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Freight Management System Market size was valued at USD 25.5 billion in 2022, USD 28.08 million in 2023 and is projected to grow USD 55.18 billion by 2031, growing at a CAGR of 10.13% in the forecast period (2024-2031).

In order to extend their product lines, major market players are substantially investing in research and development, which will propel further growth in the goods management system market. In addition, market participants are engaging in a range of strategic endeavours aimed at broadening their market reach. Notable events in this regard include the introduction of new products, contractual agreements, mergers and acquisitions, increased investment levels, and cooperation with other entities. In order to grow and thrive in a more competitive and developing market environment, the goods management system sector needs to provide affordable products. 'MercuryGate (U.S.)', 'SAP (Germany)', 'Accenture (Ireland)', 'JDA Software (U.S.)', 'Ceva Logistics (Spain)', 'UPS (U.S.)', 'C.H. Robinson TMC (U.S.)', 'Riege Software (Germany)', 'Retrans (U.S.)', 'BluJay Solutions (U.K.)', 'McLeod Software (U.S.)', 'Linbis (U.S.)', 'DreamOrbit (India)', 'Manhattan Associates (U.S.)', 'Descartes, Magaya Corporation (U.S.)', 'ImageSoft (Australia)'

One of the main reasons driving the growth of the goods management systems market is the fact that some nations have implemented free trade policies, which has resulted in significant expansion in the import and export business. Numerous transportation businesses have enhanced their delivery capacities by implementing this technology, which has fuelled industry expansion. The market for goods management systems is being driven by the acceleration of international trade.

Rising Popularity of IoT in Every Market: Moving cargo via a network from its origin to its needed destination while utilizing a variety of transportation methods, middlemen, and technologies is known as freight management. Technology, supply chain and logistics tools, physical assets like distribution centers, transporters, and warehouses are all used in the process of transferring goods efficiently. Getting items delivered on time, to the right place, in the right quantity, undamaged, and for the best price has always been essential to business operations.

Due to the region's growing population and faster rates of goods transportation, the Asia Pacific goods management system market will dominate. Over the course of the projection period, this aspect supports the market's expansion. The second-largest market share is held by the goods management system market in Europe. As trade is increasing, cut down on time-in-transit and focus on supply chain visibility. Efficient goods movement is one of the most important aspects of an economy. Due to factors like growing globalization, population growth, and rising demand for products, shipping firms have been urged to select commodities management systems over the past ten years in order to maintain the security and effectiveness of their operations.

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Global Freight Management System Market

Product ID: SQMIG20R2041