Digital Freight Matching Market Size, Share & Trends Analysis Report By Service, By Platform, By Transportation Mode, By Industry, By Region, And Segment Forecasts, 2023 - 2030

Digital Freight Matching Market Size, Share & Trends Analysis Report By Service, By Platform, By Transportation Mode, By Industry, By Region, And Segment Forecasts, 2023 - 2030

Digital Freight Matching Market Growth & Trends

The global digital freight matching market size is expected to reach USD 247.58 billion by 2030, expanding at a CAGR of 31.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. A digital freight matching platform is an online marketplace for shippers and carriers to connect in real time. Shippers look for available capacity catering to their shipment needs, and carriers look for specific loads to fill their fleets or trucks. The COVID-19 pandemic accelerated digitization and adoption of automation technologies across supply chains as businesses looked to improve their operations. This positively impacted the market in the long term, although the growth slowed in 2020 due to lower trade and manufacturing activities. Improving digital infrastructure in developing economies provide significant growth opportunities for the market.

Governments are taking initiatives to improve goods movement speed and address supply chain challenges. For instance, in March 2022, the U.S. government announced a new initiative called Freight Logistics Optimization Works (FLOW). The initiative included eighteen participants, including logistics companies and private businesses. It aimed to share key information during the movement of goods across the supply chain. The government aimed to support businesses across the supply chain and improve information accuracy. Such initiatives are likely to boost the adoption of digital freight matching platforms.

On the basis of service, the market for digital freight matching is divided into freight matching services, and value added services. Freight matching services include the core services of the digital freight matching platform that help shippers connect with carriers with the use of Artificial Intelligence (AI) and Machine Learning (ML) powered algorithms. On the basis of platform, the market is divided into web-based and mobile-based. Mobile-based platforms offer greater speed and functionality compared to web-based platforms. A web-based platform is easier to build, but unlike a mobile-based platform, it cannot work offline.

The market players are expanding to improve their footprint. For instance, in April 2021, India-based FreightMango announced the launch of a new office in Nebraska, U.S. The company then had operations teams in India and the U.S. working to improve their offerings for shippers. The company aimed to meet digital freight matching needs and improve customer experience.

Some of the key players operating in the global market include Uber Freight (Uber Technologies, Inc.), Redwood, C.H. Robinson Worldwide, Inc., XPO, Inc., Convoy, Inc, Full Truck Alliance (JiangSu ManYun Software Technology Co., Ltd.), Freight Technologies, Inc., Freight Tiger, Cargomatic Inc., and Roper Technologies, Inc. These key players are adopting different development strategies such as product launches, partnerships & collaboration, and others to expand their presence and market share in the digital freight matching market. In May 2023, U.S.-based Transfix announced a partnership with HIGHWAY APP, INC., a U.S.-based carrier identity solution provider. Integrating HIGHWAY APP, INC.’s Carrier Identity engine, and Transfix’s Transfix Carrier App will enable a faster onboarding experience. With this partnership, the companies aimed to improve efficiency and transparency during the onboarding and carrier compliance processes.

Digital Freight Matching Market Report Highlights

• Digital freight matching industry is expected to see significant growth owing to growing e-commerce sales and improving internet access and smartphone adoption
• The value added services segment is projected to grow at the fastest CAGR over the forecast period
• The mobile-based segment is expected to dominate the market in 2022 with a market share of more than 61.0% and is expanding at a CAGR of 32.5% from 2023 to 2030
• The Full Truckload (FTL) segment is projected to grow at the fastest CAGR of 32.6% over the forecast period
• The food & beverages segment held the largest revenue share in the market globally in 2022 and is expected to expand at a CAGR of 32.2% from 2023 to 2030

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