Global Freight Brokerage Services Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Rising adoption of strategies by key players, the market is expected to rise over the projected horizon

• The goods brokerage business is extremely competitive, with numerous competitors providing comparable services. The market's growth might be stifled by excessive rivalry, which can lead to price wars and reduced profit margins.

Market Segmentations

• The Global Freight Brokerage Services Market is segmented based on Type, Service, Customer, Mode of Transport, End-User, and Geography.
• By Type, the market is classified into domestic, international, and cross-border.
• The domestic freight brokerage market is the largest and most stable. This is partly due to the enormous variety of domestic shipping routes available and the high demand from traditional shippers such as wholesalers and manufacturers. Nonetheless, due to increased demand from e-commerce enterprises and other fast-growing areas such as transportation and logistics, international freight brokerage has seen stronger growth in recent years. This rate of expansion is predicted to continue for the following seven years.
• By Service, the market is classified into Intermodal, Full Truckload, and Less Than Truckload.
• Full truckload holds the largest share of the market. Transportation involves using an entire truck or trailer to carry a single shipment. Freight brokers in this segment work with their customers to find a suitable carrier with the capacity and the capability to transport a full truckload of goods from one location to another. These services are generally used for larger and heavier loads, such as raw materials, industrial goods, and heavy equipment.
• By Customer, the market is classified into business-to-business (B2B) and Business-to-customer (B2C).
• The B2B segment holds the largest share of the market. This segment is more mature and has higher revenue potential, as businesses have more complex logistics needs and depend more on supply chain management services. B2B customers tend to be larger and have a higher volume of goods to ship, making them a more attractive target market for freight brokerage firms. Additionally, B2B customers are more likely to have long-term relationships with their suppliers and are more likely to require customized services and solutions.
• By Mode of Transport, the market is classified into Waterways, Roadways, and Others.
• The roadways segment, including trucks and buses, holds the largest freight brokerage services market share. This is because roadways are the most widely used mode of transportation for cargo, accounting for over 90% of global goods transportation. Roads are the most convenient and reliable mode of transport for moving goods from one place to another, and most goods are transported using truck trailers. Freight brokers in the roadways segment work with trucking companies, carriers, and trucking owners to facilitate the transportation of goods from one point to another. They negotiate rates, schedule shipments, and create routing plans to ensure timely and efficient delivery.
• By End-User, the market is classified into Retail, E-Commerce, Manufacturing, Healthcare, Automotive, and Others.
• The manufacturing segment holds the largest share of the freight brokerage services market. This is because manufacturers often require a high volume of raw materials, components, and finished goods to be transported from one place to another. Freight brokers in the manufacturing segment work with shipping companies, carriers, and transportation management systems (TMS) to facilitate the transportation of goods. They negotiate rates, manage the logistics of shipping, and provide custom solutions to meet specific customer needs.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• The Americas segment holds the largest share of the market. This segment is dominated by the United States, the world's largest consumer market for products and services. The United States is home to many large retailers, manufacturers, and e-commerce marketplaces, which require reliable and efficient freight brokerage services for transporting goods. The freight brokerage services market in the Americas is also driven by the region's well-established infrastructure, which includes a vast network of roads, airports, and seaports.

Recent Development

• Supply Chain Solutions and Echo had signed a definitive agreement to acquire Roadtex. - May 2022
• CH Robinson expanded its global and Asian reach by opening a new office in Beijing. Conveniently located in Chaoyang District, this additional location allows customers easy access to C.H. Global's service coverage. - February 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Freight Brokerage Services Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Freight Brokerage Services Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Freight Brokerage Services Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market