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Digital Freight Brokerage Market Trends

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

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Digital Freight Brokerage Market Trends

The rise of e-commerce and the increasing complexity of global supply chains are fueling the demand for digital freight brokerage services. These platforms offer real-time visibility, data-driven insights, and automated processes that help businesses navigate the challenges of modern logistics. Companies are focusing on developing seamless connections between various logistics software platforms to create more comprehensive and user-friendly solutions. For instance, in February 2024, Cargo Chief announced its digital freight matching (DFM) integration with Turvo's collaborative TMS, streamlining the carrier procurement process and boosting efficiency for freight brokers.

Additionally, the increasing focus on mobile-first approach adopted by many digital freight brokerage platforms is further driving market growth. The ubiquity of smartphones has transformed the logistics landscape, enabled real-time communication and on-the-go access for both shippers and carriers. Mobile applications are now offering comprehensive functionalities, from load booking and tracking to digital documentation and instant notifications. This shift towards mobile platforms has particularly benefited small and independent carriers, providing them with tools previously available only to larger fleet operators.

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.