Cargo Transportation Market: Introduction
- Cargo transportation is freight or shipment transportation that is used to transport cargo from one place to another. Cargo transportation includes transport of goods, raw material, finished products, and other such material between manufacturers, distributors, retailers, and end-users. Budding bilateral trade coupled with revised trade policies are key factors that are anticipated to drive the global cargo transportation market.
- Cargo transportation includes various modes of transportation and requires special equipment, escort, cargo space, permits, machinery, advance agreements, and knowledge. Cargo transportation for roadways includes various types of vehicles such as pick-up trucks, lorry tanks, dry van trucks, flatbed trucks, truck trailers, and refrigerated trucks.
Key Drivers of Cargo Transportation Market
- The efficient movement of cargo transportation is essential to any economy and to the quality of life. Therefore, several players in the cargo transportation market are introducing a cost-effective cargo transportation management system that supports not only large players but also small and local players to compete proficiently at the global arena. This, in turn, is expected to boost the global cargo transportation market.
- Rise in industrialization and expansion of the construction industry are key factors that are estimated to propel the cargo transportation market during the forecast period. Moreover, rapid expansion of transport facilities across the globe, owing to urbanization and technological reforms during the past decade, have fueled the demand for transport of goods and commodities. This, in turn, is expected to propel the cargo transportation market during the forecast period.
- Increased demand for rail transportation is attributed to its advantage over other modes of transportation such as performance, energy consumption, and safety. Advancements in a wide range of rail cargo transportation management solutions designed for small cargo trains, intermodal lines, among others owing to a rise in rail cargo transportation, are anticipated to boost the global cargo transportation market during the forecast period. Major players including DXC Technology and Goal Systems are offering rail cargo transportation management products in order to cater to the expansion of the cargo transportation market.
- Rise in trade among countries around the world and noteworthy import and export owing to globalization are driving the global cargo transportation market, in terms of all means of transport, during the forecast period. However, higher initial capital investments and maintenance of entire cargo transportation and process are projected to hamper the cargo transportation market during the forecast period.
Global Cargo Transportation Market: COVID 19 Impact
- The coronavirus pandemic resulted in forced lockdown of manufacturing and production facilities globally. Therefore, the demand for cargo transportation from construction, automotive industries declined; however, coronavirus pandemic outbreak has prompted consumers across globe to opt for online shopping trends owing to safety concerns. This has increased the demand for cargo transportation from food & beverage and pharmaceutical industries, thereby boosting the market in 2020. The trends towards e-commerce is likely to increase and consequently drive the cargo transportation market globally during the forecast period.
North America to Account for Prominent Share of global Cargo Transportation Market
- In terms of region, the global cargo transportation market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
- North America is anticipated to dominate the global cargo transportation market. The U.S. is estimated to account for a significant share of the market in North America. This major share is attributed to expansion of the retail sector due to majority firms adopting digital business practices and adopting online business channels. Advancements of technology in IT and cloud computing sectors is boosting the cargo transportation market in the U.S.
Key Players Operating in Cargo Transportation Market
The global cargo transportation market is concentrated owing to the presence of prominent transportation service providers. A few key players operating in the global cargo transportation market are:
- Amerijet International
- Crowley Maritime Corporation
- DB Schenker
- Dextra Group.
- Expeditors International
- Global Shipping Services, LLC
- IB Cargo
- ISDB Logistik GmbH
- Lynden STA Logistic
- Orient Overseas Container Line Limited.
- PANALPINA WORLD TRANSPORT (HOLDING) LTD.
- R Group
- Schumacher Cargo Logistics.
- Spedition Bohnet GmbH
- TAD Group
- Zoey Logistics
- Other Key players
Global Cargo Transportation Market: Research Scope
Global Cargo Transportation Market, by Mode of Transportation
- Rail Transportation
- Road Transportation
- Seaborne Transportation
- Air Transportation
Global Cargo Transportation Market, by Deployment
Global Cargo Transportation Market, by Solution
- Transportation Cost Management
- Transportation Security and Monitoring System
- Transportation Mobility Solution
- Warehouse Management System
- Transportation 3PL Solutions
- Other Solutions
Global Cargo Transportation Market, by End-use Industry
- Aerospace and Defense
- Consumer and Retail
- Energy and Power
- Food and Beverage
- Oil and Gas
- Other End User
Global Cargo Transportation Market, by Region
- North America
- Nordic Countries
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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