Global Intermodal Freight Transportation Market: Snapshot
The global market for intermodal freight transportation, with the possibility of integrating multiple modes of transport, provides a flexible option for effectively handling the changing requirements of supply chain management in global markets. The market is witnessing the influence of information and telecommunication technologies in the form of the increased level of integration of supply chain processes and the modes supporting them. The sector is also increasingly shifting its focus from primarily on the effective maintenance of infrastructure components to processes and systems, becoming more viable and gaining more prominence across a number of new application sectors.
There has been a massive rise in trailer and container traffic across global railroads over the past few decades and intermodal freight transportation continues to play a significant role in the movement of freight in present times as well. With the significant rise in global imports and exports and an overall rise in regional, domestic, as well as international logistics, the global market for intermodal freight transport is expected to witness a significant rise in growth avenues in the next few years.
The market could witness massive growth opportunities in developing economies across regions such as Asia Pacific and Latin America owing to the increased focus on development of intermodal infrastructure to complement the expanding supply chains and thriving industrial sector. The market could also benefit from the rising globalization of small and large businesses from distant corners of the globe.
Intermodal freight transportation which is an important part of freight management mainly involves use of two or more modes that aims at moving a shipment from original position to the assigned destination. Intermodal freight transportation and intermodal passenger transportation are two types of intermodal transportation. Intermodal freight transportation market mainly deals with transportation of freight in a vehicle or intermodal container which makes use of multiple transportation modes that includes ship, truck and rail. With the globalization of trade, various modes of transportation have changed from the traditional transportation that was done only through huge vehicles and truck. Currently, the shippers require more high capacity, safe and flexible transportation options. Hence, due to globalization, various companies are trading at international scale and thousands tons of various products are transported all over the world. Therefore, to transport such huge amount of product, a safe and reliable transportation mode is required. Hence intermodal transportation mode finds it application as it fulfills these requirements because majority of transportation is done via railways which are not only safe but reliable. Freight transportation forms an important part in the development of any economy. In addition, the freight transportation system has evolved due to various technological advancements which includes liquid threat scanners, containerization, route manage optimizers and vehicle tracking among others.
Global Intermodal Freight Transportation market has been segmented on the basis of solution, service, mode and end user industry. By solution, the market is further bifurcated into freight security, fleet management, intermodal terminals, intermodal dispatch, warehousing and others .On the basis of service, the market is segmented into customization, managed and consulting services. By mode segment is further bifurcated into Truck–Air, Truck–Water, Truck–Rail and others. End user segment is further segregated into oil and gas, aerospace and defense, industrial and manufacturing, construction, chemical, food and beverages, healthcare and others. Need of more safe, reliable and efficient transportation system is boosting the demand of global Intermodal Freight Transportation market. Efficient transportation system aims at decreasing the time spent on freight management which in turn can be invested in carrying out the warehouse duties more efficiently. Rising trend of containerization is another factor driving the global Intermodal Freight Transportation market as containerization facilitates easy handling of goods. However, growth in domestic intermodal transportation market followed by free trade agreements is other factors driving the global Intermodal Freight Transportation market. Lack of intermodal transportation training and knowledge followed by reluctance in adopting new ways of transportation are acting as restraining factors in the growth of global Intermodal Freight Transportation market. Shippers now days are focusing on developing Geospatial Intermodal Freight Transportation (GIFT) which serves as opportunity for the global Intermodal Freight Transportation market. In addition, evolution of multimodal transportation is also acting as an opportunity factor in the growth of global Intermodal Freight Transportation market
Geographically, global Intermodal Freight Transportation market has been segmented into North America, Europe, Asia Pacific, Middle- East and Africa (MEA) and Latin America. In 2016, North America held the largest share of the Intermodal Freight Transportation market owing to increase in transportation by railroad which is the most convenient mode of intermodal transport for freight .The U.S is the largest contributor in this regional market. Europe is expected to be the fastest growing market for global Intermodal Freight Transportation owing to the rapid adoption of intermodal freight transportation in this region. All these factors are expected to increase the demand of Intermodal Freight Transportation market during the forecast period from 2017- 2025.
The major players operating in the global Intermodal Freight Transportation market includes Aljex Software, Inc(The U.S) ,GE Transportation(The U.S) , Cognizant (The U.S) , Trinium Trucking Systems (IAS) (The U.S) , Motorola Solutions, Inc. (The U.S) , Wisetech Global(Australia), Maersk Line(Denmark), DHL(Germany), TMW Systems, Inc(The U.S) and JB Hunt Transport (The U.S) among others.
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.
2. Insights and Tools
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?
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.