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Freight Brokerage Market Share

Report ID: GMI8036
Published Date: Feb 2024
Report Format: PDF

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Freight Brokerage Market Share

C.H. Robinson Worldwide, Inc., Total Quality Logistics, LLC and XPO, Inc. hold a significant market share of over 10% in the freight brokerage industry. Companies in the freight brokerage industry employ diverse strategies to fortify their positions. Technological integration plays a pivotal role, with firms investing in advanced digital platforms, automation, and data analytics to enhance operational efficiency and provide real-time visibility. Establishing extensive networks is another crucial strategy, enabling companies to connect shippers with a broad range of carriers, thereby expanding service offerings.

Many also focus on scalability, adapting to market dynamics, and accommodating the evolving needs of clients. Moreover, strategic partnerships and acquisitions are common, fostering growth and diversification. Additionally, a commitment to sustainability and compliance with regulations ensures long-term resilience and fosters customer trust, contributing to the overall strengthening of companies' positions in the competitive freight brokerage landscape.

Freight Brokerage Market Companies

Major companies operating in the freight brokerage industry are:

ArcBest Corporation
BNSF Logistics LLC
C.H. Robinson Worldwide, Inc.
Coyote Logistics
Echo Global Logistics, Inc.
England Logistics
GlobalTranz
Hub Group, Inc.
J.B. Hunt Transport, Inc.
Kenan Advantage Group
Landstar System, Inc.
Mode Transportation
Schneider National, Inc.
Total Quality Logistics, LLC
Uber Technologies, Inc. (Transplace)
Worldwide Express
XPO, Inc.
Yusen Logistics (Americas) Inc.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of freight brokerage reached USD 51.7 billion in 2023 and is set to witness 6% CAGR from 2024 to 2032, owing to the rise of e-commerce that has led to an increased demand for efficient and flexible freight solutions.

The B2B segment accounted for a market share of around 58% in 2023, due to the preference among businesses for the flexibility and cost-effectiveness offered by freight brokers in navigating complex supply chains.

North America market share was over 32% in 2023, attributed to the e-commerce boom, coupled with the need for streamlined and cost-effective freight management.

ArcBest Corporation, BNSF Logistics LLC, C.H. Robinson Worldwide, Inc., Coyote Logistics, Echo Global Logistics, Inc., England Logistics, GlobalTranz, Hub Group, Inc., J.B. Hunt Transport, Inc., Kenan Advantage Group, Landstar System, Inc., Mode Transportation, Schneider National, Inc., Total Quality Logistics, LLC, Uber Technologies, Inc. (Transplace), Worldwide Express, XPO, Inc., and Yusen Logistics (Americas) Inc.