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

To understand how our report can bring difference to your business strategy, Ask for a brochure

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

Stuck in a neck-to-neck competition with other brands? Request a custom report on “Freight Procurement Solutions Market”

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.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • 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.

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Freight Procurement Solutions Market