Market Size of United States Digital Freight Forwarding Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.89 Billion |
| Market Size (2029) | USD 18.40 Billion |
| CAGR (2024 - 2029) | 21.72 % |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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US Digital Freight Forwarding Market Analysis
The United States Digital Freight Forwarding Market size is estimated at USD 6.89 billion in 2024, and is expected to reach USD 18.40 billion by 2029, growing at a CAGR of 21.72% during the forecast period (2024-2029).
- One of the main factors propelling the expansion of businesses across all industries is the automation of manual processes. Additionally, the market for digital freight forwarding is growing and expanding due to the spread of e-commerce and the rise in free trade agreements.
- The majority of sectors are undergoing digital transformations, and freight forwarding is no exception. Technology is used by digital freight forwarders to plan and manage cargo transit.
- Through the use of digital freight forwarding, industry participants can take advantage of current technological advancements to streamline contact between all parties involved in a shipping project. In order to give customers the best deal, digital freight forwarding also involves the use of a totally transparent cloud-based system that makes it simple to compare multiple shipping prices.
- Digitization continues to be one of the key drivers supporting the growth of the US economy. Companies like Convoy, Uber Freight, and uShip are developing new platforms to fill in the gaps in the logistics industry. With digital freight forwarding, the manual process will be reduced. The major benefits of digital freight forwarding include instant quotes, transparent pricing, comparison of rates and carriers, tracking, easy documentation, and others. The logistics industry is developing into a paperless digitized industry, supporting the market's growth.
- Many companies are now embracing digital freight services. In the six months before April 2021, Uber Freight's owner-operator activation nearly doubled, and by May 2021, the number of new authority carriers had increased by more than 300% year over year. In the first quarter of 2021, the company closely monitored this driver supply shift as well as other macro developments affecting the industry, such as the US labor trends and supply-chain bottlenecks.
