Freight Forwarding Software Market is Prospering Owing to the Rising Burden of Infectious Diseases All Over the World

The global Freight Forwarding Software Market is expected to exceed the market valuation of more than US$ xx million by 2027 expanding at a reasonable CAGR of xx% during the forecast period (2021-2027). Freight forwarding software allows the management, as well as control of air freight, land freight, sea freight, warehouse, transport, customs, and integrate it with customer relationship management (CRM), billing, & financial accounting online from anywhere, anytime with any device.

The demand for freight forwarding software is rising on account of the implementation of cloud and big data analytics across various industries, the emergence of advanced solutions in cargo security, transportation, and safety. Big data analytics is creating new possibilities in the Warehousing of Goods. For instance, Logivations, a German supply chain solutions provider, offers a cloud-based 3D warehouse layout optimization and planning tool that helps in improving storage efficiency, warehouse design optimization, and picking productivity of an existing warehouse by simulating new configurations. In addition, the advancements in communication technologies and the Internet of things (IoT) are also intensifying market growth. Furthermore, the rapidly increasing global trade activities and the need to control the time-in-transit is the key factor driving the market growth.

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Due to COVID-19, each industry in the world is affected and its long-term effects are going to influence the growth of the Freight Forwarding Software market in the upcoming period. During the Covid-19 pandemic, the market is experiencing negative growth on the market. Due to the lockdown in many countries and increase in focus on the production of essential products, the volumes of air and ocean freight fell substantially in 2020. However, in the upcoming period, the market is expected to recover, backed by the e-commerce and manufacturing industries, particularly the air freight forwarding market, as reported by the International Air Transport Association (IATA) in January 2021.

Based on Type, the market is fragmented into Rail Freight Software, Road Freight Software, Ocean Freight Software, and Air Freight Software. The Ocean Freight Software segment dominated the market in 2020 and is anticipated to show lucrative growth in the upcoming period due to the rising infrastructure developments (ports, containers, and ships with new technologies), rising purchasing power, and booming internet penetration.

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Based on Application, the market is fragmented into Third-Party Logistics, Forwarders, Shippers and Carriers, and Others. The Third-Party Logistics segment is anticipated to show lucrative growth in the forthcoming period owing to the rapid growth of the global e-commerce sector, and the development of new technologies.

For a better understanding of the market adoption of Freight Forwarding Software, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, Italy, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Freight Forwarding Software market on account of the rising demand for cold storage, and tight truck capacity across the U.S. Some of the major players operating in the market include WiseTech, Descartes, Oracle, Werner Enterprises, Mercurygate, SAP, Accenture, Jda Software, Db Schenker, and C.H. Robinson (TMC). Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

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Global Freight Forwarding Software Market Segmentation

Market Insight, by Type

• Rail Freight Software
• Road Freight Software
• Ocean Freight Software
• Air Freight Software

Market Insight, by Application

• Third-Party Logistics
• Forwarders
• Shippers and Carriers
• Others

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• WiseTech
• Descartes
• Oracle
• Werner Enterprises
• Mercurygate
• SAP
• Accenture
• Jda Software
• Db Schenker
• C.H. Robinson (TMC)