expected to create a number of market opportunities. Green freight improves freight systems’ real-world energy efficiency and environmental performance, which is expected to encourage vendors to invest in this opportunity. However, congested trade routes may act as a barrier for this market.
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This market’s vendors provide software and services for freight management system management. Kuebix TMS, for example, created software that can also be deployed in the cloud. Descartes Systems Group Inc., on the other hand, has created a freight management system that can be easily integrated with other transportation management software.
Freight Management System Market Key Players –
The Key Players of the Global Freight Management System Market are:
The Global Freight Management System Market has been divided into Component, End-User, Transportation Mode, and Region segments. The freight management system market has been divided into two components: solutions and services. Consulting, system integration and deployment, support, and maintenance are the service segments. The solution segment is divided into three parts: planning, execution, and operations, as well as control and monitoring. Supplier and vendor management, freight order management, revenue management, dispatch management, and claims management are all part of the planning solutions.
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The freight management system market has been divided into three segments based on end-user: third-party logistics, forwarders, brokers, shippers, and carriers. The demand from freight forwarding companies is increasing at an exponential rate, and the freight management system is the ideal solution to help them run their businesses more efficiently.
The freight management system market has been divided into four segments based on mode of transportation: road freight, ocean freight, air freight, and rail freight. The ocean freight segment is expected to grow at the fastest pace.
The global freight management system market has been divided into four regions: Asia-Pacific, North America, Europe, the Middle East and Africa, and South America.
In terms of market share, North America leads the freight management system market. Continuous investment and a focus on freight automation are two of the factors driving the market’s growth. Another factor that has contributed to a significant share in the North America freight management system market is the presence of a number of software providers in the market, such as Mcleod Software, Freightview, Freight Management, Linbis, Logisuite, JDA Software, Descartes, Oracle Corporation, Werner Enterprises, and MercuryGate.
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Europe is currently ranked second in the market. Europe has been divided into four sections for the purposes of this study: the United Kingdom, Germany, France, and the rest of Europe. The UK is expected to gain the largest market share, followed by Germany and France, according to MRFR analysis. Because of the rapidly increasing global trade and the need to control time-in-transit, the freight management system market in this region is expected to grow.
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