Global Cargo Management Systems Market To Reach $ 14.3 Billion By 2026
SAN FRANCISCO, August 11, 2021 / PRNewswire / – A new market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Cargo Management Systems – Global Market Trajectory and Analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 9; Posted: May 2021
Executive pool: 27546
Companies: 120 – Players covered include 3Gtms, Inc .; Accenture Plc; Agility Public Warehousing Company KSCP; BluJay Solutions Ltd. ; Ceva Logistics; DB Schenker; DreamOrbit Softech Pvt Ltd; DSV Panalpina A / S; Freight management inc; FreightView; Geodis; Imagesoft; Kuebix – A Trimble company; Linbis, Inc .; Magaya Company; McLeod Software Corporation, Inc .; Oracle Corporation; ReTrans, Inc .; Riege Software International GmbH; SAP SE; The Descartes Systems Group Inc .; United Parcel Service of America, Inc; Werner Enterprises; 3Gtms, Inc .; Accenture Plc; Agility Public Warehousing Company KSCP; BluJay Solutions Ltd. ; Ceva Logistics; DB Schenker; DreamOrbit Softech Pvt Ltd; DSV Panalpina A / S; Freight management inc; FreightView; Geodis; Imagesoft; Kuebix – A Trimble company; Linbis, Inc .; Magaya Company; McLeod Software Corporation, Inc .; Oracle Corporation; ReTrans, Inc .; Riege Software International GmbH; SAP SE; The Descartes Systems Group Inc .; United Parcel Service of America, Inc; Werner Enterprises and others.
Blanket: All major geographies and key segments
Segments: Component (Solutions, Services); Mode (road freight, rail freight, ocean freight, air freight); End use (third party logistics (3PL), freight forwarders and brokers, shippers, carriers)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Cargo Management Systems Market To Reach $ 14.3 billion by 2026
Cargo management refers to the process involving the efficient movement of cargo over a network from the point of origin to the desired destination using various modes of transportation and technologies. The process involves the use of logistics and supply chain capabilities, distribution centers, warehouses and technology to move freight efficiently at lower cost. Cargo Management System refers to the SaaS platform that allows the user to access important tasks in sourcing and managing shipping services. The system can be used for full load, partial load (LTL), multimodal, intermodal and parcel services. The cargo management system facilitates the automation and monitoring of inbound and outbound freight shipments via various modes including air, rail, road and sea. The solution allows the user to compare different carrier rates, select the ideal carrier that meets the requirements, and manage the entire freight process, from documentation to real-time shipment tracking.
Amid COVID-19 Crisis, Global Cargo Management Systems Market Is Estimated At US $ 10.1 billion in 2020, is expected to reach a revised size of US $ 14.3 billion by 2026, with a CAGR of 6.2% over the analysis period. Solutions, one of the segments analyzed in the report, is expected to register a CAGR of 5.8% and reach 8.6 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Services segment is readjusted to a revised CAGR of 6.7% for the next 7 year period.
The US market is estimated at $ 3.5 billion in 2021, when China is expected to reach $ 1.5 billion by 2026
The United States Cargo Management Systems market is estimated at US $ 3.5 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 1.5 billion by 2026, with a CAGR of 8.7% over the analysis period. Other notable geographic markets include Japan and Canada, each forecasts growth of 3.7% and 6.3% respectively during the analysis period. In Europe, Germany is expected to grow by about 5.6% CAGR.
The market is expected to show notable performance due to the high demand for these solutions and services due to increasing global trade, the need to reduce transit time and focus on supply chain visibility. . One of the most critical aspects of an economy is the efficient movement of goods. Over the past decade, factors such as rapid globalization, increasing population and increasing demand for cargo have encouraged shipping lines to opt for cargo management solutions to ensure efficient and safe shipping. their operations. Organizations are increasingly using these systems to streamline supply chain operations, maintain security, and make the shipping process more efficient. In addition to providing users with high visibility to save time and costs, these tools allow organizations to book orders, explore different modes of transportation, find suitable carrier rates, negotiate rates with carriers. , to request quotes on site and to follow shipments in real time. Organizations also use cargo management systems to improve warehouse efficiency.
Global growth is also fueled by the need to improve supply chain visibility, accelerate transit time and customer satisfaction while reducing logistics costs. Market growth is driven by advancements in safety, security and freight transportation tools as well as adoption of IoT and advanced communication technologies. While cross-border business risks and crowded trade routes remain major challenges, the availability of advanced freight management modules and the growing emphasis on on-time delivery are driving the market. The market is benefiting from the increase in global trade which prompts various trade organizations to consider an open door policy to encourage trade without tax barriers. Businesses are taking advantage of regulatory loosening and business incentives to expand their footprint into new geographies. On the other hand, fierce competition prompts companies to focus on product innovation to help users achieve increased efficiency. Following
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