The Global Freight Forward Market to grow from USD 15,180.31 Million in 2019 to USD 23,483.42 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 7.54%.
Market Segmentation & Coverage:
The research report categorizes the Freight Forward Market to forecast the revenues and analyze the trends in each of the following segments:
Based on Services, the Freight Forward Market studied across Customs Clearance, Import Documentation, Insurance, International Export, Inventory Management, Packing, and Storage.
Based on Mode of Transportation, the Freight Forward Market studied across Air Freight Forwarding, In-Road Forwarding, and Sea Freight Forwarding.
"The Asia-Pacific is projected to witness the highest growth during the forecast period"
Based on Geography, the Freight Forward Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded the largest size in the Freight Forward Market in 2019, followed by the Europe, Middle East & Africa. On the other hand, the Asia-Pacific expected to grow at the fastest CAGR during the forecast period, followed by the Europe, Middle East & Africa.
The factors attributing to the growth of the market are increasing need to reduce costs and economically manage logistics of transportation., need to coordinate the shipment of goods from one place to another via a single or multiple carrier, increasing demand for fright specific value added extra services, and third-party required to handle ancillary services such as insurance and custom documentation that are part of the international shipping business. However, some factors such as shipping restrictions and frustrating shipping delays may hinder the market growth. The Freight Forward Market expected to showcase the opportunities such as increasing amalgamation activity in the space, round the clock customer support, and digitization and technology adoption to ensure continuous product tracking. Soon market may face the possible challenges in the growth due to unidentified product damages and loss of fright and increasing pricing pressure. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the market.
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.
360iResearch Competitive Strategic Window:
The 360iResearch Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.
360iResearch FPNV Positioning Matrix:
The 360iResearch FPNV Positioning Matrix evaluates and categorizes the vendors in the Freight Forward Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Company Usability Profiles:
The Freight Forward Market is highly competitive and characterized by the presence of a large number of international and regional players in the market. The market has witnessed increased competition between vendors based on the pricing model, technology differentiation, brand name, quality of service, price differentiation, and technical expertise.
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Freight Forward Market, including Agility Logistics, Bollore Logistics, C.H.Robinson Worldwide Inc., CEVA Logistics, CJ Korea Express, DACHSER, DB Schenker, Deutsche Post DHL Group, DHL Supply Chain & Global Forwarding, Dimerco, DSV, Expeditors International, GEODIS, Hellmann Worldwide Logistics, Kerry Logistics, Kuehne + Nagel International AG, Nippon Express Co., Ltd., Sinotrans, UPS Supply Chain Solutions, and Yusen Logistics/NYK Logistics.