Freight Management System Market Size to Reach USD 60.77 Billion, With a CAGR of 10.13% CAGR by 2032 – Report by Market Research Future (MRFR)
Research Reports
Jun 19, 2023
Market Research Future Insights
According to MRFR analysis, the Freight Management System Market is expected to register a CAGR of~10.13% from 2023 to 2030 and hold a value of over USD 60.77 billion by 2030.
The Freight Management System (FMS) Market refers to the global market for software solutions and services designed to manage and optimize various aspects of freight transportation and logistics operations. It involves the use of technology and automation to streamline and enhance the efficiency of freight management processes, including planning, scheduling, tracking, and documentation.
The increasing globalization of trade has led to a rise in freight transportation volumes, necessitating efficient management systems to handle the growing complexities. The need for real-time visibility and transparency in supply chain operations has driven the demand for advanced tracking and monitoring capabilities provided by FMS solutions.
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The COVID-19 pandemic had a significant impact on the freight management system market. The pandemic has led to supply chain disruptions, capacity constraints, and changes in consumer behavior. As a result, there has been a heightened need for real-time visibility and tracking of shipments to ensure timely delivery, monitor inventory levels, and manage inventory repositioning.
Regional Analysis
The largest region in the Freight Management System (FMS) market is North America. The region has a well-established transportation and logistics industry, advanced infrastructure, and a high degree of technology adoption, making it a significant market for FMS solutions and services.
North America has been at the forefront of technological advancements, particularly in the field of logistics and supply chain management. The region has witnessed early adoption of advanced technologies, such as cloud computing, IoT devices, big data analytics, and automation, which are key components of modern FMS solutions.
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Key Players
Some of the key market players are:
- Trend Micro (Japan)
- Raytheon (US)
- Nubo (US)
- Pulse Secure (US)
- Avast Software (Czech Republic)
- Prescient Solutions (US)
- Sierraware (US)
- Fortinet (US)
- Forcepoint (US)
- IFS (Sweden)
- SAP (Germany)
- Microsoft (US)
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Market Segmentation
The Freight Management System Market has been segmented into transportation mode and end user.
Based on the transportation mode, the market has been segmented into road freight, ocean freight, air freight and rail freight.
Based on the end user, the market has been segmented into third-party logistics, forwarders, brokers, shippers and carriers
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