Freight Brokerage Services Market by Service Type (Expedited Freight Brokerage, Flatbed Brokerage, Intermodal Brokerage), Customer Type (B2B, B2C), Mode of Transport, End-User - Global Forecast 2024-2030

Freight Brokerage Services Market by Service Type (Expedited Freight Brokerage, Flatbed Brokerage, Intermodal Brokerage), Customer Type (B2B, B2C), Mode of Transport, End-User - Global Forecast 2024-2030

The Freight Brokerage Services Market size was estimated at USD 57.08 billion in 2023 and expected to reach USD 60.40 billion in 2024, at a CAGR 6.33% to reach USD 87.75 billion by 2030.

The freight brokerage services market involves the facilitation of shipping goods between shippers and carriers without owning any transport vehicles. Economic growth enhances manufacturing and consumer spending, which in turn increases demand for freight services. Innovations in transport logistics, such as GPS tracking and automated freight matching systems, enhance the efficiency of freight brokerage services. Increasing awareness of environmental issues encourages the adoption of greener logistics solutions, which can be coordinated effectively by freight brokers. However, fluctuations in fuel prices can unpredictably affect operational costs. Adherence to various international and local regulations can be complex and restrictive, challenging the market expansion. Moreover, technological integration such as AI and Machine Learning for more predictive freight matching and efficient route planning generates significant potential for market growth. Emerging economies present new opportunities for market expansion due to increasing industrial activities. Developing eco-friendly freight solutions can attract new clients concerned with corporate social responsibility, generating opportunities for market growth.

Regional Insights



The freight brokerage services market in the Americas region is highly developed and competitive, driven by advanced technological infrastructure and a robust logistics sector. Key consumer needs in the U.S. and Canada include timely delivery, cost efficiency, and scalable logistics solutions, reflecting the fast-paced and high-service standard expectations of American firms. In Canada, there is a strong emphasis on cross-border trade with the U.S. and sustainable transportation methods. Canadian consumers value transparency and reliability due to the vast geographic span and challenging terrains impacting delivery times. In Europe, the freight brokerage market benefits from a unified regulatory environment that simplifies cross-border transportation. European consumers prioritize environmental sustainability, leading to an increased demand for green logistics solutions. The Middle East exhibits a growing demand for freight brokerage services, driven by its strategic position as a transcontinental logistics hub. Investments in infrastructure developments, such as the expansion of port facilities and logistics parks, cater to the extensive trade flows in the Middle East region. Africa's market is emerging with significant potential due to its expanding infrastructure and increasing internet penetration. In the Asia Pacific region, China leads in terms of market volume and technology integration in freight brokerage. Japan focuses on precision and reliability, with significant investments in technology to ensure meticulous transport operations. Meanwhile, India is experiencing rapid growth in e-commerce, which boosts demand for domestic and cross-border freight brokerage services.

Market Insights



Market Dynamics



The market dynamics represent an ever-changing landscape of the Freight Brokerage Services Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers


Expanding eCommerce activity and rising demand for efficient logistics
Enhanced regulatory support for transportation safety and efficiency across economies

Market Restraints


High cost associated with implementing advanced brokerage solutions and ongoing service fees

Market Opportunities


Integration of advanced technologies in freight brokerage services
Collaborative development and public-private partnerships for the development of streamlined logistics solutions

Market Challenges


Integration and deployment challenges in freight brokerage systems

Market Segmentation Analysis


Service Type: Continuing enhancements in intermodal brokerage service
End User: Exploring applications in retail and e-commerce sector

Market Disruption Analysis


Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix



The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Freight Brokerage Services Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis



The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Freight Brokerage Services Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments




Truckstop Introduces Advanced Carrier Verification and Risk Management Services

Truckstop announced the launch of three innovative services, aimed at enhancing broker confidence in carrier authenticity and risk management. The services include Identity Verification, which cross-references carriers' governmental IDs with real-time photos; Risk Factors, which employs artificial intelligence to evaluate and highlight risk indicators from various carrier data sets; and FreightFriend, a tool that optimizes carrier relationships to boost utilization and profit margins. The company’s commitment to evolving broker-specific solutions, underscores a long-standing devotion to innovation in response to broker needs.


Enhancing Operational Efficiency in Freight Brokerage Through Advanced Carrier Sourcing Tools

Trucker Tools has introduced two innovative features, Lane Search and Carrier Check, as part of its Carrier Sourcing strategy to enhance freight brokerage operations. Lane Search is a dynamic tool designed to assist brokers in effectively managing requests for proposals and sourcing carriers for new lanes. These tools collectively offer a streamlined approach for sourcing and vetting carriers, utilizing data from over 350,000 pre-vetted carriers, thereby elevating the standards and efficiency of carrier management in the freight brokerage industry.


Flexport Launches the Convoy Platform, Advancing Freight Brokerage Innovation

Flexport, has officially launched the Convoy Platform, approximately four months post-acquisition of the technology and intellectual property of the now-defunct digital truck brokerage, Convoy platform is designed to simplify and enhance the logistics experience by providing small carriers with better access to freight and offering shippers and brokers dynamically competitive rates, increased shipment visibility, and improved on-time delivery performance.

Strategy Analysis & Recommendation



The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Freight Brokerage Services Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles



The report delves into recent significant developments in the Freight Brokerage Services Market, highlighting leading vendors and their innovative profiles. These include Agility Logistics Pvt. Ltd., ArcBest Corporation, C.H. Robinson Worldwide, Inc., CEVA Logistics AG, Coyote Logistics by UPS, Inc., Damco International A/S, DHL Supply Chain, Echo Global Logistics, Inc., England Logistics, GlobalTranz Enterprises LLC, Hellmann Worldwide Logistics SE & Co. KG, Hub Group, Inc., J.B. Hunt Transport, Inc., Kenan Advantage Group, Kuehne + Nagel International AG, Landstar System, Inc., Mode Transportation, Nippon Express Co., Ltd., Schneider National, Inc., Total Quality Logistics, LLC, Uber Technologies, Inc., Worldwide Express, Inc., XPO, Inc., and Yusen Logistics (Americas) Inc..

Market Segmentation & Coverage



This research report categorizes the Freight Brokerage Services Market to forecast the revenues and analyze trends in each of the following sub-markets:

Service Type
Expedited Freight Brokerage
Flatbed Brokerage
Intermodal Brokerage
Less Than Truckload Brokerage
Refrigerated Brokerage
Specialized Freight Brokerage
Truckload Brokerage
Customer Type
B2B
B2C
Mode of Transport
Roadways
Waterways
End-User
Automotive
Healthcare
Manufacturing
Retail & E-Commerce
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year