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On-demand Trucking Market Size

Report ID: GMI11950
Published Date: Oct 2024
Report Format: PDF

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On-demand Trucking Market Size

The global on-demand trucking market size was valued at USD 7.1 billion in 2023 and is projected to grow at a CAGR of 15.7% between 2024 and 2032. The global expansion of e-commerce platforms significantly drives the growth of the market by increasing the demand for flexible, efficient, and scalable logistics solutions. E-commerce businesses require fast and reliable delivery services to meet customer expectations for same-day or next-day deliveries, particularly for last-mile logistics.

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In March 2022, the International Monetary Fund (IMF) issued a report on the increased consumer expenditure online. It indicated that the proportion of total online spending surged from 10.3% in 2019 to 14.9% during the height of the pandemic. Presently, this share remains higher than pre-pandemic levels in roughly half of economies, spanning from prominent emerging markets like Brazil and India to various middle-income nations such as Bahrain and Jamaica.

On-demand Trucking Market Report Attributes
Report Attribute	Details
Base Year:	2023
On-demand Trucking Market Size in 2023:	USD 7.1 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	15.7%
2024 – 2032 Value Projection:	USD 25.8 Billion
Historical Data for:	2021-2023
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	Service, Truck, Freight, Location Outlook, Booking Platform, Industry Vertical
Growth Drivers:	The expansion of e-commerce platforms globally The growing urban population and expanding infrastructure Technological advancements in GPS tracking, telematics, and mobile apps Higher cost advantages by enabling businesses to optimize routes and reduce empty miles
Pitfalls & Challenges:	High operational costs Global shortage of skilled truck drivers

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On-demand trucking platforms enable e-commerce companies to manage fluctuating delivery volumes efficiently without maintaining dedicated fleets. Additionally, on-demand trucking offers real-time freight matching and tracking, ensuring transparency in shipping times and costs. The ability to dynamically scale transport capacity based on market demand makes on-demand trucking ideal for the growing e-commerce sector, fueling the market's expansion across regions.

Moreover, urbanization and infrastructure expansion significantly drive growth in the on-demand trucking market. As cities expand, the demand for efficient transportation solutions increases, particularly for last-mile deliveries in densely populated areas. The rise of e-commerce and consumer expectations for fast delivery further amplify this need. Urban development also drives the demand for construction materials, increasing freight movement and necessitating flexible trucking solutions.

The expansion of smart city projects and modern infrastructure such as roads, bridges, and industrial zones further boosts the need for efficient, scalable, and real-time trucking services. On-demand trucking platforms are well-positioned to meet these growing logistics demands with greater flexibility and responsiveness.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of on-demand trucking reached USD 7.1 billion in 2023 and is set to grow at a 15.7% CAGR from 2024 to 2032, driven by the global expansion of e-commerce platforms.

The light-duty trucks segment accounted for over 40% of the market share in 2023, led by their versatility and crucial role in urban logistics, especially for last-mile deliveries.

The mobile apps segment held around 68% of the market share in 2023, due to their convenience, real-time connectivity, and widespread smartphone usage.

The North America market accounted for 35% of the revenue share in 2023 and is expected to exceed USD 10 billion by 2032, propelled by advancements in digital freight platforms and a booming e-commerce sector.

Major players in the industry include C.H. Robinson, Convoy, DHL Supply Chain, Flexport, Flock Freight, J.B. Hunt Transport, Loadsmart, Schneider National, Uber Freight, and XPO Logistics.