Digital Freight Brokerage Market Report 2024 (Global Edition)

Global Digital Freight Brokerage Market Report 2024 Market Size Split by Platform (Specialized & Generic Marketplaces, Crowd Shipping Platform, Digital Freight Exchange, Tender Platform), by Deploymen...

Digital Freight Brokerage Market Report Description

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Digital Freight Brokerage Market Insights Video

Competitive Landscape of the Digital Freight Brokerage Market

The competitive landscape of the Digital Freight Brokerage market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts.

In October 2023, Parade and Truxx.ai, a major participant in the online freight industry, have established an integrated relationship. By simplifying and improving the freight booking procedure, this partnership will enable freight brokers to use Truxx.ai's cutting-edge dispatch service to book more freight.

(Source: https://www.parade.ai/resources/parade-and-truxx-ai-join-forces-to-unlock-freight-capacity)

Top Companies Market Share in Digital Freight Brokerage Industry: (In no particular order of Rank)

• Cargomatic Inc.
• DB Schenker Logistics
• Coyote Logistics LLC
• DHL International GmbH
• Convoy
• DAT Solutions LLC
• Echo Global Logistics
• Cargocentric Inc.
• C.H. Robinson
• CEVA Logistics
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Digital Freight Brokerage Market

Which Region Dominates the Digital Freight Brokerage Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Due to the growth of online marketplaces, rising internet penetration, and shifting customer preferences, the region has seen a significant increase in e-commerce activity. Digital freight brokerages are essential to the e-commerce ecosystem because they offer retailers and online merchants scalable and effective logistics solutions.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the Digital Freight Brokerage market. A wide variety of developing markets with particular logistical opportunities and problems can be found in Asia Pacific. By providing specialized solutions that cater to the unique requirements of regional companies, such as last-mile delivery services, cross-border trade facilitation, and warehouse management systems, digital freight brokerages are entering these sectors.

The current report Scope analyzes Digital Freight Brokerage Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Digital Freight Brokerage Market

According to Cognitive Market Research, the global Digital Freight Brokerage market size was estimated at USD 7158.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 2863.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 30.8% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Digital Freight Brokerage market with a market size of USD 2259.13 million in 2024 and is projected to grow at a CAGR of 30.6% during the forecast period. The growth in the country is attributed to the growing demand from the end-use industry.
• The Canada Digital Freight Brokerage market had a market share of USD 343.59 million in 2024 and is projected to grow at a CAGR of 31.6% during the forecast period. The country is attributed to the rising investment.
• The Mexico Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.3% during the forecast period with a market size of USD 260.56 million in 2024.

Europe Digital Freight Brokerage Market

According to Cognitive Market Research, the global Digital Freight Brokerage market size was estimated at USD 7158.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 2147.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 31.1% from 2024 to 2031.

• The United Kingdom Digital Freight Brokerage market had a market share of USD 360.77 million in 2024 and is projected to grow at a CAGR of 31.9% during the forecast period. In the UK, Digital Freight Brokerage sales witness an upswing due to the nation's growing investment.
• The France Digital Freight Brokerage market is projected to witness growth at a CAGR of 30.3% during the forecast period with a market size of USD 197.57 million in 2024.
• According to Cognitive Market Research, the Germany Digital Freight Brokerage market size was valued at USD 425.20 million in 2024 and is projected to grow at a CAGR of 31.3% during the forecast period. In Germany, Digital Freight Brokerage sales surged due to the presence of major companies.
• The Italy Digital Freight Brokerage market is projected to witness growth at a CAGR of 30.5% during the forecast period with a market size of USD 184.68 million in 2024.
• The Russia Digital Freight Brokerage market is projected to witness growth at a CAGR of 30.1% during the forecast period with a market size of USD 332.86 million in 2024.
• The Spain Digital Freight Brokerage market is projected to witness growth at a CAGR of 30.2% during the forecast period with a market size of USD 176.09 million in 2024.
• The Luxembourg Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.2% during the forecast period with a market size of USD 66.57 million in 2024.
• The Portugal Digital Freight Brokerage market is projected to witness growth at a CAGR of 30.9% during the forecast period with a market size of USD 45.10 million in 2024.
• The Greece Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.4% during the forecast period with a market size of USD 25.77 million in 2024.
• Rest of Europe Digital Freight Brokerage market is projected to witness growth at a CAGR of 29.8% during the forecast period with a market size of USD 332.86 million in 2024.

Asia Pacific Digital Freight Brokerage Market

According to Cognitive Market Research, the global Digital Freight Brokerage market size was estimated at USD 7158.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1646.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 34.6% from 2024 to 2031.

• According to Cognitive Market Research, the China Digital Freight Brokerage market size was valued at USD 740.87 million in 2024 and is projected to grow at a CAGR of 34.1% during the forecast period. Digital Freight Brokerage sales surged in China due to the growing product launches.
• The Japan Digital Freight Brokerage market is projected to witness growth at a CAGR of 33.1% during the forecast period with a market size of USD 227.20 million in 2024.
• The India Digital Freight Brokerage market had a market share of USD 197.57 million in 2024 and is projected to grow at a CAGR of 36.4% during the forecast period. The demand is augmented by India's growing e-commerce industry.
• The South Korea Digital Freight Brokerage market is projected to witness growth at a CAGR of 33.7% during the forecast period with a market size of USD 164.64 million in 2024.
• The Australia Digital Freight Brokerage market is projected to witness growth at a CAGR of 34.3% during the forecast period with a market size of USD 85.61 million in 2024.
• The South East Asia Digital Freight Brokerage market is projected to witness growth at a CAGR of 35.6% during the forecast period with a market size of USD 113.60 million in 2024.
• The Rest of the Asia Pacific Digital Freight Brokerage market is projected to witness growth at a CAGR of 34.4% during the forecast period with a market size of USD 116.89 million in 2024.

South America Digital Freight Brokerage Market

According to Cognitive Market Research, the global Digital Freight Brokerage market size was estimated at USD 7158.2 Million out of which the Latin America market is more than 5% of the global revenue with a market size of USD 357.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.0% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Digital Freight Brokerage market size was valued at USD 153.19 million in 2024 and is projected to grow at a CAGR of 32.6% during the forecast period. Digital Freight Brokerage sales flourish in Brazil due to the nation's favourable market conditions.
• The Argentina Digital Freight Brokerage market had a market share of USD 60.13 million in 2024 and is projected to grow at a CAGR of 32.9% during the forecast period. The demand is augmented by Argentina's growing product launch.
• The Colombia Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.8% during the forecast period with a market size of USD 31.85 million in 2024.
• The Peru Digital Freight Brokerage market is projected to witness growth at a CAGR of 32.2% during the forecast period with a market size of USD 29.35 million in 2024.
• The Chile Digital Freight Brokerage market is projected to witness growth at a CAGR of 32.3% during the forecast period with a market size of USD 25.77 million in 2024.
• The Rest of the Latin America Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.1% during the forecast period with a market size of USD 57.62 million in 2024.

Middle East and Africa Digital Freight Brokerage Market

According to Cognitive Market Research, the global Digital Freight Brokerage market size was estimated at USD 7158.2 Million out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 143.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.3% from 2024 to 2031.

• The GCC Countries Digital Freight Brokerage market is projected to witness growth at a CAGR of 33.1% during the forecast period with a market size of USD 61.27 million in 2024. Digital Freight Brokerage sales flourish due to the region's favorable market conditions.
• The Egypt Digital Freight Brokerage market is projected to witness growth at a CAGR of 32.6% during the forecast period with a market size of USD 15.03 million in 2024.
• The South Africa Digital Freight Brokerage market is projected to witness growth at a CAGR of 33.3% during the forecast period with a market size of USD 22.62 million in 2024. Digital Freight Brokerage sales flourish in South Africa due to the region's favorable market conditions and growing product launches.
• The Turkey Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.8% during the forecast period with a market size of USD 12.31 million in 2024.
• The Nigeria Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.4% during the forecast period with a market size of USD 15.03 million in 2024.
• The Rest of MEA Digital Freight Brokerage market is projected to witness growth at a CAGR of 31.3% during the forecast period with a market size of USD 16.89 million in 2024.

Digital Freight Brokerage Market Analysis

Digital Freight Brokerage Market Platform Segment Analysis

According to Cognitive Market Research, Digital Freight Exchange stands out as the dominating category. Algorithms and data analytics are used by digital freight exchanges to match available freight loads with appropriate carriers according to criteria including origin, destination, cargo type, capacity, and preferred timing. This automated matching procedure gives shippers access to a wider pool of available capacity while maximizing the use of transportation assets and lowering carrier empty miles.

Tender Platform emerges as the fastest-growing category in the Digital Freight Brokerage market. Shippers can develop and publish freight tenders online through a tender portal, and carriers can reply with bids or quotes. Through the digitization and automation of numerous processes, including bid administration, communication, and paperwork, the platform expedites the tendering process.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Digital Freight Brokerage Industry. Request a Free Sample PDF!

Digital Freight Brokerage Market Deployment Segment Analysis

According to Cognitive Market Research, the dominating category is Desktop. Freight brokers may effectively handle the whole freight load lifecycle, from booking to delivery, with the use of desktop programs. The tool allows brokers to track shipments, enter load details, find available carriers, negotiate pricing, and connect with shippers and carriers.

The fastest-growing category in the Digital Freight Brokerage market is Mobile. Users can access digital freight brokerage services and tools via their smartphones or tablets using mobile applications, which are available to freight brokers, shippers, carriers, and drivers. The logistics process is made more flexible and responsive by this mobility, which enables users to track shipments, conduct freight transactions, and connect with stakeholders from anywhere at any time.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Digital Freight Brokerage Transportation Mode Segment Analysis

According to Cognitive Market Research, the dominating category is roadways. One of the main ways to convey freight is by road, especially for last-mile deliveries and short- to medium-distance travel. By connecting shippers and carriers, digital freight brokerages make it easier for freight capacity or vehicles to be found and used for road freight transportation of commodities.

The fastest-growing category in the Digital Freight Brokerage market is Airways. Airlines are the best means of moving expensive, perishable, or time-sensitive cargo over great distances because of their unmatched speed and sensitivity. Utilizing air transportation, digital freight brokerages offer first-rate services for urgent goods while meeting delivery dates and giving accelerated shipping options.

• Roadways
• Seaways
• Airways
• Railways

Digital Freight Brokerage End User Segment Analysis

According to Cognitive Market Research, the dominating category is Logistics Companies. Digital freight brokerage systems serve both clients and users, including logistics companies. By using these platforms, they can increase operational efficiency, get access to a wider network of carriers and shippers, and streamline their freight procurement procedures.

The fastest-growing category in the Digital Freight Brokerage market is 3PL. A vast array of logistics services, such as transportation management, value-added logistics solutions, freight forwarding, distribution, warehousing, and customs brokerage, are provided by 3PL providers. 3PL providers use technology platforms in the digital freight brokerage sector to improve their service offerings, streamline operations, and provide clients with value-added services.

• Digital/ Virtual Forwarders
• Logistics Companies
• 3PL

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion