Richmond, Nov. 30, 2023 (GLOBE NEWSWIRE) -- According to a research report "Digital Freight Matching Market, by Service (Load posting, Carrier search, Real-time matching, others), Technology (Web-based, Mobile-based), Industry Vertical (Food & Beverages, Retail & E-Commerce, Manufacturing, Oil & Gas, Automotive, Healthcare, Others), and Region.
Global Digital Freight Matching Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 23.9 Billion |
| Market size value in 2030 | USD 65.5 Billion |
| CAGR (2023-2030) | 15.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Service, Technology, Industry Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Digital Freight Matching Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Digital Freight Matching (DFM) has emerged as a transformative force within the logistics and transportation industry, revolutionizing the way goods are moved across the globe. At its core, Digital Freight Matching refers to the use of advanced technology platforms to connect shippers with carriers, optimizing the process of matching available freight with available capacity. This innovative approach leverages digital solutions, such as online marketplaces and mobile applications, to streamline and automate the traditionally complex and time-consuming task of matching freight demand with carrier capacity. By harnessing the power of real-time data, artificial intelligence, and connectivity, DFM enhances operational efficiency, reduces costs, and improves overall supply chain agility. The Digital Freight Matching market is witnessing substantial growth, driven by the increasing demand for efficient and transparent freight logistics solutions. Traditional freight matching processes often involve manual intervention, paperwork, and numerous intermediaries, leading to delays, inefficiencies, and added costs. In contrast, Digital Freight Matching platforms leverage cutting-edge technologies to create a seamless and automated ecosystem that connects shippers and carriers directly.
Major vendors in the global Digital Freight Matching Market:
- C.H. Robinson
- Convoy
- DAT Solutions
- KeepTruckin
- Loadsmart
- Motive Technologies
- Uber Freight
- Delhivery
- Flexport
- Rivigo
- Loji Logistics
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Growing Penetration Of Smartphones
The growing penetration of smartphones serves as a significant driver for the Digital Freight Matching (DFM) market, ushering in a new era of connectivity and accessibility within the logistics and transportation industry. As smartphones become increasingly ubiquitous globally, they play a pivotal role in reshaping how stakeholders in the supply chain interact and conduct business. The widespread availability of smartphones among both shippers and carriers is instrumental in the adoption and success of Digital Freight Matching platforms. The rise of smartphones has facilitated seamless access to Digital Freight Matching applications, enabling users to engage with these platforms anytime, anywhere. Shippers can conveniently post freight requirements, track shipments, and make real-time decisions using dedicated mobile applications. On the other hand, carriers can access available loads, submit bids, and manage their operations efficiently through user-friendly interfaces on their smartphones. This level of accessibility transcends geographical barriers and time constraints, fostering a more dynamic and responsive freight ecosystem.
Market Dynamics
Drivers:
- Growing Penetration Of Smartphones
- Rising need for reliable connections between carriers and shippers
- Increased demand for reliable freight partners
Opportunities:
- Integration with Emerging Technologies
- Eco-Friendly Logistics Solutions
Integration with Emerging Technologies
The Digital Freight Matching (DFM) market is presented with a compelling opportunity through the integration with emerging technologies, marking a transformative phase in the logistics and transportation industry. As technology continues to advance at an unprecedented pace, the convergence of Digital Freight Matching platforms with cutting-edge innovations opens new frontiers for efficiency, transparency, and overall optimization within the supply chain. One key avenue for integration lies in the realm of the Internet of Things (IoT). Digital Freight Matching platforms can leverage IoT devices to collect and transmit real-time data on the location, condition, and status of shipments. This integration enhances the accuracy and timeliness of information available to shippers and carriers, allowing for more informed decision-making. IoT-enabled sensors on trucks, containers, and pallets provide granular visibility into the entire logistics process, enabling stakeholders to proactively address issues, predict potential disruptions, and optimize routes for improved efficiency.
The market for Digital Freight Matching is dominated by North America.
North America stands out as a dominating region for the Digital Freight Matching (DFM) market, and this is attributed to a combination of factors, including a well-established technological infrastructure and high levels of internet and smartphone penetration. The region's advanced connectivity landscape enables seamless access to digital freight matching platforms for both shippers and carriers. This heightened accessibility contributes significantly to the widespread adoption and success of DFM solutions in North America. The region benefits from a developed technological ecosystem, creating an environment conducive to the growth of the Digital Freight Matching market. With a substantial portion of the population having access to high-speed internet and smartphones, the logistics industry in North America is well-positioned to leverage digital platforms effectively. The ease of access to these platforms enhances operational efficiency, accelerates decision-making processes, and fosters a more dynamic and responsive freight ecosystem.
The Mobile-based Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on technology the human microbiome market is segmented into web-based and mobile-based. The dominant segment within the digital freight matching (DFM) market is the mobile-based category, which secured the highest market share in 2022 and is projected to experience the most rapid Compound Annual Growth Rate (CAGR) throughout the forecast period. This robust performance is attributed to the widespread adoption of mobile applications by key market players, available on platforms such as Google Play and Apple Inc.'s App Store. Notably, China's Full Truck Alliance (JiangSu ManYun Software Technology Co., Ltd.) exemplifies this trend by delivering freight matching and value-added services through mobile applications like Yunmanman and Huochebang. Mobile-based platforms distinguish themselves by offering faster operational speeds compared to their web-based counterparts and the ability to function offline.
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