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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.
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.
What is the global digital freight brokerage market value?
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.
Which transportation mode segment dominates the digital freight brokerage industry?
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).
Which region holds the largest share of the global digital freight brokerage market?
North America dominated the global market in 2023, accounting for over 35% of the market share, supported by the region
Who are the key players in the digital freight brokerage industry?
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.