Cargo Transportation Market Forecast Opportunities, Trends by Manufacturers

Cargo Transportation Market Forecast 

The global cargo transportation market is growing continually. Market growth attributes to the rising need to create the highest levels of confidence around cargo transportation and visibility from order to cargo deliverance processes. Logistic businesses worldwide are flourishing with rapid digitization and automation. Growing uses cargo transportation services across industries, and logistic businesses escalate the market growth.

With the rising export-import trades and shipment & courier business globally, the market is projected to perceive substantial traction in the recent future. In this regard, Market Research Future (MRFR) states that the global Cargo Transportation Market is expected to garner significant gains by 2026, growing at a 6.8% CAGR during the review period (2020 – 2026).

Advances in Technologies and Production & Manufacturing Processes Scale-up Cargo Transportation Market 

Additionally, the rising need for improved productivity, performance and security of logistics-intensive businesses bolster the growth of the market. Logistics service providers (LSPs) that find it difficult to shell out high transportation costs and an inferior customer experience create substantial market demand. Increasing adoption of cargo transportation services to plan, allocate, and execute shipments, push the market shares.

Furthermore, the rising demand for software-as-a-service solutions to route, schedule, track, and measure delivery resources boosts market size. Forward-looking companies constantly think about creating value with innovations that can take customer experience to the next level. Increasing demand for advanced solutions that can monitor the location and other critical cargo parameters like acceleration events pushes the market size further. 

Global Cargo Transportation Market - Segmentation

The report is segmented into types, shipment categories, applications, and regions. The type segment is sub-segmented into rail transportation, road transportation, air transportation, and sea transportation. 

The shipment category segment is sub-segmented into freight, parcel, express, and others. The application segment is sub-segmented into construction & mining, oil & gas, healthcare, food & beverages, and others. The region segment is sub-segmented into North America, Europe, Asia Pacific, and the Rest-of-the-World. 

Global Cargo Transportation Market - Regional Analysis

North America dominates the global cargo transportation market. The largest market share attributes to the increasing industrialization and increasing commercial & military activities in the region. Besides, the rapidly increasing investments and demand for cargo transportation propel the regional market. 

Increasing imports and exports, alongside the huge demand for logistic services, impact the market growth positively. Furthermore, the growing e-commerce industry and huge demand for online shopping in the region fuel the market growth.

Global Cargo Transportation Market - Competitive Analysis 

Highly competitive, the cargo transportation market appears to be fragmented, with several well-established players forming a competitive landscape. These players incorporate strategic approaches such as mergers & acquisitions, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market. These players focus on new product development initiatives and geographical expansion. 

Major Players: 

Players leading the global cargo transportation market include Amerijet International Airlines (US), Crowley Maritime Corporation (US), DSV Panalpina A/S (Germany), Expeditors (US), Bohnet GmbH (Germany), Schumacher Cargo Logistics Inc. (US), APL (US), Orient Overseas Container Line Limited (Hong Kong), Panalpina Welttransport Holding AG (Switzerland), ISDB Logistik GmbH (Germany), Accenture PLC (Ireland), Manhattan Associates (US), and CEVA Logistics (UK), among others.

Industry/ Innovation/ Related News

July 21, 2021 --- Arkema (France), a major specialty materials manufacturer, announced a partnership with Nexxiot AG, a leading digital logistic solutions provider, to revolutionize chemical transportation using sustainable cargo transports. Arkema would now harness Nexxiot logistics digitization capabilities, such as IoT devices and intelligent cloud platforms, to digitize its Isotank (tank container) and rail freight wagon fleet. The partnership would deliver end-to-end visibility for Arkema customers to improve quality standards and transform the overall service experience.

 

Comments

Post a Comment

Popular posts from this blog

From Silicon to Synapses: Neuromorphic Computing's Impact on AI

The anamorphic computing market is expected to be valued at USD 22,743 thousand in 2021 and is expected to reach USD 550,593 thousand by 2026, at a CAGR of 89.1% between 2021 and 2026. The need for better performing ICs, an increase in demand for artificial intelligence and machine learning, and an increasing number of cross-industry partnerships and collaborations are key factors driving the growth of the market. Artificial intelligence (AI) is being adopted in industries such as medical, media, entertainment, telecom, utility, aerospace, military, consumer devices, food & beverages, and piping. A combination of AI systems and machine learning is set to revolutionize the business environment with smart decisions. However, lack of knowledge about xeromorphic computing and complex algorithms increasing the complexity of designing hardware of endomorphic chips can act as a major challenge in the market during the forecast period. Intel dominated the anamorphic computing market Corp.
Read more

Cobots on the Rise: Collaborative Robots Powered by Artificial Intelligence

Image
  The integration of Artificial Intelligence (AI) in the manufacturing sector has brought about a transformative paradigm shift, revolutionizing traditional processes and ushering in the era of Industry 4.0. Artificial intelligence in manufacturing market has witnessed substantial growth, driven by the increasing demand for efficiency, precision, and automation across diverse manufacturing industries. One of the key drivers propelling the growth of AI in manufacturing is the pursuit of operational excellence. Manufacturers are leveraging AI technologies, including machine learning, computer vision, and robotics, to optimize production processes, enhance productivity, and reduce operational costs. AI-powered predictive analytics, for instance, allows manufacturers to anticipate equipment failures and schedule maintenance proactively, minimizing downtime and maximizing overall equipment effectiveness (OEE). Quality control is another critical area where AI is making significant inroads
Read more

Efficiency Unleashed: The Role of Artificial Intelligence in Modern Manufacturing

Artificial Intelligence In Manufacturing Market size is estimated to be valued at USD 3.2 billion in 2023 and is anticipated to reach USD 20.8 billion by 2028 One of the key drivers of AI in the manufacturing market is the increasing demand for automation and smart manufacturing. AI-powered systems enable manufacturers to automate complex tasks, streamline processes, and optimize production lines. This not only leads to cost savings but also enhances the quality and precision of manufacturing processes. Predictive maintenance is another critical application of AI in manufacturing . By leveraging machine learning algorithms and data analytics, manufacturers can predict when equipment is likely to fail, allowing for proactive maintenance measures. This approach minimizes downtime, reduces the risk of unexpected breakdowns, and extends the lifespan of machinery, ultimately contributing to cost-effectiveness. What is the Global Artificial Intelligence in manufacturing market size? I don’t
Read more