Freight Procurement Solutions Market - Introduction

  • Freight procurement solutions provide freight automation by comparing different carrier types, mode, capacity, and services offered by logistics partners on a single.
  • Freight procurement solutions are required by companies who outsource their freight transportation services.
  • Freight sourcing is a long and complex process, which includes obtaining rates from multiple carriers, comparing the best carrier option offering the best prices, and analyzing the quality services along with the time required for freight delivery. Freight procurement solutions ensure best supply chain and logistics partners at lowest cost.
  • Increased complexity in the supply chain process due to growing international trade is one of the most important factors fueling the demand for freight procurement solutions.
  • Lack of knowledge about its usage by small companies is expected to restrain the market growth.
freight procurement solutions market

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Key Drivers of the Freight Procurement Solutions Market

Continuous increase in transportation cost projected to drive the demand for freight procurement solutions

  • Continuous increase in transportation cost is one of the most important factors responsible for the growth of the freight procurement solutions market. Growth in international trade has created an imbalance in supply and demand for freight transport services and resulted in increased oil prices.
  • A huge shift has taken place in the supply chain of various industries. End-users need to optimally utilize the best mode of transportation, while keeping the cost as low as possible.
  • Freight procurement solutions allow the users to compare different carriers, rates, and other important factors considered in managing the supply chain, and ensures that the best possible carrier is chosen at best rates.

Complexity of operations in supply chain management to fuel the demand for freight procurement solutions

  • Another factor expected to fuel the freight procurement solutions market is the growing complexity of supply chain management.
  • The changing rules and regulations pertaining to international trade, taxation policies, and availability of numerous service providers makes it difficult to maintain the supply chain manually and keep the records updated.
  • Freight procurement solutions help in maintaining updated records of supply chain partners and analyzes the gap in the supply chain, thus simplifying the freight procurement process.

North America to dominate the global freight procurement solutions market

  • North America is expected to account for notable share of the global freight procurement solutions market during the forecast period.
  • This dominance is primarily due to the presence of numerous industries in North American countries.
  • The market in the U.S. is projected to expand at a considerable pace during the forecast period, which in turn is anticipated to drive the freight procurement solutions market in the region.

Freight procurement solutions market in Asia Pacific to expand significantly

  • The freight procurement solutions market is expected to expand at the highest rate in the Asia Pacific region
  • This is due to the continuous growth in trade. Also, growth of e-commerce in this region is expected to drive the demand for freight procurement solutions to a great extent in the forthcoming years.
freight procurement solutions market 1

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Freight Procurement Solutions Market - Competition Landscape

The top five players are expected to account for 20% to 25% share of the global freight procurement solutions market. A few of the key players operating in the global freight procurement solutions market include:

  • Jaggaer
  • TRANSPOREON Group Americas Inc.
  • Alpega Group
  • MercuryGate International, Inc.
  • Enterprise System Solutions Pvt. Ltd.
freight procurement solutions market 2

Global Freight Procurement Solutions Market - Research Scope

Global Market, by Industry  

  • Agriculture
  • Retail
  • FMCG Manufacturing
  • Food & Beverage
  • Oil &  Gas
  • Aerospace & Defense
  • Energy & Utility
  • Consumer Electronics
  • Chemical & Materials
  • Others

Global Freight Procurement Solutions Market, by Region

  • North America
  • Europe
  • Middle East & Africa (MEA)
  • Asia Pacific
  • South America

Alternate Keywords:

  • Just-in-time delivery
  • Freight management
  • Spot freight procurement

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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  • Market trends and dynamics
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  • Market size
  • Current trends/opportunities/challenges
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  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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
  • Europe
  • 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.

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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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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