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Digital Freight Brokerage Market Size

Report ID: GMI11522
Published Date: Sep 2024
Report Format: PDF

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Digital Freight Brokerage Market Size

The global digital freight brokerage market size was valued at USD 4.2 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032. The rapid digitalization of the logistics industry, coupled with the growing demand for efficient and transparent freight transport management solutions, is driving the market's growth. Digital freight brokerage platforms are revolutionizing the traditional logistics landscape by leveraging advanced technologies to connect shippers with carriers more effectively.

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The COVID-19 pandemic has accelerated the adoption of digital solutions in the freight industry. As businesses sought to optimize their supply chains and reduce physical interactions, digital freight brokerage platforms emerged as crucial tools for maintaining operational efficiency. Companies in the digital freight brokerage industry are increasingly pursuing strategic acquisitions and partnerships to expand their capabilities and market reach. For instance, in June 2024, NFI, a leading supply chain solutions provider, acquired Transfix's freight brokerage operation. This strategic move highlights the industry's shift towards more integrated and technologically advanced logistics solutions.

Digital Freight Brokerage Market Report Attributes
Report Attribute	Details
Base Year:	2023
Digital Freight Brokerage Market Size in 2023:	USD 4.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5%
2032 Value Projection:	USD 6.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	210
Tables, Charts & Figures:	290
Segments covered:	Transportation Mode, Service, Platform, Application, End-User
Growth Drivers:	Rapid digitalization of logistics industry Growth of e-commerce sector Demand for supply chain visibility and efficiency Advancements in AI and machine learning technologies
Pitfalls & Challenges:	Data security and privacy concerns Resistance to technological adoption within the traditional logistics sector

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Authors: Preeti Wadhwani, Pramod Borasi

Frequently Asked Questions (FAQ) :

The market size of digital freight brokerage reached USD 4.2 billion in 2023 and is set to grow at a CAGR of over 5% between 2024 and 2032, fueled by technological advancements and the need for more transparent logistics processes.

The roadway segment dominated the market in 2023, with a valuation of over USD 2 billion, benefiting from its flexibility, accessibility, and the integration of technologies like GPS tracking and Electronic Logging Devices (ELDs).

North America dominated the global market in 2023, accounting for over 35% of the market share, supported by the region

Major players in the market include Bluegrace Logistics, C.H. Robinson Worldwide, Coyote Logistics, DAT Solutions, Echo Global Logistics, Loadsmart, Redwood Logistics, Transfix, Uber Freight, and XPO Logistics.