Market Size –
The managed transportation services market size has grown rapidly in recent years. It will grow from $11.03 billion in 2023 to $13.03 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. The growth in the historic period can be attributed to growth in e-commerce, rising fuel costs, rise in transportation management costs, growing demand for flexibility in transportation solutions, and growth in transportation network optimization.
The managed transportation services market size is expected to see rapid growth in the next few years. It will grow to $25.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to rising demand for real-time freight visibility, rising demand for efficient route planning solutions, growing demand for scalable transportation solutions, increasing investment in digital transformation initiatives, rising demand for enhanced customer service. Major trends in the forecast period include technological advancements, adoption of artificial intelligence and machine learning, real-time tracking, omnichannel logistics, and integration of blockchain technology.
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Scope Of Managed Transportation Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The flourishing manufacturing sector is expected to propel the growth of the managed transportation services market in the near future. This sector includes industries and businesses engaged in transforming raw materials, components, or parts into finished products through the use of machinery, tools, and labor. The growth in manufacturing is attributed to the adoption of automated systems and robotics, global trade agreements, improved international relations, and the enhancement of transportation infrastructure. Managed transportation services play a vital role in manufacturing by offering expertise, technology, and strategic solutions that optimize transportation and logistics operations. This leads to cost savings, improved efficiency, enhanced visibility, and better risk management, ultimately contributing to the competitiveness and success of manufacturing enterprises. For example, Statistics Canada reported in February 2023 that sales in Canada’s manufacturing sector saw a 17.9% increase, reaching $850.9 billion in 2022. Thus, the expanding manufacturing sector is driving growth in the managed transportation services market.
Market Trends –
Major companies operating in the managed transportation services market are focused on developing innovative technologies, such as visual AI technology, to optimize logistics operations. Visual AI technology encompasses artificial intelligence systems that process and analyze visual information from images or videos to extract insights or execute tasks autonomously. For instance, in January 2024, RXO Inc., a US-based company that provides transportation solutions, launched AI-powered truck check-in technology for warehouses and distribution centers. The technology leverages advanced artificial intelligence to automate and streamline the truck check-in process, significantly reducing wait times and improving operational efficiency. It includes features such as real-time vehicle recognition, automated scheduling, and dynamic dock assignment to optimize the flow of incoming and outgoing shipments. The system integrates with existing warehouse management software, providing seamless data transfer and real-time updates on truck status.
The managed transportation services market covered in this report is segmented –
1) By Service Type: Planning And Optimization, Execution And Operations, Freight Audit And Payment, Reporting And Analytics, Consulting Services
2) By Application: Roadways, Railways, Waterways, Airways
3) By End Use Industry: Manufacturing, Retail, Healthcare And Pharmaceuticals, Food And Beverages, Automotive, E-Commerce, Other End Use Industries
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Regional Insights –
Asia-Pacific was the largest region in the managed transportation services market in 2023. The regions covered in the managed transportation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are UPS Supply Chain Solutions, FedEx Supply Chain, Oracle Corporation, Kuehne + Nagel International AG, SAP SE, C.H. Robinson Worldwide Inc., Expeditors International of Washington Inc., J.B. Hunt Transport Services Inc., GEODIS, Ryder Systems Inc., Schneider National Inc., GlobalTranz, XPO Logistics Inc., Penske Logistics, Livingston International, Descartes Systems Group, Uber Freight LLC, MIQ Logistics, Aptean, Practical Law, Endicia, CLX Logistics LLC, Amber Road Inc., BluJay Solution, DHL Supply Chain, Supply Chain Brain
Table of Contents
1. Executive Summary
2. Managed Transportation Services Market Report Structure
3. Managed Transportation Services Market Trends And Strategies
4. Managed Transportation Services Market – Macro Economic Scenario
5. Managed Transportation Services Market Size And Growth
…..
27. Managed Transportation Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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