The Asia Pacific Freight Transport Market would witness market growth of 11.4% CAGR during the forecast period (2022-2028).
The freight sector is changing due to the technological implications of the new advanced age of information technology and communication advancements, offering more contemporary freight solutions. The rise in the number of vehicles used for transportation worldwide and the significant acceleration of technological adoption point to future market prospects for freight transportation management solutions.
Additionally, the market for freight transportation management is anticipated to be significantly influenced by environmental concerns, the demand for operational efficiencies, and the safety and security of freight operations. There are numerous strategies to reduce transportation expenses in the logistics and freight transportation fields. Consolidating transportation is one approach.
By swapping out large shipments for tiny ones, it is possible to benefit from transportation economies of scale. The process of moving products, goods, and cargo through land, water, or air is known as freight shipping. Truckload, less than truckload (LTL), and intermodal are typical forms of freight shipping over the road. The items that are transported by truck, ship, train, or airplane are referred to as freight.
During the projected period, Asia-Pacific (APAC) is anticipated to dominate the market. The region's road freight transportation market is anticipated to increase as a result of the region's growing population and the welcoming government policies in nations like China and India regarding e-commerce and other businesses. Additionally, the region's developing nations are making significant investments in port construction to increase cargo handling. For instance, more than 90% of India's trade, measured in terms of volume, is carried out by sea, as per the Ministry of Shipping (Government of India).
The China market dominated the Asia Pacific Freight Transport Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,439.8 million by 2028.The Japan market is experiencing a CAGR of 10.7% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 12% during (2022 - 2028).
Based on Offering, the market is segmented into Services and Solution. Based on Solution Type, the market is segmented into Freight Security & Monitoring System, Fleet Tracking & Maintenance Solution, Warehouse Management System, Freight Information Management System, Freight Transportation Cost Management, Freight Mobility & Operational Management Solutions and Freight 3PL Solution. Based on Mode of Transport, the market is segmented into Roadways, Railways and Seaways & Airways. Based on Vertical, the market is segmented into Retail & E-commerce, Automotive, Aerospace & Defense, Pharmaceuticals, Energy and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Freight Transport Market is Projected to reach USD 57.1 Billion by 2028, at a CAGR of 10.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include C.H. Robinson Worldwide, Inc., Deutsche Post DHL Group (The Deutsche Post AG), FedEx Corporation, Kuehne + Nagel International AG (Kuehne Holding AG), United Parcel Service, Inc., SAP SE, Oracle Corporation, Schneider National, Inc., DSV A/S, and Nippon Express Co., Ltd.
By Offering
By Mode of Transport
By Vertical
By Country
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