Richmond, March 01, 2024 (GLOBE NEWSWIRE) -- According to a research report "Europe Digital Freight Matching Market”, by Platform Type (Freight Brokerage Platforms, Freight Exchange Platforms and Digital Freight Platforms), Business Model (Subscription-Based Models, Transaction-Based Models and Premium Models), Application (Truckload (TL) Freight Matching, Less-Than-Truckload (LTL) Freight Matching, Intermodal Freight Matching) (Shippers, Carriers and Third-Party Logistics Providers) and Region - Global Forecast to 2030.
Europe Digital Freight Matching Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 7.90 Billion |
| Market size value in 2030 | USD 44.5 Billion |
| CAGR (2023-2030) | 28.0% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Platform Type, Business Model, Application 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 Europe 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
The Europe Digital Freight Matching (DFM) market is experiencing significant growth driven by the increasing adoption of digital technologies in the logistics and transportation sector. The key driver of this growth is the rising demand for efficient and transparent freight management solutions, as businesses seek to optimize their supply chain operations. Several factors contribute to the flourishing DFM market in Europe. The region's strong emphasis on technological advancements, coupled with the growing awareness of the benefits of digital freight solutions, is propelling market expansion. The implementation of Industry 4.0 principles, such as IoT-enabled tracking and real-time visibility, is a major catalyst for the adoption of DFM platforms. Moreover, the emphasis on sustainability and environmental concerns is driving the need for more efficient freight matching, reducing empty miles and carbon emissions.
Key players are playing a pivotal role in shaping the competitive landscape of the Europe DFM market. Companies such as C.H. Robinson Worldwide, Inc., Cargomatic Inc., Convoy, Inc and Dachser are dominating the market share, leveraging their technological expertise and strategic partnerships. These players are actively investing in research and development to introduce innovative features and stay ahead in the competitive landscape. In terms of potential growing countries, the Baltic states, including Estonia, Latvia, and Lithuania, are emerging as hotspots for DFM market expansion. The strategic location and the focus on digitalization in these countries make them attractive for both regional and international freight management solutions.
Major Vendors in the Europe Digital Freight Matching Market:
- C.H. Robinson Worldwide, Inc.
- Cargomatic Inc.
- Convoy, Inc.
- Dachser
- Flexport
- Forto
- Freight Technologies, Inc.
- Full Truck Alliance Co. Ltd.
- iLoq Logistics
- InstaFreight
- LoadDelivered
- Redwood Logistics (AEA Investors LP)
- Sennder Technologies
- Shippeo
- Transporeon
- Uber Freight
- Webtrans
- XPO, Inc.
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Increased demand for efficiency and cost reduction
The growing demand for efficiency and cost reduction is a significant driver in the digital freight matching market. Businesses operating in the freight and logistics industry are increasingly seeking ways to enhance operational efficiency while simultaneously reducing costs. Digital freight matching (DFM) addresses these demands by leveraging technology to optimize the matching of freight shippers with carriers, creating a more streamlined and cost-effective supply chain. Through advanced algorithms, real-time data, and automation, DFM platforms enable quicker and more accurate matching of available freight with suitable carriers, eliminating inefficiencies associated with traditional manual processes. This leads to reduced idle time for trucks, minimized fuel consumption, and overall improved resource utilization, contributing to cost savings. DFM facilitates better route planning, load optimization, and improved visibility into the supply chain. This enhanced efficiency not only reduces operational costs but also enables companies to provide more competitive pricing and services, meeting the expectations of both shippers and carriers in the digital freight matching market. As the industry continues to prioritize efficiency and cost-effectiveness, the adoption of digital freight matching solutions is expected to rise.
Market Dynamics
Drivers:
- Increased demand for efficiency and cost reduction
- Growing e-commerce market
Opportunities:
- Expansion into new market segments
- Integration with smart logistics solutions
Integration with smart logistics solutions
This integration involves leveraging advanced technologies and data-driven approaches to streamline and optimize various aspects of freight matching and logistics operations. Smart logistics solutions play an essential role in providing real-time visibility, predictive analytics, and automation in the freight ecosystem. By seamlessly integrating these solutions into the digital freight matching process, businesses can achieve improved transparency, reduced costs, and enhanced decision-making capabilities. This integration enhances overall operational agility and responsiveness, allowing stakeholders to adapt swiftly to dynamic market conditions and meet customer demands more effectively in the digital freight matching landscape.
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The Digital Freight Platforms Segments is anticipated to hold the Largest Market Share during the Forecast Period
The widespread presence of digital platforms (DPs) across various industries has given rise to disruptive platform-based business concepts in the road freight market, facilitating the digitalization of road freight transport management (RFTM). The multifaceted data-driven service capabilities of DPs play a important role in supporting RFTM, offering opportunities to explore emerging digital business concepts aligned with the core processes of transport management systems (TMSs). Particularly, road freight operators engaged in the transport management process are increasingly compelled to embrace customer-centric RFTM through DPs to stay profitable and competitive in a fragmented business landscape.
Segmentations Analysis of Europe Digital Freight Matching Market: -
- By Platform Type
- Freight Brokerage Platforms
- Freight Exchange Platforms
- Digital Freight Platforms
- By Business Model
- Subscription-Based Models
- Transaction-Based Models
- Premium Models
- By Application
- Truckload (TL) Freight Matching
- Less-Than-Truckload (LTL) Freight Matching
- Intermodal Freight Matching
- By End Users
- Shippers
- Carriers
- Third-Party Logistics Providers
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