The Global Digital Freight Matching Market size is expected to reach $224.1 billion by 2030, rising at a market growth of 30.9% CAGR during the forecast period.
Web-based platforms in the market offer users the flexibility to access DFM services and features through web browsers on desktop computers, laptops, and mobile devices with internet connectivity. Thus, the web-based segment registered $6,209.8 million revenue in the market in 2022. These platforms provide a convenient way for shippers, carriers, and other stakeholders in the logistics and transportation industry to manage their freight operations. The ease of maintenance of web-based platforms is driving the segment's growth. Some of the factors impacting the market are increasing DFM demand due to the expanding 3-commerce sector, rising use of DFM for cost optimization, and integration complexity in digital freight matching.
The e-commerce boom has been one of the major catalysts for the growth of the market. The expansion in online shopping has led to a higher demand for transportation services to deliver products to consumers. DFM platforms help e-commerce companies efficiently match this demand with available carrier capacity. E-commerce companies require efficient last-mile delivery solutions to meet customer expectations for fast and reliable deliveries. As e-commerce expands globally, the DFM market is expected to grow in tandem, offering even more innovative solutions to meet the industry's needs. Moreover, DFM platforms connect shippers directly with carriers, eliminating the need for intermediaries and reducing brokerage fees and commissions. This cost-saving benefit attracts businesses looking to reduce transportation expenses. DFM algorithms optimize transportation routes by considering distance, traffic, and fuel efficiency. This reduces fuel consumption, lower operating costs, and shorter transit times. Cost reduction is a compelling incentive for businesses to adopt DFM solutions. As organizations look for ways to improve their bottom line and remain competitive in the logistics and transportation industry, DFM platforms provide effective tools to achieve significant cost savings while enhancing operational efficiency. This, in turn, fuels the continued growth of the market.
However, Integration complexity is indeed one of the significant challenges facing the market. Many businesses in the logistics and transportation industry still depend on legacy systems and processes that may not easily integrate with modern DFM platforms. Integrating with these older systems can be complex and costly. Different businesses may use a variety of technology stacks, including various transportation management systems (TMS), enterprise resource planning (ERP) software, and other logistics solutions. DFM platforms must be compatible with this diversity, complicating integration efforts. Thus, the integration complexity of these systems can hamper their adoption, thereby slowing the growth of the market.
On the basis of industry, the market is classified into food & beverages, retail & e-commerce, manufacturing, oil & gas, automotive, healthcare & life sciences, and others. The food and beverages segment generated the highest revenue share in the market. The food & beverage industry consists of time-sensitive goods. The quality of the products can deteriorate over time and require specific conditions across the supply chain. Hence, they need quick and efficient transportation solutions to maintain their quality. A digital freight matching platform can improve the overall speed of freight brokerage operations as the platform connects the shippers with carriers as per load requirements. Maintaining food quality and ensuring regulatory compliance is driving the segment's growth.
On the basis of service, the market is segmented into freight matching services and value-added services. The value-added services segment acquired a substantial revenue share in the market in 2022. Value-added services include services such as support and insurance services. Moreover, these services can offer shippers access to TMS and carriers access to software for managing traffic ticket records. These services address the needs of carriers and shippers, improving their engagement on the platform. The demand for essential services on a single platform is driving the growth of this segment. These services go beyond the core functionality of matching shippers with carriers and provide additional tools and features that help participants in the logistics and transportation industry streamline their operations, reduce costs, and improve efficiency.
By transportation mode, the market is categorized into full truckload (FTL), less-than-truckload (LTL), intermodal, and others. In 2022, the full truckload (FTL) segment witnessed the largest revenue share in the market. Full truckload (FTL) involves booking the entire truck, and the goods are delivered from the starting to the end point without intermediate loading. It is a good option for shipping temperature-sensitive goods not meant to be transported with other goods. Moreover, it is a good option for transporting goods quickly without stopovers. The flexibility and quickness of full truckload (FTL) transportation is driving the segment's growth.
Based on platform, the market is fragmented into web-based and mobile-based. The iOS segment garnered a significant revenue share in the market in 2022. iOS platforms allow carriers, drivers, and shippers to access DFM services and features on iOS mobile devices. Convoy, a leading DFM platform, offers an iOS app that allows users to find and book loads, track shipments in real time, and manage their transportation operations.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 26.9 Billion |
| Market size forecast in 2030 | USD 224.1 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 30.9% from 2023 to 2030 |
| Number of Pages | 349 |
| Number of Table | 550 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Service, Platform, Transportation Mode, Industry, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the digital freight matching market with maximum revenue share. North America has a developed technological infrastructure with high internet and smartphone penetration. Hence, regional shippers and carriers can access digital freight matching platforms. The presence of major market players such as U.S.-based Uber Freight (Uber Technologies, Inc.) and Convoy, Inc., and high Research and Development (R&D) activity of technologies such as AI and ML in the region is a favorable environment for the market growth in the region.
Free Valuable Insights: Global Digital Freight Matching Market size to reach USD 224.1 Billion by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Uber Freight Holding Corporation (Uber Technologies, Inc.), Redwood Logistics (AEA Investors LP), C.H. Robinson Worldwide, Inc., XPO, Inc., Convoy, Inc., Full Truck Alliance Co. Ltd. (JiangSu ManYun Software Technology Co., Ltd.), Freight Technologies, Inc., Freight Commerce Solutions Private Limited, Cargomatic, Inc., Roper Technologies, Inc.
By Service
By Transportation Mode
By Platform
By Industry
By Geography
This Market size is expected to reach $224.1 billion by 2030.
Increasing DFM demand due to the expanding e-commerce sector are driving the Market in coming years, Integration complexity in digital freight matching restraints the growth of the Market.
Uber Freight Holding Corporation (Uber Technologies, Inc.), Redwood Logistics (AEA Investors LP), C.H. Robinson Worldwide, Inc., XPO, Inc., Convoy, Inc., Full Truck Alliance Co. Ltd. (JiangSu ManYun Software Technology Co., Ltd.), Freight Technologies, Inc., Freight Commerce Solutions Private Limited, Cargomatic, Inc., Roper Technologies, Inc.
The Freight Matching Services segment is generating the maximum revenue in the Market, By Service in 2022; thereby, achieving a market value of $179.9 billion by 2030.
The Mobile-based segment is leading the Market, By Platform in 2022; thereby, achieving a market value of $135.8 billion by 2030.
The North America market dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $73.4 billion by 2030.
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