Global Freight Forwarding Market Continues to Contract

by Ruth Seeley’s Global Freight Forwarding Update 2019/2020 examines mid-year market growth, the effect of the US/China trade war and advances in supply chain technologies.

An industry undergoing massive change, the global freight forwarding market contracted by 1.4% in H1 and is expected to contract by 1.3% in 2019—the worst performance since the global financial crisis. With similar stories within air freight and sea freight, Ti’s mid-year report looks at what’s causing this decline and which markets and regions are the most affected.

The report looks at the effect of the US/China trade war on country and market growth, while assessing technology and the role of software providers within the market. Are forwarders still the slow adopters of technology as in previous years or are they now adapting and responding to technological advances? Which software solutions are they adopting and how is this affecting the industry?

Finally, the report looks at the digital freight landscape and the roles of digital forwarders and digital marketplaces. It identifies companies offering digital services within the international air and sea freight sectors, the technologies forwarders/marketplaces are using and the services they provide. It also looks at carrier reaction, especially their booking and quotation services functionality.

Performance across 2019, the impact of the US/China trade war, and the prospects for US imports are examined in the report, which also looks at forwarders. Traditionally slow tech adopters, how are forwarders reacting to technological advances? What software solutions are they adopting, and what benefits are they seeing in terms of efficiency, scalability and security. There’s also an assessment of the role start-ups are playing in the industry.

Source: Research and Markets 

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